Rob Smith's The STRAT Indicator for ThinkorSwim

Pelonsax

Pelonsax

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Is there a way to turn the candle colors off. or get them back to standard red green?

Thanks
In the settings page there is an option that says Use RedGreen and another that says Use TrendMagic. set it to yes on the first and no on the second to see the red/green color scheme, and no on both to make the candles gray (except for the reversals)
 
Pelonsax

Pelonsax

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I don't understand what you mean? The colors? The bubbles? Could you be more specific?
 
T

Timeless

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I don't understand what you mean? The colors? The bubbles? Could you be more specific?
He means like turning the color off the candle that you set with the candle example when there's a 2 UP, but the candle itself is red, on your setup it will show GREEN even though the candle ended red. Yours shows green because its a 2 UP. Same for 2Down, it will show RED even if the candle ended green but because its a 2D it will be red. Then the purple/magenta on the signal down candles and the aqua on the up candles. He's asking if you can turn off the those extra colors. Like just show numbers without candle colors changing too.

He basically wants standard red/green candlesticks with just numbers without the indicator changing the colors as I explained above.
 
Pelonsax

Pelonsax

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He means like turning the color off the candle that you set with the candle example when there's a 2 UP, but the candle itself is red, on your setup it will show GREEN even though the candle ended red. Yours shows green because its a 2 UP. Same for 2Down, it will show RED even if the candle ended green but because its a 2D it will be red. Then the purple/magenta on the signal down candles and the aqua on the up candles. He's asking if you can turn off the those extra colors. Like just show numbers without candle colors changing too.

He basically wants standard red/green candlesticks with just numbers without the indicator changing the colors as I explained above.
I can but that basically defeats the whole purpose of the study. If all you want is the strat numbers under each candle, there's already a plethora of studies that do that floating around facebook and twitter. I think there's even one here.
 
T

Timeless

New member
I can but that basically defeats the whole purpose of the study. If all you want is the strat numbers under each candle, there's already a plethora of studies that do that floating around facebook and twitter. I think there's even one here.
Yeah but they don't have arrows or labels as yours. Speaking of which, I don't think I ever see arrows for 3-1-2. Or a revstrat which is a 1, 2d, 2u vice versa for bear - do you think we can get this added or alert for it?
 
Pelonsax

Pelonsax

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Yeah but they don't have arrows or labels as yours. Speaking of which, I don't think I ever see arrows for 3-1-2. Or a revstrat which is a 1, 2d, 2u vice versa for bear - do you think we can get this added or alert for it?
Yeah, I'm going to start adding those just as soon as I find a really good resource that has them all defined. As it stands now, my studies only include the four basic reversals he describes in the interview with Steve Burns. Do you know of a resource that defines the rev strats
 
Prison Mike

Prison Mike

Member
I haven’t really ever seen any “rules.” A lot of his videos sound the same. Think Sara Strat sniper is doing a live soon. May get answers from there.

I did see Rob or Sara explain what rev Strat is in a tweet recently. Can’t find it. If I’m right I think it’s a broading formation when price goes back through range a previous range. So this can look like a 3-2d-2u, or 1-3. Think some outside of the Strat world may call this “stop loss hunting”
 
L

Lees

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Where can I find the tos script link for version 2.1?
 
Pelonsax

Pelonsax

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Where can I find the tos script link for version 2.1?
It's probably gone bro, because I've been making changes to the same study over and over again. What did you want from that version? I'll try and see if I can make it happen
 
Pelonsax

Pelonsax

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okay I think I know what you want. in the code, go to the section for candle color. down at the bottom where it says:

else color.gray

change that to:

else color.current

Once you've done that, make sure that both Use_TrendMagic and Use_Red_Green are set to "no." That should make the candles their original color
 
Prison Mike

Prison Mike

Member
@Pelonsax major shout out to you for all your hard work and time you have put into this script.
 
T

Timeless

New member
Yeah, I'm going to start adding those just as soon as I find a really good resource that has them all defined. As it stands now, my studies only include the four basic reversals he describes in the interview with Steve Burns. Do you know of a resource that defines the rev strats
True thanks for your help and constant helping. So from searching twitte #TheStrat posts with RevStrat are usually for example a BUY trade 1-2d-2u
basically from when I asked someone called stratdog on twitter he explains revstrat as a reversal strat that happens when something fails like a 3-1-2d failed so it made a 1-2d-2up or a failed 2u-1-2d then revstrat would be the 1-2d-2u that came after the failed 2-1-2 hope that made sense....

I can explain more if you need. It's basically a reversal from original pattern
 
L

Lees

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It's probably gone bro, because I've been making changes to the same study over and over again. What did you want from that version? I'll try and see if I can make it happen
The red/green bubble with 2d-2u or 2d-1-2u as you shared the screen shot in second page of this discussion.
 
Pelonsax

Pelonsax

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The red/green bubble with 2d-2u or 2d-1-2u as you shared the screen shot in second page of this discussion.
The bubbles are still there. You have to go in the settings and select "yes" for show bubbles
 
Pelonsax

Pelonsax

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Thanks for your support and encouragement guys! I'll keep at it!
 
P

pandybear

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This indicator seems to focus on day trading? Am I right? How can I use this for swing trade?
 
T

Timeless

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I often see Rob Smith talk about Shooting Stars and Hammers, I found a code that adds that to watch list columns, so if you know how to trade the revstrats, 1-2d-2u for BUYS (or 1-2u-2d for sells) then you want the middle number to be a hammer for BUYS and shooting stars for the sells.

This code will help you see the Hammer and Shooting Stars next to the number on your watchlist. Feel free to change and edit this how you like, found it. It's not mine, thanks to whoever made it :)

Edit: Forgot to ask, is there a way you can create a scanner for this? To scan for like example on watchlist columns it often puts 2d/H tell you there's a hammer, can you make this into a scan code to scan for 2d candles that are hammers for example?

Code:
#TheStrat Scenarios relative to previous candle displayed as 1, 2u, 2d, or 3

#Current Bar Hammers and Shooters

#Closing price relative to opening price of current candle displayed as green, yellow, or red.

# RANGES #
def fullRange = high - low;
def closedRange = ((close - low) / fullRange);
def openedRange = ((open - low) / fullRange);
def bodyRange = (AbsValue(open - close)) / fullRange;
def highRange = (high - Max(open, close)) / fullRange;
def lowRange = (Min(open, close) - low) / fullRange;
def minLow = Min(closedRange, OpenedRange);
def maxHigh = Max(closedRange, OpenedRange);

# HAMMERS #
def softHammer = maxHigh > 0.75 and minLow > 0.55 and highRange < bodyRange;
def hardHammer = minLow > 0.66 and highRange <= 0.17 ;
def Hammer = hardHammer or softHammer;

# SHOOTING STARS #
def softShooter = minLow < 0.25 and maxHigh < 0.45 and lowrange < bodyRange;
def hardShooter = maxHigh < 0.34 and lowRange <= 0.17;
def Shooter = hardShooter or softShooter;

#Display Candle Type
plot CandleType;
if high[0]>high[1] and low[0]<low[1] then {CandleType = 3;} #outisde bar
else if high[0]<high[1] and low[0]>low[1] then {CandleType = 1;} #inside bar
else if high[0]>high[1] and low[0]>low[1] then {CandleType = 2;} #2-up
else {CandleType = 4;} #2-down

#Display Candle Direction
plot CandleDirection;
if close[0]>open[0] then {CandleDirection = 1;} #Price is rising, close>open
else if close[0]<open[0] then {CandleDirection = 2;} #Price is falling, close<open
else {CandleDirection = 3;} #No price movement, close=open

#Display Hammers/Shooters
plot CandleRange;
if Hammer then {CandleRange = 1;} #Hammer
else if Shooter then {CandleRange = 2;} #Shooter
else {CandleRange = 3;} #Neither Hammer or Shooter

#Display candle type, direction & range
addLabel(yes,
if CandleType == 3 then concat("3", if CandleRange==1 then "/H" else if CandleRange==2 then "/S" else "")
else if CandleType == 1 then concat("1", if CandleRange==1 then "/H" else if CandleRange==2 then "/S" else "")
else if CandleType == 2 then concat("2u", if CandleRange==1 then "/H" else if CandleRange==2 then "/S" else "")
else concat("2d", if CandleRange==1 then "/H" else if CandleRange==2 then "/S" else ""),

if CandleDirection == 2 then color.white
else if CandleDirection == 1 then color.black
else color.black);

assignBackgroundColor(
if CandleDirection == 1 then color.green
else if CandleDirection == 2 then color.red
else color.yellow);
 
Pelonsax

Pelonsax

Active member
VIP
I often see Rob Smith talk about Shooting Stars and Hammers, I found a code that adds that to watch list columns, so if you know how to trade the revstrats, 1-2d-2u for BUYS (or 1-2u-2d for sells) then you want the middle number to be a hammer for BUYS and shooting stars for the sells.

This code will help you see the Hammer and Shooting Stars next to the number on your watchlist. Feel free to change and edit this how you like, found it. It's not mine, thanks to whoever made it :)

Edit: Forgot to ask, is there a way you can create a scanner for this? To scan for like example on watchlist columns it often puts 2d/H tell you there's a hammer, can you make this into a scan code to scan for 2d candles that are hammers for example?

Code:
#TheStrat Scenarios relative to previous candle displayed as 1, 2u, 2d, or 3

#Current Bar Hammers and Shooters

#Closing price relative to opening price of current candle displayed as green, yellow, or red.

# RANGES #
def fullRange = high - low;
def closedRange = ((close - low) / fullRange);
def openedRange = ((open - low) / fullRange);
def bodyRange = (AbsValue(open - close)) / fullRange;
def highRange = (high - Max(open, close)) / fullRange;
def lowRange = (Min(open, close) - low) / fullRange;
def minLow = Min(closedRange, OpenedRange);
def maxHigh = Max(closedRange, OpenedRange);

# HAMMERS #
def softHammer = maxHigh > 0.75 and minLow > 0.55 and highRange < bodyRange;
def hardHammer = minLow > 0.66 and highRange <= 0.17 ;
def Hammer = hardHammer or softHammer;

# SHOOTING STARS #
def softShooter = minLow < 0.25 and maxHigh < 0.45 and lowrange < bodyRange;
def hardShooter = maxHigh < 0.34 and lowRange <= 0.17;
def Shooter = hardShooter or softShooter;

#Display Candle Type
plot CandleType;
if high[0]>high[1] and low[0]<low[1] then {CandleType = 3;} #outisde bar
else if high[0]<high[1] and low[0]>low[1] then {CandleType = 1;} #inside bar
else if high[0]>high[1] and low[0]>low[1] then {CandleType = 2;} #2-up
else {CandleType = 4;} #2-down

#Display Candle Direction
plot CandleDirection;
if close[0]>open[0] then {CandleDirection = 1;} #Price is rising, close>open
else if close[0]<open[0] then {CandleDirection = 2;} #Price is falling, close<open
else {CandleDirection = 3;} #No price movement, close=open

#Display Hammers/Shooters
plot CandleRange;
if Hammer then {CandleRange = 1;} #Hammer
else if Shooter then {CandleRange = 2;} #Shooter
else {CandleRange = 3;} #Neither Hammer or Shooter

#Display candle type, direction & range
addLabel(yes,
if CandleType == 3 then concat("3", if CandleRange==1 then "/H" else if CandleRange==2 then "/S" else "")
else if CandleType == 1 then concat("1", if CandleRange==1 then "/H" else if CandleRange==2 then "/S" else "")
else if CandleType == 2 then concat("2u", if CandleRange==1 then "/H" else if CandleRange==2 then "/S" else "")
else concat("2d", if CandleRange==1 then "/H" else if CandleRange==2 then "/S" else ""),

if CandleDirection == 2 then color.white
else if CandleDirection == 1 then color.black
else color.black);

assignBackgroundColor(
if CandleDirection == 1 then color.green
else if CandleDirection == 2 then color.red
else color.yellow);
That's BADASS BRO!!
 
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