Futures Market Ratio Indicator for ThinkorSwim

BenTen

BenTen

Administrative
Staff
VIP
This one is very useful for futures traders on 15 min and daily. The way it is set now is /RTY vs /ZN because I trade /RTY and /ES, but it is a ratio indicator, so it can be set to any ratio. Generally speaking, when bonds go up index futures go down. I also use it to see a ration of /ES vs /VX. It can probably be improved with a simple moving average, because as is it is using the high/low of a 20 MA.


thinkScript Code

Rich (BB code):
declare lower;

input secondSym = "/ZN";
def div = if !IsNaN (close("/RTY")) then close("/RTY") else div[1];
def RatioQ = close (secondSym) / div;
plot Ratio = RatioQ;

#def divZ = if !IsNaN (close("/RTY")) then close("/RTY") else divZ[1];
#def RatioZ = close("/ZB") / divZ;
#plot RatioZB = RatioZ;

def RatioQH = high (secondSym) / div[20];
plot RatioH = RatioQH;

def RatioQL = low (secondSym) / div[20];
plot RatioL = RatioQL;

#AddCloud (RatioH, RatioL, color.Green, Color.RED);

AddVerticalLine(if Ratio crosses above RatioH then 1 else 0, "S", Color.RED);
AddVerticalLine(if Ratio crosses below RatioL then 1 else 0, "B", Color.GREEN);

#(low(secondSym))

#plot ave = data;
#ave.SetLineWeight(2);

Ratio.DefineColor("Up", Color.Green);
Ratio.DefineColor("Down", Color.Red);
Ratio.DefineColor("Equal", Color.Yellow);
Ratio.AssignValueColor
(
if Ratio > Ratio[1]
then Ratio.color("Up")
else if Ratio < Ratio[1]
then Ratio.color("Down")
else Ratio.color("Equal")
);

Shareable Link


A slightly different version of the above ratio:

Thanks @john3 for sending in the code.
 
Last edited:

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