List of "Must Have" Fishing Ponds and Indicators for ThinkorSwim

[Bladeof300]

@nrk786 I have added a moving average to my version and use that to help indicate early entry and exit signals... I have also added a no trade zone but can't say that I've paid much attention to it... It also paints dots when the histogram gaps below/above the average and that is my weakness/reversal indicator... Here it is... Let me know what you think...

#ErgodicOsc
#Modified by rad14733 for personal use
#Added moving average and no trade zone

declare lower;

input longLength = 25;
input shortLength = 13;
input signalLength = 8;
input averageType = AverageType.Exponential;

plot ErgodicOsc = TrueStrengthIndex(longLength, shortLength, signalLength, averageType).TSI - TrueStrengthIndex(longLength, shortLength, signalLength, averageType).Signal;

plot ZeroLine = 0;

ErgodicOsc.SetPaintingStrategy(PaintingStrategy.Histogram);
ErgodicOsc.SetLineWeight(3);
ErgodicOsc.DefineColor("Positive", Color.GREEN);
ErgodicOsc.DefineColor("Negative", Color.RED);
ErgodicOsc.AssignValueColor(if ErgodicOsc >= 0 then ErgodicOsc.color("Positive") else ErgodicOsc.color("Negative"));
ZeroLine.SetDefaultColor(GetColor(7));

plot avgErgodic = MovingAverage(AverageType.SIMPLE, ErgodicOsc, 8);

def noTradeValue = 2.5;

plot posNoTradeLine = noTradeValue;
plot negNoTradeLine = -noTradeValue;

plot longweak = if ErgodicOsc > 0 and ErgodicOsc < avgErgodic and ErgodicOsc < ErgodicOsc[1] and ErgodicOsc[1] > avgErgodic[1] then 0 else Double.NaN;
longweak.SetPaintingStrategy(PaintingStrategy.POINTS);
longweak.SetDefaultColor(Color.CYAN);
longweak.SetLineWeight(5);
longweak.HideTitle();

plot shortweak = if ErgodicOsc < 0 and ErgodicOsc > avgErgodic and ErgodicOsc > ErgodicOsc[1] and ErgodicOsc[1] < avgErgodic[1] then 0 else Double.NaN;
shortweak.SetPaintingStrategy(PaintingStrategy.POINTS);
shortweak.SetDefaultColor(Color.MAGENTA);
shortweak.SetLineWeight(5);
shortweak.HideTitle();

How did you decide on the value of your NoTradeLines or dead zones? I would like to apply a similar system to other indicators, but I don't know how to make a reliable determination of the minimum value for a trade.

 

[rad14733]

How did you decide on the value of your NoTradeLines or dead zones? I would like to apply a similar system to other indicators, but I don't know how to make a reliable determination of the minimum value for a trade.

The NoTradeLines need to be adjusted for every instrument charted so I rarely pay attention to them and, in fact, tend to turn off those plots most of the time... They might come in handy if the indicator was to be incorporated into a more broad trading strategy...

 

[JPIMP]

@rad14733 So how would I go about adding MA lines to all the histograms that I currently use?

I am not a coder but looking at it... This is part of it ...

plot avgErgodic = MovingAverage(AverageType.SIMPLE, ErgodicOsc, 8);

After adding above line would I just replace "ErgodisOsc" (below) with the name of whatever histogram I currently use ?

ErgodicOsc.SetPaintingStrategy(PaintingStrategy.Histogram);
ErgodicOsc.SetLineWeight(3);
ErgodicOsc.DefineColor("Positive", Color.GREEN);
ErgodicOsc.DefineColor("Negative", Color.RED);
ErgodicOsc.AssignValueColor(if ErgodicOsc >= 0 then ErgodicOsc.color("Positive") else ErgodicOsc.color("Negative"));
ZeroLine.SetDefaultColor(GetColor(7));

Thx

 

[rad14733]

@JPIMP Yes, that's more or less the overall concept... They truly do help... I've actually been pondering the concept of trying different average types and most likely will over the next several days... If you run into a problem, just give a shout-out...

 

[Chence27]

For those listing the indicators you use, I think it would be useful to describe why you use it and perhaps even how you use it in your trading.

 

[Bentley]

Hi people,
Having went thru the forum quite a bit and always found some reoccurring question on certain scripts request and always thinking of helping other find a better solution than to go thru all the links in different part of the forum...

And I think I found it...

Check out the following YouTube where TOS scripts expert tackle them in the most efficient ways:

Trend and Bounce Scripts:

This one video provide an Indicator u can use right now right here + cover the following request:
1. Indicator I can use right now right here but customize to my condition
2. Indicator I can use right now right here but add/minus, day/minutes AND point them out with with my own label
3. Indicator I can use right now right here + add on TOS indicator AND ALSO tweet the TOS indicator
4. Indicator I can use right now right here + look for certain candle pattern
5. Scan, add, delete, customize column... not only in watch list BUT other quote list in TOS

There are lot of other video within this series to power up your scriptiblity and I usually watch this TOS movie during meal or weekend because there isn't any good movie anyway during the past year due to the pandemic. Other video including thing like looking for volume spike, with price action, and turning any indicator into scan and the list go on... they provide the script so u could use them straight away or twist them to your request...

Njoy

 

[fryguy]

Any good suggestions for Short, Mid, and Long Term?

Thanks

 

[Learnbot]

Hello. what are some of the you guys/gals’ favorite trend strength indicators? I trade on 1min chart and use MACD and Elastic Stock but I was wondering if there are any better indicator for strength other than these two that I’m missing. I daytrade so I am interested in indicators that work on lower timeframes.
thank you for your time and education

 

[germanburrito]

Hello. what are some of the you guys/gals’ favorite trend strength indicators? I trade on 1min chart and use MACD and Elastic Stock but I was wondering if there are any better indicator for strength other than these two that I’m missing. I daytrade so I am interested in indicators that work on lower timeframes.
thank you for your time and education

could you explain a bit more how you use macd to indicate strength of the trend not just direction.

 

[Learnbot]

could you explain a bit more how you use macd to indicate strength of the trend not just direction.

So I try to keep it simple if MACD Value crosses above Average and MACD value is below Zero line then I look at Elastic Stoch to confirm uptrend and vice versa.

 

[cswu1211]

Wondering how to re-set the upper left corner of scan setup tab back to "original" where nothing is there.
Right now it shows Top 10 sizzling stock, and I can't get rid of it with new scanner. tks

 

[MerryDay]

@cswu1211 Don't click on the flames icon above the Add filter button and you won't get Top 10 SizzlingStocks.
To reload your scan click on the middle "hamburger icon"

 

[horserider]

@Learnbot "keep it simple if MACD Value crosses above Average and MACD value is below Zero line" You mentioned you wanted trend strength, seems a MACD below the zero line is not showing strength.

 

[germanburrito]

So I try to keep it simple if MACD Value crosses above Average and MACD value is below Zero line then I look at Elastic Stoch to confirm uptrend and vice versa.

i dont even know where to start really, are those the only indicators you use? supertrend or blackflag tailing stop might help

 

[cswu1211]

@cswu1211 Don't click on the flames icon above the Add filter button and you won't get Top 10 SizzlingStocks.
To reload your scan click on the middle "hamburger icon"

Greatly appreciated

 

[cswu1211]

If I were to create a NEW Candlestick using Todays' CLOSE compared with OPEN previous 9 day ago, and make it a new candle, the color of the candle will be shown as the regular RED/Green.
How should I do to write the script?! Can someone help?! best wishes

def IsUp = close > open[-9];
def IsDown = close < open[-9];
plot PatternPlot =
..........I need help further.........

 

[horserider]

One cannot make a new candle the market makes the candles. Are you looking to show an uptrend/downtrend? What is the logic behind this? A more detailed description might help.
No idea if the code below works.


((Sum(IsUp, 9)[1] >= 0)) and
((Sum(IsUp, 1)[0] >= 0)) and
close[0] > open[9];

or

close[0] < open[9];

 

[Learnbot]

@Learnbot "keep it simple if MACD Value crosses above Average and MACD value is below Zero line" You mentioned you wanted trend strength, seems a MACD below the zero line is not showing strength.

I agree with you, that is why I wanted to see if anyone here up an point me in direction of a good trend strength indicator I can incorporate in my trading scheme. thank you for your help through

 

[rad14733]

@Learnbot TTM_Squeeze, TMO, and several other "Momentum" indicators would help with "trend strength"... RSI (Relative Strength Index), as the name implies, is yet another...

 

[Learnbot]

@Learnbot TTM_Squeeze, TMO, and several other "Momentum" indicators would help with "trend strength"...

Thank you! I’ll check them out. Really appreciate it