Blast Off Indicator for ThinkorSwim

I'm currently looking at the blastoff indicator scan, is there a certain time where you have to scan? because nothing is showing up on the scan
 
Hello...Newbie here and advanced apologies if this has been asked previously......

In the video, you there were red & green candles and the blast off candle as pink. When copying the code, everything is pink and white. Any way to have it the way it is in the video?

Thanks in advance.
 
@sdotmoore If you use the original version, it should be the same as the video. You must have added the "fancy version"
 
@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);
 
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
 
@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.
 
I am trying to add the original blastoff script as a scanner. Any idea what step I missed? When I go to edit the condition and add a new study "blastoff", I do not have the drop down option to choose "plot" and the "Save" button is greyed out. Any help would be greatly appreciated.

 
Last edited:
How has everyone been using this? I know it's best used after a downtrend but how do you define a downtrend? Timeframe? Any indicators you guys have had luck using with it? @BenTen
 
@spencepuppy Where did you read that this pattern is "best used after a downtrend"?

This is just merely a candlestick pattern that shows indecision between buyers and sellers. It should be used on the Daily timeframe.
 

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