Grateful if anyone has the tape momentum indicator. Find it might gives a good signal for both entry and exit when the spike goes up extremely
# TS_TapeMomentum
# http://www.thinkscripter.com
# [email protected]
# Last Update 07 Nov 2010
#hint: For use on tick charts <b>ONLY</b>. Red inidcates average momentum, yellow > average, green > two standard deviations.
#hint period: Averaging period.
#hint capMultiplier: Multiple of standard deviation at which large spikes will be truncated with a magenta dot.
#hint capLargeSpikes: Truncate larger spikes at a given standard deviation multiplier to avoid scale compression.
declare lower;
input period = 14;
input capMultiplier = 5.0;
input capLargeSpikes = YES;
def isTickChart = if getAggregationPeriod() <= 3200 then 1 else 0;
def timer = secondsTillTime(1615);
def deltaT = absValue(timer[-1]-timer);
def momentum = if isTickChart then volume/deltaT else 0;;
def aveSM = average(momentum,period);
def sdAve = aveSM+2*stdev(momentum, period);
def spikeCap = totalSum(momentum)/barNumber()*capMultiplier;
plot tickMomentum = if capLargeSpikes then min(momentum, spikeCap) else momentum;
plot cap = if capLargeSpikes and tickMomentum==spikeCap then spikeCap else double.nan;
cap.setStyle(curve.POINTS);
cap.setLineWeight(2);
cap.setDefaultColor(color.magenta);
tickMomentum.setPaintingStrategy(paintingStrategy.HISTOGRAM);
tickMomentum.setLineWeight(2);
tickMomentum.assignValueColor(if tickMomentum >=min(spikeCap, sdAve) then color.green else if tickMomentum > aveSM then color.yellow else color.red);
plot zero = 0;
zero.setDefaultColor(color.white);
addChartLabel(!isTickChart,"THIS STUDY ONLY FOR USE ON TICK CHARTS",color.red);
I'm confused. I typed in "$TICK" and I don't see the study.Not sure if this is what you're looking for.
Code:# TS_TapeMomentum # http://www.thinkscripter.com # [email protected] # Last Update 07 Nov 2010 #hint: For use on tick charts <b>ONLY</b>. Red inidcates average momentum, yellow > average, green > two standard deviations. #hint period: Averaging period. #hint capMultiplier: Multiple of standard deviation at which large spikes will be truncated with a magenta dot. #hint capLargeSpikes: Truncate larger spikes at a given standard deviation multiplier to avoid scale compression. declare lower; input period = 14; input capMultiplier = 5.0; input capLargeSpikes = YES; def isTickChart = if getAggregationPeriod() <= 3200 then 1 else 0; def timer = secondsTillTime(1615); def deltaT = absValue(timer[-1]-timer); def momentum = if isTickChart then volume/deltaT else 0;; def aveSM = average(momentum,period); def sdAve = aveSM+2*stdev(momentum, period); def spikeCap = totalSum(momentum)/barNumber()*capMultiplier; plot tickMomentum = if capLargeSpikes then min(momentum, spikeCap) else momentum; plot cap = if capLargeSpikes and tickMomentum==spikeCap then spikeCap else double.nan; cap.setStyle(curve.POINTS); cap.setLineWeight(2); cap.setDefaultColor(color.magenta); tickMomentum.setPaintingStrategy(paintingStrategy.HISTOGRAM); tickMomentum.setLineWeight(2); tickMomentum.assignValueColor(if tickMomentum >=min(spikeCap, sdAve) then color.green else if tickMomentum > aveSM then color.yellow else color.red); plot zero = 0; zero.setDefaultColor(color.white); addChartLabel(!isTickChart,"THIS STUDY ONLY FOR USE ON TICK CHARTS",color.red);
Switch over to Tick charts or else it will not work. I found it here.
def momentum = if isTickChart then volume/deltaT else 0;;
def momentum = volume/deltaT;
declare lower;
#########################################################
plot neutral_line_pos = 1;
neutral_line_pos.SetDefaultColor(Color.GRAY);
neutral_line_pos.SetStyle(Curve.SHORT_DASH);
plot zero_line = 0;
zero_line.SetDefaultColor(Color.GRAY);
#########################################################
def tdiff = SecondsFromTime(0930);
def tsrw = (1 / (tdiff[0] - tdiff[1])) * 100;
input period = 21;
def tsavg = average(tsrw[1], period);
def tsrtavg = tsrw / tsavg;
def truncate = if tsrtavg > 3 then 3 else tsrtavg; #required to attenuate HUGE signals that make the smaller signals hard to read
plot tape_speed = truncate;
tape_speed.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
tape_speed.AssignValueColor(if tape_speed >= 2 then COLOR.WHITE else if tape_speed > 1.0 then Color.GRAY else Color.DARK_GRAY);
# TD Ameritrade IP Company, Inc. (c) 2008-2020
# Stochastic Momentum Index
declare lower;
input over_bought = 40.0;
input over_sold = -40.0;
input percentDLength = 3;
input percentKLength = 5;
def min_low = lowest(low, percentKLength);
def max_high = highest(high, percentKLength);
def rel_diff = close - (max_high + min_low)/2;
def diff = max_high - min_low;
def avgrel = expaverage(expaverage(rel_diff, percentDLength), percentDLength);
def avgdiff = expaverage(expaverage(diff, percentDLength), percentDLength);
plot SMI = if avgdiff != 0 then avgrel / (avgdiff / 2) * 100 else 0;
smi.AssignValueColor(if smi > smi[1] then Color.green else Color.red);
plot AvgSMI = expaverage(smi, percentDLength);
avgsmi.setDefaultColor(Color.Dark_Gray);
plot overbought = over_bought;
overbought.setDefaultColor(Color.Dark_Red);
overbought.setStyle(curve.SHORT_DASH);
plot oversold = over_sold;
oversold.setDefaultColor(Color.Dark_Green);
oversold.setStyle(curve.SHORT_DASH);
plot UpSignal = if smi crosses above AvgSMI then smi else Double.NaN;
plot DownSignal = if smi crosses below AvgSMI then smi else Double.NaN;
UpSignal.SetDefaultColor(Color.WHITE);
UpSignal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
UpSignal.SetLineWeight(2);
UpSignal.hideTitle();
DownSignal.SetDefaultColor(Color.Dark_Orange);
DownSignal.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
DownSignal.SetLineWeight(2);
DownSignal.hideTitle();
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