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Market Maker Move Earnings Forecast Indicator for ThinkorSwim

BenTen

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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
 

Attachments

  • HLJL6PP.jpg
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Tinkered around and wrote a script to meet my needs.

Code:
#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);
 
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".

View attachment 5117

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
@BenTen @Mike

Is there a way to have this indicator work in on-demand where I can go back in time and see the results in the past for different stocks
 
@BenTen @Mike

Is there a way to have this indicator work in on-demand where I can go back in time and see the results in the past for different stocks

OnDemand is generally just for getting to understand the app.
Due to lag, limited data, and limited functions; it does a poor representation of reality.
 
Last edited:
Hello @MerryDay
Is it still possible to get it to work in on demand regardless of the lag or inconsistencies. As long as the values are consistent regardless of the particular day I am looking at, it doesn't matter to me

OnDemand is generally just for getting to understand the app.
Due to lag, limited data, and limited functions; it does a poor representation of reality.
Hello @MerryDay Is it still possible to get it to work in on demand regardless of the lag or inconsistencies. As long as the values are consistent regardless of the particular day I am looking at, it doesn't matter to me

Hello @MerryDay @BenTen @Mike
Is it still possible to get it to work in on demand regardless of the lag or inconsistencies. As long as the values are consistent regardless of the particular day I am looking at, it doesn't matter to me
 
Last edited by a moderator:
Hello @MerryDay
Is it still possible to get it to work in on demand regardless of the lag or inconsistencies. As long as the values are consistent regardless of the particular day I am looking at, it doesn't matter to me


Hello @MerryDay Is it still possible to get it to work in on demand regardless of the lag or inconsistencies. As long as the values are consistent regardless of the particular day I am looking at, it doesn't matter to me

Hello @MerryDay @BenTen @Mike
Is it still possible to get it to work in on demand regardless of the lag or inconsistencies. As long as the values are consistent regardless of the particular day I am looking at, it doesn't matter to me

If you are saying that the indicator works correctly in the live app and is not working in on-demand;
my assumption would be that this indicator does not work in on-demand.

If you are saying that the indicator is not working correctly on your live chart nor on your on-demand;
my assumption would be user-error.

If it is not working for you on the live app; please provide a shared chart link, so members can see the issues that you are seeing.

How to create a shared chart link:
https://usethinkscript.com/threads/how-to-share-a-chart-in-thinkorswim.14221/
 
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".

View attachment 5117

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

If I put this study on the futures, it does not return results, can I fix it somehow? Thank you!
 
If I put this study on the futures, it does not return results, can I fix it somehow? Thank you!
This indicator looks for market moves based on earnings.

This indicator is not compatible with any instruments that do not report earnings.
Therefore, no; this script cannot be used with futures.
 

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