Float Rotation Indicator for ThinkorSwim?

zeek

zeek

Active member
2019 Donor
I am wondering if anyone here could help code a float rotation indicator that basically shows on the chart when the float have rotated. I am aware of the fact that TOS does not have float data available so my idea is that the user inputs this number himself from whatever source they want. All i need is that the script has a float number input field in the settings and then preferrably draws vertical dotted lines over the chart at the rotation points.

There is currently a paid script avaliable doing exactly this from another coder i found on Twitter so my hope is that someone here could help code something similar for the users here.

This tool is very useful when trading low float names to see potential shifts in supply/demand during the day.
 
zeek

zeek

Active member
2019 Donor
To give you a better idea of what i am looking for, see the pic below which i borrowed from another trader/thinkscript coder on Twitter. Basically, i want to see when the float has rotated and i want this to be displayed just like in the pic, small dotted vertical lines shown only in the volume graph and if possible, a label for the float number just like in the pic.

And of course, an input field in the settings where the user can import their float number themself.

 
Last edited:
zeek

zeek

Active member
2019 Donor
I don`t think there is a PM system on this forum. At least i couldn`t find it.
 
O

ohiamluis

New member
i see, wanted to ask which twitter user that photo was from
 
zeek

zeek

Active member
2019 Donor
I got the pic from this user on Twitter, he has a lot of :cool: scripts but unfortunately he doesn`t share this one @ohiamluis
 
A

ankbhard

New member
@zeek

I am looking into this as well... I know that he is referencing "Shares" for his Float and then dividing the Volume with Shares (V/S) to get the Float Rotation. But don't know how can we refer "Shares" in the script...
 
zeek

zeek

Active member
2019 Donor
@zeek

I am looking into this as well... I know that he is referencing "Shares" for his Float and then dividing the Volume with Shares (V/S) to get the Float Rotation. But don't know how can we refer "Shares" in the script...

The float number can be from any source like finviz, yahoo etc. and then you can simply input that number into the script settings and it will draw the rotation lines based on that number.
 
A

ankbhard

New member
Okay, that was easy... Here you go.

You will need to input the Float from one of the sources; however, you will get all three labels. :)
Code:
#######################################################
input Float = 100000000;

def V = volume(GetSymbol(), AggregationPeriod.DAY);

def MktCP = Float * Close(GetSymbol(), AggregationPeriod.DAY);

plot x = (V/100/Float)*100;

AddLabel (yes, ("Float: ")+ Round(Float * .000001, 1) + "M", Color.CYAN);

Addlabel (yes, ("Float RT: ") + Round(x, 2), color.DARK_ORANGE);

AddLabel (yes, ("MCap: $")+ Round(MKtCP * .000001, 1) + "M", Color.CYAN);

##############################################################
 
Last edited by a moderator:
zeek

zeek

Active member
2019 Donor
Thanks for trying @ankbhard I did try your script but not sure how to interpret the data shown. As you can see in the chart below, i used a float number of 12,3 million for symbol GNPX which traded almost 84 million shares on friday so there should have been at least six rotations on friday alone (which your label show) but i can only see one vertical line at the beginning of friday. Any idea why it`s not showing all the other rotations?

And is there a way to only plot the rotation lines on the lower volume graph only instead of on the chart?

 
A

ankbhard

New member
Thanks for trying @ankbhard I did try your script but not sure how to interpret the data shown. As you can see in the chart below, i used a float number of 12,3 million for symbol GNPX which traded almost 84 million shares on friday so there should have been at least six rotations on friday alone (which your label show) but i can only see one vertical line at the beginning of friday. Any idea why it`s not showing all the other rotations?

And is there a way to only plot the rotation lines on the lower volume graph only instead of on the chart?



That is a stupid bug in the code as it shouldn't show any lines...

Try this:

#######################################################
input Float = 100000000;

def V = volume(GetSymbol(), AggregationPeriod.DAY);

def MktCP = Float * Close(GetSymbol(), AggregationPeriod.DAY);

plot x = (V/100/Float)*100;

AddLabel (yes, ("Float: ")+ Round(Float * .000001, 1) + "M", Color.CYAN);

Addlabel (yes, ("Float RT: ") + Round(x, 2), color.DARK_ORANGE);

AddLabel (yes, ("MCap: $")+ Round(MKtCP * .000001, 1) + "M", Color.CYAN);

x.Hide();

##############################################################
 
zeek

zeek

Active member
2019 Donor
Yes, the new code removes the lines shown earlier. But do you think it`s possible to have some sort of visual indicator on the chart too as soon as a rotation happens? It just makes it more simple to see where a shift in supply/demand may happen.

And if there is a possibility to also add audio alerts when a rotation happens, that would also be very useful.

Thanks:)
 
zeek

zeek

Active member
2019 Donor
@zeek - Any progress on float related script/indicator/scan

Nope, sorry. The script from ankbhard above does work but it`s only the labels. I hope someone here can figure out how to add vertical lines in the volume graph to visually show where the rotations happens.
 
H

HolyDiver

New member
@zeek I love this tread.
do u have any more indicators for micro caps?
I am trying to build ones for myself.
 
H

HolyDiver

New member
That is a stupid bug in the code as it shouldn't show any lines...

Try this:

#######################################################
input Float = 100000000;

def V = volume(GetSymbol(), AggregationPeriod.DAY);

def MktCP = Float * Close(GetSymbol(), AggregationPeriod.DAY);

plot x = (V/100/Float)*100;

AddLabel (yes, ("Float: ")+ Round(Float * .000001, 1) + "M", Color.CYAN);

Addlabel (yes, ("Float RT: ") + Round(x, 2), color.DARK_ORANGE);

AddLabel (yes, ("MCap: $")+ Round(MKtCP * .000001, 1) + "M", Color.CYAN);

x.Hide();

##############################################################
is there a way u can add to ur script that if mkt cap is less than lets say 10m it turns red?
also with float if float is less than 3m it does the same?
 

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