Looking for DTOSC indicator

[metaller]

Hi !
Does anybody know where to find thinkScript version if DTOSC indicator (Dynamic Trader OSCillator) from Robert C. Miner book "High probability trading strategies" ?

 

[RickAns]

Hi, have you looked into the Stochastic RSI indicator in ThinkorSwim? According to a few others the DTOSC is very similar to it. Just modify the values to match.

https://www.tradingview.com/script/EVmsde9k-DTOSC/

http://www.traderslaboratory.com/forums/topic/4461-dtosc-for-thinkorswim/

 

[metaller]

@RickAns Thanks, I will take a look !

 

[metaller]

Here is my version of DTOSC for ThinkOrSwim :

declare lower;

input paramSet = 2;
input MAType = AverageType.EXPONENTIAL;

# parameter sets
def a = if paramSet == 1 then 8
   else if paramSet == 2 then 13
   else if paramSet == 3 then 21
                         else 34;

def b = if paramSet == 1 then 5
   else if paramSet == 2 then 8
   else if paramSet == 3 then 13
                         else 21;

def c = if paramSet == 1 then 3
   else if paramSet == 2 then 5
   else if paramSet == 3 then 8
                         else 13;

def d = if paramSet == 1 then 3
   else if paramSet == 2 then 5
   else if paramSet == 3 then 8
                         else 13;

# debug
# AddLabel(visible = Yes, text = "a=" + a + " b=" + b + " c=" + c + " d=" + d, color = Color.WHITE);

# logic
def storsi = 100 * ((rsi(a) - lowest(rsi(a), b))) / (highest(rsi(a), b) - lowest(rsi(a), b));

# main plots
plot dtosck = MovingAverage(MAType, storsi, c);
dtosck.SetDefaultColor(color.red);
dtosck.setLineWeight(1);

plot dtoscd = MovingAverage(MAType, dtosck, d);
dtoscd.SetDefaultColor(color.cyan);
dtoscd.setLineWeight(1);

# indicator lines cross - reversal
def bullish = dtosck crosses above dtoscd;
def bearish = dtosck crosses below dtoscd;

plot bullishArrow = if bullish then dtoscd else double.NaN;
bullishArrow.SetDefaultColor(color.white);
bullishArrow.SetLineWeight(5);
bullishArrow.SetPaintingStrategy(PaintingStrategy.ARROW_UP);

plot bearishArrow = if bearish then dtoscd else double.NaN;
bearishArrow.SetDefaultColor(color.white);
bearishArrow.SetLineWeight(5);
bearishArrow.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);

# static plots
plot overbought = 75;
overbought.SetDefaultColor(color.light_gray);
overbought.setLineWeight(1);
overbought.hideBubble();
overbought.hideTitle();

plot oversold = 25;
oversold.SetDefaultColor(color.light_gray);
oversold.setLineWeight(1);
oversold.hideBubble();
oversold.hideTitle();

# alerts
alert(bullish, "Bullish cross", alert.bar, sound.ring);
alert(bearish, "Bearish cross", alert.bar, sound.ring);

 

[Dazeinhjk]

Hello! Can you explain the indicator? Please, it sound good!

 

[metaller]

Hello! Can you explain the indicator? Please, it sound good!

This is stochastic oscillator where input is RSI. This indicator was mentioned in "High probability trading strategies" book by Robert C. Miner. You can buy this book or download from Academia.edu for free.

 

[Dazeinhjk]

This is stochastic oscillator where input is RSI. This indicator was mentioned in "High probability trading strategies" book by Robert C. Miner. You can buy this book or download from Academia.edu for free.

Great! Im reading the book. "A trade execution may be made following a smaller time
frame momentum reversal in the direction of the larger time frame momentum
trend."

Very good indicator you got it. I appreciated too much.

 

[metaller]

Great! Im reading the book. "A trade execution may be made following a smaller time
frame momentum reversal in the direction of the larger time frame momentum
trend."

Very good indicator you got it. I appreciated too much.

You are welcome.

 

[Dazeinhjk]

You are welcome.

Did you ever think about and indicator of a overlapping of momentum with this indicator? (Arrows with a trend) It would be work too good with swingarms.

 

[metaller]

Did you ever think about and indicator of a overlapping of momentum with this indicator? (Arrows with a trend) It would be work too good with swingarms.

Could you explain your idea in more details ?

 

[Dazeinhjk]

Could you explain your idea in more details ?

The goal of this study, is to follow a smaller time frame momentum in the direction of the large timeframe momentum. If so, I imagine an indicator showing this situation between two timeframes. For example, a bullish arrow and bearish arrow appear in the study. The indicator that I was thinking is one where if in certain timeframes, the same arrow appears; it would be a buy signal. If and only if, it is above or below the white lines (oversold and overbought).

 

[metaller]

The goal of this study, is to follow a smaller time frame momentum in the direction of the large timeframe momentum. If so, I imagine an indicator showing this situation between two timeframes. For example, a bullish arrow and bearish arrow appear in the study. The indicator that I was thinking is one where if in certain timeframes, the same arrow appears; it would be a buy signal. If and only if, it is above or below the white lines (oversold and overbought).

I see.
You have core functionality in script above. Feel free to update it according to your plan.

 

[Dazeinhjk]

I see.
You have core functionality in script above. Feel free to update it according to your plan.

of course!

 

[DaysOff]

Hi,

I revised the code above for the DTOSC to allow input of the four parameters rather than only having a few set choices.

Enjoy!

declare lower;

input paramSet = 2;
input MAType = AverageType.EXPONENTIAL;
input RSIperiod = 8;
input StochPeriod = 5;
input StochSlowing = 3;
input StochSignal = 3;



# debug
# AddLabel(visible = Yes, text = "a=" + a + " b=" + b + " c=" + c + " d=" + d, color = Color.WHITE);

# logic
def storsi = 100 * ((rsi(RSIPeriod) - lowest(rsi(RSIPeriod), StochPeriod))) / (highest(rsi(RSIPeriod), StochPeriod) - lowest(rsi(RSIPeriod), StochPeriod));

# main plots
plot dtosck = MovingAverage(MAType, storsi, StochSlowing);
dtosck.SetDefaultColor(color.red);
dtosck.setLineWeight(1);

plot dtoscd = MovingAverage(MAType, dtosck, StochSignal);
dtoscd.SetDefaultColor(color.cyan);
dtoscd.setLineWeight(1);

# indicator lines cross - reversal
def bullish = dtosck crosses above dtoscd;
def bearish = dtosck crosses below dtoscd;

plot bullishArrow = if bullish then dtoscd else double.NaN;
bullishArrow.SetDefaultColor(color.white);
bullishArrow.SetLineWeight(5);
bullishArrow.SetPaintingStrategy(PaintingStrategy.ARROW_UP);

plot bearishArrow = if bearish then dtoscd else double.NaN;
bearishArrow.SetDefaultColor(color.white);
bearishArrow.SetLineWeight(5);
bearishArrow.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);

# static plots
plot overbought = 75;
overbought.SetDefaultColor(color.light_gray);
overbought.setLineWeight(1);
overbought.hideBubble();
overbought.hideTitle();

plot oversold = 25;
oversold.SetDefaultColor(color.light_gray);
oversold.setLineWeight(1);
oversold.hideBubble();
oversold.hideTitle();

# alerts
alert(bullish, "Bullish cross", alert.bar, sound.ring);
alert(bearish, "Bearish cross", alert.bar, sound.ring);