Minervini PowerPlay For ThinkOrSwim

[bulusufinances]

I have coded PowerPlay conditions by Minervini that have been giving some pretty good results for me recently (FNGU, ACMR) and have been my big winners. Now I got SOUN recently. I am not recommending these stocks, but putting the code with a scanner built-in and a white UP arrow indicates a condition is met.

I have been using it on Daily Timeframe, but I see it give some interesting results on Weekly as well.

Use as you see fit. Any experts, feedback is welcome too.

# Minervini Power Play Conditions
# bulusufinances
# Concept from https://tradingengineered.substack.com/p/the-powerplay-setup
# Second Reference - https://brkoutgeek.substack.com/p/mark-minervinis-power-play-setup

# Conditions for Minervini Power Play
#
#The stock's last closing price should be greater than $5.
#The percentage change of the closing price from 20 days ago should be greater than -25%.
#The percentage change of the closing price from 15 days ago should be between -15% and 5%.
#The percentage change of the closing price from 126 days ago should be greater than 85%.
#The stock's closing price should be greater than its 50-day simple moving average.
#The stock's closing price should be greater than its 200-day simple moving average.
# If all these are met, make PowerPlay as true
#
# Define the conditions
def condition1 = close > 5;
def condition2 = (close - close[20]) / close[20] > -0.25;
def condition3 = (close - close[15]) / close[15] > -0.15 and (close - close[15]) / close[15] < 0.05;
def condition4 = (close - close[126]) / close[126] > 0.85;
def condition5 = close > SimpleMovingAvg(close, 50);
def condition6 = close > SimpleMovingAvg(close, 200);

# Combine all conditions
def PowerPlay = condition1 and condition2 and condition3 and condition4 and condition5 and condition6;

# Scan
plot scan = PowerPlay;
scan.hide();

# Plot Arrow

plot PowerPlayFormation = if PowerPlay then 1 else 0;
PowerPlayFormation.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
PowerPlayFormation.SetLineWeight(5);
PowerPlayFormation.SetDefaultColor(Color.WHITE);