Market Phases Indicator for ThinkorSwim

[Trading51]

@Trading51 are you talking about the watchlist column? If so, you can have multiple timeframe per watchlist column.

Yes thank you

 

[Trading51]

Ben question the only place the Quote bard can be in TOS is the left of the main chart ? Is there a way to have a Quote Baird attached to another chart like on another monitor ?

 

[Trading51]

BTW you cannot have this code on a 5 min and have multiple quote boards on different times frames running if you change one it changes the other, I think the code has to be under another name, how can this codes name be changed or duplicated any hints ?

 

[Trading51]

Added an option to add pullback entries when FullStochastic is oversold or overbought. Let me know your thoughts.

#Trend Advisor Market Phases;

#Credit to the Chuck Dukas for creating the system and for then author of the VolumeTrendLabels whose study was use to create this indicator. Ensure you set the correct aggregation period to then chart, this helps calculate the correct volume and price action.

def agg = GetAggregationPeriod();
input vPeriod = AggregationPeriod.HOUR; #hint vPeriod: Enter the chart time you use here. Required to properly caluclate volume and price strength.

def O = open(period = vPeriod);
def H = high(period = vPeriod);
def C = close(period = vPeriod);
def L = low(period = vPeriod);
def V = volume(period = vPeriod);

def SV = V * (H - C) / (H - L);
def BV = V * (C - L) / (H - L);

# below determines if volume supports the move, adds conviction

AddLabel(yes, "Buyer Vol Strong ", if high > high[1] and low > low[1] and BV * 1.05 > SV then Color.GREEN else Color.BLACK);

AddLabel(yes, "Seller Vol Strong", if high < high[1] and low < low[1] and SV * 1.05 > BV then Color.MAGENTA else Color.BLACK);

# below determines if price supports the move

AddLabel(yes, "Price Strong ", if high > high[1] and high [1] > high[2] and low > low[1] and low[1] > low[2] then Color.GREEN else Color.BLACK);

AddLabel(yes, "Price Weak", if high < high[1] and high[1] < high[2] and low < low[1] and low[1] < low[2] then Color.MAGENTA else Color.BLACK);





declare upper;
input price = close;
input displace = 0;

input avglength = 10; #hint avgLength: Then exponential average length you want to use for your pullback entries.

def fastavg = 50;
def slowavg = 200;


plot fastsma = Average( price, fastavg);
fastsma.SetDefaultColor(Color.GREEN);

plot slowsma = Average(price, slowavg);
slowsma.SetDefaultColor(Color.RED);

# Bullish criteria define below

# Define criteria for Bullish Phase : close > 50 SMA, close > 200 SMA, 50 SMA > 200 SMA

def bullphase = fastsma > slowsma && price > fastsma && price > slowsma;

# Define criteria for Accumulation Phase : close > 50 SMA, close > 200 SMA, 50 SMA < 200 SMA

def accphase = fastsma < slowsma && price > fastsma && price > slowsma;

# Define criteria for Recovery Phase : close > 50 SMA, close < 200 SMA, 50 SMA < 200 SMA

def recphase = fastsma < slowsma && price < slowsma && price > fastsma;



# Bearish Criteria define below

# Define criteria for Bearish Phase : close < 50 SMA, close < 200 SMA, 50 SMA < 200 SMA

def bearphase = fastsma < slowsma && price < fastsma && price < slowsma;

# Define criteria for Distribution Phase : close < 50 SMA, close < 200 SMA, 50 SMA > 200 SMA

def distphase = fastsma > slowsma && price < fastsma && price < slowsma;

# Define criteria for Warning Phase : close < 50 SMA, close > 200 SMA, 50 SMA > 200 SMA

def warnphase = fastsma > slowsma && price > slowsma && price < fastsma;


# Below conditions are for a possible entry when price touches the fastema

#def pbavg = MovingAverage(Average, price, avglength);

def pbavg = ExpAverage(data = price[-displace], length = avglength);

input bullpullback = yes;  #hint bullpullback: Do you want to display the pullback arrows for bullish fast ema entries.
input bearpullback = yes; #hint bearpullback: Do you want to display the pullback arrows for bearish fast ema entries.



def bullishpb = low < pbavg && open > pbavg;
def bearishpb = high > pbavg && open < pbavg;

def bullpb = bullphase is true && bullishpb is true;
def bearpb = bearphase is true && bearishpb is true;

def BuySfast = reference StochasticFast(). UpSignal is true && bullphase is true;

def SellSfast = reference StochasticFast(). DownSignal is true && bearphase is true;

# Plot Signals
plot bullpb1 = if bullpullback then bullpb else 0;
bullpb1.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bullpb1.SetDefaultColor(Color.CYAN);
bullpb1.SetLineWeight(1);

plot bearpb1 = if bearpullback then bearpb else 0;
bearpb1.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
bearpb1.SetDefaultColor(Color.RED);
bearpb1.SetLineWeight(1);


#plot buphase = bullphase is true;
#plot acphase = accphase is true;
#plot rephase = recphase is true;

#plot bephase = bearphase is true;
#plot dphase = distphase is true;
#plot wphase = warnphase is true;


# Below adds labels to the chart to identify what phase the underlying is in


AddLabel(bullphase, " Bull Phase" , if bullphase is true then Color.GREEN else Color.BLACK);

AddLabel(accphase, " Accumation Phase ", if accphase is true then Color.LIGHT_GREEN else Color.BLACK);

AddLabel(recphase, " Recovery Phase ", if recphase is true then Color.LIGHT_ORANGE else Color.BLACK);

AddLabel(warnphase, " Warning Phase ", if warnphase is true then Color.ORANGE else Color.BLACK);

AddLabel(distphase, " Distribution Phase ", if distphase is true then Color.LIGHT_RED else Color.BLACK);

AddLabel(bearphase, " Bear Phase ", if bearphase is true then Color.RED else Color.BLACK);




input colorbars = yes;
AssignPriceColor(if colorbars and bullphase then Color.GREEN else if bearphase then Color.RED else Color.ORANGE);


input over_bought = 80;
input over_sold = 20;
input KPeriod = 10;
input DPeriod = 10;
input slowing_period =3;


def priceH = high;
def priceL = low;
def priceC = close;

def averageType = AverageType.SIMPLE;

def lowest_k = Lowest(priceL, KPeriod);
def c1 = priceC - lowest_k;
def c2 = Highest(priceH, KPeriod) - lowest_k;
def FastK = if c2 != 0 then c1 / c2 * 100 else 0;

def FullK = MovingAverage(averageType, FastK, slowing_period);
def FullD = MovingAverage(averageType, FullK, DPeriod);


input StochasticPB = {default "No", "On FullK", "On FullD", "On CrossOver"}; #hint StochasticPB: Displays the pullback arrows for stochastic buy or sell signals. For FullK or FullD, will plot arrows when they cross overbought or oversold.  For CrossOver, more strict reqs, will plot arrows when FastK crosses FastD while overbought or oversold.


def OverBought = over_bought;
def OverSold = over_sold;

def upK = FullK crosses above OverSold && bullphase is true;
def upD = FullD crosses above OverSold && bullphase is true;

def downK = FullK crosses below OverBought && bearphase is true;
def downD = FullD crosses below OverBought && bearphase is true;

plot UpSignal;
plot DownSignal;
switch (StochasticPB) {
case "No":
    UpSignal = Double.NaN;
    DownSignal = Double.NaN;
case "On FullK":
    UpSignal = if upK then OverSold else Double.NaN;
    DownSignal = if downK then OverBought else Double.NaN;


case "On FullD":
    UpSignal = if upD then OverSold else Double.NaN;
    DownSignal = if downD then OverBought else Double.NaN;


case "On CrossOver":
    UpSignal = FullK crosses above FullD && bullphase && (FullK < OverSold or FullD < Oversold);

    DownSignal = FullK crosses below FullD && bearphase && (FullK > Overbought or FullD > Overbought);
}

UpSignal.SetHiding(StochasticPB == StochasticPB."No");
DownSignal.SetHiding(StochasticPB == StochasticPB."No");


UpSignal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
UpSignal.SetDefaultColor(Color.LIGHT_GREEN);
UpSignal.SetLineWeight(1);

DownSignal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
DownSignal.SetDefaultColor(Color.LIGHT_RED);
DownSignal.SetLineWeight(1);

Any ideas on the stochastic settings which would with the best ?

 

[jox51]

@Trading51

I would just start with the default ones and adjust from there. I mainly trade stocks but if your futures or forex, you may want different settings.

 

[Trading51]

Using the $PYPL symbol if you have the quote board code on 30 minutes it says PYPL is in a bullish phase if you use the code that updated in post #2 and put PYPL on a 30 minute time frame it says it's in an accumulation phase, one of these codes must have an error ?

 

[Trading51]

Which code was used to make that quote board maybe That’s the reason why it’s not accurate

 

[jox51]

You mean when you have it in a chart vs quote board?

 

[Trading51]

You mean when you have it in a chart vs quote board?

Yes

 

[jox51]

Is the aggregation period in the indicator the same as the chart?

 

[Trading51]

Is the aggregation period in the indicator the same as the chart?

Yes, I check it played with it check different stocks something is off

 

[jox51]

And the aggregation period on the indicator in the quote board is the same? Can you send a pic of the quote board?

 

[Trading51]

And the aggregation period on the indicator in the quote board is the same? Can you send a pic of the quote board?

Sure, what’s the best means to do that ? Any which way to post screen shot

 

[scxpertise]

For some reason when I copy & paste the code into TOS I don't see anything? Please help.

I see it now, I had to adjust the timeframe. Thanks.

 

[Billions]

Im just not sure about chart indicator time frame and watchlist time frame testing any input would be appreciated.

 

[Trading51]

Pull up $ES on 5 min with the original code it says distribution while the 5 min quote board says bull phase, something is off

 

[Billions]

Is your quote board set to 1 hour?

 

[Trading51]

Is your quote board set to 1 hour?

i have the following quote board time frames (5,15,30,60) up watching and comparing them to the chart with the original indicators

 

[Trading51]

https://imgur.com/a/XqsmSMy

 

[Billions]

This is what I can't figure out the proper settings