Half Trend (Halftrend) Scalper Indicator for ThinkorSwim

[john5788]

Modified the study to be imported as a scanner. Comment/uncomment the desired signal arrow to scan for at the bottom of the code.

Shareable link: https://tos.mx/H79KxEJ

# PRC_HalfTrend Scanner
# Original indicator study by Mobius Apr 2020
# Comment/uncomment desired plot at end of script
# 2020.08.20 -john5788

input Amplitude = 3;

def lowpricei;
def highpricei;
def lowma;
def highma;
def barindex = BarNumber();
def nexttrend;
def maxlowprice;
def trend;
def minhighprice;
def up;
def down;

lowpricei = Lowest(low, Amplitude);
highpricei = Highest(high, Amplitude);
lowma = Average(low, Amplitude);
highma = Average(high, Amplitude);
if barindex > Amplitude and
          nexttrend[1] == 1
{
    maxlowprice = Max(lowpricei, maxlowprice[1]);
    trend = if highma < maxlowprice[1] and close < low[1]
             then 1
             else trend[1];
    nexttrend = if highma < maxlowprice[1] and close < low[1]
                 then 0
                 else nexttrend[1];
    minhighprice = if highma < maxlowprice[1] and close < low[1]
                    then highpricei
                    else minhighprice[1];
}
else if nexttrend[1] == 0
{
    minhighprice = Min(highpricei, minhighprice[1]);
    trend = if lowma > minhighprice[1] and close > high[1]
             then 0
             else trend[1];
    nexttrend = if lowma > minhighprice[1] and close > high[1]
                 then 1
                 else nexttrend[1];
    maxlowprice = if lowma > minhighprice[1] and close > high[1]
                   then lowpricei
                   else maxlowprice[1];
}
else
{
    maxlowprice = maxlowprice[1];
    trend = trend[1];
    nexttrend = nexttrend[1];
    minhighprice = minhighprice[1];
}
if trend == 0
{
    up = if trend[1] <> 0
          then down[1]
          else Max(maxlowprice[1], up[1]);
    down = 0;
}
else if trend[1] <> 1
{
    down = up[1];
    up = 0;
}
else if trend == 1
{
    down = Min(minhighprice, down[1]);
    up = up[1];
}
else
{
    up = up[1];
    down = down[1];
}

def UpSignal = up[1] < 1 and up > 0;
def DownSignal = down[1] < 1 and down > 0;

plot UpSignalArrow = UpSignal within 5 bars;
#plot DownSignalArrow = DownSignal within 5 bars;

# End Code

 

[Deleted2090]

@BenTen Is there a way we can have this as a watchlist column? For like last 2 / 5 bars or configurable for that matter?

 

[BenTen]

@sobiswas Here is the watchlist column. If price is above the Halftrend = green. If below then red.

# PRC_HalfTrend | indicator
# 10.03.2017
# Ported by Mobius Apr 2020

input Amplitude = 3;

def lowpricei;
def highpricei;
def lowma;
def highma;
def barindex = barNumber();
def nexttrend;
def maxlowprice;
def trend;
def minhighprice;
def up;
def down;

plot halftrend;

lowpricei = Lowest(low, Amplitude);
highpricei = Highest(high, Amplitude);
lowma = average(low, Amplitude);
highma = average(high, Amplitude);
if barindex > Amplitude and
          nexttrend[1] == 1
    {
     maxlowprice = Max(lowpricei, maxlowprice[1]);
     trend = if highma < maxlowprice[1] and close < low[1]
             then 1
             else trend[1];
     nexttrend = if highma < maxlowprice[1] and close < low[1]
                 then 0
                 else nexttrend[1];
     minhighprice = if highma < maxlowprice[1] and close < low[1]
                    then highpricei
                    else minhighprice[1];
    }
else if nexttrend[1] == 0
    {
     minhighprice = Min(highpricei, minhighprice[1]);
     trend = if lowma > minhighprice[1] and close > high[1]
             then 0
             else trend[1];
     nexttrend = if lowma > minhighprice[1] and close > high[1]
                 then 1
                 else nexttrend[1];
     maxlowprice = if lowma > minhighprice[1] and close > high[1]
                   then lowpricei
                   else maxlowprice[1];
    }
else
    {
     maxlowprice = maxlowprice[1];
     trend = trend[1];
     nexttrend = nexttrend[1];
     minhighprice = minhighprice[1];
    }
if trend == 0
    {
     up = if trend[1] <> 0
          then down[1]
          else Max(maxlowprice[1], up[1]);
    down = 0;
    }
else if trend[1] <> 1
    {
     down = up[1];
     up = 0;# up[1] este era el error
    }
else if trend == 1
    {
     down = Min(minhighprice, down[1]);
     up = up[1];
    }
else
    {
     up =up[1];
     down = down[1];
    }
if up > 0
    {
     halftrend = up;
    }
else
    {
    halftrend = down;
    }
AssignBackgroundcolor(if close > halftrend then color.green else color.red);

 

[Champ]

Hello all!

Really appreciate all the efforts in this forum! great job.

I am wondering is there a final version of this study/WL column/scanner? and greatly appreciate if you can share TOS sharable links for the same?

 

[BenTen]

@ngunda You can get the script on the first page of this thread. Watch the video from this thread if you don't know how to use the scanner.

The watchlist column can be found here.

 

[BBDPDC]

I managed to change this successfully to label the line colour that the study paints after a bit of trial and error! Very pleased with myself for managing to complete such a simple task . Thanks for your help! Code below if anyone else is interested.

AddLabel(yes, if Up then "Bullish" + "" else "", color.GREEN);
AddLabel(yes, if Down then "Bearish" + "" else "", color.RED);

 

[yousillybilly]

I was linked to this by a friend unfortunately I cannot use thinkscript as I do not have a thinkorswimaccount and I am not allowed to make one as I do not live in the US.

Would it be possible to get this in Pinescript so that I can use it in tradingview?

Thank you

 

[BenTen]

@yousillybilly You can try this version on TradingView https://www.tradingview.com/script/U1SJ8ubc-HalfTrend/

 

[MerryDay]

To make post#1 into a strategy:

 

[InfamousCookie]

Thank you but maybe a couple of pictures would help to illustrate what I'm asking about. I've already played with the strategy of the code and I like what I'm seeing so I was moving on to papertrading and trying to get buy orders to initiate using code. So, let me ask, if I was to use this code, would the set up I have for the buy orders be correct as pictured or would some changes have to be made to the code or the order? Thank you.

 

[MerryDay]

@InfamousCookie Your conditional order is set up correctly.

 

[InfamousCookie]

@InfamousCookie Your conditional order is set up correctly.

Great! Thank you for your assistance and apologies for any confusion.

 

[ssmike123]

Modified the study to be imported as a scanner. Comment/uncomment the desired signal arrow to scan for at the bottom of the code.

Shareable link: https://tos.mx/H79KxEJ

# PRC_HalfTrend Scanner
# Original indicator study by Mobius Apr 2020
# Comment/uncomment desired plot at end of script
# 2020.08.20 -john5788

input Amplitude = 3;

def lowpricei;
def highpricei;
def lowma;
def highma;
def barindex = BarNumber();
def nexttrend;
def maxlowprice;
def trend;
def minhighprice;
def up;
def down;

lowpricei = Lowest(low, Amplitude);
highpricei = Highest(high, Amplitude);
lowma = Average(low, Amplitude);
highma = Average(high, Amplitude);
if barindex > Amplitude and
          nexttrend[1] == 1
{
    maxlowprice = Max(lowpricei, maxlowprice[1]);
    trend = if highma < maxlowprice[1] and close < low[1]
             then 1
             else trend[1];
    nexttrend = if highma < maxlowprice[1] and close < low[1]
                 then 0
                 else nexttrend[1];
    minhighprice = if highma < maxlowprice[1] and close < low[1]
                    then highpricei
                    else minhighprice[1];
}
else if nexttrend[1] == 0
{
    minhighprice = Min(highpricei, minhighprice[1]);
    trend = if lowma > minhighprice[1] and close > high[1]
             then 0
             else trend[1];
    nexttrend = if lowma > minhighprice[1] and close > high[1]
                 then 1
                 else nexttrend[1];
    maxlowprice = if lowma > minhighprice[1] and close > high[1]
                   then lowpricei
                   else maxlowprice[1];
}
else
{
    maxlowprice = maxlowprice[1];
    trend = trend[1];
    nexttrend = nexttrend[1];
    minhighprice = minhighprice[1];
}
if trend == 0
{
    up = if trend[1] <> 0
          then down[1]
          else Max(maxlowprice[1], up[1]);
    down = 0;
}
else if trend[1] <> 1
{
    down = up[1];
    up = 0;
}
else if trend == 1
{
    down = Min(minhighprice, down[1]);
    up = up[1];
}
else
{
    up = up[1];
    down = down[1];
}

def UpSignal = up[1] < 1 and up > 0;
def DownSignal = down[1] < 1 and down > 0;

plot UpSignalArrow = UpSignal within 5 bars;
#plot DownSignalArrow = DownSignal within 5 bars;

# End Code

@john5788 is it possible to expand this scanner, based on this criteria. Adding RSI, but changing period from 14 to 2. Also Overbought is 90, Oversold is 10. Sell Signals are generated when "Half-Trend" is red and RSI reaches first at above 90. Sell below the bar that generated RSI bar above 90. or Next Bar if first bar is not triggered, as long as RSI is still above 90. Reverse is for buy signals.

 

[MerryDay]

@ssmike Here is how to add RSI to your scan:
https://usethinkscript.com/threads/rsi-scanner-for-thinkorswim-oversold-overbought-scan.3444/

 

[young_and_dumb]

This indicator is really great. Similar to a Z-Score. really enjoy this code. thanks for posting

 

[ssmike123]

@ssmike Here is how to add RSI to your scan:
https://usethinkscript.com/threads/rsi-scanner-for-thinkorswim-oversold-overbought-scan.3444/

@MerryDay, yes thanks. At this point I am not sure the original scan by John5788, what is it scanning for. The Half trend has 2 conditions, either up or down, yet I am not sure if the scan is scanning for direction of Half Trend or not?

 

[MerryDay]

@MerryDay, yes thanks. At this point I am not sure the original scan by John5788, what is it scanning for. The Half trend has 2 conditions, either up or down, yet I am not sure if the scan is scanning for direction of Half Trend or not?

@ssmike123 The directions instruct you to:

Comment/uncomment the desired signal arrow to scan for at the bottom of the code.

 

[ssmike123]

@ssmike123 The directions instruct you to:

MaryDay, Don't see Comment/Uncomment, at the bottom of code
Code:
# PRC_HalfTrend Scanner
# Original indicator study by Mobius Apr 2020
# Comment/uncomment desired plot at end of script
# 2020.08.20 -john5788

input Amplitude = 3;

def lowpricei;
def highpricei;
def lowma;
def highma;
def barindex = BarNumber();
def nexttrend;
def maxlowprice;
def trend;
def minhighprice;
def up;
def down;

lowpricei = Lowest(low, Amplitude);
highpricei = Highest(high, Amplitude);
lowma = Average(low, Amplitude);
highma = Average(high, Amplitude);
if barindex > Amplitude and
nexttrend[1] == 1
{
maxlowprice = Max(lowpricei, maxlowprice[1]);
trend = if highma < maxlowprice[1] and close < low[1]
then 1
else trend[1];
nexttrend = if highma < maxlowprice[1] and close < low[1]
then 0
else nexttrend[1];
minhighprice = if highma < maxlowprice[1] and close < low[1]
then highpricei
else minhighprice[1];
}
else if nexttrend[1] == 0
{
minhighprice = Min(highpricei, minhighprice[1]);
trend = if lowma > minhighprice[1] and close > high[1]
then 0
else trend[1];
nexttrend = if lowma > minhighprice[1] and close > high[1]
then 1
else nexttrend[1];
maxlowprice = if lowma > minhighprice[1] and close > high[1]
then lowpricei
else maxlowprice[1];
}
else
{
maxlowprice = maxlowprice[1];
trend = trend[1];
nexttrend = nexttrend[1];
minhighprice = minhighprice[1];
}
if trend == 0
{
up = if trend[1] <> 0
then down[1]
else Max(maxlowprice[1], up[1]);
down = 0;
}
else if trend[1] <> 1
{
down = up[1];
up = 0;
}
else if trend == 1
{
down = Min(minhighprice, down[1]);
up = up[1];
}
else
{
up = up[1];
down = down[1];
}

def UpSignal = up[1] < 1 and up > 0;
def DownSignal = down[1] < 1 and down > 0;

plot UpSignalArrow = UpSignal within 5 bars;
#plot DownSignalArrow = DownSignal within 5 bars;

# End Code

 

[MerryDay]

MaryDay, Don't see Comment/Uncomment, at the bottom of code

This is set to scan for the upSignalArrow

plot UpSignalArrow = UpSignal within 5 bars;
#plot DownSignalArrow = DownSignal within 5 bars;

Make it look like this, to scan for the DownSignalArrow

#plot UpSignalArrow = UpSignal within 5 bars;
plot DownSignalArrow = DownSignal within 5 bars;

 

[mailbagman2000]

This is set to scan for the upSignalArrow

Make it look like this, to scan for the DownSignalArrow

I moved the plot up arrow to within 3 bars. Seem to be able to get better ideas before they advance more.