High and Low Reversals Indicator + Intraday Strategy For ThinkOrSwim

[BenTen]

@drsung This indicator will repaint until the signals are working. Sometimes it works and sometimes it doesn’t. Just know that when you’re using it.

 

[drsung]

Yes, I did notice the repaint today on the charts I was watching it on. It obviously gave some early and awesome signals on the all day trending charts. Going to test it some more to see if I can incorporate into my trading.

 

[Shinthus]

I tried backtesting. Does it not appear very often? It seems accurate otherwise.

 

[ganq]

@john3 This is a known issue with this indicator, not that it causes any problems for me but the fact that it repaints (sometimes it doesn't) kind of confuses new users.



The logic for generating and repainting the signals:



Hope that helps to clear things up. And at this point, there is no way to make it show all the old signals.

Hi @BenTen, how do you define a "trading session", is it the candles?, 15/30 minutes intervals?

 

[BenTen]

@ganq The current trading day on any time interval.

 

[wilmanv]

Thanks, Easy setup to try over papermoney this week

 

[joshuadstout]

Is there anything I can change to keep it from shrinking my chart in the cell?

 

[BenTen]

@joshuadstout Left click on your chart > Chart Scale > Uncheck fit studies.

 

[Rahul]

@BenTen Will the arrows appear as soon as they form? If so after how many candles?

 

[BenTen]

@Rahul You will see it during and after the candle is formed. There is no delay but there is repaint.

 

[Rahul]

@BenTen Thanks Ben. Are you using this indicator? What is best time frame to use this? Any other indicator to confirm this signal?

 

[BenTen]

@Rahul I do not. I like the 5m timeframe for this indicator.

 

[manishji]

@Tesh01 Here is the scanner

5min: https://tos.mx/7LPlbl

15min: https://tos.mx/NqObqK

Hi,

Is there a scanner for arrow up.
Thanks

 

[venkym]

@BenTen

for 5min & 15min scanner want to add stock last price should be $30 or some X value, can you share what line i need to add i nthe script?

 

[BenTen]

@raghavag2004 Take a look at this video https://usethinkscript.com/threads/how-to-use-the-tos-scanner.284/

 

[Steve2286]

seeing some great signals from this one - scanner but no watchlist column for this - correct?

 

[BenTen]

@Steve2286 That’s correct, we don’t have a watchlist column for this one.

 

[busyrain]

@BenTen I tried this code to quite a few stocks and the high reversal signal shows up in many of them but the low reversal signal never shows up. Is this expected and why? Thanks.

 

[BenTen]

@busyrain Make sure you have extended hours enabled or else you will not be able to receive bullish signals.

 

[busyrain]

@BenTen, thanks for your quick response. Yes that works!