I request combining 3 indicators into 1 paintbar study

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mod note:
this thread has 8 pages and then the continuing saga can be found:

I watched a webinar awhile back that made the premise that combining a trend based indicator, a momentum based indicator and a cycle based indicator gives a good indication of directional bias. I would like to combine these 3 components into one paintbar type indicator and am hoping one of you coding pros might find value in this and be willing to code it here for the community.
For the trend indicator I want to use supertrend available here by Mobius. Here is the link SuperTrend by Mobius
For the momentum indicator I want to use True Momentum Oscillator (TMO). Here is the link TMO for TOS
For the cycle indicator I want to use TOP Cycle Trader. I am posting the code for this indicator here-

declare lower;
#plot Data = close;
input   FastCycleLength = 5;
input   SlowCycleLength = 8;
#def   CycleLineColor=DefineGlobalColor(Color.RED);
#input   CycleHistColor=Color.BLUE;
#input   ZeroLineColor1 = GetColor(1);
DefineGlobalColor("CycleLineColor", Color.RED);
DefineGlobalColor("CyclehistColor", Color.BLUE);
DefineGlobalColor("ZeroLineColor", Color.YELLOW);
def H = high;
def L = low;
#def FastVar(0),SlowVar(0),DiffVar(0);

def FastVar = ExpAverage((H + L) / 2, FastCycleLength);
def SlowVar = Average((H + L) / 2, SlowCycleLength);
def DiffVar = FastVar - SlowVar;

plot pDiffVar = DiffVar;
plot pDiffVar2 = DiffVar;
plot pZeroLine = 0;
#Plot3(0    ,"Zero",ZeroLineColor);

Here is how I envision the paintbar working-
When the supertrend indicator is long that would equal +1, when its short -1.
When the TMO is green that would equal +1. when its red its -1.
When the TOP Cycle Trader is above zero that would equal +1, when its below zero -1.
When all 3 indicators are equal to +1 making +3 total the price bars would paint green.
When all 3 indicators are equal to -1 making -3 total the price bars would paint red.
If the combination of all 3 indicators equals anything else, the price bars would paint gray meaning all 3 indicators were not in agreement.

I am open to any and all suggestions. I considered MACD for the momentum indicator but thought TMO was better. Considered Doncian channel for trend but thought supertrend was better. I am hoping one of you coders out there find this idea worthy of putting in the effort to code and share with us here.

I also want to create a scan/ watchlist using this where I can add a number of stock symbols to a watchlist and have the following columns showing symbol, color of bar on a daily basis (or long term) (red, green, or gray), color of bar on a 15 or 30 minute basis (short term)(red, green, or gray, and a column showing average volatility for some period of bars to use as a sort column to find the symbols that are moving.

I want to use this in 3 ways. First as a way to confirm directional bias of trade I am in ( I should be long if bars are green). second with the scanner portion, when both a long term (daily) and a short term (15 or 30 min) are both same color then enter a trade in that colors direction. Lastly as a portfolio management feature. Take a portion of money and break into 5-10 slots each represented by a sector ETF such as 50K broken into 5 trading slots of 10K committed to each ETF. When daily bars are green for a specific ETF, that slot is long all 10K, when its red that slot is in cash.
Thank you in advance.
Last edited by a moderator:
ok everyone, In this version 1.9; I incorporated the MACD evaluation on the neutral paintbars. set the input of enableNeutralMACDPainter to yes, and all the neutral bars/conditions will then be further evaluated and painted based on the MACD condition. the MACD will paint with DARK reds and greens.

I will be working on integrating the rest of the indicator requests (5 to 6 new modules) throughout this week starting with HA's and will implement them in order of the threads.

Please take it for a spin and happy trading. Please provide any feedback for improvement or results as you all test it and what is working for you all.

#trend, a momentum and a cycle based indicator for ThinkorSwim V1.9
#@hockeycoachdoug Community Request
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