CBC Flip For ThinkOrSwim

[FuBar]

The author states:
This is an indicator for the Candle By Candle (CBC) Flip strategy as created by @MapleStax
It’s useful to traders because it’s a simple approach to gauge if bulls or bears are in control for any particular candle. The logic is as follows:
If the most recent candle close is above the previous candle high, then bulls are in control.
If the most recent candle close is below the previous candle low, then bears are in control.
If neither of these 2 conditions are met, then whoever was already in control remains in force until one of the 2 conditions is met and the sentiment is flipped, hence the name CBC Flip.

The indicator output is simply interpreted as follows:
Triangle up = bulls in control
Triangle down = bears in control

In my experience this script is best used on the 5 or 10 minute time frames, as it helps to keep you in the trade for the bigger moves once a trend is established, while not getting shaken out from the “noisy” up/down candle price action of lower time frames like the 1 minute.

I’ve also had more success with this indicator when only taking long trades once the green triangle appears and price is above VWAP, and only taking short trades once the red triangle appears and price is below VWAP.

Can anyone convert the small amount of code below?

Thanks in advance!

https://www.tradingview.com/script/r9fHTyuj-CBC-Flip/

 

[samer800]

Can anyone convert the small amount of code below?

Thanks in advance!

https://www.tradingview.com/script/r9fHTyuj-CBC-Flip/

find below

#// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0
#// © friksa
#indicator("CBC Flip", overlay = true)
# Converted by Sam4Cok@Samer800    - 01/2024

input timeframe = {Default "Chart", "Custom"};
input customTimeframe = AggregationPeriod.FIFTEEN_MIN;

def cHTF = close(Period = customTimeframe);
def hHTF = high(Period = customTimeframe);
def lHTF = low(Period = customTimeframe);
def c; def h; def l;
Switch (timeframe) {
Case "Custom" :
    c = cHTF;
    h = hHTF;
    l = lHTF;
Default :
    c = close;
    h = high;
    l = low;
}
def na = Double.NaN;
def cbc;
def cbc1 = cbc[1];
if cbc1 and c < l[1] {
    cbc = no;
    } else
if !cbc1 and c > h[1] {
    cbc = yes;
    } else {
    cbc = cbc1;
}

plot dn = if !cbc and cbc[1] then high else na;
plot up = if cbc and !cbc[1] then low else na;

dn.SetPaintingStrategy(PaintingStrategy.BoOLEAN_WEDGE_UP);
up.SetPaintingStrategy(PaintingStrategy.BoOLEAN_WEDGE_DOWN);
dn.SetDefaultColor(Color.MAGENTA);
up.SetDefaultColor(Color.CYAN);

# end of CODE

 

[Mac Trader]

Convert Tradingview CBC Flip
https://www.tradingview.com/script/r9fHTyuj-CBC-Flip/#:~:text=It's useful to traders because,then bulls are in control.

 

[MerryDay]

Convert Tradingview CBC Flip
https://www.tradingview.com/script/r9fHTyuj-CBC-Flip/#:~:text=It's useful to traders because,then bulls are in control.

Here ya go:
https://usethinkscript.com/threads/cbc-flip-for-thinkorswim.17751/

 

[Agonize]

dn.SetPaintingStrategy(PaintingStrategy.BoOLEAN_WEDGE_UP);
up.SetPaintingStrategy(PaintingStrategy.BoOLEAN_WEDGE_DOWN);

Should be inverted:

dn.SetPaintingStrategy(PaintingStrategy.BOOLEAN_WEDGE_DOWN);
up.SetPaintingStrategy(PaintingStrategy.BOOLEAN_WEDGE_UP);

 

[samer800]

dn.SetPaintingStrategy(PaintingStrategy.BoOLEAN_WEDGE_UP);
up.SetPaintingStrategy(PaintingStrategy.BoOLEAN_WEDGE_DOWN);

Should be inverted:

dn.SetPaintingStrategy(PaintingStrategy.BOOLEAN_WEDGE_DOWN);
up.SetPaintingStrategy(PaintingStrategy.BOOLEAN_WEDGE_UP);

Weges_Up and Down is location not direction. i.e above the candle or below the candle.

 

[Vulcan]

Can this be modified to change candle colors based on signal?

 

[pete1123]

@samer800 Is there a way to code this as a strategy to do backtesting?

 

[mulcher93]

Could this be converted into a scan as well?