YungTraderFromMontana
Well-known member
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Long Term Bull Indicator for ThinkorSwim
- Thread starter YungTraderFromMontana
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Hi, nothing plots on the graph, is this still in progress?
YungTraderFromMontana
Well-known member
Sorry about that one, I forgot to default them as bolean plots. If you go into the study settings and look under plot you will see numerical. Change it to bolean arrows of the color of your choosing.
Can you elaborate in order to get it to paint the plot? thanks
plot bullish = (Value > 0) and (price > MidLine) and (RSI > 50);
plot bullish2 = (Main > Signal) and (Main < ostmo);
plot bearish = (Value < avg) and (Main < Signal) and (Main > obtmo) and (RSI < 60);
plot bullish = (Value > 0) and (price > MidLine) and (RSI > 50);
plot bullish2 = (Main > Signal) and (Main < ostmo);
plot bearish = (Value < avg) and (Main < Signal) and (Main > obtmo) and (RSI < 60);
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@YungTraderFromMontana Congratulations on attempting to make a longer time frame CSA for those of us that do not trade at the beat of a humming birds wings! There is room for all of us here. I have my own ideas on what works as I've been investing since before computers and drew my charts by hand...
This is your idea but I did notice a few things:
So that your code is not overly duplicitous, please use stockcharts dot com and/or Investopedia for explanations and examples of studies. Stockcharts . com was created by Certified Market Technicians (CMT's) and is considered one of the better places for full explanations.
Please read what I've written in the tutorials on TMO and RSI Laguerre. It seems the first piece of code is from a Connors RSI2 study that has a fractal energy component. It's missing some pieces. Connors RSI2 is for scalpers.
The TMO code seems off as well in re; the plot code logic. Your 180 day SMA has too many words that you don't need. I know ... your just starting ... just preliminary observations so that you have a solid base.
Good luck, I look forward to see where you are going with this. Markos
This is your idea but I did notice a few things:
So that your code is not overly duplicitous, please use stockcharts dot com and/or Investopedia for explanations and examples of studies. Stockcharts . com was created by Certified Market Technicians (CMT's) and is considered one of the better places for full explanations.
Please read what I've written in the tutorials on TMO and RSI Laguerre. It seems the first piece of code is from a Connors RSI2 study that has a fractal energy component. It's missing some pieces. Connors RSI2 is for scalpers.
The TMO code seems off as well in re; the plot code logic. Your 180 day SMA has too many words that you don't need. I know ... your just starting ... just preliminary observations so that you have a solid base.
Good luck, I look forward to see where you are going with this. Markos
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@markos IF an indicator on a smaller timeframe lets say 5 min can establish a longer term "trend" that same indicator will be great for long term traders/investors...,however, it does not work the same way if you were to do so backwards. Just my $.02...
I'd be curious how this CSA stacks up to other day trading CSA's...
I'd be curious how this CSA stacks up to other day trading CSA's...
YungTraderFromMontana
Well-known member
sure, in the meantime you can manually change it to plot arrows in the study settings.
There's two side to that coin. Your 2 cents is understood from your perspective. My perspective is that 5 minute prices are absolutely random. That is the reason that the ORB was created by CBOE & CME floor traders back in the 1950's. That disagreement in point of view is what makes a market.
This will not be a day trading CSA but instead, @YungTraderFromMontana wishes to create something that speaks to him on a long term chart eg daily / weekly / monthly as I read it.
YungTraderFromMontana
Well-known member
My goal is to stick to mainstream indicators, mainly Bollinger Bands, MACD, and RSI because I know they will be used for years to come. I'm going to design it for the long term but similar conditions in daily timeframes are found in smaller timeframes as well so it should hopefully work well both ways.
I just realized the midline of a bb is the equivalent of a 20ma. I may need help on later things but not now. Thank you.
@YungTraderFromMontana please include the full code including the header.
If this is something pieced together from another study, which is something I do at times, please leave the header in place.
Here's an example of a code header template:
# Fib Choices V1.1
# BLT, with modifications by tomsk
# 12.25.2019
# V1.0 - 12.24.2019 - BLT - Initial release of Fib Choices
# V1.1 - 12.25.2019 - tomsk - Marked High/Low, color coded Fib upper/lower extensions
Thank you, Markos
If this is something pieced together from another study, which is something I do at times, please leave the header in place.
Here's an example of a code header template:
# Fib Choices V1.1
# BLT, with modifications by tomsk
# 12.25.2019
# V1.0 - 12.24.2019 - BLT - Initial release of Fib Choices
# V1.1 - 12.25.2019 - tomsk - Marked High/Low, color coded Fib upper/lower extensions
Thank you, Markos
@markos That's not what I meant...I understand that 5 min chart maybe considered random for more long term traders/investors such as yourself...What I meant is that IF you can create a CSA study that is able to find a trend on what you described as a random timeframe...Imagine what that same indicator or CSA study can do on a more longer timeframe. I don't know how ORB would work on a daily timeframe as the longest timeframe I've seen it work on was 30m and that left much out on the table in terms of potential profits. But that could be the day trader speaking in me vs the investor/long term trader.
@YungTraderFromMontana did you for shits and giggles compare the results in what you're trying to create to the CSA study that @diazlaz is working on? How do they compare? Seems to me like you're going to use similar indicators hence my initial comment to @markos
I asked @diazlaz to incorporate Derivative RSI as well as Relative Volume into the next CSA version along with Hull MA, Schaff Trend and another Mobius version of HA SuperTrend. Perhaps you can use some of those indicators in your CSA once you see how those respond to the current CSA...I am looking forward to your findings.
@YungTraderFromMontana did you for shits and giggles compare the results in what you're trying to create to the CSA study that @diazlaz is working on? How do they compare? Seems to me like you're going to use similar indicators hence my initial comment to @markos
I asked @diazlaz to incorporate Derivative RSI as well as Relative Volume into the next CSA version along with Hull MA, Schaff Trend and another Mobius version of HA SuperTrend. Perhaps you can use some of those indicators in your CSA once you see how those respond to the current CSA...I am looking forward to your findings.
YungTraderFromMontana
Well-known member
at the moment the combo study better but hopefully I'll be able to outperform it.
Well either way...at least you get the experience in coding and making something of your own. And who knows maybe you'll stumble onto something along the way.
what does it mean by long term?
i did some backtest, seems to work quite well even on swings, 1-2 weeks tf.
i did some backtest, seems to work quite well even on swings, 1-2 weeks tf.
@Playstation When you trade off of a weekly and monthly chart instead of a daily...
oh sorry, I meant like this indicator's "Long Term" is defined as to trade within which tf, although the indicator says to use on a daily chart.
So I did a backtest to check within a daily chart, the effective tf to trade within seems to range from 2 days to 2 weeks to 2 months, but not wise to do longer than that.
So I did a backtest to check within a daily chart, the effective tf to trade within seems to range from 2 days to 2 weeks to 2 months, but not wise to do longer than that.
You mean change "show breakout signals" to yes? I do that but I dont see anything different
YungTraderFromMontana
Well-known member
It very well may work better on unintended timeframes. I'm still working on it. The next version will incorporate a bearish version as well as Williams%R and CCI. I also removed bb because of lag, the goal is to have a leading indicator. I'll finish it by tomorrow. New version even works well on smaller timeframes.
YungTraderFromMontana
Well-known member
This should work, this is the version I'm working on now which includes virtually no lag (no ma's of any kind besides one length 5 ema in the tmo)
It will be a good deal more accurate by tomorrow when I crunch some numbers.
https://tos.mx/TnuHk8s
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