Pivot Pivots Confirmation with Trading Levels For ThinkOrSwim

[J007RMC]

Great Script I added this to my chart...

input n = 5;#hint n: For pivot and standard deviation 
input addAtPercentStDev = 75;#hint addAtPercentStDev: Add at this percent of standard deviation below previous low
input initialLots = 4;#hint initialLots: Set to preference
input lotsToAdd = 2;#hint lotsToAdd: Number of lots to add on a pull back 
input stDevMult = 2.0;#hint stDevMult: trail stop multiplier 
input labels = yes;

def openingLots = Max(4, initialLots);
def addedlots = Max(2, lotsToAdd);
AddLabel(initialLots < openingLots, " Error: Initial lots must be 4 or more ", Color.Cyan);
AddLabel(lotsToAdd < addedLots, " Error: Lots to add must be 2 or more ", Color.Cyan);
def h = high;
def l = low;
def c = close;
def nan = Double.NaN;
def tick = TickSize();
def x = BarNumber();
def stDev = CompoundValue(1, StDev(c, n), nan);
def ll = l == Lowest(l, n);
def LPx = if ll then x else nan; 
def LP_low = if !IsNaN(LPx) then l else LP_Low[1]; 
def LP_High = if !IsNaN(LPx) then h else LP_High[1];
def confirmation_count = if ll then 0 else 
if c crosses above LP_high 
then confirmation_count[1] + 1 
else confirmation_count[1];
def confirmationX = if confirmation_count crosses above 0
then x else nan;
def confirmed = confirmation_count crosses above 0;

def ro;
def stc;
def trail;
def retrace;
if confirmed {
ro = Round((c + (c - LP_Low) / (openingLots - 2)) / tick, 0) * tick;
stc = LP_Low;
trail = LP_Low;
retrace = LP_Low;
}else{
ro = CompoundValue(1, ro[1], nan);
stc = stc[1];
trail = Round(Max(trail[1], l[1] - stDev[1] * stDevMult) / tick, 0) * tick; 
retrace = Round(Max(retrace[1], l[1] - StDev[1] * addAtPercentStDev / 100) / tick, 0) * tick; 
}

def ro_reached = if confirmed then 0 else 
if h > ro then 1 else ro_reached[1];
def added = if confirmed then 0 else
if l crosses below retrace then 1 else added[1];
def trail_hit = if confirmed then 0 else
if c < trail then 1 else trail_hit[1];
def stop_hit = if confirmed then 0 else
if l < stc then 1 else stop_hit[1];


plot 
PivotConfirmed = confirmed;
PivotConfirmed.SetDefaultColor(Color.Light_Green);
PivotConfirmed.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);

plot
BuyToOpen = if confirmed then c else nan;
BuyToOpen.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
BuyToOpen.SetDefaultColor(Color.Light_Green);

plot 
SellToClose = if !stop_hit or stop_hit crosses above 0 then stc else nan;
SellToClose.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
SellToClose.SetDefaultColor(Color.RED);

plot 
TrailingStop = if ! trail_hit or trail_hit crosses above 0 then trail else nan;
TrailingStop.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
TrailingStop.SetDefaultColor(Color.Pink);

plot
Add = if !added or added crosses above 0 then retrace else nan;
Add.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
Add.SetDefaultColor(Color.Dark_Green);

plot
RiskOut = if !ro_reached or ro_reached crosses above 0 then ro else nan;
RiskOut.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
RiskOut.SetDefaultColor(CreateColor(215, 215, 215));

AddLabel(labels and BuyToOpen, " BTO "+ openingLots +" = " + BuyToOpen + " ", Color.Light_Green);
Addlabel(labels and BuyToOpen, " ", CreateColor(0, 0, 0));
AddLabel(labels and ro_reached and Add, " Add "+ addedlots +" at = " + Add + " ", Color.Dark_Green);
AddLabel(labels and ro_reached and Add, " ", CreateColor(0, 0, 0));
AddLabel(labels and RiskOut, " Sell " + (openingLots - 2) + " = " + ro + " ", CreateColor(215, 215, 215));
AddLabel(labels and RiskOut, " ", CreateColor(0, 0, 0));
AddLabel(labels and ro_reached and TrailingStop, " Sell "+(1+addedLots-1)+" at = "+trail+" ", Color.Pink);
Addlabel(labels and ro_reached and TrailingStop, " ", CreateColor(0, 0, 0));
AddLabel(labels and SellToClose, " Sell All = " + stc + " ", Color.Red);
Addlabel(labels and SellToClose, " ", CreateColor(0, 0, 0));

#f/ Pivot Confirmation With Trading Levels

 

[J007RMC]

Interesting to note the advanced market moves indicator fired along with the pivot script arrow on the hourly.

 

[Trader Raider]

Very interesting. Thanks for sharing.

 

[RickAns]

I am liking this. Thanks for sharing, J007RMC.

My coding skills are lacking - just starting to learn. I have tried to insert BUY / SELL commands to use the FloatingPL but just not getting it right. Would you please help? The following seems off and I know it can be written better to work with what you have done. I'm not sure how to adapt this to your initial order, the add to order, plus stops and trailing stops.

AddOrder(condition = confirmed, type = OrderType.BUY_TO_OPEN, price = close, name = "LE");
AddOrder(condition = stop_hit, type = OrderType.SELL_TO_CLOSE, price = close, name = "LX");
AddOrder(condition = trail_hit, type = OrderType.SELL_TO_CLOSE, price = close, name = "TrailStop");

Thanks,
Rick

 

[J007RMC]

This is a script I run every day I like it

 

[Nomak]

how do these arrows paint?

 

[J007RMC]

They do, I wait for the pivot shelf to settle with this script I use a swing hi/lo script catching the swings is important to me to look for the swing highs and lo's.... here is the kicker

 

[songwangfb]

does it work on all timeframes or mostly for swings? thanks!

 

[J007RMC]

Yes, works for ticks too

 

[generic]

Heres the code for short entries if anyone is intereseted

input n = 5;#hint n: For pivot and standard deviation
input addAtPercentStDev = 75;#hint addAtPercentStDev: Add at this percent of standard deviation below previous low
input initialLots = 4;#hint initialLots: Set to preference
input lotsToAdd = 2;#hint lotsToAdd: Number of lots to add on a pull back
input stDevMult = 2.0;#hint stDevMult: trail stop multiplier
input labels = no;

def openingLots = Max(4, initialLots);
def addedlots = Max(2, lotsToAdd);
AddLabel(initialLots < openingLots, " Error: Initial lots must be 4 or more ", Color.Cyan);
AddLabel(lotsToAdd < addedLots, " Error: Lots to add must be 2 or more ", Color.Cyan);
def h = high;
def l = low;
def c = close;
def nan = Double.NaN;
def tick = TickSize();
def x = BarNumber();
def stDev = CompoundValue(1, StDev(c, n), nan);
def hh = h == Highest(h, n);
def LPx = if hh then x else nan;
def LP_low = if !IsNaN(LPx) then l else LP_Low[1];
def LP_High = if !IsNaN(LPx) then h else LP_High[1];
def confirmation_count = if hh then 0 else
if c crosses below LP_Low
then confirmation_count[1] + 1
else confirmation_count[1];
def confirmationX = if confirmation_count crosses above 0
then x else nan;
def confirmed = confirmation_count crosses above 0;

def ro;
def stc;
def trail;
def retrace;
if confirmed {
ro = Round((c - (LP_High - c) / (openingLots - 2)) / tick, 0) * tick;
stc = LP_High;
trail = LP_High;
retrace = LP_High;
}else{
ro = CompoundValue(1, ro[1], nan);
stc = stc[1];
trail = Round(Min(trail[1], h[1] + stDev[1] * stDevMult) / tick, 0) * tick;
retrace = Round(Min(retrace[1], h[1] + StDev[1] * addAtPercentStDev / 100) / tick, 0) * tick;
}

def ro_reached = if confirmed then 0 else
if l < ro then 1 else ro_reached[1];
def added = if confirmed then 0 else
if h crosses above retrace then 1 else added[1];
def trail_hit = if confirmed then 0 else
if c > trail then 1 else trail_hit[1];
def stop_hit = if confirmed then 0 else
if h > stc then 1 else stop_hit[1];


plot
PivotConfirmed = confirmed;
PivotConfirmed.SetDefaultColor(Color.Light_Red);
PivotConfirmed.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

plot
BuyToOpen = if confirmed then c else nan;
BuyToOpen.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
BuyToOpen.SetDefaultColor(Color.Light_Green);

plot
SellToClose = if !stop_hit or stop_hit crosses above 0 then stc else nan;
SellToClose.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
SellToClose.SetDefaultColor(Color.RED);

plot
TrailingStop = if ! trail_hit or trail_hit crosses above 0 then trail else nan;
TrailingStop.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
TrailingStop.SetDefaultColor(Color.Pink);

plot
Add = if !added or added crosses above 0 then retrace else nan;
Add.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
Add.SetDefaultColor(Color.Dark_Green);

plot
RiskOut = if !ro_reached or ro_reached crosses above 0 then ro else nan;
RiskOut.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
RiskOut.SetDefaultColor(CreateColor(215, 215, 215));

AddLabel(labels and BuyToOpen, " BTO "+ openingLots +" = " + BuyToOpen + " ", Color.Light_Green);
Addlabel(labels and BuyToOpen, " ", CreateColor(0, 0, 0));
AddLabel(labels and ro_reached and Add, " Add "+ addedlots +" at = " + Add + " ", Color.Dark_Green);
AddLabel(labels and ro_reached and Add, " ", CreateColor(0, 0, 0));
AddLabel(labels and RiskOut, " Sell " + (openingLots - 2) + " = " + ro + " ", CreateColor(215, 215, 215));
AddLabel(labels and RiskOut, " ", CreateColor(0, 0, 0));
AddLabel(labels and ro_reached and TrailingStop, " Sell "+(1+addedLots-1)+" at = "+trail+" ", Color.Pink);
Addlabel(labels and ro_reached and TrailingStop, " ", CreateColor(0, 0, 0));
AddLabel(labels and SellToClose, " Sell All = " + stc + " ", Color.Red);
Addlabel(labels and SellToClose, " ", CreateColor(0, 0, 0));

#f/ Pivot Confirmation With Trading Levels

 

[stone]

Help with turning a study into a scan. I can’t find who orginally posted this if it was here. There two seperate studies one for Longs one for Shorts. I’m trying to turn one into a scan: The scan says to remove labels. I did, must have at least one plot. This is where I’ve tried to alter the study to get results with no luck.

Here is the original clean code for the study. Can someone help me turn this into a scan please??
input n = 5;#hint n: For pivot and standard deviation
input addAtPercentStDev = 75;#hint addAtPercentStDev: Add at this percent of standard deviation below previous low
input initialLots = 4;#hint initialLots: Set to preference
input lotsToAdd = 2;#hint lotsToAdd: Number of lots to add on a pull back
input stDevMult = 2.0;#hint stDevMult: trail stop multiplier
input labels = no;

def openingLots = Max(4, initialLots);
def addedlots = Max(2, lotsToAdd);
AddLabel(initialLots < openingLots, " Error: Initial lots must be 4 or more ", Color.Cyan);
AddLabel(lotsToAdd < addedLots, " Error: Lots to add must be 2 or more ", Color.Cyan);
def h = high;
def l = low;
def c = close;
def nan = Double.NaN;
def tick = TickSize();
def x = BarNumber();
def stDev = CompoundValue(1, StDev(c, n), nan);
def hh = h == Highest(h, n);
def LPx = if hh then x else nan;
def LP_low = if !IsNaN(LPx) then l else LP_Low[1];
def LP_High = if !IsNaN(LPx) then h else LP_High[1];
def confirmation_count = if hh then 0 else
if c crosses below LP_Low
then confirmation_count[1] + 1
else confirmation_count[1];
def confirmationX = if confirmation_count crosses above 0
then x else nan;
def confirmed = confirmation_count crosses above 0;

def ro;
def stc;
def trail;
def retrace;
if confirmed {
ro = Round((c - (LP_High - c) / (openingLots - 2)) / tick, 0) * tick;
stc = LP_High;
trail = LP_High;
retrace = LP_High;
}else{
ro = CompoundValue(1, ro[1], nan);
stc = stc[1];
trail = Round(Min(trail[1], h[1] + stDev[1] * stDevMult) / tick, 0) * tick;
retrace = Round(Min(retrace[1], h[1] + StDev[1] * addAtPercentStDev / 100) / tick, 0) * tick;
}

def ro_reached = if confirmed then 0 else
if l < ro then 1 else ro_reached[1];
def added = if confirmed then 0 else
if h crosses above retrace then 1 else added[1];
def trail_hit = if confirmed then 0 else
if c > trail then 1 else trail_hit[1];
def stop_hit = if confirmed then 0 else
if h > stc then 1 else stop_hit[1];


plot
PivotConfirmed = confirmed;
PivotConfirmed.SetDefaultColor(Color.Light_Red);
PivotConfirmed.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

plot
BuyToOpen = if confirmed then c else nan;
BuyToOpen.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
BuyToOpen.SetDefaultColor(Color.Light_Green);

Ok these are the changes I made: created a study; and used the study and said TRUE: I only got a couple results on a D and not on smaller time frames. I think I may have figured this out and i’m so shocked and happy I’m finally learning this stuff. Let me know if there is something else I may have missed:

input n = 5;#hint n: For pivot and standard deviation
input addAtPercentStDev = 75;#hint addAtPercentStDev: Add at this percent of standard deviation below previous low
input initialLots = 4;#hint initialLots: Set to preference
input lotsToAdd = 2;#hint lotsToAdd: Number of lots to add on a pull back
input stDevMult = 2.0;#hint stDevMult: trail stop multiplier
input labels = no;

def openingLots = Max(4, initialLots);
def addedlots = Max(2, lotsToAdd);

def h = high;
def l = low;
def c = close;
def nan = Double.NaN;
def tick = TickSize();
def x = BarNumber();
def stDev = CompoundValue(1, StDev(c, n), nan);
def hh = h == Highest(h, n);
def LPx = if hh then x else nan;
def LP_low = if !IsNaN(LPx) then l else LP_Low[1];
def LP_High = if !IsNaN(LPx) then h else LP_High[1];
def confirmation_count = if hh then 0 else
if c crosses below LP_Low
then confirmation_count[1] + 1
else confirmation_count[1];
def confirmationX = if confirmation_count crosses above 0
then x else nan;
def confirmed = confirmation_count crosses above 0;

def ro;
def stc;
def trail;
def retrace;
if confirmed {
ro = Round((c - (LP_High - c) / (openingLots - 2)) / tick, 0) * tick;
stc = LP_High;
trail = LP_High;
retrace = LP_High;
}else{
ro = CompoundValue(1, ro[1], nan);
stc = stc[1];
trail = Round(Min(trail[1], h[1] + stDev[1] * stDevMult) / tick, 0) * tick;
retrace = Round(Min(retrace[1], h[1] + StDev[1] * addAtPercentStDev / 100) / tick, 0) * tick;
}

def ro_reached = if confirmed then 0 else
if l < ro then 1 else ro_reached[1];
def added = if confirmed then 0 else
if h crosses above retrace then 1 else added[1];
def trail_hit = if confirmed then 0 else
if c > trail then 1 else trail_hit[1];
def stop_hit = if confirmed then 0 else
if h > stc then 1 else stop_hit[1];


plot
PivotConfirmed = confirmed;
PivotConfirmed.SetDefaultColor(Color.Light_Red);
PivotConfirmed.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);