Finding Bullish Stocks On Weekly and Daily Time Frame For ThinkOrSwim

M

Miami51961

Member
Finding Bullish Stocks On Weekly and Daily Time Frame For ThinkOrSwim
I know there has been much talk on finding trending or bullish stocks.

After playing around with the scanning feature and using the market phase indicator it really has become easy to find stocks based on bullish, bearish, accumulation, or whatever phase you are looking for. Below are some screenshots and explanations.

I am using the market phase by trend advisor Chuck Davis
https://usethinkscript.com/threads/market-phases-indicator-for-thinkorswim.1025/
It works extremely well. The scans are set up to look for weekly and daily Bullish trends.

What I found interesting is setting it to look for stocks in the accumulation phase gave some great results.

I also set it to look for stocks that just went from accumulation to the bullish phase.

By doing this I limited my scans to only the strong trending stocks.

I was also using "ichimoko" but you could use whatever method you like of course.

This scan just limits the strong trending stocks. If there are any suggestions or improvements please let me know.

I am scanning for only bullish stocks in this scan. I will add the accumulation phase and give an example.
Setting the scans becomes easy and utilizing both weekly and daily time frames hone in on good stocks.
I also added the market phase in my scan column. Hope this will help some people.
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Scan for accumulation on the daily time frame is below
GKePzMF.png
 
Last edited by a moderator:
I'm defiantly going to have to give this a try. I have been trying to find scans that can pick out bullish patterns for day trading. Everyone can come up with a strategy but the better question would be is how to find the right stock to trade and from what it looks like this does just that. Thank you !!
 
JeffryBatista said:
I'm defiantly going to have to give this a try. I have been trying to find scans that can pick out bullish patterns for day trading. Everyone can come up with a strategy but the better question would be is how to find the right stock to trade and from what it looks like this does just that. Thank you !!
Click to expand...
MerryDay had the Market_Phase on her chart setup, I believe. I use it to find only stocks that are trending or getting ready to. I also have it added to my watch list columns.
I also did two scans, one for weekly trends and then daily trends.
It has helped in narrowing down what I'm looking for
 
Last edited by a moderator:
Miami51961 said:
MerryDay had the Market_Phase on her chart setup, I believe. I use it to find only stocks that are trending or getting ready to. I also have it added to my watch list columns.
I also did two scans, one for weekly trends and then daily trends.
It has helped in narrowing down what I'm looking for
Click to expand...
What website is this? my indicator is giving me different parameters. Please help
 
Last edited by a moderator:
Sorry for so many posts.
the code below is the one to use for your watch list, as it blocks out things that are not needed.
Add this to the watch list
Ruby: 
#Trend Advisor Market Phases;
#Credit to the Chuck Dukas for creating the system and for then author of the VolumeTrendLabels whose study was use to create this indicator. Ensure you set the correct aggregation period to then chart, this helps calculate the correct volume and price action.

def agg = getAggregationPeriod();
#input vPeriod = AggregationPeriod.day; #hint vPeriod: Enter the chart time you use here. Required to properly caluclate volume and price strength.
def vPeriod = getAggregationPeriod();
def O = open(period = vPeriod);
def H = high(period = vPeriod);
def C = close(period = vPeriod);
def L = low(period = vPeriod);
def V = volume(period = vPeriod);

def SV = V * (H - C) / (H - L);
def BV = V * (C - L) / (H - L);

# below determines if volume supports the move, adds conviction
#AddLabel(yes, "Buyer Vol Strong ", if high > high[1] and low > low[1] and BV*1.05 > SV then Color.GREEN else color.black);
#AddLabel(yes, "Seller Vol Strong", if high < high[1] and low < low[1] and SV*1.05 > BV then Color.MAGENTA else color.black);

# below determines if price supports the move
#AddLabel(yes, "Price Strong ", if high > high[1] and high [1] > high[2] and low > low[1] and low[1] > low[2] then Color.GREEN else color.black);
#AddLabel(yes, "Price Weak", if high < high[1] and high[1] < high[2] and low < low[1] and low[1] < low[2] then Color.MAGENTA else color.black);
def PriceStrong = high > high[1] and high [1] > high[2] and low > low[1] and low[1] > low[2];
def PriceWeak = high < high[1] and high[1] < high[2] and low < low[1] and low[1] < low[2];
def BuyVolStrong = high > high[1] and low > low[1] and BV*1.05 > SV;
def SellVolStrong = high < high[1] and low < low[1] and SV*1.05 > BV;

declare upper;
input price = close;
input displace = 0;
input avglength = 10; #hint avgLength: Then exponential average length you want to use for your pullback entries.
def fastavg = 50;
def slowavg = 200;

plot fastsma = Average( price, fastavg);
fastsma.SetDefaultColor(Color.Green);

plot slowsma = Average(price, slowavg);
slowsma.SetDefaultColor(Color.Red);

# Bullish criteria define below
# Define criteria for Bullish Phase : close > 50 SMA, close > 200 SMA, 50 SMA > 200 SMA
def bullphase = fastsma > slowsma && price > fastsma && price > slowsma;

# Define criteria for Accumulation Phase : close > 50 SMA, close > 200 SMA, 50 SMA < 200 SMA
def accphase = fastsma < slowsma && price > fastsma && price > slowsma;

# Define criteria for Recovery Phase : close > 50 SMA, close < 200 SMA, 50 SMA < 200 SMA
def recphase = fastsma < slowsma && price < slowsma && price > fastsma;

# Bearish Criteria define below
# Define criteria for Bearish Phase : close < 50 SMA, close < 200 SMA, 50 SMA < 200 SMA
def bearphase = fastsma < slowsma && price < fastsma && price < slowsma;

# Define criteria for Distribution Phase : close < 50 SMA, close < 200 SMA, 50 SMA > 200 SMA
def distphase = fastsma > slowsma && price < fastsma && price < slowsma;

# Define criteria for Warning Phase : close < 50 SMA, close > 200 SMA, 50 SMA > 200 SMA
def warnphase = fastsma > slowsma && price > slowsma && price < fastsma;

# Below conditions are for a possible entry when price touches the fastema
#def pbavg = MovingAverage(Average, price, avglength);
def pbavg = ExpAverage(data = price[-displace], length = avglength);

input bullpullback = yes; #hint bullpullback: Do you want to display the pullback arrows for bullish fast ema entries.
input bearpullback = yes; #hint bearpullback: Do you want to display the pullback arrows for bearish fast ema entries.

def bullishpb = low < pbavg && open > pbavg;
def bearishpb = high > pbavg && open < pbavg;

def bullpb = bullphase is true && bullishpb is true;
def bearpb = bearphase is true && bearishpb is true;

# Plot Signals
plot bullpb1 = if bullpullback then bullpb else 0;
bullpb1.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bullpb1.SetDefaultColor(Color.CYAN);
bullpb1.SetLineWeight(1);

plot bearpb1 = if bearpullback then bearpb else 0;
bearpb1.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
bearpb1.SetDefaultColor(Color.red);
bearpb1.SetLineWeight(1);

plot buphase = bullphase is true;
plot acphase = accphase is true;
plot rephase = recphase is true;

plot bephase = bearphase is true;
plot dphase = distphase is true;
plot wphase = warnphase is true;

# Identifies signals for Price and Volume Strength/Weakness
plot PrStrong = PriceStrong is true;
plot PrWeak = PriceWeak is true;

plot VolStrong = BuyVolStrong is true;
plot VolWeak = SellVolStrong is true;

# Adds Labels for Price/Volume Strength and Weakness
#AddLabel(yes, "Price Strong", if PriceStrong is true then Color.Green else color.BLACK);
#AddLabel(PriceWeak, "Price Weak", if PriceWeak is true then Color.Red else color.BLACK);
#AddLabel(SellVolStrong, "Sell Vol Strong", if SellVolStrong is true then color.RED else color.BLACK);
#assignBackgroundColor(if PrStrong then color.GREEN else if PrWeak then color.RED else color.BLACK);


# Below adds labels to the chart to identify what phase the underlying is in
AddLabel(bullphase, " Bull Phase" , if bullphase is true then Color.GREEN else Color.BLACK);
AddLabel(accphase, " Accumation Phase ", if accphase is true then Color.lIGHT_GREEN else Color.BLACK);
AddLabel(recphase, " Recovery Phase ", if recphase is true then Color.lIGHT_ORANGE else Color.BLACK);
AddLabel(warnphase, " Warning Phase ", if warnphase is true then Color.orANGE else Color.BLACK);
AddLabel(distphase, " Distribution Phase ", if distphase is true then Color.light_red else Color.BLACK);
AddLabel(bearphase, " Bear Phase ", if bearphase is true then Color.red else Color.BLACK);

#assignPriceColor(if bullphase then Color.GREEN else if bearphase then Color.RED else Color.orange);
 
Last edited by a moderator:
Ok. Here is a scan I ran today using Ben10's "buy the dip" indicator.
As you can see, only one stock shows a bullish configuration, so I concentrated on it. It looks good as the Stochastic/momentum is in the suitable range. I'm keeping my eye on this one as a possible play. It is also right at the 50mday moving average.

ns1ebeP.png


Follow Merry Day please, she knows her stuff. And the rest of the crew.
Mimai553
 
Last edited by a moderator:
Miami51961 said:
Finding Bullish Stocks On Weekly and Daily Time Frame For ThinkOrSwim
I know there has been much talk on finding trending or bullish stocks.

After playing around with the scanning feature and using the market phase indicator it really has become easy to find stocks based on bullish, bearish, accumulation, or whatever phase you are looking for. Below are some screenshots and explanations.

I am using the market phase by trend advisor Chuck Davis
https://usethinkscript.com/threads/market-phases-indicator-for-thinkorswim.1025/
It works extremely well. The scans are set up to look for weekly and daily Bullish trends.

What I found interesting is setting it to look for stocks in the accumulation phase gave some great results.

I also set it to look for stocks that just went from accumulation to the bullish phase.

By doing this I limited my scans to only the strong trending stocks.

I was also using "ichimoko" but you could use whatever method you like of course.

This scan just limits the strong trending stocks. If there are any suggestions or improvements please let me know.

I am scanning for only bullish stocks in this scan. I will add the accumulation phase and give an example.
Setting the scans becomes easy and utilizing both weekly and daily time frames hone in on good stocks.
I also added the market phase in my scan column. Hope this will help some people.
View attachment 12324

View attachment 12325

View attachment 12326

Scan for accumulation on the daily time frame is below
View attachment 12327
Click to expand...
for the first scan, do you use the same market phase study and change the timeframe to WK?
my scan script goes like this: MarketPhase). "buphase" is true, which is different from your with "v period........"
 
Miami51961 said:
Finding Bullish Stocks On Weekly and Daily Time Frame For ThinkOrSwim
I know there has been much talk on finding trending or bullish stocks.

After playing around with the scanning feature and using the market phase indicator it really has become easy to find stocks based on bullish, bearish, accumulation, or whatever phase you are looking for. Below are some screenshots and explanations.

I am using the market phase by trend advisor Chuck Davis
https://usethinkscript.com/threads/market-phases-indicator-for-thinkorswim.1025/
It works extremely well. The scans are set up to look for weekly and daily Bullish trends.

What I found interesting is setting it to look for stocks in the accumulation phase gave some great results.

I also set it to look for stocks that just went from accumulation to the bullish phase.

By doing this I limited my scans to only the strong trending stocks.

I was also using "ichimoko" but you could use whatever method you like of course.

This scan just limits the strong trending stocks. If there are any suggestions or improvements please let me know.

I am scanning for only bullish stocks in this scan. I will add the accumulation phase and give an example.
Setting the scans becomes easy and utilizing both weekly and daily time frames hone in on good stocks.
I also added the market phase in my scan column. Hope this will help some people.
View attachment 12324

View attachment 12325

View attachment 12326

Scan for accumulation on the daily time frame is below
View attachment 12327
Click to expand...
Can you please share the 3 custom filter scripts?
 
Miami51961 said:
Finding Bullish Stocks On Weekly and Daily Time Frame For ThinkOrSwim
I know there has been much talk on finding trending or bullish stocks.

After playing around with the scanning feature and using the market phase indicator it really has become easy to find stocks based on bullish, bearish, accumulation, or whatever phase you are looking for. Below are some screenshots and explanations.

I am using the market phase by trend advisor Chuck Davis
https://usethinkscript.com/threads/market-phases-indicator-for-thinkorswim.1025/
It works extremely well. The scans are set up to look for weekly and daily Bullish trends.

What I found interesting is setting it to look for stocks in the accumulation phase gave some great results.

I also set it to look for stocks that just went from accumulation to the bullish phase.

By doing this I limited my scans to only the strong trending stocks.

I was also using "ichimoko" but you could use whatever method you like of course.

This scan just limits the strong trending stocks. If there are any suggestions or improvements please let me know.

I am scanning for only bullish stocks in this scan. I will add the accumulation phase and give an example.
Setting the scans becomes easy and utilizing both weekly and daily time frames hone in on good stocks.
I also added the market phase in my scan column. Hope this will help some people.
View attachment 12324

View attachment 12325

View attachment 12326

Scan for accumulation on the daily time frame is below
View attachment 12327
Click to expand...
Can you please share this scanner?
 
Miami51961 said:
Sorry for so many posts.
the code below is the one to use for your watch list, as it blocks out things that are not needed.
Add this to the watch list
Ruby: 
#Trend Advisor Market Phases;
#Credit to the Chuck Dukas for creating the system and for then author of the VolumeTrendLabels whose study was use to create this indicator. Ensure you set the correct aggregation period to then chart, this helps calculate the correct volume and price action.

def agg = getAggregationPeriod();
#input vPeriod = AggregationPeriod.day; #hint vPeriod: Enter the chart time you use here. Required to properly caluclate volume and price strength.
def vPeriod = getAggregationPeriod();
def O = open(period = vPeriod);
def H = high(period = vPeriod);
def C = close(period = vPeriod);
def L = low(period = vPeriod);
def V = volume(period = vPeriod);

def SV = V * (H - C) / (H - L);
def BV = V * (C - L) / (H - L);

# below determines if volume supports the move, adds conviction
#AddLabel(yes, "Buyer Vol Strong ", if high > high[1] and low > low[1] and BV*1.05 > SV then Color.GREEN else color.black);
#AddLabel(yes, "Seller Vol Strong", if high < high[1] and low < low[1] and SV*1.05 > BV then Color.MAGENTA else color.black);

# below determines if price supports the move
#AddLabel(yes, "Price Strong ", if high > high[1] and high [1] > high[2] and low > low[1] and low[1] > low[2] then Color.GREEN else color.black);
#AddLabel(yes, "Price Weak", if high < high[1] and high[1] < high[2] and low < low[1] and low[1] < low[2] then Color.MAGENTA else color.black);
def PriceStrong = high > high[1] and high [1] > high[2] and low > low[1] and low[1] > low[2];
def PriceWeak = high < high[1] and high[1] < high[2] and low < low[1] and low[1] < low[2];
def BuyVolStrong = high > high[1] and low > low[1] and BV*1.05 > SV;
def SellVolStrong = high < high[1] and low < low[1] and SV*1.05 > BV;

declare upper;
input price = close;
input displace = 0;
input avglength = 10; #hint avgLength: Then exponential average length you want to use for your pullback entries.
def fastavg = 50;
def slowavg = 200;

plot fastsma = Average( price, fastavg);
fastsma.SetDefaultColor(Color.Green);

plot slowsma = Average(price, slowavg);
slowsma.SetDefaultColor(Color.Red);

# Bullish criteria define below
# Define criteria for Bullish Phase : close > 50 SMA, close > 200 SMA, 50 SMA > 200 SMA
def bullphase = fastsma > slowsma && price > fastsma && price > slowsma;

# Define criteria for Accumulation Phase : close > 50 SMA, close > 200 SMA, 50 SMA < 200 SMA
def accphase = fastsma < slowsma && price > fastsma && price > slowsma;

# Define criteria for Recovery Phase : close > 50 SMA, close < 200 SMA, 50 SMA < 200 SMA
def recphase = fastsma < slowsma && price < slowsma && price > fastsma;

# Bearish Criteria define below
# Define criteria for Bearish Phase : close < 50 SMA, close < 200 SMA, 50 SMA < 200 SMA
def bearphase = fastsma < slowsma && price < fastsma && price < slowsma;

# Define criteria for Distribution Phase : close < 50 SMA, close < 200 SMA, 50 SMA > 200 SMA
def distphase = fastsma > slowsma && price < fastsma && price < slowsma;

# Define criteria for Warning Phase : close < 50 SMA, close > 200 SMA, 50 SMA > 200 SMA
def warnphase = fastsma > slowsma && price > slowsma && price < fastsma;

# Below conditions are for a possible entry when price touches the fastema
#def pbavg = MovingAverage(Average, price, avglength);
def pbavg = ExpAverage(data = price[-displace], length = avglength);

input bullpullback = yes; #hint bullpullback: Do you want to display the pullback arrows for bullish fast ema entries.
input bearpullback = yes; #hint bearpullback: Do you want to display the pullback arrows for bearish fast ema entries.

def bullishpb = low < pbavg && open > pbavg;
def bearishpb = high > pbavg && open < pbavg;

def bullpb = bullphase is true && bullishpb is true;
def bearpb = bearphase is true && bearishpb is true;

# Plot Signals
plot bullpb1 = if bullpullback then bullpb else 0;
bullpb1.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bullpb1.SetDefaultColor(Color.CYAN);
bullpb1.SetLineWeight(1);

plot bearpb1 = if bearpullback then bearpb else 0;
bearpb1.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
bearpb1.SetDefaultColor(Color.red);
bearpb1.SetLineWeight(1);

plot buphase = bullphase is true;
plot acphase = accphase is true;
plot rephase = recphase is true;

plot bephase = bearphase is true;
plot dphase = distphase is true;
plot wphase = warnphase is true;

# Identifies signals for Price and Volume Strength/Weakness
plot PrStrong = PriceStrong is true;
plot PrWeak = PriceWeak is true;

plot VolStrong = BuyVolStrong is true;
plot VolWeak = SellVolStrong is true;

# Adds Labels for Price/Volume Strength and Weakness
#AddLabel(yes, "Price Strong", if PriceStrong is true then Color.Green else color.BLACK);
#AddLabel(PriceWeak, "Price Weak", if PriceWeak is true then Color.Red else color.BLACK);
#AddLabel(SellVolStrong, "Sell Vol Strong", if SellVolStrong is true then color.RED else color.BLACK);
#assignBackgroundColor(if PrStrong then color.GREEN else if PrWeak then color.RED else color.BLACK);


# Below adds labels to the chart to identify what phase the underlying is in
AddLabel(bullphase, " Bull Phase" , if bullphase is true then Color.GREEN else Color.BLACK);
AddLabel(accphase, " Accumation Phase ", if accphase is true then Color.lIGHT_GREEN else Color.BLACK);
AddLabel(recphase, " Recovery Phase ", if recphase is true then Color.lIGHT_ORANGE else Color.BLACK);
AddLabel(warnphase, " Warning Phase ", if warnphase is true then Color.orANGE else Color.BLACK);
AddLabel(distphase, " Distribution Phase ", if distphase is true then Color.light_red else Color.BLACK);
AddLabel(bearphase, " Bear Phase ", if bearphase is true then Color.red else Color.BLACK);

#assignPriceColor(if bullphase then Color.GREEN else if bearphase then Color.RED else Color.orange);
Click to expand...
When adding the above script text to the thinkscript editor I get at the bottom:
"AddLabel is not allowed in this context" and the OK button is still grayed out?

I looked it up in the Help and AddLabel is legit ?
Thanks for any help on this.
 
kf4jrt said:
When adding the above script text to the thinkscript editor I get at the bottom:
"AddLabel is not allowed in this context" and the OK button is still grayed out?

I looked it up in the Help and AddLabel is legit ?
Thanks for any help on this.
Click to expand...

Yes, the AddLabel() function is "legit".
But it can only be utilized on charts and watchlists.

"AddLabel is not allowed in this context" and the OK button is grayed out when one attempts to use AddLabel() in scans, conditional orders, or other widgets.
 
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