Pullback to Moving Average Indicator For ThinkOrSwim

8Nick8

Active member
2019 Donor
VIP
Pullback to Moving Average Indicator For ThinkOrSwim
This code created by Pete Hahn.

It plots the Up Arrow when these two conditions are met:
  • Price pulls back to 20MA
  • CCI is below 100.
What I did was to apply this indicator and scan together with an uptrending watchlist and the results are satisfactory.
You may change the Moving Average by changing the value of ma1.

Code:
#  Pullback to Moving Average Indicator For ThinkOrSwim  by Pete Hahn.

input length = 14;
def price = close + low + high;
def linDev = lindev(price, length);
def CCI = if linDev == 0 then 0 else (price - Average(price, length)) / linDev / 0.015;
def ma1 = Average(close, 20);
def priceAboveMa1 = close > ma1;
def atLeastFiveBarsAboveMa1 = Lowest(priceAboveMa1, 5) > 0;
def firstTouchInFiveBars = atLeastFiveBarsAboveMa1[1] and close < ma1;

plot signal = if firstTouchInFiveBars and CCI < 100 then low else Double.NaN;
       signal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
       signal.SetDefaultColor(Color.GREEN);

Hope this is useful.
 
Last edited by a moderator:

BenTen's Watchlist + Setup + Trade Recaps

Get access to Ben's watchlist, swing trading strategy, ThinkorSwim setup, and trade examples.

Learn more

xNKg24Q.jpg


Hi @markos, i have screenshot two pictures to highlight how the buy arrow will appear. What i did was to use the codes and created a scan query on Daily timeframe. The objective of this scan is to scan for stocks that have met these two conditions, Price touch or close below the 20D MA with the CCI <100 (Oversold) If these two condition is met, an Up Arrow will appear.

Similarly, the CCI can serve to determine when is the Entry Pt, ie BUY is triggered when CCI cuts above the -100 line.

Currently, I am getting some inconsistent scan results as shown in the pics, where, there few arrows are plotted even when the CCI value is not <100.

It will beIf anyone can help to tweak the code, so that we can get the arrows plotted ONLY when the two conditions are present. It will be great

Hope I have answer your query.

Thanks
 

Attachments

  • xNKg24Q.jpg
    xNKg24Q.jpg
    46.2 KB · Views: 150
How does the code look in the editor? No errors? The order of operations may be off, just a guess.
Should there be another set of Parenthesis around the CCI line?
Check order of operations in the thinkscript manual, I could be wrong. I don't have ToS available now.
Anyone else?
 
Last edited:
How does the code look in the editor? No errors? The order of operations may be off, just a guess.
Should there be another set of Parenthesis around the CCI line?
Check order of operations in the thinkscript manual, I could be wrong. I don't have ToS available now.
Anyone else?

Code:
input tenkan_period = 9;
input kijun_period = 26;
plot Tenkan = (Highest(high, tenkan_period) + Lowest(low, tenkan_period)) / 2;
plot Kijun = (Highest(high, kijun_period) + Lowest(low, kijun_period)) / 2;
plot "Span A" = (Tenkan[kijun_period] + Kijun[kijun_period]) / 2;
plot "Span B" = (Highest(high[kijun_period], 2 * kijun_period) + Lowest(low[kijun_period], 2 * kijun_period)) / 2;
plot Chikou = close[-kijun_period];
Tenkan.SetDefaultColor(GetColor(1));
Kijun.SetDefaultColor(GetColor(2));
"Span A".SetDefaultColor(GetColor(3));
"Span B".SetDefaultColor(GetColor(4));
Chikou.SetDefaultColor(GetColor(5));
DefineGlobalColor("Bullish", Color.YELLOW);
DefineGlobalColor("Bearish", Color.RED);
AddCloud("Span A", "Span B", globalColor("Bullish"), globalColor("Bearish"));
input length = 14;
def price = close + low + high;
def linDev = lindev(price, length);
def CCI = if linDev == 0 then 0 else (price - Average(price, length)) / linDev / 0.015;
def ma1 = Average(close, 10);
def priceAboveCloud = close > "Span A" and close > "Span B";
def priceAboveMa1 = close > ma1;
def atLeastFiveBarsAboveMa1 = Lowest(priceAboveMa1, 5) > 0;
def firstTouchInFiveBars = atLeastFiveBarsAboveMa1[1] and close < ma1;
plot signal = if firstTouchInFiveBars and CCI < 100 then low else Double.NaN;
signal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
signal.SetDefaultColor(Color.GREEN);

@markos this is how the original code was written, I realized that I don't really need the ichimoku cloud as another condition to be screened and removed it to just plot up arrow when the price pullbacks to 20MA and CCI is <100.


Code:
input length = 14;
def price = close + low + high;
def linDev = lindev(price, length);
def CCI = if linDev == 0 then 0 else (price - Average(price, length)) / linDev / 0.015;
def ma1 = Average(close, 20);

def priceAboveMa1 = close > ma1;
def atLeastFiveBarsAboveMa1 = Lowest(priceAboveMa1, 5) > 0;
def firstTouchInFiveBars = atLeastFiveBarsAboveMa1[1] and close < ma1;
plot signal = if firstTouchInFiveBars and CCI < 100 then low else Double.NaN;
signal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
signal.SetDefaultColor(Color.GREEN);

Hope we can tweak the code to achieve the desired results.. thanks
 
@Nick Try to leave everything in the code, it will not take up memory or be recognized if you just comment out the lines you don't want. So, just put a # in front of each line you want out and it will be ignored. That way you will see if any of the code you want is somehow dependent on the code you don't want. Otherwise, try to change the ICHI stuff to (Color.Current) and hopefully that will make the color transparent. (I hope, it's just a guess) Next, go through the Universe and the ToS manuals. Another "thunk", CCI is a built in study, try to just reference that vs the linDev lines as they might point to the ICHIstuff...
 
@Nick Try to leave everything in the code, it will not take up memory or be recognized if you just comment out the lines you don't want.
So, just put a # in front of each line you want out and it will be ignored.
That way you will see if any of the code you want is somehow dependent on the code you don't want.
Otherwise, try to change the ICHI stuff to (Color.Current) and hopefully that will make the color transparent. (I hope, it's just a guess)
Next, go through the Universe and the ToS manuals.
Another "thunk", CCI is a built in study, try to just reference that vs the linDev lines as they might point to the ICHIstuff...
@markos thank you
 
Hi, i manage to find this code created by Pete Hahn. It plots the UpArrow these two conditions are met, Price pulls back to 20MA and CCI is below 100. What i did was to apply this indicator and scan together with a uptrending watchlist and the results are satisfactory. You may change the Moving Average by changing the value of ma1.

Code:
input length = 14;

def price = close + low + high;

def linDev = lindev(price, length);

def CCI = if linDev == 0 then 0 else (price - Average(price, length)) / linDev / 0.015;

def ma1 = Average(close, 20);

def priceAboveMa1 = close > ma1;

def atLeastFiveBarsAboveMa1 = Lowest(priceAboveMa1, 5) > 0;

def firstTouchInFiveBars = atLeastFiveBarsAboveMa1[1] and close < ma1;

plot signal = if firstTouchInFiveBars and CCI < 100 then low else Double.NaN;

signal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);

signal.SetDefaultColor(Color.GREEN);

Hope this is useful.

Thanks
How can I get this script with only the moving average pullback and not the CCI. I'm trying to remove the CCI part. Please let me know. Thanks
 
How can I get this script with only the moving average pullback and not the CCI. I'm trying to remove the CCI part. Please let me know. Thanks
Find and Change This:
Rich (BB code):
plot signal = if firstTouchInFiveBars and CCI < 100 then low else Double.NaN;
To This:
Rich (BB code):
plot signal = if firstTouchInFiveBars then low else Double.NaN;
 
Pullback to Moving Average Indicator For ThinkOrSwim
This code created by Pete Hahn.

It plots the Up Arrow when these two conditions are met:
  • Price pulls back to 20MA
  • CCI is below 100.
What I did was to apply this indicator and scan together with an uptrending watchlist and the results are satisfactory.
You may change the Moving Average by changing the value of ma1.

Code:
#  Pullback to Moving Average Indicator For ThinkOrSwim  by Pete Hahn.

input length = 14;
def price = close + low + high;
def linDev = lindev(price, length);
def CCI = if linDev == 0 then 0 else (price - Average(price, length)) / linDev / 0.015;
def ma1 = Average(close, 20);
def priceAboveMa1 = close > ma1;
def atLeastFiveBarsAboveMa1 = Lowest(priceAboveMa1, 5) > 0;
def firstTouchInFiveBars = atLeastFiveBarsAboveMa1[1] and close < ma1;

plot signal = if firstTouchInFiveBars and CCI < 100 then low else Double.NaN;
       signal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
       signal.SetDefaultColor(Color.GREEN);

Hope this is useful.
Is it possible to get the reverse added to this with a red arrow on top of the bar when price crosses from down to above the 20MA?
 

New Indicator: Buy the Dip

Check out our Buy the Dip indicator and see how it can help you find profitable swing trading ideas. Scanner, watchlist columns, and add-ons are included.

Download the indicator

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
251 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