DEEPWATER_THE ONE For ThinkOrSwim

[Deepwater]

Love the Deepwater indicator great job. Question I trade forex and can not get it to work at all any suggestions. Thanks again

Thanks BJ, Can you get RSI or MACD to work with your Forex? You use the FOREX TRADER menu item under TRADE vice the ACTIVE TRADER?
I have never done Forex so I am curious what TA Indicators or Studies you can use

 

[Deepwater]

I just wanted to say, thank you for sharing this with the group! Really helpful indicator

Your welcome. I am happy this is a quiet thread, cause that tells me folks can figure out the indicator themselves and it works well. It's good to hear people are happy with it

 

[BJ1951]

Yes use both and some others B4 and Thermo Lookback bars and change all settings on all indicators.I was interested in Deep Water but something in the script causes it to not work.

 

[Deepwater]

I remember someone saying that thinkorswim doesn't like volume in studies for certain things (like FOREX) so I stripped out the volume alerts.
DEEPWATER_THE ONE_FOREX (Also works with SPY and other index funds)

#DEEPWATER_THE ONE_FOREX 9/25/2025 revision 7 forex No Volume
#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 >= 68 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;


#--------------------------RSI cumulative running total
def MAvgExp7 = ExpAverage(price[-displace], 7);
def RSICalc = 50 * (ChgRatio + 1);
def RSICalc1 = if RSI > 70 then  4 else if RSI < 30 then  -4 else 0;
def RSICalc2 = if RSI[1] > 70 then  3 else if RSI[1] < 30 then  -3 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;
def RSIAvgpercent = AbsValue((RSI30DayAvg / 30) * 100);
AddLabel(RSI30DayAvg >= 10 and RSI30DayAvg < 20, " RSI SELL: " + RSIAvgpercent + " Strength   ",  Color.ORANGE);
AddLabel(RSI30DayAvg >= 20, " RSI STRONG SELL: " +  RSIAvgpercent + " LOOK TO SELL   ",  Color.RED);

AddLabel(RSI30DayAvg <= -10 and RSI30DayAvg > -20, " RSI BUY: " + RSIAvgpercent + " Strength    ",  Color.LIME);
AddLabel(RSI30DayAvg <= -20, " RSI STRONG BUY: " +  RSIAvgpercent + " LOOK TO BUY   ",  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
{/CODE}

 

[Deepwater]

Yes use both and some others B4 and Thermo Lookback bars and change all settings on all indicators.I was interested in Deep Water but something in the script causes it to not work.

BJ, Try the code I posted for forex above

 

[Deepwater]

Love it, great job. thank you so much, looks very very promising

BJ how is the Forex version working out?

 

[Deepwater]

Page 10 code works with SPX and other indexes as well as Forex

 

[Deepwater]

Merry Christmas Everyone and Happy New Year, My 2022 is going to be profitable I pray, even though it looks like risk-adverse times ahead. Always opportunity.

 

[ssimonn]

Merry Christmas Everyone and Happy New Year, My 2022 is going to be profitable I pray, even though it looks like risk-adverse times ahead. Always opportunity.

Same to you and your family, be blessed

 

[Deepwater]

I changed Avg Volume length variable from 100 to 2000 to try and minimize fake volume alerts Rev 5 on page 1

 

[Semserus]

I changed Avg Volume length variable from 100 to 2000 to try and minimize fake volume alerts Rev 5 on page 1

Hi, Do You have anything New..?

 

[Deepwater]

Hi, Do You have anything New..?

No Semserus it's running good

 

[Neo_Matrix]

Just want to say this is one of the best indicators I’ve ever used. Thanks for making it.

 

[thatsben]

I built it to be used on the 1 min timeframe.

View attachment 10591

Wow, great job. I just stared using the 1min timeframe and think your spot on with your changes. Do you mind sharing you grid. @ImKidKid Thank you.

 

[merryDay]

Wow, great job. I just stared using the 1min timeframe and think your spot on with your changes. Do you mind sharing you grid. @ImKidKid Thank you.

Did you know that by clicking on a member's name, you can easily check when they were last seen on the uTS forum? It's a great way to keep track of who's been around recently, and who hasn't. Speaking of which, it looks like @ImKidKid is no longer active.

 

[Deepwater]

After the C Schwab takeover had trouble getting into my account and get TOS working again. Anyone still using this indicator?

 

[Deepwater]

Anyone still using this indicator?

 

[rkwchu]

Anyone still using this indicator?

Yes, I do!

 

[Deepwater]

I have updated the Script on Page 1 and Page 10

 

[Deepwater]

Have you experienced in some case "The One" cannot show the drawing in the chart for some stocks? eg. LEVI, CTVA, /BTC

Try the forex version page 10. SPY works with it as an example. /BTC works during working hours Monday thru Friday for me.