Blast Off Indicator for ThinkorSwim

BenTen

BenTen

Administrative
Staff
VIP
@sdotmoore If you use the original version, it should be the same as the video. You must have added the "fancy version"
 
BenTen

BenTen

Administrative
Staff
VIP
@docsep Here you go:

Code:
# Blast Off Indicator
# Should use on the Daily chart
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/V9Mi6eOO-CM-Blast-Off-V1-Alerts-Ready/

input trig = 20;
input paintbar = yes;

def val = absValue(close - open);
def range = high - low;
def blastOffVal = (val / range) * 100;
def trigger = trig;
def alert1 = blastOffVal < trig;
def col = blastOffVal < trig;

plot value = if col then 1 else 0;
AssignBackgroundColor(if value == 1 then color.magenta else color.gray);
 
S

spencepuppy

New member
VIP
Had a lot of success with this indicator , thank you everyone. What is your favorite indicator to use along with this, if any? Also, I understand this is best used after a downtrend - do you like to see a certain number of bearish candles before you enter? On what time frame? Been daytrading with it on the 30 min
 
BenTen

BenTen

Administrative
Staff
VIP
@spencepuppy I like to use this indicator just to spot potential reversals. The blastoff candle is nothing more than just an indecision candlestick pattern. Quite useful if you know how to use it. It looks like you nailed it.
 

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