Reversal Candles (Saikou / Hikui) Trend Change for ThinkorSwim

BenTen

BenTen

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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?
 

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