Market Mover Indicator for ThinkorSwim with Trading Strategy

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Schminga

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Is there an ETA on when the Advanced Market Mover Indicator will be released? Will it be released on this thread? Thanks in Advanced!
 
BenTen

BenTen

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@Schminga No ETA at the moment but I’m aiming for early 2020 :)
 
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Trading51

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That would be great, any chance of a new forecast ?
 
Rojo Grande

Rojo Grande

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Just as a heads up to people that may be using this version of Market Mover. ToS will not correctly display the RSI and SMA in the same study or same chart window if you have added separate RSI and SMA studies as described. If you place them together it will plot but if you go back to beginning of your chart time interval and scroll forward you will see the SMA shift in position relative to RSI. Looks like this can be solved by zooming in to a short part of your chart. The question is how much to zoom. Also now to see the whole chart as it relates to your zoomed area is not possible.
Since ToS presents this scaling problem I am proposing several alternatives to the Market Mover that avoid the scaling difficulty.
The difference in one alternative is the cross is now calculated from only RSI data. It becomes a cross of RSI and RSI average.

Commercial Photography


The 5 day 5 minute chart Signal is RSI (white) crosses SMA(cyan). The top study is Market Mover. You can see does not work well when not zoomed.
The second study is simply the Bollinger Band midline(cyan) and a SMA of 1(white)
The third and fourth are RSI and SMA of RSI.
The fourth is MACD and SMA of MACD.

Results of all but Market Mover are very similar.
Hello Horserider,
In the above chart the 5th study labeled MACD_Bands, where can this be found? Thank you.
 
horserider

horserider

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@Rojo Grande That was made up just as an example in that comparison chart so was erased. Take a look at the Ultimate MACD to see if that will work for you.

I had some spare time so decided to make more what you wanted. MACD with MACD average line and also included a BB midline which will act as a moving average plot of price. You can uncheck whichever line you do not want in study settings. Also can play wih lengths and average types if you choose.

Code:
# MACD colored and MACD Average and Bollinger Bands Midline
# MACD average used as cross of MACD
# Bollinger Bands Midline acting as a MovingAverage average of price cross signal for MACD
# Use both of choose one  by unchecking a plot in study settings.
# Horserider by request from Rojo Grande 1/5/2020

declare lower;
input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
input AverageTypeMACD = {SMA, default EMA, HMA, Wilders};

input price = close;
input displace = 0;

def MACD_Data = MACD(fastLength = fastLength, slowLength = slowLength, MACDLength = MACDLength);
plot MACD_Line = MACD_Data;

MACD_Line.DefineColor("Up", Color.GREEN);
MACD_Line.DefineColor("Down", Color.RED);
MACD_Line.DefineColor("Even", Color.WHITE);
MACD_Line.AssignValueColor(if MACD_Line > MACD_Line[1] then MACD_Line.Color("Up") else (if MACD_Line == MACD_Line[1] then MACD_Line.Color("Even") else MACD_Line.Color("Down")));
MACD_Line.SetLineWeight(3);

def Value;
plot Avg;
switch (AverageTypeMACD) {
case SMA:
    Value = Average(price, fastLength) - Average(price, slowLength);
    Avg = Average(Value, MACDLength);
case EMA:
    Value = ExpAverage(price, fastLength) - ExpAverage(price, slowLength);
    Avg = ExpAverage(Value, MACDLength);
case HMA:

    Value = WMA(2 * WMA(price, fastlength / 2) - WMA( price, slowlength), sqrt(slowlength));
    Avg = ExpAverage(Value, MACDLength);
case Wilders:
    Value = WildersAverage(price, fastLength) - WildersAverage(price, slowLength);
    Avg = ExpAverage(Value, MACDLength);
}
Avg.SetDefaultColor(Color.CYAN);


#plot BB;

input AverageTypeBB = {default SMA, EMA, HMA};
input displaceBB = 0;
input lengthBB = 5;


def midline;
switch (AverageTypeBB) {
case SMA:
    midline   = reference BollingerBands(MACD_Line, displaceBB, lengthBB ).Midline;
case EMA:
    midline   = reference BollingerBands(MACD_Line, displaceBB, lengthBB,  averageType = AverageType.EXPONENTIAL).Midline;
case HMA:
    midline   = reference BollingerBands(MACD_Line, displaceBB, lengthBB,  averageType = AverageType.HULL).Midline;
}

plot midline1 = midline;
midline1.SetDefaultColor(Color.WHITE);
midline1.SetLineWeight(1);
 
J007RMC

J007RMC

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2019 Donor
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THANKS I have it loaded for tomorrow. I'm liking this indicator it fits with my laptop charts nicely that has been a struggle for me. At the point Im running the rsi laguerre mtf and have added this. Its very hard Ive found to keep clean charts on a laptop.
 
Rojo Grande

Rojo Grande

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Did not mean for you to go to all that trouble Horserider. But I must say it looks VERY interesting, and I am also looking forward to using it tomorrow. Again a big thank you to you and all others who do this.
 
horserider

horserider

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Welcome. Not so much trouble as it is the Ultimate MACD with the outer bands of the MACD average removed. My belief is the Ultimate MACD would be better to use as it also can show volatility. And riding the bands or breaking from the bands can provide additional information. Choose as you wish. Good luck. Be careful out there. The wolves want our money.
 
BenTen

BenTen

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@iemg88 You will be able to as soon as we release version 2.0.
 
K

kaflesu

New member
Hi @BenTen,
Will you be able to share link to this script?
 
D

dynoboy

New member
VIP
I hope that beta testing is going well, looking forward to it's release!
 
YungTraderFromMontana

YungTraderFromMontana

Well-known member
Is this indicator not very similar to the TMO, I'm comparing now and the concept seems almost identical.
 
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