Follow Line Indicator For ThinkOrSwim

[8Nick8]

This setup is most true to the video:
https://usethinkscript.com/threads/follow-line-indicator-for-thinkorswim.9789/page-3#post-100408

May I know if this indicator repaints?

 

[Santhosh]

May I know if this indicator repaints?

In my observation, this indicator repaints until the candle closes. After that, it does not. I like the indicator.

 

[Santhosh]

I'm not sure where I obtained this code from. Input parameter BbPeriod is set to '6' in this case rather than'21'. According to my initial observations, this is producing signals that are more accurate than the original BB period length (i.e '21')

 

[oldyoungguy]

I found a very interesting positive youtube video with lots of comments today. It is named as :
FASTEST & Most AGGRESSIVE Best Indicators For ZERO Lag Scalping Trading With Price Action Strategy

It needs three indicators. The owner is a TradingView user. His setup is on TradingView.com. The three indicator are these:

Hull Suite by InSilico
QQE MOD
FLI (Follow Line Indicator)

 

[MerryDay]

I found a very interesting positive youtube video with lots of comments today. It is named as :
FASTEST & Most AGGRESSIVE Best Indicators For ZERO Lag Scalping Trading With Price Action Strategy

https://usethinkscript.com/threads/follow-line-indicator-for-thinkorswim.9789/page-4#post-101173

 

[bcnhill]

Just a general Thank You to the people who put this all set up together. I have to say it has been working overall quite well in the Nasdaq. I vary my time frames as I am still working which suites me best, but overall this is becoming a real go to. Those of us that are less technical really do appreciate those on this site with the incredible skills to create these in a way that is approachable. Cheers!

 

[sonnytrader]

Great Info. I've got these indicators in TOS now and also the Follow Line Indicator. Thanks to you guys. I'm using it to scalp E-mini S&P Futures. (I would put a screen shot but I am new to forum and haven't figured out how to do that yet) I want to use these indicators on a 5 minute candlestick chart but can't get the settings right. It lines up on a 15 minute chart but not on the 5. Anyone got this setup on a 5 minute chart yet?

can you share the code for your setup

http://tos.mx/N05l77W
These are all the indicators you mention on a 5 minute chart. It seems to work well enough-if not can you please be specfic?

I downloaded this setup....is this all you use to scalp es minis....if so how are you determining your entries exits etc

 

[MerryDay]

can you share the code for your setup


I downloaded this setup....is this all you use to scalp es minis....if so how are you determining your entries exits etc

https://usethinkscript.com/threads/follow-line-indicator-for-thinkorswim.9789/page-4#post-101173

 

[bcnhill]

can you share the code for your setup


I downloaded this setup....is this all you use to scalp es minis....if so how are you determining your entries exits etc

I find that using a Multi time frame set up can be useful to this as well. The example I am posting is for a 5/15 minute pairing for both Follow Line and the Hull 55. Learning from my last post, I have turned all the paint candle functionality off, the individual user can decide which indicator/time frame will do that if desired.

Review the MTF discussion in this link to be sure to use it correctly:

https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/

I like the upper chart as simple as possible, so I placed the higher time frame into the lower studies section. Easy to change if desired.

The BbPeriod is 21, which is the initial value provided. Some have used a setting of 6 instead. Again, that is best left up to the individual trader. Would love to hear others results with the two.

The video does a good job of describing how to use this in terms of entries and stop outs.

http://tos.mx/Gv5sbFI

I do sometimes use slightly lower time frames as well, but in my view the 1 minute can get too choppy.

Oh, and I trade the QQQ myself. I use some other tools as well but this is really becoming a go to for me personally.

 

[willohara131]

Liking the look of this setup. I have been running with Confirmation Candles. However looking for a simpler setup that gives buy and sell signals right on chart to use along with some other indicators I use that should work really well.

What post has the final script that was moved to TOS from trading view.

Thanks

 

[MerryDay]

Liking the look of this setup. I have been running with Confirmation Candles. However looking for a simpler setup that gives buy and sell signals right on chart to use along with some other indicators I use that should work really well.

What post has the final script that was moved to TOS from trading view.

Thanks

There is no "final" script. There are several scripts of several flavors that posters have provided that fit their style of trading.
If your question is which scripts are most true to the video of the Tradingview indicators
It is this setup:
Shared Chart Link: http://tos.mx/N05l77W Click here for --> Easiest way to load shared links
This setup includes the FollowTheLine Indicator as well as its companions.
Be aware that both the Hull Suite and the Follow The Line want to paint the chart candles.
You have to chose which one that you want to use by following the directions found here:
https://usethinkscript.com/threads/follow-line-indicator-for-thinkorswim.9789/page-3#post-100424

 

[iSpider]

do I wait for a bar close when I get all three signals in alinement or should I get in immediately on the trade, can anyone share their experiences with these signals and what time frames they use, greatly appreciated, thank you

 

[dsvitale]

Can someone add an alert to the Follow the Line indicator to ding whenever there is an arrow signal....please and thank you


# Follow Line Indicator
# Coverted to ToS from TV by bigboss. Original © Dreadblitz

input BbPeriod = 21;
input BbDeviations = 1;
input UseAtrFilter = yes;
input AtrPeriod = 5;
input HideArrows = no;

def BBUpper=SimpleMovingAvg(close,BBperiod)+stdev(close, BBperiod)*BBdeviations;
def BBLower=SimpleMovingAvg(close,BBperiod)-stdev(close, BBperiod)*BBdeviations;

def BBSignal = if close>BBUpper then 1 else if close<BBLower then -1 else 0;

def TrendLine =
if BBSignal == 1 and UseATRfilter == 1 then
max(low-atr(ATRperiod),TrendLine[1])
else if BBSignal == -1 and UseATRfilter == 1 then
min(high+atr(ATRperiod),TrendLine[1])
else if BBSignal == 0 and UseATRfilter == 1 then
TrendLine[1]
else if BBSignal == 1 and UseATRfilter == 0 then
max(low,TrendLine[1])
else if BBSignal == -1 and UseATRfilter == 0 then
min(high,TrendLine[1])
else if BBSignal == 0 and UseATRfilter == 0 then
TrendLine[1]
else TrendLine[1];

def iTrend = if TrendLine>TrendLine[1] then 1 else if TrendLine < TrendLine[1] then -1 else iTrend[1];

plot buy = if iTrend[1]==-1 and iTrend==1 and !HideArrows then TrendLine else Double.NaN;
buy.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
buy.SetDefaultColor(Color.GREEN);
buy.SetLineWeight(3);

plot sell = if iTrend[1]==1 and iTrend==-1 and !HideArrows then TrendLine else Double.NaN;
sell.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
sell.SetDefaultColor(Color.RED);
sell.SetLineWeight(3);

plot tline = TrendLine;
tline.AssignValueColor(if iTrend > 0 then CreateColor(33,150,243) else CreateColor(255,82,82));
tline.SetLineWeight(2);

 

[MerryDay]

Can someone add an alert to the Follow the Line indicator to ding whenever there is an arrow signal....please and thank you


# Follow Line Indicator
# Coverted to ToS from TV by bigboss. Original © Dreadblitz

input BbPeriod = 21;
input BbDeviations = 1;
input UseAtrFilter = yes;
input AtrPeriod = 5;
input HideArrows = no;

def BBUpper=SimpleMovingAvg(close,BBperiod)+stdev(close, BBperiod)*BBdeviations;
def BBLower=SimpleMovingAvg(close,BBperiod)-stdev(close, BBperiod)*BBdeviations;

def BBSignal = if close>BBUpper then 1 else if close<BBLower then -1 else 0;

def TrendLine =
if BBSignal == 1 and UseATRfilter == 1 then
max(low-atr(ATRperiod),TrendLine[1])
else if BBSignal == -1 and UseATRfilter == 1 then
min(high+atr(ATRperiod),TrendLine[1])
else if BBSignal == 0 and UseATRfilter == 1 then
TrendLine[1]
else if BBSignal == 1 and UseATRfilter == 0 then
max(low,TrendLine[1])
else if BBSignal == -1 and UseATRfilter == 0 then
min(high,TrendLine[1])
else if BBSignal == 0 and UseATRfilter == 0 then
TrendLine[1]
else TrendLine[1];

def iTrend = if TrendLine>TrendLine[1] then 1 else if TrendLine < TrendLine[1] then -1 else iTrend[1];

plot buy = if iTrend[1]==-1 and iTrend==1 and !HideArrows then TrendLine else Double.NaN;
buy.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
buy.SetDefaultColor(Color.GREEN);
buy.SetLineWeight(3);

plot sell = if iTrend[1]==1 and iTrend==-1 and !HideArrows then TrendLine else Double.NaN;
sell.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
sell.SetDefaultColor(Color.RED);
sell.SetLineWeight(3);

plot tline = TrendLine;
tline.AssignValueColor(if iTrend > 0 then CreateColor(33,150,243) else CreateColor(255,82,82));
tline.SetLineWeight(2);

https://usethinkscript.com/threads/follow-line-indicator-for-thinkorswim.9789/page-2#post-90045

 

[dsvitale]

What is the best setting for intra-day trading on the 2 or 5 min chart for the /ES

 

[MerryDay]

What is the best setting for intra-day trading on the 2 or 5 min chart for the /ES

This indicator was created on Tradingview here:
https://www.tradingview.com/script/29iYBNku-Follow-Line-Indicator/
for trading bitcoin on the hourly chart

Other platforms have methodology for optimizing indicators for use on other timeframes and with other instruments but unfortunately, ToS does not.
1. You need to put the indicator on your chart many many times.
2. Change the colors of the plots so you can tell the difference between the many many versions.
3. Then it is relatively easy; through extrapolation and interpolation; to see which gets you closer to what you want your strategy to look like.

You need to be methodical in your testing of the inputs to determine which ones moving you closer to your goal.

 

[71Warhawk]

Stock Hacker Scan For The Follow Line Indicator in ThinkOrSwim

Here is a scan link: http://tos.mx/RMnLtWM Click here for --> Easiest way to load shared links
View attachment 14310
@freedom Traders @Tradervic @hockeycoachdoug @darockra3

MerryDay, will you please create a scan for me when close crosses above/below the Follow the Line, line? Thanks

 

[victor7584]

I want to thank all our members who contributed to making this indicator. I have used this for scalping options in a 5-minute time frame and have had great success with it. No stragerdy is 100% win rate. With this strategy, you are way Green if your RR is 1:2. This is my absolute go-to when I scalp. I love the simplicity of the system. Once again, Thank you

 

[TPTrades]

Here is an MTF version

# Follow Line Indicator MTF
# Coverted to ToS from TV by bigboss. Original © Dreadblitz
input period        = AggregationPeriod.FIFTEEN_MIN;
input BbPeriod      = 21;
input BbDeviations  = 1;
input UseAtrFilter  = yes;
input AtrPeriod     = 5;
input HideArrows    = no;

def h = high(period=period);
def l = low(period=period);
def c = close(period=period);

def ATR = MovingAverage(AverageType.WILDERS, TrueRange(h, c, l), AtrPeriod);


def BBUpper=SimpleMovingAvg(c,BBperiod)+stdev(c, BBperiod)*BBdeviations;
def BBLower=SimpleMovingAvg(c,BBperiod)-stdev(c, BBperiod)*BBdeviations;

def BBSignal = if c>BBUpper then 1 else if c<BBLower then -1 else 0;

def TrendLine =
    if BBSignal == 1 and UseATRfilter == 1 then
        max(l-ATR,TrendLine[1])
    else if BBSignal == -1 and UseATRfilter == 1 then
        min(h+ATR,TrendLine[1])
    else if BBSignal == 0 and UseATRfilter == 1 then
        TrendLine[1]
    else if BBSignal == 1 and UseATRfilter == 0 then
        max(l,TrendLine[1])
    else if BBSignal == -1 and UseATRfilter == 0 then
        min(h,TrendLine[1])
    else if BBSignal == 0 and UseATRfilter == 0 then
        TrendLine[1]
    else TrendLine[1];

def iTrend = if TrendLine>TrendLine[1] then 1 else if TrendLine < TrendLine[1] then -1 else iTrend[1];
 
plot buy = if iTrend[1]==-1 and iTrend==1 and !HideArrows then TrendLine else Double.NaN;
buy.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
buy.SetDefaultColor(Color.GREEN);
buy.SetLineWeight(3);

plot sell = if iTrend[1]==1 and iTrend==-1 and !HideArrows then  TrendLine else Double.NaN;
sell.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
sell.SetDefaultColor(Color.RED);
sell.SetLineWeight(3);

plot tline = TrendLine;
tline.AssignValueColor(if iTrend > 0 then CreateColor(33,150,243) else CreateColor(255,82,82));
tline.SetLineWeight(2);

Great indicator. How would we be able to scan with this?

 

[MerryDay]

Great indicator. How would we be able to scan with this?

The ToS app does not allow for the use of MTF scripts in the scan hacker.
When setting up a scan, the first criteria is the timeframe.
It then filters your conditions on that timeframe.
If it encounters other timeframes in the script, it will throw an error:
Secondary timeframes not allowed.