Reversal Candles (Saikou / Hikui) Trend Change for ThinkorSwim

BenTen

Administrative
Staff member
Staff
VIP
This indicator for ThinkorSwim will indicate a reversal in trend through two types of candles: Saikou / Hikui.
  • Saikou means reversal to the downside.
  • Hikui means reversal to the upside.

0YMotoJ.png


thinkScript Code

Rich (BB code):
# Blown Top (Reversal Candle)
# Mobius
# V01.02.2015 Shared Chat Room 01.16.2016

input n = 10;
input n2 = 5;

def o = open;
def h = high;
def l = low;
def c = close;
def RelRange = (close - Lowest(low, n)) /
    (highest(high, n) - lowest(low, n)) > .8;
def Range = High - Low;
def hR = Range == GetValue(Range, GetMaxValueOffset(range, n), n);
def hh = high == GetValue(high, GetMaxValueOffset(high, n), n);
def bodyTop = Max(close, open);
def BlownTop = (high - bodyTop) > .75 * Average(BodyHeight(), n);
plot HighRB = RelRange and hR and hh and BlownTop and Low < Low[1] and close < open;
     HighRB.SetPaintingStrategy(PaintingStrategy.Boolean_Arrow_Down);
     HighRB.SetLineWeight(2);
     HighRB.SetDefaultColor(Color.Plum);
AddChartBubble(HighRB, High + (TickSize() * 4), "BlownTop", Color.Gray, yes);

# Saikou / Hikui Candles that indicate a reveresal in trend
# Candle Pattern originated by Mobius
#Saikou (Supreme Candle)   Hikui (low/humble Candle)
# V01.2014

plot Saikou = h == GetValue(h, GetMaxValueOffset(h, n2), n2) and
              c < c[2] and
              isLongBlack() and
              BodyHeight() > Average(BodyHeight(), n2) and
              l <= getValue(l, GetMaxValueOffset(l, n2), n2);
     Saikou.SetPaintingStrategy(PaintingStrategy.Boolean_Arrow_Down);
     Saikou.SetLineWeight(3);
     Saikou.SetDefaultColor(Color.Plum);
AddChartBubble(Saikou, High + (TickSize() * 4), "Saikou", Color.Gray, yes);
plot Hikui = l == GetValue(l, GetMinValueOffset(l, n2), n2) and
             c > c[2] and
             BodyHeight() > Average(BodyHeight(), n2) and
             h > h[1];
     Hikui.SetPaintingStrategy(PaintingStrategy.Boolean_Arrow_Up);
     Hikui.SetLineWeight(3);
     Hikui.SetDefaultColor(Color.White);
AddChartBubble(Hikui, low - (TickSize() * 10), "Hikui", Color.Gray, no);
# End Reversal Candles

Shareable Link

https://tos.mx/Setf03
 
Last edited:

tomsk

Well-known member
VIP
Thought I might provide some additional info regarding Mobius Blown Top study that @BenTen posted above.

If you look through the code, there are three signals called HighRB, Saikou and Hikui
When he first posted this code in 2016, Mobius mentioned that the HighRB is a rare signal but if it alerts it's worth following.
The other two signals namely Saikou and Hikui are much more common occurrences.

Just as the man said HighRB is a rare signal, I scanned that against the S&P 500 and found no results.
Hope this is helpful

Here is a link to the definition of Blown Top that I found online that you may wish to read

https://www.investopedia.com/terms/b/blowofftop.asp
 
Last edited:

tomsk

Well-known member
VIP
@BenTen Indeed, sometimes it is useful to provide context especially since I happened to see Mobius comments when he posted that study in the lounge. Sure has some possibilities that's for sure.
 

dolomick

Member
So I have a lot of scripts that paint arrows and they sometimes paint on top of each other and I can't see them.

I tried to modify the Japanese reversal script to just give a big dot over or the under the relevant candles, but it's not working. Can someone please fix it for me? I saw a NinjaTrader reversal script that does this and I tried to copy the relevant parts, but I am out of ideas. Should be VERY easy for someone who knows what they are doing. Thanks so much. The Saikou and Hikui ones are the ones I tried to change.
 
Last edited by a moderator:

BenTen

Administrative
Staff member
Staff
VIP
@dolomick Try this, it will paint the color of your candles with the following:
  • CYAN = Hikui
  • MAGENTA = Saikou
  • Blown Top = HighRB
  • No signal = white
Code:
assignPriceColor(if Saikou then color.Magenta else if Hikui then color.CYAN else if HighRB then color.blue else color.white);
 

MerryDay

Administrative
Staff member
Staff
VIP
@pegasis Are you having difficulty scanning for one of the reversal candles? A scan for the Hiku reversal showed 8 results.

dKWE6o4.png

Google has 70,000 video results for setting up a TOS scan, if you are not familiar w/ the process.
 

rad14733

Well-known member
VIP
As MerryDey referenced, the code for the two reversal scans would be what is posted below... I named the Study as Blown_Top and referenced it from within the scanner...

Ruby:
Blown_Top()."Saikou" is true

Ruby:
Blown_Top()."Hikui" is true

Just add whatever criteria you require... This is why we needed the Study code...
 

Cribbage

New member
Does anyone know where you can find the actual price action that these studies are tracking? I searched on the google and could only find links to this thread.
 

asragov

Member
2019 Donor
VIP
This indicator for ThinkorSwim will indicate a reversal in trend through two types of candles: Saikou / Hikui.
  • Saikou means reversal to the downside.
  • Hikui means reversal to the upside.

0YMotoJ.png


thinkScript Code

Rich (BB code):
# Blown Top (Reversal Candle)
# Mobius
# V01.02.2015 Shared Chat Room 01.16.2016

input n = 10;
input n2 = 5;

def o = open;
def h = high;
def l = low;
def c = close;
def RelRange = (close - Lowest(low, n)) /
    (highest(high, n) - lowest(low, n)) > .8;
def Range = High - Low;
def hR = Range == GetValue(Range, GetMaxValueOffset(range, n), n);
def hh = high == GetValue(high, GetMaxValueOffset(high, n), n);
def bodyTop = Max(close, open);
def BlownTop = (high - bodyTop) > .75 * Average(BodyHeight(), n);
plot HighRB = RelRange and hR and hh and BlownTop and Low < Low[1] and close < open;
     HighRB.SetPaintingStrategy(PaintingStrategy.Boolean_Arrow_Down);
     HighRB.SetLineWeight(2);
     HighRB.SetDefaultColor(Color.Plum);
AddChartBubble(HighRB, High + (TickSize() * 4), "BlownTop", Color.Gray, yes);

# Saikou / Hikui Candles that indicate a reveresal in trend
# Candle Pattern originated by Mobius
#Saikou (Supreme Candle)   Hikui (low/humble Candle)
# V01.2014

plot Saikou = h == GetValue(h, GetMaxValueOffset(h, n2), n2) and
              c < c[2] and
              isLongBlack() and
              BodyHeight() > Average(BodyHeight(), n2) and
              l <= getValue(l, GetMaxValueOffset(l, n2), n2);
     Saikou.SetPaintingStrategy(PaintingStrategy.Boolean_Arrow_Down);
     Saikou.SetLineWeight(3);
     Saikou.SetDefaultColor(Color.Plum);
AddChartBubble(Saikou, High + (TickSize() * 4), "Saikou", Color.Gray, yes);
plot Hikui = l == GetValue(l, GetMinValueOffset(l, n2), n2) and
             c > c[2] and
             BodyHeight() > Average(BodyHeight(), n2) and
             h > h[1];
     Hikui.SetPaintingStrategy(PaintingStrategy.Boolean_Arrow_Up);
     Hikui.SetLineWeight(3);
     Hikui.SetDefaultColor(Color.White);
AddChartBubble(Hikui, low - (TickSize() * 10), "Hikui", Color.Gray, no);
# End Reversal Candles

Shareable Link

https://tos.mx/Setf03
Thanks so much for that, Ben. A quick follow up question - do you see a way to efficiently look for blow-off bottoms, to look at the opposite of the HighRB? I tried fiddling around with it a bit (i.e. making a variable LowRB with the opposite characteristics) but didn't get any results - thanks again
 

stone

Member
@pegasis Are you having difficulty scanning for one of the reversal candles? A scan for the Hiku reversal showed 8 results.

dKWE6o4.png

Google has 70,000 video results for setting up a TOS scan, if you are not familiar w/ the process.
Hell
@pegasis Are you having difficulty scanning for one of the reversal candles? A scan for the Hiku reversal showed 8 results.

dKWE6o4.png

Google has 70,000 video results for setting up a TOS scan, if you are not familiar w/ the process.
Hi, My first questions is: I found this reversal indicator https://tos.mx/EaWyllf here on this site not too long ago, it may be Ben's but I'm not sure, I cannot find the original post I took it from. I'm just now testing it in TOS on demand. I like it using a 5 min chart. I was wondering if a Scan or even better an Alert....can be created from it? My second question is...I have used TTM ScalperAlert on TOS and like that as well. I tried to set alerts on a specific WL but I never get notified of pivot high or low is true on the watchlist I chose, I only set an alert for one or another not both at the same time. I don't know why i never get alerted though I see it has made the reversal. I thought maybe you would know???
 

rad14733

Well-known member
VIP
@stone Do you have a link to the topic or post here in the forums so members don't have to import your Study, which many may already have, in order to know what you are referring to...??? I'm guessing Trend Reversal Indicator with Signals... An indicator notorious for repainting that always tests too good to be true... Am I correct...???
 

Similar threads

Top