Connors 2 Period RSI Trading Indicator for ThinkorSwim

[martyrjohn]

Is it possible to create a scanner with the following conditons. Any help would be greatly apperciated.
1.The stock price must be above $5 per share.
2. The stock’s average daily volume over the past 21 days (one trading month) must be at least 250,000 shares per day.
3. The stock’s 10‐day Average Directional Index (ADX) is above 30.
4. Today the stock’s lowest price is at least 8% below the previous day’s close.
5. Today’s close is in the bottom 25% of the day’s range.
6. The ConnorsRSI(3,2,100) value of the stock is below 5


Here is the connorsrsi indicator for the scan:

# ConnorsRSI Indicator
declare lower;
input Price_RSI_Period = 3;
input Streak_RSI_Period = 2;
input Rank_Lookback = 100;
# Component 1: the RSI of closing price
def priceRSI = reference RSI("price" = close, "length" = Price_RSI_Period);
# Component 2: the RSI of the streak
def upDay = if close > close[1] then 1 else 0;
def downDay = if close < close[1] then -1 else 0;
def upStreak = if upDay != 0 then upStreak[1] + upDay else 0;
def downStreak = if downDay != 0 then downStreak[1] + downDay else 0;
def streak = upStreak + downStreak;
def streakRSI = reference RSI("price" = streak, "length" = Streak_RSI_Period);
# Component 3: The percent rank of the current return
def ROC1 = close / close[1] - 1;
def rank = fold i = 1 to Rank_Lookback + 1 with r = 0 do
r + (GetValue(ROC1, i, Rank_Lookback) < ROC1) ;
def pctRank = (rank / Rank_Lookback) * 100 ;
# The final ConnorsRSI calculation, combining the three components
plot ConnorsRSI = (priceRSI + streakRSI + pctRank) / 3;

Thank you for the Help!

 

[Vimal Mittal]

@martyrjohn I scanned and some of the results are not accurate. look at stocks like HD, LIN, NEE and COST not accurate? Can you tweak more accurate? Maybe RSI 2 Conners scan needs to be modified or because RSI should be wilder type ? I am not the expert.

 

[wborden44]

Any savvy geniuses out there - what does "rec usage is not allowed in this context" mean when I'm trying to set an alert for a custom indicator script (ConnorsRSI)? I also get "Error: script execution timeout" constantly when trying to run scans using this indicator. Indicator works fine on the charts. Alerts and scans are buggy. Any help is appreciated. Thank you!

 

[Matthew.w.mickey]

Hey all i am a newby trying to find my adult job. I have been in the army since the day after 9/11. I retire from 20 years. I am an infantryman and know my body is broke and won't be able to do physical labor when I am older. haha. I am somewhat new to the market and really enjoy all the coding and charting. I don't know how to code or strategy. I am doing the thinkorswim education on it. I find it very helpful.
I found a strategy that I would like to try
I will do try. I am trying to find away to code this strat For tos And trading view.

Cm rsi 2 lower strat
Money flow index
Rsi
Together and have a buy indicator
Cm under 3
Mfi under 20
Rsi 30 or less

Also I am trying to find a way to find support when these criteria are met.

Can someone point me in the right direction

 

[generic]

@Matthew.w.mickey This will color your candles cyan if all 3 conditions are met.

declare upper;

input length = 14;
input over_Bought = 70;
input over_Sold = 30;
input length_connor = 2;
input overbought_connor = 90;
input oversold_connor = 3;
input price = close;
input averageType = AverageType.WILDERS;
input overSold_MFI = 20;
input overBought_MFI = 80;
input length_MFI = 14;
input movingAvgLength_MFI = 1;

def NetChgAvg = MovingAverage(averageType, price - price[1], length);
def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;

def RSI = 50 * (ChgRatio + 1);

def NetChgAvg_connor = MovingAverage(averageType, price - price[1], length_connor);
def TotChgAvg_connor = MovingAverage(averageType, AbsValue(price - price[1]), length_connor);
def ChgRatio_connor = if TotChgAvg_connor != 0 then NetChgAvg_connor / TotChgAvg_connor else 0;

def RSI_connor = 50 * (ChgRatio_connor + 1);

def MoneyFlowIndex = Average(moneyflow(high, close, low, volume, length_MFI), movingAvgLength_MFI);

AssignPriceColor(if RSI < over_Sold and RSI_connor < oversold_connor and MoneyFlowIndex < overSold_MFI then color.CYAN else color.CURRENT);