RCI_3_Lines For ThinkorSwim

[RickK]

RCI_3_Lines For ThinkorSwim
Eureka! Well, sort of.

Through some sleuthing on the google machine I found out that the RCI_3_Lines indicator is nothing other than 3 instances of the Spearman indicator. So, I pieced it together and, behold....the RCI_3_Lines indicator (below).

I was happy to have figured this out on my own, but as it turns out I'm not so thrilled with the indicator after all. I added some alerts to see what scenarios might work, but they were very inconsistent so I commented them out. You can turn them back on by editing the code.

Anyway, unless someone can come up with a good use for this in terms of entries, exits, etc. .... I'm sort of done with this.

#
# RCI_3_Lines is simply 3 instances of the Spearman indicator
# set to lengths 9, 36 and 52.  I eliminated the Spearman Average line.
# pieced together by @RickKennedy, thinkscript.com, 2020/11/22

declare lower;

input price = close;
input length_9 = 9;
input length_36 = 36;
input length_52 = 52;
input averageLength = 3;
input over_bought = 80;
input over_sold = -80;
input showBreakoutSignals =yes;

# instance 9 length
assert(length_9 >= 2, "'length' must be greater than or equal to 2: " + length_9);

def sumSqr9 = fold i9 = 0 to length_9 with sum9 do
sum9 + Sqr((length_9 - i9) - fold j9 = 0 to length_9 with rank9
do rank9 + if GetValue(price, i9, length_9 - 1) > GetValue(price, length_9 - j9 - 1) or GetValue(price, i9) == GetValue(price, length_9 - j9 - 1) and i9 <= length_9 - j9 - 1 then 1 else 0);


# instance 36 length
assert(length_36 >= 2, "'length' must be greater than or equal to 2: " + length_36);

def sumSqr36 = fold i36 = 0 to length_36 with sum36 do
sum36 + Sqr((length_36 - i36) - fold j36 = 0 to length_36 with rank36
do rank36 + if GetValue(price, i36, length_36 - 1) > GetValue(price, length_36 - j36 - 1) or GetValue(price, i36) == GetValue(price, length_36 - j36 - 1) and i36 <= length_36 - j36 - 1 then 1 else 0);


# instance 52 length
assert(length_52 >= 2, "'length' must be greater than or equal to 2: " + length_52);

def sumSqr52 = fold i52 = 0 to length_52 with sum52 do
sum52 + Sqr((length_52 - i52) - fold j52 = 0 to length_52 with rank52
do rank52 + if GetValue(price, i52, length_52 - 1) > GetValue(price, length_52 - j52 - 1) or GetValue(price, i52) == GetValue(price, length_52 - j52 - 1) and i52 <= length_52 - j52 - 1 then 1 else 0);


# plots
plot Spearman9 = 100 * (1 - 6 * sumSqr9 / (length_9 * (Sqr(length_9) - 1)));
plot Spearman36 = 100 * (1 - 6 * sumSqr36 / (length_36 * (Sqr(length_36) - 1)));
plot Spearman52 = 100 * (1 - 6 * sumSqr52 / (length_52 * (Sqr(length_52) - 1)));

plot OverBought = over_bought;
#plot ZeroLine = 0;
plot OverSold = over_sold;

Spearman9.SetDefaultColor(GetColor(9));
Spearman36.SetDefaultColor(GetColor(5));
Spearman52.SetDefaultColor(GetColor(6));
OverBought.SetDefaultColor(GetColor(3));
#ZeroLine.SetDefaultColor(GetColor(3));
OverSold.SetDefaultColor(GetColor(3));

# alerts and signals
#plot UpSignal = if Spearman9 <= over_sold and Spearman36 <= over_sold and Spearman52 <= over_sold then over_sold else Double.Nan;
#plot DownSignal = if Spearman9 >= over_bought and Spearman36 >= over_bought and Spearman52 >= over_bought then over_bought else Double.Nan;

#plot UpSignal = if Spearman9 > Spearman9[1] and Spearman36 > Spearman36[1] and Spearman52 > Spearman52[1] then over_sold else Double.Nan;
#plot DownSignal = if Spearman9 < Spearman9[1] and Spearman36 < Spearman36[1] and Spearman52 < Spearman52[1] then over_sold else Double.Nan;

#plot UpSignal = if Spearman9 > 50 and Spearman36 > Spearman36[1] and Spearman36 < -50 and Spearman52 <-50 and Spearman36 crosses above Spearman52 then over_sold else Double.Nan;
#plot DownSignal = if Spearman9 < -50 and Spearman36 < Spearman36[1] and Spearman36 > 50 and Spearman52 > 50 and Spearman36 crosses below Spearman52 then over_bought else Double.Nan;



#Alert(UpSignal, "  LOOK FOR LONG   ", Alert.Bar, Sound.Chimes);
#Alert(DownSignal, " LOOK FOR SHORT      ", Alert.Bar, Sound.Bell);

#UpSignal.SetHiding(!showBreakoutSignals);
#DownSignal.SetHiding(!showBreakoutSignals);

#UpSignal.SetDefaultColor(Color.UPTICK);
#UpSignal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
#DownSignal.SetDefaultColor(Color.DOWNTICK);
#DownSignal.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);