Create a custom strategy from Hull moving average

[Alex]

Hey! I would like to turn the default thinkorswim Hull moving average into a custom strategy. Whenever the color of the hull moving average slope changes its color from up / down I’d like the strategy to open / close an order only on the close of the candle / bar. In addition I would like an alert to pop up whenever all of the conditions are met. I'm not much of a coder myself so hopefully this isn't too complicated...

Here is the default thinkorswim HullMovingAvg code:

#
# TD Ameritrade IP Company, Inc. (c) 2008-2020
#

input price = close;
input length = 20;
input displace = 0;

plot HMA = MovingAverage(AverageType.HULL, price, length)[-displace];

HMA.DefineColor("Up", GetColor(1));

HMA.DefineColor("Down", GetColor(0));

HMA.AssignValueColor(if HMA > HMA[1] then HMA.color("Up") else HMA.color("Down"));

 

[metzy3]

@VenB To make a scan:

1. Save the above code as a study
2. Scan for HMAup is true

In the scan image where it says: A2_HMAplot, you need to substitute the name you saved your study as.

Hi MerryDay, I created the study with the code you provided. I would like to enter a trade exactly when it crosses and RSI is greater than 25, I thought by scripting HMAup is true would work, but afraid not. is there away to determine when it crosses?

 

[MerryDay]

Hi MerryDay, I created the study with the code you provided. I would like to enter a trade exactly when it crosses and RSI is greater than 25, I thought by scripting HMAup is true would work, but afraid not. is there away to determine when it crosses?

"when it crosses" is not a helpful mathematical definition.
I "assume" you are looking for the fast Hullma to cross the slow Hullma???
For that you would add this to the bottom of your script:

plot HMAcross= HMA1 crosses above HMA2 ;

In Scan Hacker: HMAcross is true

 

[zrt]

Hello and thank you in advance for your time. the code appears to buy sell signal based on period and not purly the color change of HMA. On a larger timr frames it becomes an issue. Would you please advise and make it so the buy and sell orders are placed solely based on HMA color change. Thanks again

hello sorry for the ignorant question. How could we make it take the trade and not just give alerts? thank you

 

[MerryDay]

@Alex, try adding this to the bottom of your code.

AddOrder(OrderType.BUY_AUTO, HMA > HMA[1]);
AddOrder(OrderType.SELL_AUTO, HMA < HMA[1]);

Alert(HMA > HMA[1] and HMA[1] < HMA[2], "BUY SIGNAL", Alert.BAR, Sound.Ring);
Alert(HMA < HMA[1] and HMA[1] > HMA[2], "SELL SIGNAL", Alert.BAR, Sound.Ring);

Make sure you add the completed code to the Strategies section. It should place simulation trades in either direction on a change in the HMA color and give alerts. If you want to backtest only buy orders, change "BUY_AUTO" and "SELL_AUTO" to "BUY_TO_OPEN" and SELL_TO_CLOSE". Hope this helps!

Hello and thank you in advance for your time. the code appears to buy sell signal based on period and not purly the color change of HMA. On a larger timr frames it becomes an issue. Would you please advise and make it so the buy and sell orders are placed solely based on HMA color change. Thanks again

hello sorry for the ignorant question. How could we make it take the trade and not just give alerts? thank you

This is designed for signals when HMA changes direction.
Yes, it is best to tailor the "periods" lengths to each timeframe and instrument that you trade.

No, there is no automated trading on the ToS platform. ToS requires manual order entry
There is conditional order entries but still each order needs to be created manually.

 

[yahloves]

Yes, it does Ben. Unfortunately, it's not allowing me to attach a snapshot. Will share over discord.

Thank you @MerryDay, I will check again as per your instructions. How do you get red/green column in the search results?

hey does anyone have the code for this, but one that has the arrow indicators I think the Ttm scalper alert

 

[MerryDay]

hey does anyone have the code for this, but one that has the arrow indicators I think the Ttm scalper alert

I see that you have asked the same question a few times.
Not sure what your question is?
What does a Hull ma strategy have to do with the TTM scalper alert?
Your post doesn't have enough information for anyone to be able to assist you.
To make sure your post gets the attention and assistance it deserves, here are a few directions to keep in mind:

• Include a screenshot of your chart and a shared chart link. This will help others understand the context of your question and allow them to replicate the conditions that you are describing.
• Annotate your image, highlighting the confluence that you're trying to achieve, along with a more detailed written explanation. This will help others understand your question even better and give them more specific information to work with.

If you're unsure of how to share chart links or upload screenshots to the forum, don't worry, we've included some easy-to-follow directions for you.
How to create a shared chart link:
https://usethinkscript.com/threads/how-to-share-a-chart-in-thinkorswim.14221/
How to upload screenshots to the forum:
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-58714


We look forward to seeing your next post and helping you out!

 

[lee_nd]

edited 1am...
@VenB Here are the plots on a chart.

TaDa.... I got the scan to work.
And I must say, that you may have something here.
It is showing some interesting potential results.

# ########################################################
# TOS HullMovingAVg
plot HMA1 = HullMovingAvg(price = HL2, length = 10); #12
plot HMA2 = HullMovingAvg(price = HL2, length = 20); #89

def HMA1up = HMA1>HMA1[1];
def HMA2up = HMA2>HMA2[1];
plot HMAup = HMA1up and HMA2up ;

def HMA1dn = HMA1<HMA1[1];
def HMA2dn = HMA2<HMA2[1];
plot HMAdn = HMA1dn and HMA2dn ;


HMA1.SetLineWeight(2);
HMA1.DefineColor("Positive", Color.violet);
HMA1.DefineColor("Negative", Color.light_orange);
HMA1.AssignValueColor(if HMA1 > HMA1[1] then HMA1.color("Positive") else HMA1.color("Negative"));
                                                                
HMA2.SetLineWeight(2);
HMA2.DefineColor("Positive", Color.green);
HMA2.DefineColor("Negative", Color.red);
HMA2.AssignValueColor(if HMA2 > HMA2[1] then HMA2.color("Positive") else HMA2.color("Negative"));

View attachment 1965

I'm new to think script and in copying the code above, I receive multiple errors around "exactly one plot is expected". Can you give me some direction here?

 

[MerryDay]

I'm new to think script and in copying the code above, I receive multiple errors around "exactly one plot is expected". Can you give me some direction here?

Here is a scanner tutorial:
https://usethinkscript.com/threads/how-to-use-thinkorswim-stock-hacker-scans.284/

 

[gn5150]

@Alex, try adding this to the bottom of your code.

AddOrder(OrderType.BUY_AUTO, HMA > HMA[1]);
AddOrder(OrderType.SELL_AUTO, HMA < HMA[1]);

Alert(HMA > HMA[1] and HMA[1] < HMA[2], "BUY SIGNAL", Alert.BAR, Sound.Ring);
Alert(HMA < HMA[1] and HMA[1] > HMA[2], "SELL SIGNAL", Alert.BAR, Sound.Ring);

Make sure you add the completed code to the Strategies section. It should place simulation trades in either direction on a change in the HMA color and give alerts. If you want to backtest only buy orders, change "BUY_AUTO" and "SELL_AUTO" to "BUY_TO_OPEN" and SELL_TO_CLOSE". Hope this helps!

how to adjust trade size parameter? It's missing from properties window

 

[halcyonguy]

how to adjust trade size parameter? It's missing from properties windowView attachment 20238

look up addorder and learn what the input parameters are.
https://tlc.thinkorswim.com/center/reference/thinkScript/Functions/Others/AddOrder

then add input variable to ask for a size
then use it as a parameter.

size is 4th.
study currently uses 2. so you need to specify the 3rd , and then 4th (size)