Reversal Candles (Saikou / Hikui) Trend Change for ThinkorSwim

BenTen

BenTen

Administrative
Staff
VIP
Warehouse
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.



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

http://tos.mx/Setf03
 
Last edited:
Shinthus

Shinthus

Member
VIP
What does "blown top" mean? Is that a higher probability of incoming downside?
 
R

RPrado

Member
Warehouse
@Shinthus here is an example of reversal, and I did had the trend lines plotted prior to installing @BenTen script. I really like it.

 
T

tomsk

Well-known member
VIP
Warehouse
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

 
Last edited:
BenTen

BenTen

Administrative
Staff
VIP
Warehouse
@tomsk Thank you for pointing that out. It is indeed rare.
 
T

tomsk

Well-known member
VIP
Warehouse
@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.
 
D

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

BenTen

Administrative
Staff
VIP
Warehouse
@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);
 

Top