Mobius Chart Reader For ThinkOrSwim

[rip78]

Mobius Chart Reader For ThinkOrSwim
https://usethinkscript.com/threads/trending-chart-setup-for-thinkorswim.10833/

# 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

 

[Zlotko]

Could you show it on a chart and how to trade it?

 

[MerryDay]

Could you show it on a chart and how to trade it?

1. To understand this indicator, click on the link provided.
2. And then click on the links provided inside those links.
3. And then read all the referenced threads.
4. And then add it to your charts.

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