Mobius Chart Reader For ThinkOrSwim


Mobius Chart Reader For ThinkOrSwim
# Chart Reader
# Mobius
# V01.06.2021
#Hint: Chart Reader gives an overall view of where price is in the current cycle.
# Combine this study with Trend Pivots, Pivot Array or Wolfe Pivots. Best signals are those there this indicator and a Pivot indicator both agree.
# Label added by ZupDog
# PaintBars option added by ZupDog

input paintBars = no;
input Label = yes;
input n1 = 21;
input n2 = 13;
input n3 = 200;

def h = high;
def l = low;
def c = close;
def x = barNumber();
def nan = double.nan;
def x0 = if isNaN(c[-1]) and !isNaN(c) then x else x0[1];
def sR = Max(h, c[1]) - Min(l, c[1]);
def lR = highest(h, 21) - lowest(l, 21);

def energy = Round(Log(sum( sR, 21) / lR) / log(21), 1);
def K =  inertia(c - ((Highest(h, n1) + Lowest(l, n1)) /
          2 + ExpAverage(c, n1)) /2, n1);
def D =  ExpAverage(K, n2);
def sT = InertiaAll(c);
def diff = (K - D);
def compress = if Average(c, 20) + (2 * stDev(c, 20)) <
                   Average(c, 20) + (1.5 * Average(TrueRange(h, c, l), 20))
                then 0
                else nan;
def zero =  0;
def he = if energy >= .6 then highestAll(K) else nan;
def le = if energy <= .35 then lowestAll(K) else nan;

def countup = if Diff crosses above Zero then 1 else countup[1] + 1;
def countdn = if Diff crosses below Zero then -1 else countdn[1] - 1;

AddLabel(label, Concat("Chart_Reader ", if Diff > 0 then  countup else countdn), if Diff > 0 then Color.CYAN else if Diff < 0 then Color.YELLOW else Color.WHITE );

# Changes color of bars
DefineGlobalColor("Positive", Color.BLUE);
DefineGlobalColor("Negative", Color.DARK_RED);
AssignPriceColor(if !paintBars
    then Color.CURRENT
    else if Diff >= 0
        then GlobalColor("Positive")
        else GlobalColor("Negative"));

# End Code
Last edited by a moderator:

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