MicroPullBacks For ThinkOrSwim

[gstq54]

Hello, this is Richard Wilkinson: a.k.a pingPa.
I am 71 and a widower who has just discovered the wonderful World of thinkscript.
Recently, I was watching an interview with Bill Gates on PBS, where he describes how he uses Co-Pilot, and I thought I would try it for the first time.
Wow, Bloody Norah! As we Brits say when something takes us by surprise.
I asked Co-Pilot to create a script based on Ross Cameron's micro-pullback study.
Here's the reply:

# Micro Pullback Chart Study by Copilot
input emaLength = 9;
input volumeMultiplier = 1.5;

def ema = ExpAverage(close, emaLength);
def bullishCandle = close > open;
def prevHigh = high[1];
def prevLow = low[1];

def pullback = close[1] < ema[1] and low[1] > ema[2];
def breakout = close > prevHigh and close > ema;
def avgVol = Average(volume, 20);
def volSpike = volume > avgVol * volumeMultiplier;

def signal = breakout and pullback and bullishCandle and volSpike;

plot MicroPullback = signal;
MicroPullback.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
MicroPullback.SetDefaultColor(Color.GREEN);
MicroPullback.SetLineWeight(3);

I haven't tried this yet, but will this week. Makes me think that artificial intelligence is about to make life very interesting.

Cheers, pingPa

 

[halcyonguy]

Hello, this is Richard Wilkinson: a.k.a pingPa.
I am 71 and a widower who has just discovered the wonderful World of thinkscript.
Recently, I was watching an interview with Bill Gates on PBS, where he describes how he uses Co-Pilot, and I thought I would try it for the first time.
Wow, Bloody Norah! As we Brits say when something takes us by surprise.
I asked Co-Pilot to create a script based on Ross Cameron's micro-pullback study.
Here's the reply:

# Micro Pullback Chart Study by Copilot
input emaLength = 9;
input volumeMultiplier = 1.5;

def ema = ExpAverage(close, emaLength);
def bullishCandle = close > open;
def prevHigh = high[1];
def prevLow = low[1];

def pullback = close[1] < ema[1] and low[1] > ema[2];
def breakout = close > prevHigh and close > ema;
def avgVol = Average(volume, 20);
def volSpike = volume > avgVol * volumeMultiplier;

def signal = breakout and pullback and bullishCandle and volSpike;

plot MicroPullback = signal;
MicroPullback.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
MicroPullback.SetDefaultColor(Color.GREEN);
MicroPullback.SetLineWeight(3);

I haven't tried this yet, but will this week. Makes me think that artificial intelligence is about to make life very interesting.

Cheers, pingPa

hello richard and welcome

good on you for trying it out.

i'm probably the only one, but i will never use ai.
my 2 cents is, it will be years before ai can create anything useful in thinkscript. every ai script i have seen is wrong . your script has an average in it , that doesn't even belong in the calculations. ( based on looking at a video of him talking about the pullback)

, 25 seconds in


the first step in writing a program is to write out a set of rules that the program should follow
here is my interpretation of rules , from that picture
bar1 - green bar, big
bar2 - green bar, body bottom is near bar1 body top
bar3 - red bar, about same size as bar2 or smaller, might be inside bar
bar4 - green bar, big, body bottom is near bar3 bottom


you would be better off forgetting about ai and just learn thinkscript.
look at functions and examples online.
https://toslc.thinkorswim.com/center/reference/thinkScript/Functions/Tech-Analysis/Highest
i am a slow learner, but after a couple months and looking at 100s of code examples , it started making sense.


here is something similar
3 bar play
https://usethinkscript.com/threads/...-is-a-three-candle-pattern.15299/#post-124322
https://usethinkscript.com/threads/...scanner-for-thinkorswim.239/page-5#post-73393