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Miesal Trend Following Indicator for ThinkorSwim

BenTen

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Very simple script.

IfztR18.png


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

Well-known member
2019 Donor
I like the indicator for its simplicity I ran it today but it seems a little late vs my full stochastic and macd
 

diazlaz

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2019 Donor
VIP
Nice - good fit at lower time frames:

MSFT - 1 Minute

R7Rfu2K.png


SPY - 1 Minute

0M88U5L.png


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 ;)
 

diazlaz

Well-known member
2019 Donor
VIP
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?
 

J007RMC

Well-known member
2019 Donor
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

Member
2019 Donor
Thanks for the input and Charts, @diazlaz.

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

Thanks
 

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.
 

GiantBull

New member
@diazlaz I know this is a very old thread but I would really like your help in getting the upper study you have in your post. It is visually easy to see when the indicator goes above or below zero when the candles repaint red or green. I would really appreciate if you could do that for me, thanks!
 

MerryDay

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@diazlaz I know this is a very old thread but I would really like your help in getting the upper study you have in your post. It is visually easy to see when the indicator goes above or below zero when the candles repaint red or green. I would really appreciate if you could do that for me, thanks!
Add the following statement to the study in the top post:
Code:
AssignBackgroundColor(if line >= 0 then color.green else color.red);
 

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