SimpleMovingAvg Retracement Watchlist Column for ThinkOrSwim

[Mr D]

Yet another momentum/retracement watchlist column. This one indicates the price distance relative to simple moving average.

###############################
# Retracement WL Column       #
# SimpleMovAvg Retracement    #
# Color codes:                #
# >  0.79: bright green       #
# < -0.79: bright red         #
# <  0.38: cyan               #
# > -0.38: magenta            #
# < 0: dark_red               #
# > 0: dark_green             #
###############################

input period=9;
def AS = MovingAverage(data = CLOSE,length=period)[1];
def ATR = ATR(period)[1];

plot rsi= (close-AS)/(ATR);
def up = rsi>0.79;
def dn = rsi<-0.79;
def ur = close[1]>AS and rsi<0.38;
def dr = close[1]<AS and rsi>-0.38;

rsi.assignValueColor( if dn or up or ur or dr then color.black else color.white);
assignbackgroundcolor(if up then color.green else if dn then color.red
else if ur then color.cyan else if dr then color.magenta
else if rsi>0 then color.dark_green else color.dark_red);

#######
# END #
#######

 

[JeffryBatista]

I like this concept but sometimes I would like to view other criteria on the watchlist section, I would love to see this as an addlabel in the future so it doesn't have to take up space on the watchlist. Seems like a good study for investing and swing trading. In conclusion though, great work.

 

[MerryDay]

I like this concept but sometimes I would like to view other criteria on the watchlist section, I would love to see this as an addlabel in the future so it doesn't have to take up space on the watchlist. Seems like a good study for investing and swing trading. In conclusion though, great work.

Here ya go:
https://usethinkscript.com/resources/thinkscript-addlabel-adding-custom-labels-to-your-chart.8/