PMF (Power Momentum Formula) for ThinkorSwim

I

isaacramsay

New member
2019 Donor
Here is the Power Momentum Formula, a Momentum Divergence study/strategy. So far, it checks for the high/low over the last 60 bars, and if the Momentum(28) is not a high/low to go along with the price high/low and they're more than 6 bars apart, then lines are drawn. It still needs a little work, and I still have to add the trigger point (trade entry) conditions with alerts and potential profit ranges, then make it into a strategy.



Upper Indicator

Code:
declare upper;

# DEFS
def length = 28;
def barsback = 60;
def bn = BarNumber();
input showarrows = yes;

# MOMENTUM
def mom = close - close[length];

# PRICE BULLISH
plot low60 = Lowest(low, barsback); low60.setdefaultColor(color.dark_green);
def pricelowest = low == Lowest(low, barsback);# and low < low[1] and low < low[-1];
def pricelowBN = if pricelowest then bn else pricelowBN[1];

# PRICE BEARISH
plot high60 = Highest(high, barsback); high60.setdefaultColor(color.dark_red);
def pricehighest = high == Highest(high, barsback);
def pricehighBN = if pricehighest then bn else pricelowBN[1];

# BULLISH MOMENTUM
def momlowest = Lowest(mom, barsback);
#AddLabel(yes, "momlowest: " + momlowest, Color.GRAY);
def momlowBN = if mom == momlowest then bn else momlowBN[1];

# BEARISH MOMENTUM
def momhighest = Highest(mom, barsback);
def momhighBN = if mom == momhighest then bn else momhighBN[1];

# BULLISH SETUP
def bullA =  GetValue(low, BarNumber() - pricelowBN, 0);
def bullB = GetValue(mom, BarNumber() - pricelowBN, 0);
def bullC = GetValue(mom, BarNumber() - momlowBN, 0);
def bullD = GetValue(low, BarNumber() - momlowBN, 0);
#def bullE = if pricelowBN > momlowbn then highest(mom[momlowbn:pricelowBN] else highest(mom[pricelowBN:momlowbn];

def bullsetup =
        AbsValue(momlowBN - pricelowBN) > 5 and
        bullA < bullD and
        bullB > bullC and
        pricelowest and pricelowBN > pricelowBN[1] and
        low < low[1] and low < low[-1] and
        mom != momlowest and
        mom < mom[1] and mom < mom[-1];
#bullsetup.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
#bullsetup.setdefaultcolor(Color.MAGENTA);
AddLabel(bullsetup, "PMF bullish setup", Color.DARK_GREEN);
AddLabel(bullsetup, "priceLowBN: " + pricelowBN, Color.GRAY);
AddLabel(bullsetup, "momlowBN: " + momlowBN, Color.GRAY);
AddLabel(bullsetup, "bullA: " + bullA, Color.GRAY);
AddLabel(bullsetup, "bullB: " + bullB, Color.GRAY);
AddLabel(bullsetup, "bullC: " + bullC, Color.GRAY);
AddLabel(bullsetup, "bullD: " + bullD, Color.GRAY);
#addchartBubble(pricelowest and bullsetup, low, "A", color.green, yes);
#addchartBubble(mom == momlowest and bullsetup, low, "D", color.green, yes);

# BEARISH SETUP
def bearA = GetValue(high, BarNumber() - pricehighBN, 0);
def bearB = GetValue(mom, BarNumber() - pricehighBN, 0);
def bearC = GetValue(mom, BarNumber() - momhighBN, 0);
def bearD = GetValue(high, BarNumber() - momhighBN, 0);

def bearsetup = AbsValue(pricehighBN - momhighBN) > 5 and
        bearA > bearD and
        bearB < bearC and
        pricehighest and pricehighBN > pricehighBN[1] and
        high > high[1] and high > high[-1]
        and mom != momhighest and
        mom > mom[1] and mom > mom[-1];
AddLabel(bearsetup, "PMF bullish setup", Color.DARK_GREEN);
AddLabel(bearsetup, "pricehighBN: " + pricehighBN, Color.GRAY);
AddLabel(bearsetup, "momhighBN: " + momhighBN, Color.GRAY);
AddLabel(bearsetup, "bearA: " + bearA, Color.GRAY);
AddLabel(bearsetup, "bearB: " + bearB, Color.GRAY);
AddLabel(bearsetup, "bearC: " + bearC, Color.GRAY);
AddLabel(bearsetup, "bearD: " + bearD, Color.GRAY);

def lastBar = HighestAll(if !IsNaN(close) then BarNumber() else 0);

# BULL DIV LINE
def cnV = fold i = 1 to lastBar
        with b = Double.NaN
        while IsNaN(b)
        do if GetValue(bullsetup, -i) == 1 then i else Double.NaN;

def startBdiv = if pricelowBN > momlowBN then momlowBN else pricelowBN ;
def startBullDiv = BarNumber() == GetValue(startBdiv, -cnV);
def isBullDiv = if startBullDiv then 1 else if bullsetup[1] then 0 else isBullDiv[1];
def mBull = if startBullDiv then (GetValue(low, -cnV) - low) / cnV else mBull[1];
def line1 = if startBullDiv then low - ATR() / 2 else line1[1] + mBull;
plot bullDivLine = if isBullDiv and !bullsetup then line1 else Double.NaN;
bullDivLine.SetDefaultColor(Color.GREEN);
bullDivLine.SetLineWeight(2);

# BEAR DIV LINE
def cnA = fold j = 1 to lastBar
        with c = Double.NaN
        while IsNaN(c)
        do if GetValue(bearsetup, -j) == 1 then j else Double.NaN;

def initbear = if pricehighBN > momhighBN then momhighBN else pricehighBN;
def startBearDiv = BarNumber() == GetValue(initbear, -cnA);
def isBearDiv = if startBearDiv then 1 else if bearsetup[1] then 0 else isBearDiv[1];
def mBear = if startBearDiv then (GetValue(high, -cnA) - high) / cnA else mBear[1];
def line2 = if startBearDiv then high + ATR() / 2 else line2[1] + mBear;
plot bearDivLine = if isBearDiv and !bearsetup then line2 else Double.NaN;
bearDivLine.SetDefaultColor(Color.RED);
bearDivLine.SetLineWeight(2);

# divergence arrows
plot bullArrow = if bullsetup then bullDivLine[1] + mBull[1] else Double.NaN;
bullArrow.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
bullArrow.SetLineWeight(2);
bullArrow.SetDefaultColor(Color.UPTICK);
bullArrow.SetHiding(!showarrows);
plot beaArrow = if bearsetup then bearDivLine[1] + mBear[1] else Double.NaN;
beaArrow.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
beaArrow.SetLineWeight(2);
beaArrow.SetDefaultColor(Color.PINK);
beaArrow.SetHiding(!showarrows);

Lower Indicator

Code:
AssignBackgroundColor(Color.BLACK);
input length = 28;
input barsback = 60;

plot zeroline = 0;
plot mom = close - close[length];
plot highest = Highest(mom, barsback);
plot lowest = Lowest(mom, barsback);
mom.SetDefaultColor(Color.WHITE);
zeroline.SetDefaultColor(Color.GRAY);
highest.SetDefaultColor(Color.DARK_RED);
lowest.SetDefaultColor(Color.DARK_GREEN);

#plot x = if mom == lowest and mom < mom[1] and mom < mom[-1] then -.5 else 0;
#x.SetDefaultColor(Color.GREEN);

#plot y = if mom == highest and mom > mom[1] and mom > mom[-1] then .5 else 0;
#y.SetDefaultColor(Color.RED);

declare upper;

# DEFS
def bn = BarNumber();
input showarrows = yes;

# PRICE BULLISH
def low60 = Lowest(low, barsback);
def pricelowest = low == Lowest(low, barsback);# and low < low[1] and low < low[-1];
def pricelowBN = if pricelowest then bn else pricelowBN[1];

# PRICE BEARISH
def high60 = Highest(high, barsback);
def pricehighest = high == Highest(high, barsback);
def pricehighBN = if pricehighest then bn else pricelowBN[1];

# BULLISH MOMENTUM
def momlowest = Lowest(mom, barsback);
#AddLabel(yes, "momlowest: " + momlowest, Color.GRAY);
def momlowBN = if mom == momlowest then bn else momlowBN[1];

# BEARISH MOMENTUM
def momhighest = Highest(mom, barsback);
def momhighBN = if mom == momhighest then bn else momhighBN[1];

# BULLISH SETUP
def bullA =  GetValue(low, BarNumber() - pricelowBN, 0);
def bullB = GetValue(mom, BarNumber() - pricelowBN, 0);
def bullC = GetValue(mom, BarNumber() - momlowBN, 0);
def bullD = GetValue(low, BarNumber() - momlowBN, 0);
#def bullE = if pricelowBN > momlowbn then highest(mom[momlowbn:pricelowBN] else highest(mom[pricelowBN:momlowbn];

def bullsetup =
        AbsValue(momlowBN - pricelowBN) > 5 and
        bullA < bullD and
        bullB > bullC and
        pricelowest and pricelowBN > pricelowBN[1] and
        low < low[1] and low < low[-1] and
        mom != momlowest and
        mom < mom[1] and mom < mom[-1];
#bullsetup.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
#bullsetup.setdefaultcolor(Color.MAGENTA);
AddLabel(bullsetup, "PMF bullish setup", Color.DARK_GREEN);
AddLabel(bullsetup, "priceLowBN: " + pricelowBN, Color.GRAY);
AddLabel(bullsetup, "momlowBN: " + momlowBN, Color.GRAY);
AddLabel(bullsetup, "bullA: " + bullA, Color.GRAY);
AddLabel(bullsetup, "bullB: " + bullB, Color.GRAY);
AddLabel(bullsetup, "bullC: " + bullC, Color.GRAY);
AddLabel(bullsetup, "bullD: " + bullD, Color.GRAY);
#addchartBubble(pricelowest and bullsetup, low, "A", color.green, yes);
#addchartBubble(mom == momlowest and bullsetup, low, "D", color.green, yes);

# BEARISH SETUP
def bearA = GetValue(high, BarNumber() - pricehighBN, 0);
def bearB = GetValue(mom, BarNumber() - pricehighBN, 0);
def bearC = GetValue(mom, BarNumber() - momhighBN, 0);
def bearD = GetValue(high, BarNumber() - momhighBN, 0);

def bearsetup = AbsValue(pricehighBN - momhighBN) > 5 and
        bearA > bearD and
        bearB < bearC and
        pricehighest and pricehighBN > pricehighBN[1] and
        high > high[1] and high > high[-1]
        and mom != momhighest and
        mom > mom[1] and mom > mom[-1];
AddLabel(bearsetup, "PMF bullish setup", Color.DARK_GREEN);
AddLabel(bearsetup, "pricehighBN: " + pricehighBN, Color.GRAY);
AddLabel(bearsetup, "momhighBN: " + momhighBN, Color.GRAY);
AddLabel(bearsetup, "bearB: " + bearB, Color.GRAY);
AddLabel(bearsetup, "bearC: " + bearC, Color.GRAY);

def lastBar = HighestAll(if !IsNaN(close) then BarNumber() else 0);

# calculate bull div line
def cnV = fold i = 1 to lastBar
        with b = Double.NaN
        while IsNaN(b)
        do if GetValue(bullsetup, -i) == 1 then i else Double.NaN;

def startBdiv = if pricelowBN > momlowBN then momlowBN else pricelowBN ;
def startBullDiv = BarNumber() == GetValue(startBdiv, -cnV);
def isBullDiv = if startBullDiv then 1 else if bullsetup[1] then 0 else isBullDiv[1];
def mBull = if startBullDiv then (GetValue(mom, -cnV) - mom) / cnV else mBull[1];
def line1 = if startBullDiv then mom - ATR() / 2 else line1[1] + mBull;
plot bullDivLine = if isBullDiv and !bullsetup then line1 else Double.NaN;
bullDivLine.SetDefaultColor(Color.GREEN);
bullDivLine.SetLineWeight(2);

# calculate bear div line
def cnA = fold j = 1 to lastBar
        with c = Double.NaN
        while IsNaN(c)
        do if GetValue(bearsetup, -j) == 1 then j else Double.NaN;

def initbear = if pricehighBN > momhighBN then momhighBN else pricehighBN;
def startBearDiv = BarNumber() == GetValue(initbear, -cnA);
def isBearDiv = if startBearDiv then 1 else if bearsetup[1] then 0 else isBearDiv[1];
def mBear = if startBearDiv then (GetValue(mom, -cnA) - mom) / cnA else mBear[1];
def line2 = if startBearDiv then mom + ATR() / 2 else line2[1] + mBear;
plot bearDivLine = if isBearDiv and !bearsetup then line2 else Double.NaN;
bearDivLine.SetDefaultColor(Color.RED);
bearDivLine.SetLineWeight(2);

# divergence arrows
plot bullArrow = if bullsetup then bullDivLine[1] + mBull[1] else Double.NaN;
bullArrow.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
bullArrow.SetLineWeight(2);
bullArrow.SetDefaultColor(Color.UPTICK);
bullArrow.SetHiding(!showarrows);
plot beaArrow = if bearsetup then bearDivLine[1] + mBear[1] else Double.NaN;
beaArrow.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
beaArrow.SetLineWeight(2);
beaArrow.SetDefaultColor(Color.PINK);
beaArrow.SetHiding(!showarrows);
 
Last edited by a moderator:
S

Shmandull

New member
Any chance you can confirm the delay and if you have made any adjustments to this indicator since posting? Seems to work well once triggered. Im just wondering how long until confirmation bar is plotted.

Thank you in advance!
 

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