Blast Off Indicator for ThinkorSwim

stone

Member
You are awesome! Thank you.
so weird, I reloaded the link, I originally let think or swim just name it. I reloaded and save the new version. but still doesn't have a drop down menu for the arrow. I went into think script and removed the last line of code which think script was giving me a drop down menu for command. I removed arrow.SetLineWeight(1); and it worked! I got lucky. thank you.
I trade options and I find the active trader not as user friendly as I would like. I wish I could see profit loss somewhere instead of detaching monitor. I know u can see p/l on stocks but is there anything I can do to have that show up on active trader for options?
 
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MerryDay

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@stone I wholeheartedly agree with you. I admit to loving TOS but the whole: monitor / active trader / trade analysis tools are sub-standard.
I don't think Schwab is going to be doing any big updates this year, so we just have to live with what we got.
 

ktp

New member
Awesome. Thank you so much

This is how it looks like...

AUlyNBL.png


Does anyone use this indicator on a regular basis?
Can you share your chart/grid? I like to test drive your setup.
 

chrisj1881

New member
Hello. I am having trouble getting this scan script as a watchlist column. the idea is to be able to reference any blastoff tickers from yesterday in real time the current trading day. (I have the offset set to 1 in the scan) see the $MU play below. I am trying to create a watchlist column that will be highlighted blue or whatever color if any of my daily watchlist had a blast off indication yesterday. the reason being I can reference current high trading volume, news, set ups in real time based on the indicator telling me there may be a big move today. Here is my script so far. any help is greatly appreciated.

input trig = 20;

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;

Blastoffscan() from 1 bars ago is true

AssignBackgroundColor(
if Blastoffscan() then color.blue
else color.black);

https://tos.mx/3ZQWQTU
 

iFrostyy

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VIP
Hello everyone new to coding and going to use this to practice on tonight and might need a guide to get started, with this indicator I would think its best to only display the current blastoff zone, when your running the "fancy" version too many lines and they dont really mean much once the stock has picked its direction, how can I have it display only the current blastoff zone? in addition will like to add clouds, red and green zone to this to make it more appealing, any comments help thank you all for your hard work!
 

homeplate

Member
Hi - I followed the same steps but my plot arrow selection isn't showing either. Here is the code I loaded into the Chart Area. And it is exactly the same code I loaded into the scanner. But when you do it in the scanner and just want to select the Study Blast Off, it does not give you the edit condition choice shown here in the link
(I can't seem to cut and paste the image)

Can Someone please help?
Sincerely,
homeplate

# 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;
assignPriceColor(if blastOffVal<trig then Color.MAGENTA else Color.Current);

#Plot Arrow
plot arrow = col;
arrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
arrow.SetDefaultColor(Color.CYAN);
arrow.SetLineWeight(3);
 

jtrain252

Member
If i want to day trade these, and i scan on the daily. Could i essentially use the hi/low of the fancy candle as entry points on a smaller time frame say the 5 min? is that the way you would utilize it for a day trade or should i be looking for fancy candles on a smaller time frame to begin with
 

MerryDay

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You should use this indicator on the daily chart. A pink candle represent a "blast off" candle. Expect a big move the next day. For day traders, you can also use this on the lower timeframes to look for indecision candles.
@jtrain252 Read the 1st post for more info
 

stone

Member

MerryDay

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@stone The pink/purple candles are not a specific pattern-type.
The pink/purple candle represents the mathematical premise: (Open - Close) Less Than 20% Of The Range.
You should use this indicator on the daily chart. A pink /purple candle represent a "blast off" candle. Expect a big move the next day. For day traders, you can also use this on the lower timeframes to look for indecision candles.
 

Mattyb740

Member
@stone The pink/purple candles are not a specific pattern-type.
The pink/purple candle represents the mathematical premise: (Open - Close) Less Than 20% Of The Range.
I’m having issues as well, I just have white and pink candles on daily and all intraday ones. I don’t have any arrows show up, and I used the shared link for the code. What did I do wrong ?
 

MerryDay

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I’m having issues as well, I just have white and pink candles on daily and all intraday ones. I don’t have any arrows show up, and I used the shared link for the code. What did I do wrong ?
What arrows are you looking for?
vg6xDDS.png
 
I thought there were arrows. But ok so the code will show move over the percent that’s in the code but it will not show which way correct. I’m just trying to see how I can use this effectively
Hi: My Blast off shared script does not have any options that work for the Scanner.
How about you?
 

MerryDay

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Hi: My Blast off shared script does not have any options that work for the Scanner.
How about you?
The Blast Off study is found here:
https://usethinkscript.com/threads/blast-off-indicator-for-thinkorswim.621/#post-4652

To use in the Scan Hacker, you reference the above study and
use the following filter. For more info on how to use the scan hacker: https://usethinkscript.com/threads/how-to-use-thinkorswim-stock-hacker-scans.284/
Arrow is true
The daily results for the scan are found here:
https://usethinkscript.com/threads/...-trade-weekly-options.1023/page-30#post-82478
 
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