Repaints Cup and Handle Indicator for ThinkorSwim

[rob321]

Just tried it out. IMHO the Cup & Handle scan works reasonably well for finding some pre breakout C & H setups. It definitely finds stocks with a bowl/cup shape. E.g. GGG and OCFC. Interesting given the complexity of the task it attempts to execute. Most hits are loose approximations but some seem close enough to warrant a place on a watchlist. I found it helpful, after collecting a few tickers from my scan, to look at my chart on daily or weekly or monthly settings to get the "cleanest" pattern depending on each stock.

 

[Break Trader]

I wonder if there was a way to add something like a flag type indicator to the end of this to show / form a handle

 

[tradelex20]

i added my oval code to make the arc for the cup
https://usethinkscript.com/threads/experimental-draw-an-oval-circle-in-thinkorswim.11517/

this only has about 1/2 the rules applied, so some cups found won't be accurate.

i didn't clean it up. it's long and sloppy.

#cup_n_handle_03g


# test with EBAY  day chart


#https://usethinkscript.com/threads/attempt-at-cup-and-handle-pattern.17536/#post-135874
#Attempt at Cup and Handle Pattern
#bulusufinances  12/24


# from current bar, look back for a cup-handle

# copy and rewrite rules from this site
# https://www.breakoutwatch.com/bootstrapAssets/html/cupandhandlepattern.html
# replace days , with bars

# r01  Current Close ,  close >= 6 and close >= ( 0.95 of ma200)

# r02  Pivot  , Highest high , end of cup, beginning of the Handle.  within last 90 bars

# r03  Pivot price % of Left Cup ,  Difference between the Left Cup and the Pivot, expressed as a percentage of the Left Cup.   %  <= +5% and % >= -40%

# r04  Left Cup , Highest high , beginning of the correction.    >= 25 days and <=325 bars from the pivot

# r05  Cup length to Handle length Ratio , cup bars >= ( 3 x handle bars)

# r06 , Prior Low  , lowest low before the cup left,   price Rise from Prior Low to Left Cup >=30%
# r06b  Setup Gain %    The rise from the prior low to the left cup measured as a percentage of the prior low , >= 30%

# r07  Base Low    Lowest low within the Cup.

# r08  Cup Depth   price Difference between the Left Cup and Base Low, expressed as a percentage of the Left Cup.   <=60%

# r09  Handle Depth    Difference between the Pivot and the Handle Low, expressed as a percentage of the Pivot.    <= 30%

# r10  Midpoint of Base    Price which marks half the distance between the Left Cup and the Base Low.    None

# r11  Midpoint of Handle    Price which marks half the distance between the Pivot and the Handle Low.    >= Midpoint of Base

#The stock must also meet these technical criteria to improve the chances of a successful breakout:     
# r1b  Current Close    The price at which the stock closed today.    >= $6

# r12  Average Volume    The average daily volume over the last 50 days    >=30,000

# r13  Relative Strength (RS)Rank    The stock’s weighted price appreciation over the prior year, as ranked against all other stocks in our database.    >=80




#---------------



#-----------------------
# copy the rules and add code


def na = double.nan;
def bn = barnumber();
def cls = close;
#def lastbar = (!isnan(close) and isnan(close[-1]));
def lastBar = HighestAll(if IsNaN(close) then 0 else bn);
#def lastbar = if l
def big = 99999;


# choose_wick_body01
input candle_levels = {default "wick" , "body" };
def highx;
def lowx;
switch (candle_levels) {
case "wick":
  highx = high;
  lowx = low;
case "body":
  highx = max(open, close);
  lowx = min(open, close);
}


#--------------------------
#https://usethinkscript.com/threads/zigzag-high-low-with-supply-demand-zones-for-thinkorswim.172/#post-7048
#post10  robert
#  +------------------------------------------------------------+
#  |  Example: How to extend levels to the right of the chart   |
#  |                        Robert Payne                        |
#  |               https://funwiththinkscript.com               |
#  +------------------------------------------------------------+
# define peaks / valleys
#def na = double.nan;
#def bn = BarNumber();
input peak_length = 10;
#def lastBar = HighestAll(if IsNaN(close) then 0 else bn);
def offset = Min(peak_length - 1, lastBar - bn);
def peak = highx > Highest(highx[1], peak_length - 1) and highx == GetValue(Highest(highx, peak_length), -offset);
def valley = lowx < Lowest(lowx[1], peak_length - 1) and lowx == GetValue(Lowest(lowx, peak_length), -offset);

input peak_valley_arrows = yes;
plot zhi = if peak_valley_arrows and peak then high*1.001 else na;
plot zlo = if peak_valley_arrows and valley then low*0.999 else na;
zlo.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
zlo.SetDefaultColor(Color.red);
zlo.setlineweight(1);
zlo.hidebubble();
zhi.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
zhi.SetDefaultColor(Color.green);
zhi.setlineweight(1);
zhi.hidebubble();


#------------------------







#-------------------------------
# rules and code
#  find offsets to signals, then calc barnumbers


# r01  Current Close ,  close >= 6 and close >= ( 0.95 of ma200)
input min_price = 6.0;
input avg1_type = AverageType.Simple;
input avg1_length = 200;
def avg1 = MovingAverage(avg1_type , cls , avg1_length );
input avg_factor = 0.95;
def r01 = (cls >= min_price) and (cls >= (avg_factor * avg1));
input show_average_line = no;
plot zavg1 = if show_average_line then avg1 else na;


# r02  Pivot  , Highest high , end of cup, beginning of the Handle.  within last 90 bars
#   my added rule -  pivot should be higher than current price
# offset to pivot bar , handle_len
def pivot_len = 90;
# pivot_off
def handle_len = fold a1 = 0 to pivot_len
  with p1
  while !getvalue(peak,a1)
  do p1+1;

def pivot_bn = if handle_len == pivot_len then 0 else highestall(if isnan(close) then 0 else (bn - handle_len));
def pivot = getvalue(highx, (bn - pivot_bn));

input test_r2 = no;
addchartbubble(test_r2, low*0.998,
bn + " bn\n" +
handle_len + " pivoff\n" +
pivot_bn + " pivbn\n" +
pivot + " piv"
, color.white, no);


# move down and add conditions to this formula
def cancel = if (pivot_bn == 0 or 0) then 1 else 0;
addlabel(cancel, " cancel , no cup-handle found ", color.cyan);


# r03


# r04  Left Cup , Highest high , beginning of the correction.    >= 25 days and <=325 bars from the pivot

def pivotleftoffmin = 25;
def pivotleftoffmax = 325;
def left_start = (handle_len + pivotleftoffmin);
#def leftlenmax = pivotleftoffmax - left_start;
def leftlenmax = (handle_len + pivotleftoffmax);


# find prev peak , left side of cup
def left_off = fold a2 = handle_len + 1 to (pivotleftoffmax + handle_len)
  with p2 = handle_len+1
  while !getvalue(peak,a2)
  do p2+1;

def left_bn = if left_off == leftlenmax then 0 else highestall(if isnan(close) then 0 else (bn - (handle_len + left_off)));
def left = getvalue(highx, (bn - left_bn));

def cup_bars = pivot_bn - left_bn;


input test_r4 = no;
addchartbubble(test_r4, low*0.99,
bn + " bn\n" +
left_off + " leftoff\n" +
left_bn + " leftbn\n" +
left + " left\n" +
cup_bars + " cup"
, color.white, no);



# r03  Pivot price % of Left Cup ,  Difference between the Left Cup and the Pivot, expressed as a percentage of the Left Cup.   %  <= +5% and % >= -40%

def leftpivpermin = -40;
def leftpivpermax = 5.0;
def leftpivot_per = round(100*(left-pivot)/left,1);
def isleftper = leftpivot_per > leftpivpermin and leftpivot_per < leftpivpermax;


input test_r3 = no;
addchartbubble(test_r3, low*0.99,
 bn + " bn\n" +
 left + " lt\n" +
 pivot + " piv\n" +
 leftpivot_per + " %\n" +
 isleftper + "\n"
, color.white, no);





# r05  Cup length to Handle length Ratio , cup bars >= ( 3 x handle bars)
def ratio_min = 3.0;
def cuphandleratio = cup_bars/handle_len;
def iscupratio = cuphandleratio >= ratio_min;

input test_r5 = no;
addchartbubble(test_r5, low*0.99,
 bn + " bn\n" +
"cup len ratio\n" +
 cuphandleratio + "\n" +
 iscupratio + " is"
, color.white, no);




# r06 , Prior Low  , lowest low before the cup left,   price Rise from Prior Low to Left Cup >=30%
# r06b  Setup Gain %    The rise from the prior low to the left cup measured as a percentage of the prior low , >= 30%




# r07  Base Low    Lowest low within the Cup.
# offset to base low, from pivot
#def base_off = GetMinValueOffset(lowx[handle_len], cup);
def base_min = fold a3 = handle_len to cup_bars + handle_len
with p3 = big
do min(p3,getvalue(lowx,a3));

def base_off = fold a4 = handle_len to cup_bars + handle_len
  with p4
  do if base_min == getvalue(lowx, a4) then a4 else p4;
 

def base_bn = highestall(if isnan(close) then 0 else (bn - (base_off+handle_len)));
def base = getvalue(lowx, (bn - base_bn));



input test_r7 = no;
addchartbubble(test_r7, low*0.99,
 bn + " bn\n" +
base_off + " Basoff\n" +
base_bn + " Bbn"
, color.white, no);



# r08  Cup Depth   price Difference between the Left Cup and Base Low, expressed as a percentage of the Left Cup.   <=60%

# r09  Handle Depth    Difference between the Pivot and the Handle Low, expressed as a percentage of the Pivot.    <= 30%

# r10  Midpoint of Base    Price which marks half the distance between the Left Cup and the Base Low.    None

# r11  Midpoint of Handle    Price which marks half the distance between the Pivot and the Handle Low.    >= Midpoint of Base

#The stock must also meet these technical criteria to improve the chances of a successful breakout:     
# r1b  Current Close    The price at which the stock closed today.    >= $6

# r12  Average Volume    The average daily volume over the last 50 days    >=30,000

# r13  Relative Strength (RS)Rank    The stock’s weighted price appreciation over the prior year, as ranked against all other stocks in our database.    >=80





input test_bn = no;
addchartbubble(test_bn, low*0.99,
 bn + " bn"
, color.white, no);


#def bubs = (pivot_bn == bn or left_bn == bn or base_bn == bn);

input test1_data = yes;
addchartbubble(test1_data and pivot_bn == bn, high*1.01,
# bn + "  BN\n" +
 "PIVOT\n" +
 pivot_bn + " bn\n" +
 pivot
, color.cyan, yes);


addchartbubble(test1_data and left_bn == bn, high*1.01,
# bn + "  BN\n" +
 "LEFT\n" +
 left_bn + "\n" +
 left
, color.cyan, yes);


addchartbubble(test1_data and base_bn == bn, low*0.99,
# bn + "  BN\n" +
 "BASE\n" +
 base_bn + "\n" +
 base
, color.cyan, no);





#///////////////////////////////////////////





#///////////////////////////////////////////

#  circle

# circle_2points_0e

#https://usethinkscript.com/threads/experimental-draw-an-oval-circle-in-thinkorswim.11517/
#draw 2 ovals.

#define 2 points, by entering a date and time for each.
#draw a line connecting those points. this line will be the diameter and will be diagonal.
#calculate a horizontal diameter. (the oval will be wider than the 2 points)
#draw 2 arcs, for the top half and bottom half of the oval.
#this will be the outer oval.
#the center is marked with a yellow square.

#a 2nd smaller oval is drawn.
#it will have a width of the time span between the 2 points.
#the arc lines are not drawn on the date-time bars. (i don't remember why)

#i used different colors on the arcs, to show how they are drawn.

#i set the 2 dates as 5/20 and 5/31.
#set a chart to 30 days. mine is at 15min 30days


# circle_2points_0e

# https://usethinkscript.com/threads/drawing-a-circle-on-the-chart.10485/
# Drawing a Circle on the chart

#-------------------------------------------
#https://www.math.net/circle-formula
#Given that point (x, y) lies on a circle with radius r centered at the origin of the coordinate plane, it forms a right triangle with sides x and y, and hypotenuse r. This allows us to use the Pythagorean Theorem to find that the equation for this circle in standard form is:

#x^2 + y^2 = r^2

# adjusted radz  -  pythagorean
#  r^2 = x^2 + y^2

# calc y
#  y^2 = r^2 - x^2
#  y = sqrt ( r^2 - x^2 )

#-------------------------------------------
#https://jshingler.github.io/TOS-and-Thinkscript-Snippet-Collection/TOS%20&%20Thinkscript%20Collection.html#c-draw-a-line-between-two-price-points
# jshingler web site
#C-DRAW A LINE BETWEEN TWO PRICE POINTS
#Hint: Draws a line between to points defined by dates, times and price type
#Developed by RCG3 and StanL on the ThinkScript Lounge 1/2/14
#-------------------------------------------

#def na = double.nan;
#def bn = barnumber();

def bn1_date = if bn == 1 then GetYYYYMMDD() else bn1_date[1];

input time1 = 1130; #hint time1: EST , Time of first point using the 24-hour clock
input date1 = 20230911; #hint date1:Date of the first point in YYYYMMDD format
input time2 = 1300; #hint time2: EST , Time of second point using the 24-hour clock
input date2 = 20231211; #hint date2: Date of the first point in YYYYMMDD format
input price = close; #hint price: Select the price type desired


def date1ok = (date1 < bn1_date);
input show_dates = no;
addlabel(show_dates and date1ok, "1st date is off the chart", (if date1ok then color.red else color.gray));
#addlabel(show_dates, "1st bar date " + bn1_date, color.yellow);
addlabel(show_dates, "1st date " + date1, color.yellow);
addlabel(show_dates, "2nd date " + date2, color.yellow);

def date= getyyyymmdd();
def x1= if secondsfromtime(time1) == 0 and date1==date then barnumber() else x1[1];
def y1= if secondsfromtime(time1) == 0 and date1==date then price else y1[1];
def x2= if secondsfromtime(time2) == 0 and date2==date then barnumber() else x2[1];
def y2= if secondsfromtime(time2) == 0 and date2==date then price else y2[1];

#def x11= highestall(x1);
#def y11= highestall(y1);
#def x22= highestall(x2);
#def y22= highestall(y2);


def cup_top = max(left, pivot);
def cup_ht = cup_top - base;


def x11 = left_bn;
def y11 = cup_top;
def x22 = pivot_bn;
def y22 = cup_top;



def slope= (y22-y11)/(x22-x11);

#plot line = if x1!=0 and x2[1]==0 then y1+((barnumber()-x1)*slope) else double.nan;
#line.setdefaultcolor(color.pink);



#def  Angle_deg = ATan(slope) * 180 / Double.Pi;

#addLabel(yes, "Slope = " +  Angle_deg + "degrees", color.CYAN);#Angle printout has no consistency at various aggs
#alert(price crosses line, "Price crossed trendline", alert.once,sound.chimes);# uncomment this line if used as a trendline

#  ----------------------------------
# width of 2 points
def point_width = x22 - x11;

# horz width between 2 points
def point_width_half = floor(point_width/2);

#  ----------------------------------
# height of 2 points
def maxy = max(y11, y22);
def miny = min(y11, y22);

def point_height = maxy - miny;
def point_height_half = round(point_height/2, 2);

#  ----------------------------------
# center point of circle
def centerx = (x11 + point_width_half);
def centery = (miny + point_height_half);

#  ----------------------------------

input test_arc_labels = no;

#addlabel(test_arc_labels, "bars |" + x1 + "|" + width + "|" + x22 , color.yellow);
#addlabel(test_arc_labels, "$$ |" + y1 + "|" + height + "|" + y22 , color.yellow);

addlabel(test_arc_labels, "bars " + x22 + " - " + x11 + " = " + point_width + " |  1/2 = " + (point_width/2), color.yellow);
addlabel(test_arc_labels, "$$ " + maxy + " - " + miny + " = " + point_height, color.yellow);

#  ----------------------------------

# adjusted rad  -  pythagorean
#input height_factor = 13.0;
input height_factor = 1.0;
#def height0 = halfheight * height_factor;
def point_yfac = point_height_half * height_factor;


# use center x,y point and one x,y point, into pathagorean therum to calc hypot = radius
# horz rad , adjusted bar qty of a radius that spans the circle
def radz = floor(sqrt( point_width_half*point_width_half + point_yfac*point_yfac));

addlabel(test_arc_labels, "x " + point_width_half + " |  y " + point_yfac, color.white);
addlabel(test_arc_labels, "adj rad, bars " + radz, color.white);


#  ----------------------------------
#////////////////////////////////////////////


# the bars within the circle
#def circle_bars3 = if ( bn >= floor(x11 - radz) and bn <= floor(x22 + radz)) then 1 else 0;
def circle_bars3 = if ( bn >= floor(centerx - radz) and bn <= floor(centerx + radz)) then 1 else 0;

def barx3 = if !circle_bars3 then na else floor(absvalue(centerx - bn));

def arc_ht = sqrt(radz * radz);



input test4 = no;
addchartbubble(test4 and circle_bars3,low,
 bn + "\n" +
 x11 + " x1\n" +
 x22 + " x2\n" +
 circle_bars3 + "\n" +
 centerx + " c\n" +
 radz + " Rz\n" +
 arc_ht + " Aht"
, (if circle_bars3 then color.yellow else color.gray),no);


# y = sqrt ( r^2 - x^2 )

#def y = sqrt( radz*radz -
def circle_y3 = if !circle_bars3 then na else sqrt( (radz * radz) - (barx3 * barx3) );

#def facy = cup_ht / (centery - circle_y3);
# ratio of arc ht to cup ht.  to scale the arc
def facy = cup_ht / arc_ht;


addchartbubble(0 and circle_bars3, low, facy, color.white, no);





#input yfactor3 = .08;
#input yfactor3 = .2;
#input yfactor = .04;
def yfactor3 = facy;


#plot ytop3 =  centery + (circle_y3 * yfactor3);
plot ybot3 = centery - (circle_y3 * yfactor3);
#ytop3.SetDefaultColor(Color.cyan);
ybot3.SetDefaultColor(Color.cyan);


#  ----------------------------------

input rad_factor = 0.5;
#input y_factor = 0.5;
def rad_fac_num = floor(x11*rad_factor);
def bnsmall = x11 - rad_fac_num;
def bnbig = x22 + rad_fac_num;

# ---------------------

# pythag  radz
#def bnsmall = x11 - rad_fac_num;
#def bnbig = x22 + rad_fac_num;

# ----------------------

addlabel(0, "small bns " + bnsmall + " " + x11, color.cyan);
addlabel(0, "big bns " + x22 + " " + bnbig, color.cyan);


#def circle_bars = if ( bn >= x11 and bn <= x22) then 1 else 0;
def circle_bars = if ( bn >= floor(x11*(1-rad_factor)) and bn <= floor(x22*(1+rad_factor))) then 1 else 0;



# -----------------------------------------
# def y = (pt1price + pt2price ) / 2;
#calc x and y center

#calc
#calc y
# y^2 = r^2 - x^2
# y = sqrt ( r^2 - x^2 )


# radius bars
def rad1 = centerx - x11;
#def rad2 = floor((x11 + x22)/2);

#addlabel(1, "rad0 " + rad0, color.yellow);
addlabel(test_arc_labels, "point_x " + point_width_half, color.yellow);


addlabel(test_arc_labels, "rad1 " + rad1, color.cyan);
#addlabel(1, "rad2 " + rad2, color.cyan);


# 2 pt height diff  used to make factor ??
#input rad_factor = 1.0;


# if bars >= circle bars <=  ,   centerx - bn
def barx = if !circle_bars then na else floor(absvalue(centerx - bn)*rad_factor);


#def radx = rad0 * rad_factor;
def radx = point_width_half * rad_factor;

# y = sqrt ( r^2 - x^2 )
# circle_bars
#def circley = if !circle_bars then na else sqrt( (rad0 * rad0) - (barx * barx) );
def circley = if !circle_bars then na else sqrt( (radx * radx) - (barx * barx) );


#input yfactor = .08;
#input yfactor = .04;
#plot ytop =  centery + (circley * yfactor);
#plot ybot =  centery - (circley * yfactor);
#ytop.SetDefaultColor(Color.magenta);
#ybot.SetDefaultColor(Color.violet);


addlabel(test_arc_labels, "center x " + centerx, color.yellow);
addlabel(test_arc_labels, "center y " + centery, color.yellow);

# center point
input show_arc_center = no;
plot ctr = if show_arc_center and bn == centerx then centery else na;
ctr.SetPaintingStrategy(PaintingStrategy.SQUARES);
ctr.SetDefaultColor(Color.yellow);
ctr.setlineweight(4);
#ctr.hidebubble();


# --------------------------------
# test codes

input test2 = no;
addchartbubble(test2, low,
 bn + "\n" +
 centerx + "\n" +
 centery
, ( if ( bn == centerx) then color.yellow else color.gray), no);


input test1 = no;
addchartbubble(test1, low,
x1 + "\n" +
y1 + "\n" +
x2 + "\n" +
y2 + "\n" +
x22 + "\n" +
y22 + "\n" +
slope
, color.yellow, no);


#-------------------------------------------

# ref codes

#from tos chat - mobius
def data = getYYYYMMDD();
def year = Round(data/10000, 0);
def month = Round((data % 10000) / 100, 0);
def day = (data % 100);
#addLabel(1, "date: " + month + "/" + day + "/" + AsPrice(year), color.white);
#


#AMZN 15min 5/2022

#//////////////////////////////////////
#

DOW day chart

I was wondering whether these arrows repaint. Thanks

 

[useThinkScript]

I was wondering whether these arrows repaint. Thanks

yes, pivots repaint, if price breaks through the highs or lows.