Mobius Thrust Bars For ThinkOrSwim

MerryDay

Administrative
Staff member
Staff
VIP
Lifetime
Mobius Thrust Bars Plots Volume and True Range in the same scale.
Per Mobius:
When price is expanding and is accompanied by higher volume, a trend is typically ending or beginning.
Adjust the Thrust Limit to fit your strategy best. The Default Thrust Limit excludes 99% of bars. It is plotting only the most recent of the top 1%.
a1.png

Ruby:
# Thrust Bars
# Mobius
# Plots Volume and True Range in the same scale. When price expands accompanied by higher volume a trend is typically ending or beginning. Defult ThrustLimit excludes 99% of bars. Plotting only the most recent of the top 1%.

input n = 20;
input ThrustLimit = .99; #hint ThrustLimit: Percentile of bar to exclude.

def h = high;
def l = low;
def c = close;
def v = volume;
def x = barNumber();
def TR = TrueRange(h, c, l);
def TRh = highest(TR, n);
def TRl = lowest(TR, n);
def TRm = (TR - TRl) / (TRh - TRl);
def Vh = highest(v, n);
def Vl = lowest(v, n);
def Vm = (v - Vl) / (Vh - Vl);
def T_Bar = if TRm >= ThrustLimit and
               Vm >= ThrustLimit
            then x
            else double.nan;
def T_h = if !isNaN(T_Bar)
          then h
          else T_h[1];
def T_l = if !isNaN(T_Bar)
          then l
          else t_l[1];
plot ThrustBar_h = if x >= HighestAll(T_Bar)
                   then HighestAll(if isNaN(c[-1])
                                   then T_h
                                   else double.nan)
                   else double.nan;
    ThrustBar_h.SetDefaultColor(Color.dark_gray);
plot ThrustBar_l = if x >= HighestAll(T_Bar)
                   then HighestAll(if isNaN(c[-1])
                                   then T_l
                                   else double.nan)
                   else double.nan;
     ThrustBar_l.SetDefaultColor(Color.dark_gray);
AddCloud(ThrustBar_l, ThrustBar_h, color.dark_gray, color.dark_gray);
# End Code
 

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
263 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top