Relative Strength RP Labels For ThinkOrSwim

[Adeodatus]

@boatshoes
I didn't create the logic for this study (my specialty is putting the lipstick on the pig)
If you look at the first post in this thread, you will find how the movement is defined.
According to this study, technology has been down down down for quite a while now... And look there is staples slowly rising...

Perhaps a floating bubble, then clik on to visit chart

 

[Adeodatus]

i am still encountering movement from Nick's scripts/indicators, unquestionable scan results. With more live market data, hope has stood aside.

 

[TheAlchemist17]

MerryDay what do you think about the idea of RS of market and sectors could that be done

Al Cuervo, did you ever find a script that does this?

 

[MerryDay]

Al Cuervo, did you ever find a script that does this?

https://usethinkscript.com/threads/analyze-index-sector-or-industry-data.11895/#post-102520

 

[TechGuy]

Here's a scan for hunting for either Bullish or Bearish relative performance (strength).

# Written by Nick 03/03/22

#Change the Input parameters to your liking and in the Plot section, either hash (#) or
# unhash the plot that you want to scan for, either Bull or Bear.

#Inputs
input ComparionSymbol = "SPY";
input AvgType = AverageType.SIMPLE;
input Price = FundamentalType.CLOSE;
input STMALength = 5;
input LTMALength = 21;

#Definitions
def SymbolPrc = Fundamental(Price);
def ComparisonPrc = Fundamental(Price, ComparionSymbol);
def STMA = MovingAverage(AvgType, SymbolPrc / ComparisonPrc, STMALength);
def LTMA = MovingAverage(AvgType, SymbolPrc / ComparisonPrc, LTMALength);
def MABull = STMA > LTMA;
def MABear = STMA <= LTMA;

#Plots for Scans
plot BullRP = if MABull then 1 else 0;
#plot BearRP = if MABear then 1 else 0;

Nick, I appreciate your code. I used one for the BearRP and deleted the line with the Bull RP but nothing shows up. I included in my scan that the Condition result has to be less than. I also tried the script leaving only the Bull in with a greater than. I then changed to a shower MA period to see if anything comes up...similar results. Did I made a mistake? Thanks

 

[Nick]

Nick, I appreciate your code. I used one for the BearRP and deleted the line with the Bull RP but nothing shows up. I included in my scan that the Condition result has to be less than. I also tried the script leaving only the Bull in with a greater than. I then changed to a shower MA period to see if anything comes up...similar results. Did I made a mistake? Thanks

Tech Guy, I don't think that what you did should have affected the scan results.
Using the Daily aggregation period and the SP500 watchlist, I used the scan in this post and # out the BearRP and I received 265 results. Then, I changed the BearRP to only < and # out the BullRP and it returned 235 results. So, the scan works because total results were 500.
Thanks for your appreciation and good luck.

 

[TechGuy]

Tech Guy, I don't think that what you did should have affected the scan results.
Using the Daily aggregation period and the SP500 watchlist, I used the scan in this post and # out the BearRP and I received 265 results. Then, I changed the BearRP to only < and # out the BullRP and it returned 235 results. So, the scan works because total results were 500.
Thanks for your appreciation and good luck.

Thanks Nick. I just had to use "Value" in the criteria with the "Aggregation" rather than an greater than, less than, etc. I added this script to a few other "filters" to get something more like I was looking for. But, I may change these criteria based on results I get over the next week.

 

[Nick]

Thanks for the update and good trading.

 

[balasuna15]

Perhaps a floating bubble, then clik on to visit chart

Can you point me to the study or chart ?
+ @MerryDay

 

[MerryDay]

Can you point me to the study or chart ?
+ @MerryDay

https://usethinkscript.com/threads/sector-rotation-indicator-for-thinkorswim.845/#post-6366

 

[RapperT]

I love this and have been using it for my own swing trading but the script is not pulling the correct sector for me in some cases

 

[Nick]

When picking the comparison symbol, sometimes you have to wait for ToS to display the choices. When this occurs, enter the symbol and press enter twice. Hope this helps.

 

[PonchoMike]

I use a white background. The text is white, a little hard to read on my charts. Is it possible to change the text to black?

 

[Nick]

Color is the third variable of the AddLabel built-in function. However, I think that controls the color of the label, not the text within the box. I don't know how to change the text color. Try a black background?
Merry Day, can you help?

 

[useThinkScript]

I use a white background. The text is white, a little hard to read on my charts. Is it possible to change the text to black?

Color is the third variable of the AddLabel built-in function. However, I think that controls the color of the label, not the text within the box. I don't know how to change the text color. Try a black background?
Merry Day, can you help?

In the ToS app, the text color of labels on a chart is always determined by the background color of the chart.

If the background is black, the text color will be black, if the background is purple, the text color is purple.

Sadly no.
ToS does not provide the ability to customize the text color of labels on a chart .

 

[PonchoMike]

I have looked at this before, came up empty. Thanks for looking.