Inverted EMA For ThinkOrSwim

[halcyonguy]

I use an Exponential Moving Average to help me create price projections by displacing them. This allows me to 'see a possible path' that the price can take moving forward. See image below (BA on a 15 minute chart). Is there a way to plot the 'inversion' of the displaced EMA? Since I am not able to write thinkscript code, the way I do it is by opening another chart, adding a 'negative sign' before the ticker symbol and it gives me the inversion of the whole chart. I am hoping there's a simpler way of doing it. Any help would be greatly appreciated.

this will plot a normal EMA signal and an inverted version of it.

this is complex. i used highestall, lowestall, to find the vertical limits on the chart.
it calculates the distance the EMA is above the lowest level, then subtracts that number from the highest level, and plots the inverted version.

# invert an EMA signal
# halcyonguy 2/2022
def na = double.nan;
def h = highestall(high);
def l = lowestall(low);

input avg_type = AverageType.Exponential;
input avg_len = 20;
def ma1 = MovingAverage(avg_type, close, avg_len);

input show_ma1 = yes;
plot z1 = if show_ma1 then ma1 else na;
z1.setdefaultcolor(color.cyan);

def lowdiff = ma1 - l;
def ma1_inv = h - lowdiff;

input show_inverted_ma1 = yes;
plot z2 = if show_inverted_ma1 then ma1_inv else na;
z2.setdefaultcolor(color.yellow);
z2.SetStyle(Curve.MEDIUM_DASH);

addlabel(1,"original",color.cyan);
addlabel(1,"inverted",color.yellow);
#

 

[jgj]

Wow. That was fast. Thank you so much. I didn't know how complex it was going to be. It works well. I added 'displace' so I could create the projections. See the images below.

https://imgur.com/jdaX8h5

Here's an example of the projection overlaid on to Friday (yesterday). You'll see that if you followed the inversion, you would have an idea of the price movement for the day.

https://imgur.com/RBfR1bJ

The image below will show you where I got the projection from. You're looking at a 5 day intraday (5 minute) chart. I am using a 4 day cycle which includes weekends in the count. For this example, the day was Friday, so I went back 4 days to Monday.

https://imgur.com/SApGTRA

So if Today is Monday and I want to get an idea of the price movement, I count 4 days back and that takes me to Thursday. Using the exponential moving average with a length of 5, I move the EMA forward (displace) to Monday, I'd get a projection. I've found out over the years that projections based on this cycle INVERTS. So using the inversion you created, I can see whether "Monday's price movement' would follow the normal cycle or the inversion. Depending on which time frame i use ( 5, 15 or 60 min., bars) I would just count the number of bars per day and use that to enter the correct displacement. I created an excel chart for this.
Anyway, thank you so much for your help. You're awesome.,