DEEPWATER_THE ONE For ThinkOrSwim

[Deepwater]

I call this study THE ONE. It is basically throw everything but the kitchen sink into one study that would help both a new trader and an experienced trader, Alerts me to things gapping, stocks suddenly seeing large volume, stocks with RSIs in extreme ranges. There are so many widgets of script in here that I look forward to others trying to improve it for the group. It is my payback to all of you who taught me so much and were unselfish with your knowledge and code. This is the one study I can not live without. I have 3 monitors and 30 charts I watch and "THE ONE" is the only indicator under each chart. I recently added what I call cumulative RSI extreme to it. What it does is if RSI goes overbought or oversold it starts cumulating and incrementing a count that seems to give a pretty good sell or buy signal. I have never seen this done and it is some neat code. I also look at MACD as it rounds over the top or bottom to trigger buy or sell signals. I do this with Spikes. Spikes from the top down are sells. Spikes from the Bottom up are buys. IT MAY BE THE EASIEST STUDY AS FAR AS SIGNALING. IF SOMETHING IS IN ALERT AND NEEDS A LOOK YOU GET AN ALERT. EASY FOR NOVICE and NEWBIES. Just load it and watch it for a week. This is not financial advice. it is a tool to help you make your own decisions.

FOREX or SPX type Indexes use code on page 10

P.S. The code will give signals a bit differently on different time scales so always look at charts that are say 1D 1Min, 2D 5Min and 10D 30Min (these are only examples) and compare the buy and sell signals it's giving you. I am Also running BillWilliams Indicator and Christpher84 ConfirmationCandles (without the arrows) upper and CC Candles Lower Indicators plus I also am running RSI with a RSI Avg only on my main screen chart.
5/17/2021 Added a stronger Buy indicator discriminator for Yellow/Green Buy Spikes.
5/20/2021 Added a stronger buy signal (taller) if a second buy comes within 14 candles of a previous strong buy. Changed Line Width to 2 or 3 to sharpen signal visibility. Reordered plot of yellow line to be after plot of stronger Green buys therefore you should only see Yellow Spike for over sold and only a larger Green Spike for the Strong Buy. No more yellow/Green Spikes.
5/27/2021 Rev 4 Changed RSI threashholds to 65 from 68 and 70 so a Strong Sell Signal should be generated more often at the Tops. changed the 10X volume jump to a 30X volume Jump and set the 5X Volume jump from 8x (mistake) back to 5X.
2/4/2022 revision 5 Changed this line from 100 to 2000; input AverageLength = 2000;

Note: The Words BUY SIGNAL SELL SIGNAL RSI BUY are added to the graphic for clarification and DO NOT Appear in the study

#DEEPWATER_THE ONE 2/4/2022 revision 5
#https://usethinkscript.com/threads/deepwater_the-one.6518/
declare lower;
input length = 20;
input length2 = 15;
input price = close;
input averageType = AverageType.WILDERS;

input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
input averageTypeMACD = AverageType.EXPONENTIAL;

def Diff = MACD(fastLength, slowLength, MACDLength, averageTypeMACD).Diff;

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 RSIAvg3 = MovingAverage(averageType, (RSI), 3);
def RSIAvg5 = MovingAverage(averageType, (RSI), 5);
def RSI3OverSoldpivit = RSIAvg3 > RSIAvg3[1] and RSIAvg3[1] > RSIAvg3[2] and RSIAvg3[2] < RSIAvg3[3] and RSIAvg3[3] < RSIAvg3 [4];
def RSI3OverBoughtpivit = RSIAvg3 < RSIAvg3[1] and RSIAvg3[1] < RSIAvg3[2] and RSIAvg3[2] > RSIAvg3[3] and RSIAvg3[3] > RSIAvg3 [4];
#--------------------5 day MA
input displace = 0;
input showBreakoutSignals = no;
def MAvgExp14 = ExpAverage(price[-displace], 14);
#--------------------oversold
def twoBarPivotMACD = Diff > Diff[1] and Diff[1] > Diff[2] and Diff[2] < Diff[3] and Diff[3] < Diff [4];

def overSoldRSI = RSI <= 32;
def overSoldRSIHeavy = RSI <= 30 and Diff < 0 and (close < close[7]);
def TrendReversalalert = (twoBarPivotMACD and Highest(overSoldRSI, 6) > 0) / 3;

Alert(TrendReversalalert, "Buy Alert");
plot TrendReversal1 = (twoBarPivotMACD and RSIAvg3 < 45 and Highest(overSoldRSIHeavy, 6) > 0) / 1.4;
plot TrendReversalstrongbuy = ((TrendReversal1[1] > 0 or TrendReversal1[2] > 0 or TrendReversal1[3] > 0 or TrendReversal1[4] > 0 or TrendReversal1[5] > 0 or TrendReversal1[6] > 0 or TrendReversal1[7] > 0 or TrendReversal1[8] > 0 or TrendReversal1[9] > 0 or TrendReversal1[10] > 0 or TrendReversal1[11] > 0 or TrendReversal1[12] > 0 or TrendReversal1[13] > 0 or TrendReversal1[14] > 0) and twoBarPivotMACD and RSIAvg3 < 45 and Highest(overSoldRSIHeavy, 6) > 0) / 1.1;
plot TrendReversal = (twoBarPivotMACD and TrendReversalstrongbuy < 1 and Highest(overSoldRSI, 6) > 0) / 3;

TrendReversal.SetDefaultColor(GetColor(4));#yellow
TrendReversal1.SetDefaultColor(GetColor(6));#green
TrendReversalstrongbuy.SetDefaultColor(GetColor(6));#green
TrendReversalstrongbuy.SetLineWeight(3);
TrendReversal1.SetLineWeight(2);


AddLabel(yes, if  TrendReversal > 0 then "Buy" else "");
Alert( TrendReversalalert > 0,  "Chart is now Oversold ", Alert.BAR, Sound.Ring);
AddLabel(TrendReversalalert > 0
, "Chart is now Oversold ", Color.LIME);
#-----------------------Overbought
def twoBarPivotMACD1 = Diff < Diff[1] and Diff[1] < Diff[2] and Diff[2] > Diff[3] and Diff[3] > Diff [4];

def overboughtRSI = RSIAvg3 >= 65 and Diff > 0;
def TrendReversalalert20 = (twoBarPivotMACD1 and Highest(overboughtRSI[1], 7) > 0);
plot TrendReversal20 = 1 - (((RSIAvg3 >= 65 and RSI < RSIAvg3[2]) and RSI3OverBoughtpivit)/ 1.5) ;
plot TrendReversal20a = 1 - ((((RSIAvg3 >= 60 and RSIAvg3 < 65 )and RSI < RSIAvg3[2]) and RSI3OverBoughtpivit) / 4) ;

TrendReversal20.SetDefaultColor(GetColor(5)); #Red
TrendReversal20a.SetDefaultColor(GetColor(2)); #lt Red
TrendReversal20a.SetLineWeight(2);
TrendReversal20.SetLineWeight(3);
plot TrendReversal50 = 1 - ((RSIAvg5 >= 65 and close < MAvgExp14) / 2) ;
TrendReversal50.SetDefaultColor(GetColor(0)); #Red
TrendReversal50.SetLineWeight(3);
AddLabel(yes, if  TrendReversal20 < 1 then "Sell" else "");
Alert( TrendReversal20 < 1 ,  "Chart is now Overbought ", Alert.BAR, Sound.Ring);
AddLabel(TrendReversal20 < 1, "Chart is now Overbought ", Color.LIME);
input show_label = yes;
input show_bubble = no;
#--------------------------- Large 5X and 30X Volume Alert
input AverageLength = 2000;
input VolumeMultiplier = 10;
input VolumeMultiplier2 = 5;
input MinutesAfterOpen = 30;

def AvgVol = Average(volume, AverageLength);
def Vol5X = (volume > AvgVol * VolumeMultiplier2);
def Vol10X = (volume > AvgVol * VolumeMultiplier);
def Vol30X = (volume > AvgVol * 30) ;

Alert(Vol5X, Concat(GetSymbolPart(), " has a large volume spike." ), Alert.BAR, Sound.Chimes);
AddLabel(Vol5X > 0,  " Has 5X Volume Spike ", Color.LIGHT_GREEN);
Alert(Vol10X, Concat(GetSymbolPart(), " has a large volume spike." ), Alert.BAR, Sound.Chimes);
AddLabel(Vol10X > 0,  " Has 10X Volume Spike ", Color.LIGHT_GREEN);
Alert(Vol30X, Concat(GetSymbolPart(), " has a large volume spike." ), Alert.BAR, Sound.Chimes);
AddLabel(Vol30X > 0,  " Has 30X Volume Spike ", Color.LIGHT_GREEN);
#-------------------------------------GAP UP Price
def IsUp = close > open;
def IsDown = close < open;
def IsDoji = IsDoji();
def avgRange = 0.05 * Average(high - low, 20);
def GapUp =
    IsUp[1] and
    IsUp[0] and
    high[1] < low[0] and
    high[1] < open[0] and
(volume > AvgVol * 5) ;
Alert(GapUp, Concat(GetSymbolPart(), " GAPUP" ), Alert.BAR, Sound.Ring);
AddLabel(GapUp > 0,  " GAP Up  ", Color.LIGHT_GREEN);

#---------------------------------Large Price change 3%
def Priceup =
    IsUp[1] and
    IsUp[0] and
    high[1] < high[0] and
    high[2] * 1.02 < high[0] and
    high[3] * 1.03 < high[0] and
(volume > AvgVol * 3) ;
Alert(Priceup, Concat(GetSymbolPart(), " Price JUMP" ), Alert.BAR, Sound.Bell);
AddLabel(Priceup > 0,  " Price JUMP  ", Color.CYAN);

#---------------------------------HugePrice change 6%
def Priceup2 =
    IsUp[1] and
    IsUp[0] and
    high[1] < high[0] and
    high[3] * 1.04 < high[0] and
    high[4] * 1.06 < high[0] and
(volume > AvgVol * 3) ;
Alert(Priceup2, Concat(GetSymbolPart(), " JUMP! JUMP! JUMP" ), Alert.BAR, Sound.Chimes);
AddLabel(Priceup2 > 0,  " JUMP! JUMP! JUMP  ", Color.LIGHT_RED);

#-----------------------------------------------------------------------------------------
#--------------------------RSI cumulative running total
def MAvgExp7 = ExpAverage(price[-displace], 7);
def RSICalc = 50 * (ChgRatio + 1);
def RSICalc1 = if RSI > 70 then  3 else if RSI < 30 then  -3 else 0;
def RSICalc2 = if RSI[1] > 70 then  2 else if RSI[1] < 30 then  -2 else 0;
def RSICalc3 = if RSI[2] > 70 then  1 else if RSI[2] < 30 then  -1 else 0;
def RSICalc4 = if RSI[3] > 70 then  1 else if RSI[3] < 30 then  -1 else 0;
def RSICalc5 = if RSI[4] > 70 then  1 else if RSI[4] < 30 then  -1 else 0;
def RSICalc6 = if RSI[5] > 70 then  1 else if RSI[5] < 30 then  -1 else 0;
def RSICalc7 = if RSI[6] > 70 then  1 else if RSI[6] < 30 then  -1 else 0;
def RSICalc8 = if RSI[7] > 70 then  1 else if RSI[7] < 30 then  -1 else 0;
def RSICalc9 = if RSI[8] > 70 then  1 else if RSI[8] < 30 then  -1 else 0;
def RSICalc10 = if RSI[9] > 70 then  1 else if RSI[9] < 30 then  -1 else 0;
def RSICalc11 = if RSI[10] > 70 then  1 else if RSI[10] < 30 then  -1 else 0;
def RSICalc12 = if RSI[11] > 70 then  1 else if RSI[11] < 30 then  -1 else 0;
def RSICalc13 = if RSI[12] > 70 then  1 else if RSI[12] < 30 then  -1 else 0;
def RSICalc14 = if RSI[13] > 70 then  1 else if RSI[13] < 30 then  -1 else 0;
def RSICalc15 = if RSI[14] > 70 then  1 else if RSI[14] < 30 then  -1 else 0;
def RSICalc16 = if RSI[15] > 70 then  1 else if RSI[15] < 30 then  -1 else 0;
def RSICalc17 = if RSI[16] > 70 then  1 else if RSI[16] < 30 then  -1 else 0;
def RSICalc18 = if RSI[17] > 70 then  1 else if RSI[17] < 30 then  -1 else 0;
def RSICalc19 = if RSI[18] > 70 then  1 else if RSI[18] < 30 then  -1 else 0;
def RSICalc20 = if RSI[19] > 70 then  1 else if RSI[19] < 30 then  -1 else 0;
def RSICalc21 = if RSI[20] > 70 then  1 else if RSI[20] < 30 then  -1 else 0;
def RSICalc22 = if RSI[21] > 70 then  1 else if RSI[21] < 30 then  -1 else 0;
def RSICalc23 = if RSI[22] > 70 then  1 else if RSI[22] < 30 then  -1 else 0;
def RSICalc24 = if RSI[23] > 70 then  1 else if RSI[23] < 30 then  -1 else 0;
def RSICalc25 = if RSI[24] > 70 then  1 else if RSI[24] < 30 then  -1 else 0;
def RSICalc26 = if RSI[25] > 70 then  1 else if RSI[25] < 30 then  -1 else 0;
def RSICalc27 = if RSI[26] > 70 then  1 else if RSI[26] < 30 then  -1 else 0;
def RSICalc28 = if RSI[27] > 70 then  1 else if RSI[27] < 30 then  -1 else 0;
def RSICalc29 = if RSI[28] > 70 then  1 else if RSI[28] < 30 then  -1 else 0;
def RSICalc30 = if RSI[29] > 70 then  1 else if RSI[29] < 30 then  -1 else 0;

def RSI30DayAvg = RSICalc1 + RSICalc2 + RSICalc3 + RSICalc4 + RSICalc5 + RSICalc6 + RSICalc7 + RSICalc8 + RSICalc9 + RSICalc10 + RSICalc11 + RSICalc12 + RSICalc13 + RSICalc14 + RSICalc15 + RSICalc16 + RSICalc17 + RSICalc18 + RSICalc19 + RSICalc20 + RSICalc21 + RSICalc22 + RSICalc23 + RSICalc24 + RSICalc25 + RSICalc26 + RSICalc27 + RSICalc28 + RSICalc29 + RSICalc30;
AddLabel(RSI30DayAvg >= 10 and RSI30DayAvg < 20, " RSI SELL: " + RSI30DayAvg + "   ",  Color.ORANGE);
AddLabel(RSI30DayAvg >= 20, " RSI SELL: " + RSI30DayAvg + "   ",  Color.RED);
AddLabel(RSI30DayAvg <= -10 and RSI30DayAvg > -20, " RSI BUY: " + RSI30DayAvg + "   ",  Color.LIME);
AddLabel(RSI30DayAvg <= -20, " RSI BUY: " + RSI30DayAvg + "   ",  Color.DARK_GREEN);
plot TrendReversal5 = 1 - (((RSI30DayAvg >= 10 and RSI30DayAvg < 15) and close < MAvgExp7) / 2) ;
TrendReversal5.SetDefaultColor(GetColor(0)); #magenta
plot TrendReversal5a = 1 - (((RSI30DayAvg >= 16  and RSI30DayAvg < 25) and close < MAvgExp7) / 1.3) ;
TrendReversal5a.SetDefaultColor(GetColor(0)); #magenta
plot TrendReversal5b = 1 - ((RSI30DayAvg >= 25 and close < MAvgExp7) / 1.05) ;
TrendReversal5b.SetDefaultColor(GetColor(0)); #magenta
plot TrendReversal6 = ((RSI30DayAvg <= -15 and close > MAvgExp7 ) * .3) ;
TrendReversal6.SetDefaultColor(GetColor(6)); #green
plot TrendReversal6a = (((RSI30DayAvg <= -20 and RSI30DayAvg > -30) and close > MAvgExp7) * .85) ;
TrendReversal6a.SetDefaultColor(GetColor(6)); #green
TrendReversal6a.SetLineWeight(3);
TrendReversal5b.SetLineWeight(3);
TrendReversal6.SetLineWeight(2);
TrendReversal5a.SetLineWeight(2);
#End Code

 

[Deepwater]

Watch List​

of STRONG BUY and STRONG SELL PORTION OF DEEPWATER_THE_ONE

Also Link your Watchlist to a Chart so when you get a RED SELL or GREEN BUY you can click on the watchlist which brings up the chart. Youtube is your friend.​

When a Strong Buy or Strong Sell comes in the column will go from 0 to a 1 or true state. You can sort your watchlist by clicking on the column title (just like in excel) and sort that way if you have a long Watchlist the Buys and Sells always go to the top of the watchlist.

By Default the Watchlist Selects Daily Charts 'D'. You will need to change from 'D' to '2m' or '1m' charts within the watchlist setup or whatever time period you prefer.​

​

How to insert a custom watchlist?
Look at Youtube search for

Youtube Search => TOS Custom Watch List Columns​

#DEEPWATER_THE ONE 5/20/2021 WATCHLIST STRONG BUY/SELL
#https://usethinkscript.com/threads/deepwater_the-one.6518/

input length = 20;
input length2 = 15;
input price = close;
input averageType = AverageType.WILDERS;
input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
input averageTypeMACD = AverageType.EXPONENTIAL;
def Diff = MACD(fastLength, slowLength, MACDLength, averageTypeMACD).Diff;
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 RSIAvg3 = MovingAverage(averageType, (RSI), 3);
def RSIAvg5 = MovingAverage(averageType, (RSI), 5);
def RSI3OverSoldpivit = RSIAvg3 > RSIAvg3[1] and RSIAvg3[1] > RSIAvg3[2] and RSIAvg3[2] < RSIAvg3[3] and RSIAvg3[3] < RSIAvg3 [4];
def RSI3OverBoughtpivit = RSIAvg3 < RSIAvg3[1] and RSIAvg3[1] < RSIAvg3[2] and RSIAvg3[2] > RSIAvg3[3] and RSIAvg3[3] > RSIAvg3 [4];
#--------------------5 day MA
input displace = 0;
input showBreakoutSignals = no;
def MAvgExp14 = ExpAverage(price[-displace], 14);
#--------------------oversold
def twoBarPivotMACD = Diff > Diff[1] and Diff[1] > Diff[2] and Diff[2] < Diff[3] and Diff[3] < Diff [4];
def overSoldRSI = RSI <= 32;
def overSoldRSIHeavy = RSI <= 30 and Diff < 0 and (close < close[7]);
def TrendReversalalert = (twoBarPivotMACD and Highest(overSoldRSI, 6) > 0) / 3;
def StrongBuy = (twoBarPivotMACD and RSIAvg3 < 45 and Highest(overSoldRSIHeavy, 6) > 0);

#-----------------------Overbought
def twoBarPivotMACD1 = Diff < Diff[1] and Diff[1] < Diff[2] and Diff[2] > Diff[3] and Diff[3] > Diff [4];

def overboughtRSI = RSIAvg3 >= 65 and Diff > 0;
def TrendReversalalert20 = (twoBarPivotMACD1 and Highest(overboughtRSI[1], 7) > 0);
def StrongSell = (((RSIAvg3 >= 68 and RSI < RSIAvg3[2]) and RSI3OverBoughtpivit)) ;

plot TrendReversal1 = (StrongBuy + StrongSell) + (StrongBuy[1] + StrongSell[1]);
TrendReversal1.AssignValueColor(if StrongBuy> 0 then Color.BLACK else Color.LIGHT_GRAY);
AssignBackgroundColor(if (StrongBuy  == 1 or StrongBuy[1]  == 1) then Color.GREEN else if (StrongSell == 1 or StrongSell[1] == 1) then Color.RED else Color.BLACK);
Alert( StrongSell, Concat(GetSymbolPart(), " SELL" ), Alert.BAR, Sound.Bell);
Alert( StrongBuy, Concat(GetSymbolPart(), " BUY" ), Alert.BAR, Sound.Bell);
#End Code

{/CODE]

Sell signal SCAN

#DEEPWATER_THE ONE 5/20/2021 WATCHLIST STRONG SELL
#https://usethinkscript.com/threads/deepwater_the-one.6518/

input length = 20;
input length2 = 15;
input price = close;
input averageType = AverageType.WILDERS;
input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
input averageTypeMACD = AverageType.EXPONENTIAL;
def Diff = MACD(fastLength, slowLength, MACDLength, averageTypeMACD).Diff;
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 RSIAvg3 = MovingAverage(averageType, (RSI), 3);
def RSIAvg5 = MovingAverage(averageType, (RSI), 5);
def RSI3OverSoldpivit = RSIAvg3 > RSIAvg3[1] and RSIAvg3[1] > RSIAvg3[2] and RSIAvg3[2] < RSIAvg3[3] and RSIAvg3[3] < RSIAvg3 [4];
def RSI3OverBoughtpivit = RSIAvg3 < RSIAvg3[1] and RSIAvg3[1] < RSIAvg3[2] and RSIAvg3[2] > RSIAvg3[3] and RSIAvg3[3] > RSIAvg3 [4];
#--------------------5 day MA
input displace = 0;
input showBreakoutSignals = no;
def MAvgExp14 = ExpAverage(price[-displace], 14);
#--------------------oversold
def twoBarPivotMACD = Diff > Diff[1] and Diff[1] > Diff[2] and Diff[2] < Diff[3] and Diff[3] < Diff [4];
def overSoldRSI = RSI <= 32;
def overSoldRSIHeavy = RSI <= 30 and Diff < 0 and (close < close[7]);
def TrendReversalalert = (twoBarPivotMACD and Highest(overSoldRSI, 6) > 0) / 3;
def StrongBuy = (twoBarPivotMACD and RSIAvg3 < 45 and Highest(overSoldRSIHeavy, 6) > 0);

#-----------------------Overbought
def twoBarPivotMACD1 = Diff < Diff[1] and Diff[1] < Diff[2] and Diff[2] > Diff[3] and Diff[3] > Diff [4];

def overboughtRSI = RSIAvg3 >= 65 and Diff > 0;
def TrendReversalalert20 = (twoBarPivotMACD1 and Highest(overboughtRSI[1], 7) > 0);
def StrongSell = (((RSIAvg3 >= 68 and RSI < RSIAvg3[2]) and RSI3OverBoughtpivit)) ;

plot TrendReversal1 = (StrongSell + StrongSell[1] + StrongSell[2] );


#End Code

 

[arm1]

Thanks Deepwater. going to try this out today. do you know by any chance if this repaints?

 

[Deepwater]

DEEPWATE_THEONE_BUYSCAN (P.S Sell Scan code is on Page 9)

Create a new study and name it DEEPWATER_THEONEBUYSCAN or whatever name you want
Under the Scan menu "ADD FILTER' and add the study you created. Add the logic for TrendReversal1 to 'IS GREATER THAN' select VALUE of 0.
I set my time period for 2M (2Minute Charts). You can add Scan filters like volume min/max etc. YOUTUBE is your friend

#DEEPWATER_THE ONE 5/20/2021 WATCHLIST STRONG BUY
#https://usethinkscript.com/threads/deepwater_the-one.6518/

input length = 20;
input length2 = 15;
input price = close;
input averageType = AverageType.WILDERS;
input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
input averageTypeMACD = AverageType.EXPONENTIAL;
def Diff = MACD(fastLength, slowLength, MACDLength, averageTypeMACD).Diff;
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 RSIAvg3 = MovingAverage(averageType, (RSI), 3);
def RSIAvg5 = MovingAverage(averageType, (RSI), 5);
def RSI3OverSoldpivit = RSIAvg3 > RSIAvg3[1] and RSIAvg3[1] > RSIAvg3[2] and RSIAvg3[2] < RSIAvg3[3] and RSIAvg3[3] < RSIAvg3 [4];
def RSI3OverBoughtpivit = RSIAvg3 < RSIAvg3[1] and RSIAvg3[1] < RSIAvg3[2] and RSIAvg3[2] > RSIAvg3[3] and RSIAvg3[3] > RSIAvg3 [4];
#--------------------5 day MA
input displace = 0;
input showBreakoutSignals = no;
def MAvgExp14 = ExpAverage(price[-displace], 14);
#--------------------oversold
def twoBarPivotMACD = Diff > Diff[1] and Diff[1] > Diff[2] and Diff[2] < Diff[3] and Diff[3] < Diff [4];
def overSoldRSI = RSI <= 32;
def overSoldRSIHeavy = RSI <= 30 and Diff < 0 and (close < close[7]);
def TrendReversalalert = (twoBarPivotMACD and Highest(overSoldRSI, 6) > 0) / 3;
def StrongBuy = (twoBarPivotMACD and RSIAvg3 < 45 and Highest(overSoldRSIHeavy, 6) > 0);

#-----------------------Overbought
def twoBarPivotMACD1 = Diff < Diff[1] and Diff[1] < Diff[2] and Diff[2] > Diff[3] and Diff[3] > Diff [4];

def overboughtRSI = RSIAvg3 >= 65 and Diff > 0;
def TrendReversalalert20 = (twoBarPivotMACD1 and Highest(overboughtRSI[1], 7) > 0);
def StrongSell = (((RSIAvg3 >= 68 and RSI < RSIAvg3[2]) and RSI3OverBoughtpivit)) ;

plot TrendReversal1 = (StrongBuy + StrongBuy[1] + StrongBuy[2] );


#End Code

 

[arm1]

Not sure I know what you mean by repaints?

No worries. Repainting means that a confirmation signal (in this case a buy spike or sell spike) disappears after the close of the candle if future conditions change.

Basically it's ok if a signal appears and disappears during the formation of the current candle (this is not repainting), but if the candle closes with a signal and then three bars later the signal disappears from the original candle, then the signal repaints.

 

[AbHaley]

Thanks man! Can you provide the "RSI Extreme" piece separately for me? I have an idea of an add-on.

 

[Deepwater]

Thanks man! Can you provide the "RSI Extreme" piece separately for me? I have an idea of an add-on.

If you look at the end of my code there is this special section. Copy it along with the RSI parts
#--------------------------RSI cumulative running total

 

[ImKidKid]

i like it.Nice and Clean. It seems some spikes are more accurate that others. Post a few screenshots of how you've applied it recently. That would be dope! thanks for sharing with us!

 

[Deepwater]

i like it.Nice and Clean. It seems some spikes are more accurate that others. Post a few screenshots of how you've applied it recently. That would be dope! thanks for sharing with us!

If you put up 7 - 14 charts, different stocks, and add DEEPWATER_THE ONE and sit back and watch it work, it will alert you to many different things. Load it and watch it work. If you get a yellow/green Spike up it commonly marks the bottom and a second one close to the first is confirmation and an even stronger buy signal. 10% is knowing when to buy. 90% is knowing when to sell LOL. I made the RSI Cumulative to give me a second sell signal and it gives purple SPIKES DOWN. You get PURPLE SPIKES DOWN You better start selling some or part. or all. Good luck trading. It's just a tool but I have found it to be Synergetic in that all the parts make it very very useful.

 

[ImKidKid]

If you put up 7 - 14 charts, different stocks, and add DEEPWATER_THE ONE and sit back and watch it work, it will alert you to many different things. Load it and watch it work. If you get a yellow/green Spike up it commonly marks the bottom and a second one close to the first is confirmation and an even stronger buy signal. 10% is knowing when to buy. 90% is knowing when to sell LOL. I made the RSI Cumulative to give me a second sell signal and it gives purple SPIKES DOWN. You get PURPLE SPIKES DOWN You better start selling some or part. or all. Good luck trading. It's just a tool but I have found it to be Synergetic in that all the parts make it very very useful.

awesome! i will take it for a drive! whats your favorite time frame to use it on?

 

[Deepwater]

awesome! i will take it for a drive! whats your favorite time frame to use it on?

I use it on any time frame but i like 2 minute best. It will give hits on different time frames so best to look at two timeframes with it. 1 minute 1 day and 5 minute 3 days for example

 

[KRHIlls]

@Deepwater The yellow and green spike. Is that for going long and short?

 

[Deepwater]

No worries. Repainting means that a confirmation signal (in this case a buy spike or sell spike) disappears after the close of the candle if future conditions change.

Basically it's ok if a signal appears and disappears during the formation of the current candle (this is not repainting), but if the candle closes with a signal and then three bars later the signal disappears from the original candle, then the signal repaints.

The spikes once formed after the candle completes stay as far as I know. Now the Alerts and Messages that pop up if an Alert is triggered only stay as long as the alert is in effect or the conditions leading to Alert are still in effect. Not sure if that makes sense but you will see what it does

 

[Deepwater]

@Deepwater The yellow and green spike. Is that for going long and short?

The Yellow and Green spike is a fairly strong BUY Signal. I like to confirm it on a 1 minute, 2 minute chart. The plain yellow spike from the bottom is a BUY Signal also but doesn't meet as tight a condition as the Yellow/Green spike which is stronger.

An oversold cumulative RSI will also give a green spike of smaller size but generally wider and it Gives a separate Buy signal but the stock needs to move strongly down to get the RSI Cumulative signal.

 

[Deepwater]

@Deepwater The yellow and green spike. Is that for going long and short?

Also If you see a Yellow/Green large Spike which is a BUY Signal. and then fairly shortly you get a second large Yellow/Green BUY signal the second one is a very Strong BUY IMHO and almost always marks the bottom if the first Yellow/Green doesn't mark the bottom. Hope that helps

 

[poststreet]

thanks for the work but a simple rsi 14 , shows the same thing! ob 70, under bought 30 !

 

[Deepwater]

thanks for the work but a simple rsi 14 , shows the same thing! ob 70, under bought 30 !

Not exactly. But you can keep using a plain 70/30 RSI if you like

 

[RickAns]

Interesting, thanks.

 

[rad14733]

@Deepwater Can you add an image or three of your chart into your first post so members can see what you are talking about without installing the script...???

Edited to add: Is this all I should be seeing...???

 

[Ghostwar19]

Thanks for your contribution fam loving it