Miesal Trend Following Indicator for ThinkorSwim

BenTen

BenTen

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Very simple script.



Code:
# Miesal Indicator
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/Tdp90Pee/

declare lower;

input length = 10;
input src = close;

def Mi = sum(if(src > src[1], +1, if(src < src[1], -1, 0)), length);

plot line = Mi;
line.AssignValueColor(if line >= 0 then color.green else color.red);
 
J007RMC

J007RMC

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I like the indicator for its simplicity I ran it today but it seems a little late vs my full stochastic and macd
 
BenTen

BenTen

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@J007RMC Interesting. Thanks for letting us know.
 
D

diazlaz

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Nice - good fit at lower time frames:

MSFT - 1 Minute



SPY - 1 Minute



Don't underestimate it - it looks simple, but could be useful. Play around with it and mix it up with other indicators. Report back any good pairings ;)
 
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diazlaz

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for short time frame try a 9 of length instead of 10, it makes a difference in the P&L.
 
Last edited:
D

diazlaz

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I like the indicator for its simplicity I ran it today but it seems a little late vs my full stochastic and macd
a length of 9 in shorter time frame seems to work (really) well. what stochastic, macd are you using and what time frame do you trade?
 
allpozitiv

allpozitiv

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diazlaz can you share indicator you use on chart (upper)?
 
J007RMC

J007RMC

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a length of 9 in shorter time frame seems to work (really) well. what stochastic, macd are you using and what time frame do you trade?
The standard TOS full and MACD. I stand corrected its very accurate I have it on the 8 now on a 3 and 5min charts now. Ill watch it Mon on the 5min as a stand alone indicator. Off the low or high its great and right on. I'm excited to take her for a spin lol. Thanks guys it catches the highs and low well on the 15min too, I was using a 8/49 ema on the 5 min but recently switched over to 10/20/30 ema,s. my chart is the cci/atr with the atr. and with the Misael looks like a perfect match along with for my laptop.

Several days later, I'm sold on this one and keep it as standard to my charts now:)
 
Last edited:
3AMBH

3AMBH

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Thanks for the input and Charts, @diazlaz.

Please tell me how you get the signal arrows and matching candle colors.

Thanks
 
BenTen

BenTen

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@diazlaz @J007RMC I tried 8 and 9 as the length and definitely can say that it's much better than the default setting. Thank you all for looking into it and experimenting.
 

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