Repaints MTF Trend following indicator For ThinkOrSwim

[petergluis]

I use open, high, low and close of yesterday and today's open to generate a trend following indicator. It is more sensitive to trend changes than Hull moving averages. It should be used in daily chart in order to follow the trends. The part code is from toshelper.com.

input offset = 1;
input offset2 = 1;
input offset3=0;
input period = {default DAY, “2 DAYS”, “3 DAYS”, “4 DAYS”, WEEK, MONTH, “OPT EXP”};
plot Data = high(period = period)[offset];
Data.AssignValueColor(if Data > Data[1] then Color.green else Color.magenta);
plot Data2 = low(period = period)[offset2];
Data2.AssignValueColor(if Data2 > Data2[1] then Color.green else Color.magenta);
plot Data3 = close(period = period)[offset];
Data3.AssignValueColor(if Data3 > Data3[1] then Color.green else Color.magenta);
plot Data4 = open(period = period)[offset2];
Data4.AssignValueColor(if Data4 > Data4[1] then Color.green else Color.magenta);
plot Data5 = open(period = period)[offset3];
Data5.AssignValueColor(if Data5 > Data5[1] then Color.green else Color.magenta);

 

[henry1224]

I use open, high, low and close of yesterday and today's open to generate a trend following indicator. It is more sensitive to trend changes than Hull moving averages. It should be used in daily chart in order to follow the trends. The part code is from toshelper.com.

#by www.toshelper.com
input offset = 1;
input offset2 = 1;
input offset3=0;
input period = {default DAY, “2 DAYS”, “3 DAYS”, “4 DAYS”, WEEK, MONTH, “OPT EXP”};
input period2 = {default DAY, “2 DAYS”, “3 DAYS”, “4 DAYS”, WEEK, MONTH, “OPT EXP”};
plot Data = high(period = period)[offset];
Data.AssignValueColor(if Data > Data[1] then Color.green else Color.magenta);
plot Data2 = low(period = period)[offset2];
Data2.AssignValueColor(if Data2 > Data2[1] then Color.green else Color.magenta);
plot Data3 = close(period = period)[offset];
Data3.AssignValueColor(if Data3 > Data3[1] then Color.green else Color.magenta);
plot Data4 = open(period = period)[offset2];
Data4.AssignValueColor(if Data4 > Data4[1] then Color.green else Color.magenta);
plot Data5 = open(period = period)[offset3];
Data5.AssignValueColor(if Data5 > Data5[1] then Color.green else Color.magenta);

Peter your use of input period2 is not used in the code? Are we missing something?

 

[petergluis]

Henry1223, I deleted period2 since we do not need it. Thank you very much for your reminder.
1st post updated.

 

[henry1224]

I use open, high, low and close of yesterday and today's open to generate a trend following indicator. It is more sensitive to trend changes than Hull moving averages. It should be used in daily chart in order to follow the trends. The part code is from toshelper.com.

input offset = 1;
input offset2 = 1;
input offset3=0;
input period = {default DAY, “2 DAYS”, “3 DAYS”, “4 DAYS”, WEEK, MONTH, “OPT EXP”};
plot Data = high(period = period)[offset];
Data.AssignValueColor(if Data > Data[1] then Color.green else Color.magenta);
plot Data2 = low(period = period)[offset2];
Data2.AssignValueColor(if Data2 > Data2[1] then Color.green else Color.magenta);
plot Data3 = close(period = period)[offset];
Data3.AssignValueColor(if Data3 > Data3[1] then Color.green else Color.magenta);
plot Data4 = open(period = period)[offset2];
Data4.AssignValueColor(if Data4 > Data4[1] then Color.green else Color.magenta);
plot Data5 = open(period = period)[offset3];
Data5.AssignValueColor(if Data5 > Data5[1] then Color.green else Color.magenta);

You might want to add a combined Plot to your formula instead of all of the separate lines

Plot Comb = (Data + Data2 + Data3+ Data4 + Data5)/5;
Comb.AssignValueColor(if Comb > Comb[1] then Color.green else Color.magenta);

Comb.SetLineWeight(3);

 

[henry1224]

Hello Peter, I believe that this version is what you are trying to achieve my final v

input agg1 = AggregationPeriod.FIVE_MIN;
input agg2 = AggregationPeriod.Ten_MIN;
input offset = 1;
input offset2 = 0;
input APC = No;
input Arrows = no;
input Dotsize = 3;
def C = Close(Period = AGG1)[offset2];
def O = Open(Period = AGG2)[offset2];
def Oa = Open(Period = AGG2)[offset];
def Ca = Close(Period = AGG2)[offset];
def Ha = High(Period = AGG2)[offset];
def La = Low(Period = AGG2)[offset];
Plot Comb =if IsNaN(C) then Double.NaN else (O + Oa+ Ca+ Ha + La)/5;
Comb.AssignValueColor(if C > Comb[1] then Color.green else Color.magenta);
Comb.SetLineWeight(3);
AssignPriceColor(if APC == yes and C > Comb[1] then Color.green else if apc == yes and C < Comb[1] then Color.magenta else Color.Current); 
#ARROWS
plot ArrowDown = if arrows and (C Crosses below Comb[1]) then Comb[1] else double.nan;
ArrowDown.setpaintingStrategy(paintingStrategy.Arrow_Down);
ArrowDown.setDefaultColor(color.Magenta);
ArrowDown.setLineWeight(dotsize);

plot ArrowUp = if arrows and (C crosses above Comb[1]) then Comb[1] else double.nan;
ArrowUp.setpaintingStrategy(paintingStrategy.Arrow_Up);
ArrowUp.setDefaultColor(color.Green);
ArrowUp.setLineWeight(dotsize);

 

[koenigbro]

Hello, thank you for posting this code. Does this indicator repaint? Because with certain settings that I input and the time frame and the trading instrument I am looking at, it seems too good to be true.
Thanks.

 

[MerryDay]

Hello, thank you for posting this code. Does this indicator repaint? Because with certain settings that I input and the time frame and the trading instrument I am looking at, it seems too good to be true.
Thanks.

This is an MTF (multi-timeframe) indicator.
It overlays a higher timeframe on your lower timeframe chart.

As it is not possible to know what the close of the higher timeframe candle is going to be; so yes, it will repaint in the interim.
If you overlay 5min candles on a 1min chart, five 1min candles will repaint until the 5min candle closes.

Regarding the indicators with a "repaints" prefix on this forum, it's important to note that they do indeed repaint.

 

[henry1224]

if you set the first agg period to the same as the chart then only the second Agg will continue to repaint until the second agg completes its bar