Bull Flag and Bear Flag Formations for ThinkorSwim

[stamenski]

@GetRichOrDieTrying I don’t think it repaint.

I have the code in my laptop and my desk top. The laptop does not paint the bars blue, whereas the desktop paints them. Why does it paint the bars blue. Arrows show on both machines though

 

[Pensar]

I have the code in my laptop and my desk top. The laptop does not paint the bars blue, whereas the desktop paints them. Why does it paint the bars blue. Arrows show on both machines though

@stamenski Try two things - check your appearance settings for the pricebar color, and/or check if you have any study loaded on the chart that changes the pricebar color. The codes in post #1 do not change the color of your bars.

 

[stormy77]

Can this indicator be added to the chart?

 

[cabe1332]

Can this indicator be added to the chart?

@stormy77 yes, the indicator script is included in the thread. It has an arrow that indicates Bull/Bear Flag completion. I have mine just to show Bullish arrows (YELLOW). I've added an alert, which I prefer. Add the following lines if you've like at the end of the script.

Alert(bearish, Round(close, 2) + " Bearish Flag", Alert.BAR);
Alert(bullish, Round(close, 2) + " Bullish Flag", Alert.BAR);

 

[robertj daytrade]

Old man needs help !!! I use TOS and I have a watchlist with 25 etf's and or stocks. I would like for someone to write a ThinkScript to run in a sub graph to show how many are up on the day based on the time frame I chose "5min, 30min or what ever" !!! If it requires 25 inputs that is OK or if it looks at a watchlist is OK. Will not have to count during the day !!!

 

[MerryDay]

@robertj daytrade You could set up a watchlist column using the Bull Flag Formation
found here ==> https://usethinkscript.com/threads/bull-flag-and-bear-flag-formations-for-thinkorswim.467/

 

[Hybety]

Regarding the code on the main page of this thread, I'm finding the signal on the chart does not exactly correlate to the thumbs up signal in the watchlist column. The watchlist will show a thumbs up even if the arrow up on the chart came 5-10 bars ago, even on a daily.
Would be great if this can be fixed to only show the thumbs up signal (in the watchlist) if the chart signal is within one or two bars.
Otherwise I'm finding this is almost useless as a watchlist column.

 

[MerryDay]

@Hybety Great Catch! Chart script is now fixed. Copy&Paste the new code for the upper study in post#1
It now matches the WatchList code.

 

[Hybety]

@Hybety Great Catch! Chart script is now fixed. Copy&Paste the new code for the upper study in post#1
It now matches the WatchList code.
View attachment 905
View attachment 906

Ah. So you're saying the watchlist code was correct but chart incorrect. I was expecting the opposite, but will take a look...
Thanks!

 

[MerryDay]

@Hybety Ken Rose provided the update to the watchlist to weed out false signals by adding a moving average filter.
If you like the previous version better, find the below statements in the study and in the watchlist and remove the struck-through words.

def Bulltrigger = trend and MacdLow and trigATR and PriceSma ;
def BearTrigger = TrendBear and MacdHighBear and BtrigATR and BPriceSma ;

 

[Galbs]

Still not working ughh.. here is a screenshot see how it shows orange bars and only 2/3 have bearflag /bull i added that because the thumbs arent working..

--- UPDATE FROM KEN --- it doesn't work on MAC apples he said.

If you click on the 3 bar icon at the top and click share scan can you send me the link cuz maybe that will work for me.

Anyone know how to make this work for a MAC? When adding:

AddLabel(yes, if Bulltrigger then "👍" else if BearTrigger then "👎" else " ", if BearTrigger then Color.dark_red else if Bulltrigger then Color.dark_GREEN else Color.ORANGE);
AssignBackgroundColor(color.light_ORANGE);

I get an error message: AddLabel is not allowed in this context

Not sure how to fix this. Does anyone know?

TIA

 

[MerryDay]

@Galbs There is no work-around.
The author of the script works for TDAmeritrade. If Ken says it won't work on Macs. It's the truth.

 

[Thomas]

I've had this script for years,...and began to explore it's code.
# __ Bull flag indicator for Thinkorswim by Steve from thestudentloanranger.wordpress.com


# Input and basic definitions

input pChg = 1.50; # Daily minimum percent increase during expansion phase (def=1.50)

def C = close;
def O = open;
def H = high;
def L = low;
def V = volume;


# isHigh is to stop a plotting issue inertia code, don't touch it!
def isHigh = C > 20000;


# Expansion range price and volume
def XRANGE = C[3] - O[5];
def XRANGEH = H[3] - O[5];
def XVOL = V[5] + V[4] + V[3];


# Define average true ranges and amount above
def atr = Average(TrueRange(high, C, low), 1.0);
def EXPANDER = atr > (Average(atr) * 1.10);
def EXPNDR = if EXPANDER[5] && EXPANDER[4] && EXPANDER[3] then 1 else 0;


# Percentage change characteristics
def PercentChg = Round(100 * (C / C[1] - 1), 3);
def PCCOUNT = if (PercentChg[5] > pChg && PercentChg[4] > pChg && PercentChg[3] > pChg)
or Round(100 * (C[3] / C[5] - 1), 3) > 10.0 then 1 else 0;


# Higher than average V characteristics
def Volavg = if (V[5] + V[4] + V[3]) / 3 > Average(V) * 1.10 then 1 else 0;


# Price action characteristics
def CandleAction = (C[5] > O[5] && C[4] > O[4] && C[3] > O[3]);
def Signal = if EXPNDR == 1 && Volavg == 1 && CandleAction && PCCOUNT then 1 else 0;


# 3-day consolidation settings

def CRANGE = Highest(H, 3) - Lowest(L, 3);
def UPDRIFT = Highest(H, 3) < (H[3] + (XRANGEH * 0.25));
def CONVOL = V[0] + V[1] + V[2];


# Ratio calculations

def XCRATIO = XRANGE / CRANGE;
def XVRATIO = XVOL / CONVOL;


# Confirmations and plot formatting

plot BULL = if XCRATIO > 2 && XVRATIO > 1.20 && UPDRIFT && Signal == 1 then 1 else 0;
BULL.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
BULL.SetDefaultColor(Color.LIME);
BULL.SetLineWeight(2);
AssignPriceColor(if BULL then Color.BLUE else Color.CURRENT);

plot STPPRICE = If(BULL and C > 0, (C[3] - (XRANGE * 0.40)), If(C < 0 and !BULL , (C[0] + (XRANGE * 0.95)), Double.NaN));
STPPRICE.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
STPPRICE.SetDefaultColor(Color.RED);
STPPRICE.SetLineWeight(2);

plot TGTPRICE = If(BULL and C > 0, (C[0] + (XRANGE * 0.90)), If(C < 0 and !BULL , (C[0] - (XRANGE * 0.40)), Double.NaN));
TGTPRICE.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
TGTPRICE.SetDefaultColor(Color.GREEN);
TGTPRICE.SetLineWeight(2);

 

[Thomas]

This is a scan share to the BullFlag,...... https://tos.mx/BjHoijL

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[victor]

This is a scan share to the BullFlag,...... https://tos.mx/BjHoijL

⚠ edited by moderator. Shared media blocked. ​

**Images, Videos, Media content from commercial websites can NOT be shared on this forum. The Internet is not in and of itself public domain. Most commercial material is protected by copyright.​

​

You can edit your post and provide a link to a commercial website but you can't share their images.​

the above scan does not return anything,

Does it work for you ?

 

[Thomas]

the above scan does not return anything,

Does it work for you ?

CRVS was the only chart that came up,....very restrictive scan but the pattern is perfect.....

 

[victor]

CRVS was the only chart that came up,....very restrictive scan but the pattern is perfect.....

try changing to last price more than 30.00.
Am not able to find any alert , can we relax it abit and get some more alerts ?

 

[Thomas]

Yes, that is the reason the post to play with it. After lunch was a suggestion to run the scan.....so
play as the pattern is perfect flag....things just need to workout in the market.

 

[dougn]

Yes, that is the reason the post to play with it. After lunch was a suggestion to run the scan.....so
play as the pattern is perfect flag....things just need to workout in the market.

Best flags I've seen yet Thomas. This is the one I'll be using.

The way I use it is to combine day, week, and month into one scan.

Cheers and thank you!

 

[Thomas]

Best flags I've seen yet Thomas. This is the one I'll be using.

The way I use it is to combine day, week, and month into one scan.

Cheers and thank you!

Column,... https://tos.mx/2FRXxT1
Scan,.... https://tos.mx/mvt5aMJ
2day 1minute chart,...market cap set higher to find lowfloat to mid-cap....