Market Maker Move Earnings Forecast Indicator for ThinkorSwim

BenTen

Administrative
Staff member
Staff
VIP
Lifetime
This was shared by Ken Rose on Twitter. The indicator is called Market Maker Move and it helps to predict "potential movement of a stock related to an upcoming #Earnings earnings announcement".

HLJL6PP.jpg


thinkScript Code

Code:
#Follow ken on Twitter  @KRose_TDA
#Market Maker Move script is used on Ken Rose - Options Strategies Webcast presented Thursday nights @ 3PM ET- Scripting Studies on Thinkorswim Tuesday nights at 5:30PM ET 
#     https://events.thinkorswim.com/#/webcast
#declare lower;
#sets color for Label
input Label_Color_Choice = {"magenta", "green", "pink", "cyan", default "orange", "red", "blue", "gray", "violet"};
#sets color for Label
#determines if we show label
input show_label = yes;
#determines if we show label
#Defines earings time
def isBefore = HasEarnings(EarningTime.BEFORE_MARKET);
def isAfter = HasEarnings(EarningTime.AFTER_MARKET);
def isDuringOrUnspecified = HasEarnings() and !isBefore and !isAfter;
#Defines earings time

def StockPrice = close;
def Market_Maker_Move = GetMarketMakerMove();
def MMMpercent = Market_Maker_Move / StockPrice;
AddLabel(Market_Maker_Move >= 0 and show_label, "Market Maker Move =  " + AsDollars(Market_Maker_Move) + "  ...  " + AsPercent(MMMpercent), GetColor(label_color_choice));
#determines if we expand MMM line to edge of chart
input LineOnExpansion = yes;
#determines if we expand MMM line to edge of chart
def PrevClose = close(period = AggregationPeriod.DAY)[1];

############Below only finds the last bar on chart
def bar = if IsNaN(close)
             then if LineOnExpansion
                     then bar[1]
                     else Double.NaN
             else BarNumber();

def Highest_Bar = HighestAll(bar);
############above only finds the last bar on chart
#ssigns close + MMM if at last bar on chart
def barCount   = if bar == Highest_Bar
                 then (close + Market_Maker_Move)
                 else double.NaN;
####Delete Pound Signs After Test
plot upper = if Highest_Bar == bar
         then HighestAll(barCount)
           else Double.NaN;

upper.sethiding(upper == double.NaN);
upper.SetDefaultColor(getcolor(Label_Color_Choice));
upper.SetPaintingStrategy(paintingStrategy.DASHES);
upper.SetLineWeight(3);
upper.sethiding(isnan(getMarketMakerMove()));

def barCount2   = if bar == Highest_Bar
                 then (close - Market_Maker_Move)
                 else Double.NaN;
####Delete Pound Signs After Test
plot lower = if Highest_Bar <= bar
           then HighestAll(barCount2)
           else Double.NaN;
lower.sethiding(lower == double.NaN);
lower.SetDefaultColor(getcolor(Label_Color_Choice));
lower.SetPaintingStrategy(PaintingStrategy.dashes);
lower.SetLineWeight(3);
lower.sethiding(isnan(getMarketMakerMove()));

Shareable Link

https://tos.mx/GH9Brx
 

Mike

New member
Tinkered around and wrote a script to meet my needs.

#M.shotter
#MMM Label +/- Price.

Input show_MMM_Label=yes;
AddLabel(show_MMM_Label,”MMM:” , CreateColor(237,105,49));

input show_Label = yes;

def Market_Maker_Move = GetMarketMakerMove();
def Market_Maker_Move_Plus = Market_Maker_Move + close;
def Market_Maker_Move_Minus = close - Market_Maker_Move;

AddLabel(Market_Maker_Move_Plus, “ ” + Round(Market_Maker_Move_Plus,2), Color.Dark_Green);
AddLabel (Market_Maker_Move_Minus, “ ” + Round (Market_Maker_Move_Minus,2), Color.Dark_Red);
 

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