Incompatible parameter

[TickTockTony]

Would anyone be kind enought to point out whats gong wrong with this code. I get a red box on the def statment and "Incompatible parameter: "RSI" at 17:5".

I have been screwing with it all day now.


#My Backtesting code Tony Baker 9-22-2023
#for MarketForecast and RSI
#


#marketForcaster definitions
input OverBought = 80;
input OverSold = 20;
input Show_Labels = yes;
input Show_Clusters = yes;
input price = close;
input length = 14;


def MF_Cluster = MarketForecast()."intermediate" < 20 and
MarketForecast()."Momentum" < 20 and
MarketForecast()."NearTerm" < 20 ;

#plot data = RSI()."RSI" crosses above 50 and MF_cluster is true within 10 bars;


AddOrder(OrderType.BUY_AUTO, MF_Cluster) ;

#AddOrder(OrderType.BUY_AUTO, RSI > 50 and RSI[1] < 50 and MF_Cluster == 1 within 10 bars) ;

AddOrder(OrderType.BUY_AUTO , "RSI"> 50 and "RSI[1]" < 50 and MF_cluster is true within 10 bars) ;

 

[MerryDay]

change:

AddOrder(OrderType.BUY_AUTO , "RSI"> 50 and "RSI[1]" < 50 and MF_cluster is true within 10 bars) ;

to:

def yRSI = RSI();
AddOrder(OrderType.BUY_AUTO , yRSI> 50 and yRSI[1] < 50 and MF_cluster is true within 10 bars) ;

The above will get rid of the error that you mentioned in your post.

I didn't play with the rest of your script but noticed:
1. you have a bunch of inputs which are not being used.
2. you do not have a sell order.

 

[TickTockTony]

Thanks V much for fixing my problem.
Yes I know about the unused inputs, the code is a work in progress.
Yes the code is the buy side ,in order for me to evaluate sell stratagies using "Floating P/L"
I have tried to reserch but can not find any reference to "def yRSI = RSI();". What does it do?

 

[MerryDay]

Thanks V much for fixing my problem.
Yes I know about the unused inputs, the code is a work in progress.
Yes the code is the buy side ,in order for me to evaluate sell stratagies using "Floating P/L"
I have tried to reserch but can not find any reference to "def yRSI = RSI();". What does it do?

You had a syntax error every time you referenced the RSI()
If referencing a ToS study multiple times; generally accepted coding practices suggest that you store it as a variable in a def statement so to minimize the number of calls.

def yRSI = RSI();

This will keep your script as efficient as possible.

But technically, you could have just fixed your syntax errors.
You originally coded:

AddOrder(OrderType.BUY_AUTO , "RSI"> 50 and "RSI[1]" < 50 and MF_cluster is true within 10 bars) ;

but ToS requires you to have () parentheses when referencing ToS studies.
The correct syntax:

AddOrder(OrderType.BUY_AUTO , reference RSI()."RSI" > 50 and reference RSI()."RSI"[1] < 50 and MF_cluster is true within 10 bars) ;

FYI:
Nobody writes all that out. ToS knows that it is a reference, so everybody leaves the reference word out.
AND the RSI is the 1st plot in the study so, it is the default. So everybody leaves off the
."RSI"
Shortcut correct syntax:

AddOrder(OrderType.BUY_AUTO , RSI() > 50 and RSI()[1] < 50 and MF_cluster is true within 10 bars) ;

 

[MerryDay]

@TickTockTony
also remember that parentheses are your friend:

this:

(RSI() > 50 and RSI()[1] < 50 and MF_cluster is true) within 10 bars

is very different from:

RSI() > 50 and RSI()[1] < 50 and (MF_cluster is true within 10 bars)

Not sure which you are looking for because you didn't use any parentheses to explain what you want occurring within 10 bars.

The most correct syntax:

(RSI() > 50 within 10 bars) and
(RSI()[1] < 50 within 10 bars) and
(MF_cluster is true within 10 bars)

IF that is what you are looking for.
It should be noted that running this iteration through the 10 past bars will start to make this script resource-intensive.

While it will work for creating AddOrder plots on a chart.
Depending on how much more you add on to this strategy; it may get too complex for conditional orders, watchlists, scans, or any other ToS widget.

hope this helps.

 

[TickTockTony]

Whats the best way for me to lean thinkscript? as an hardware engineer I always picked up coding from looking at examples of how others performed a task and built my code like lego bricks from bits I know.

 

[MerryDay]

Whats the best way for me to lean thinkscript? as an hardware engineer I always picked up coding from looking at examples of how others performed a task and built my code like lego bricks from bits I know.

Learning ThinkScript:
https://usethinkscript.com/p/learn-thinkorswim-coding-language/
https://tlc.thinkorswim.com/center/reference/thinkScript/tutorials

ThinkScript started as a simple plot scripting code. What traders have managed to make it do, is mostly undocumented and amazing.
So you are correct, the best way is looking at examples.
useThinkScript is the largest repository of ToS code on the web.

For instance, if you are feeling your way around the RSI, this one thread has a dozens and dozens of examples:
https://usethinkscript.com/threads/rsi-format-label-watchlist-scan-for-thinkorswim.798/ which will prevent future syntax errors.

Also consider collinearity, timeframes and these other factors when building a good basic strategy:
https://usethinkscript.com/threads/best-time-frame-for-trading-for-thinkorswim.12209/