declare real_size in ThinkOrSwim

[MerryDay]

How To Overlay Indicators Of The Same Scale Onto Lower Charts:

When it comes to overlaying indicators on a lower chart, there are a few things to keep in mind.
If the indicators are not of the same scale, the results can be misleading, even if they look impressive at first glance.
ToS automatically resizes indicator outputs to fit on the chart, which can create a beautiful but ultimately meaningless overlaying pattern.

Even when overlaying studies of the same scale, you may still encounter issues. This is because ToS doesn't automatically recognize that they're the same scale and will still plot them relative to each other, leading to inaccurate results.

But don't worry - there is a solution! If you're overlaying studies of the same scale, simply insert the statement "declare real_size;" into each script, and you should see accurate and reliable results.

Just remember, this technique should not be used with indicators of differing scales.
Bound oscillators with non-comparable scales, need to be normalized to the same scale so they can be analyzed "relative" to each other.
read more here: https://usethinkscript.com/threads/normalized-macd-for-thinkorswim.9502/

 

[DudeDastic]

Hello,

While looking at the /NQ futures chart with the Trendilo and ImpulseMACD indicators on it, I decided to overlap the indicators and noticed something interesting. Whenever the main Trendilo plot crossed below the ImpulseSignal line, it indicated a short. Likewise whenever the main Trendilo plot crossed above the ImpulseSignal line, it indicated a long.

The issue with overlapping indicators on TOS is that their positions change when scrolling. To combat that issue, I've attempted to combine the indicators into one (using default settings for both). The issue I'm having is that the Trendilo plot displays as a straight line when it should be anything but. It only displays correctly when I hide the ImpulseSignal line. I need them both to show.

Here's my code:

declare lower;

input src = hlc3;                 # 'Source'


#-- Trendilo
def Smoothing = 1;                # 'Smoothing'
def Lookback = 50;                # 'Lookback'
def almaOffset = 0.85;            # 'ALMA Offset'
def almaSigma = 6;                # 'ALMA Sigma'
def BandMultiplier = 1.0;         # 'Band Multiplier'
def useCustomBandLength = no;     # 'Custom Band Length ? (Else same as Lookback)')
def CustomBandLength = 20;        # 'Custom Band Length'

script ALMA {
    input series = close;
    input windowsize = 9;
    input Offset = 0.85;
    input Sigma = 6;
    def m = Offset * (windowsize - 1);
    def s = windowsize / Sigma;
    def norm  = fold z = 0 to windowsize with CW do
         CW + Exp(-(Sqr(z - m)) / (2 * Sqr(s)));
    def sum  = fold y = 0 to windowsize with WS do
         WS + Exp(-(Sqr(y - m)) / (2 * Sqr(s))) * GetValue(series, windowsize - 1 - y);
    plot ALMA = sum  / norm ;
}

def change = src - src[Smoothing];
def pch = change / src * 100;
def avpch = alma(pch, Lookback, almaOffset, almaSigma);
def blength = if useCustomBandLength then CustomBandLength else Lookback;
def rms = BandMultiplier * Sqrt(Sum(avpch * avpch, blength) / blength);
def cdir = if avpch > rms then 1 else if avpch < -rms then -1 else 0;

#-- plot
plot fplot = Round(avpch, 4);
fplot.SetLineWeight(2);
#fplot.AssignValueColor(if cdir > 0 then Color.GREEN else if cdir < 0 then Color.RED else Color.GRAY);
#-- END OF CODE



#-- Impulse MACD
def lengthMA = 34;
def lengthSignal = 9;

script calc_smma {
    input src = close;
    input len = 34;
    def smma = if isNaN(smma[1]) then SimpleMovingAvg(src, len) else (smma[1] * (len - 1) + src) / len;
    plot return = smma;
}

script calc_zlema {
    input src = close;
    input length = 34;
    def ema1 = ExpAverage(src, length);
    def ema2 = ExpAverage(ema1, length);
    def d    = ema1 - ema2;
    def zelma = ema1 + d;
    plot return = zelma;
}

def hi = calc_smma(high, lengthMA);
def lo = calc_smma(low, lengthMA);
def mi = calc_zlema(src, lengthMA);

def md = if (mi > hi) then (mi - hi) else if (mi < lo) then (mi - lo) else 0;
def sb = SimpleMovingAvg(md, lengthSignal);

#-- plot
plot ImpulseSignal = sb;
ImpulseSignal.SetDefaultColor(Color.WHITE);
ImpulseSignal.SetLineWeight(2);
#-- End Code

Can someone show me what I'm doing wrong?

Thanks in advance.

 

[useThinkScript]

Hello,

While looking at the /NQ futures chart with the Trendilo and ImpulseMACD indicators on it, I decided to overlap the indicators and noticed something interesting. Whenever the main Trendilo plot crossed below the ImpulseSignal line, it indicated a short. Likewise whenever the main Trendilo plot crossed above the ImpulseSignal line, it indicated a long.

The issue with overlapping indicators on TOS is that their positions change when scrolling. To combat that issue, I've attempted to combine the indicators into one (using default settings for both). The issue I'm having is that the Trendilo plot displays as a straight line when it should be anything but. It only displays correctly when I hide the ImpulseSignal line. I need them both to show.

Here's my code:

declare lower;

input src = hlc3;                 # 'Source'


#-- Trendilo
def Smoothing = 1;                # 'Smoothing'
def Lookback = 50;                # 'Lookback'
def almaOffset = 0.85;            # 'ALMA Offset'
def almaSigma = 6;                # 'ALMA Sigma'
def BandMultiplier = 1.0;         # 'Band Multiplier'
def useCustomBandLength = no;     # 'Custom Band Length ? (Else same as Lookback)')
def CustomBandLength = 20;        # 'Custom Band Length'

script ALMA {
    input series = close;
    input windowsize = 9;
    input Offset = 0.85;
    input Sigma = 6;
    def m = Offset * (windowsize - 1);
    def s = windowsize / Sigma;
    def norm  = fold z = 0 to windowsize with CW do
         CW + Exp(-(Sqr(z - m)) / (2 * Sqr(s)));
    def sum  = fold y = 0 to windowsize with WS do
         WS + Exp(-(Sqr(y - m)) / (2 * Sqr(s))) * GetValue(series, windowsize - 1 - y);
    plot ALMA = sum  / norm ;
}

def change = src - src[Smoothing];
def pch = change / src * 100;
def avpch = alma(pch, Lookback, almaOffset, almaSigma);
def blength = if useCustomBandLength then CustomBandLength else Lookback;
def rms = BandMultiplier * Sqrt(Sum(avpch * avpch, blength) / blength);
def cdir = if avpch > rms then 1 else if avpch < -rms then -1 else 0;

#-- plot
plot fplot = Round(avpch, 4);
fplot.SetLineWeight(2);
#fplot.AssignValueColor(if cdir > 0 then Color.GREEN else if cdir < 0 then Color.RED else Color.GRAY);
#-- END OF CODE



#-- Impulse MACD
def lengthMA = 34;
def lengthSignal = 9;

script calc_smma {
    input src = close;
    input len = 34;
    def smma = if isNaN(smma[1]) then SimpleMovingAvg(src, len) else (smma[1] * (len - 1) + src) / len;
    plot return = smma;
}

script calc_zlema {
    input src = close;
    input length = 34;
    def ema1 = ExpAverage(src, length);
    def ema2 = ExpAverage(ema1, length);
    def d    = ema1 - ema2;
    def zelma = ema1 + d;
    plot return = zelma;
}

def hi = calc_smma(high, lengthMA);
def lo = calc_smma(low, lengthMA);
def mi = calc_zlema(src, lengthMA);

def md = if (mi > hi) then (mi - hi) else if (mi < lo) then (mi - lo) else 0;
def sb = SimpleMovingAvg(md, lengthSignal);

#-- plot
plot ImpulseSignal = sb;
ImpulseSignal.SetDefaultColor(Color.WHITE);
ImpulseSignal.SetLineWeight(2);
#-- End Code

Can someone show me what I'm doing wrong?

Thanks in advance.

https://usethinkscript.com/threads/declare-real_size-in-thinkorswim.14506/#post-119945

 

[DudeDastic]

https://usethinkscript.com/threads/declare-real_size-in-thinkorswim.14506/#post-119945

Thank you!

 

[DigitsM]

@SleepyZ @Sammy800 @MerryDay
I have been using a combination of AccumDistrBuyPr and SchocasticSlow from Thinkorswim in a lower chart to infer lows. see attached (inserted)

While it is easier to overlay these on a chart, I am having difficulties combining the codes to work for a scan. I did use the traditional thinkorswim scan filter

Basically, I ask for a scan when the accumdistrBuyPr line coincides with the 0 or less than 1 line of Scholastic slow when the OS % is set to 1.

This works, but the problem is I still get tickers in the scan that in no way meets the criteria.
Could you help check, what am I doing wrong.

Thanks

 

[useThinkScript]

@SleepyZ @Sammy800 @MerryDay
I have been using a combination of AccumDistrBuyPr and SchocasticSlow from Thinkorswim in a lower chart to infer lows. see attached (inserted)

View attachment 24332

While it is easier to overlay these on a chart, I am having difficulties combining the codes to work for a scan. I did use the traditional thinkorswim scan filter

Basically, I ask for a scan when the accumdistrBuyPr line coincides with the 0 or less than 1 line of Scholastic slow when the OS % is set to 1.

This works, but the problem is I still get tickers in the scan that in no way meets the criteria.
Could you help check, what am I doing wrong.

Thanks

Your indicators are of different scales.
The AccumDistBuyPr is a tiny little elf
The StochasticSlow is a jolly green giant
As you can see from the number scale on the right-side of the chart

When you asked ToS to stuff them into the same lower chart.
It produced a lower chart that does not exist in reality.

Here is what they really look like in reality, when stuffed into the same lower chart using function:
declare real_size;

Bound oscillators can be normalized to the same scale, so they can be analyzed "relative" to each other.

Sadly, AccumDistBuyPr is an unbound oscillator (it has no consistent upper and lower boundary); which means that is cannot be normalized.

Conclusion: there is no relative movement between Stoch and AccumDist that can be analyzed.

Read through the whole above thread to learn more about overlaying indicators into the same lower chart.

 

[DigitsM]

Thanks much.