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Can I just add,....When using Heiken,....when candles are trending higher they have no lower wicks, when trending lower they have upper wicks, when they come to a point where there is a change Doji's/Spinning tops form, multiples with uncertainty of direction change, none if the direction is quick change, that is what to look for. Make sure the trends are strong, easier to see any changes in Heiken candles.@thinky & @tenacity11 I don't remember which one of you asked me about using HA candles vs. standard Candles on my Slim Ribbon chart.
There was a question about potential lag. I have part of an answer from school.stockcharts.com :
###SLIM
#Mr Slim Miller at askSLIM dot com
#SlimRibbonCustom_markos9-7-18
input price300 = close;
input superfast_length = 8;
input fast_length = 13;
input slow_length = 21;
input displace300 = 0;
def mov_avg8 = ExpAverage(price300[-displace300], superfast_length);
def mov_avg13 = ExpAverage(price300[-displace300], fast_length);
def mov_avg21 = ExpAverage(price300[-displace300], slow_length);
#moving averages
def Superfast = mov_avg8;
def Fast = mov_avg13;
def Slow = mov_avg21;
def buy = mov_avg8 > mov_avg13 and mov_avg13 > mov_avg21 and low > mov_avg8;
def stopbuy = mov_avg8 <= mov_avg13;
def buynow = !buy[1] and buy;
def buysignal2 = CompoundValue(1, if buynow and !stopbuy then 1 else if buysignal2[1] == 1 and stopbuy then 0 else buysignal2[1], 0);
def sell = mov_avg8 < mov_avg13 and mov_avg13 < mov_avg21 and high < mov_avg8;
def stopsell = mov_avg8 >= mov_avg13;
def sellnow = !sell[1] and sell;
def sellsignal2 = CompoundValue(1, if sellnow and !stopsell then 1 else if sellsignal2[1] == 1 and stopsell then 0 else sellsignal2[1], 0);
plot Colorbars = if buysignal2 ==1 then 1 else if sellsignal2 ==1 then 2 else if buysignal2 ==0 or sellsignal2==0 then 3 else 0;
colorbars.hide();
Colorbars.definecolor("Buy_Signal_Bars", color.Green);
Colorbars.definecolor("Sell_Signal_Bars", color.red);
Colorbars.definecolor("Neutral", color.gray);
AddLabel(yes, if Colorbars ==1 then "SLIM:Up" else "SLIM:Down",
if Colorbars ==2 then Color.RED else Color.GREEN);###SLIM
#Mr Slim Miller at askSLIM dot com
#SlimRibbonCustom_markos9-7-18
input price300 = close;
input superfast_length = 8;
input fast_length = 13;
input slow_length = 21;
input displace300 = 0;
def mov_avg8 = ExpAverage(price300[-displace300], superfast_length);
def mov_avg13 = ExpAverage(price300[-displace300], fast_length);
def mov_avg21 = ExpAverage(price300[-displace300], slow_length);
#moving averages
def Superfast = mov_avg8;
def Fast = mov_avg13;
def Slow = mov_avg21;
def buy = mov_avg8 > mov_avg13 and mov_avg13 > mov_avg21 and low > mov_avg8;
def stopbuy = mov_avg8 <= mov_avg13;
def buynow = !buy[1] and buy;
def buysignal2 = CompoundValue(1, if buynow and !stopbuy then 1 else if buysignal2[1] == 1 and stopbuy then 0 else buysignal2[1], 0);
def sell = mov_avg8 < mov_avg13 and mov_avg13 < mov_avg21 and high < mov_avg8;
def stopsell = mov_avg8 >= mov_avg13;
def sellnow = !sell[1] and sell;
def sellsignal2 = CompoundValue(1, if sellnow and !stopsell then 1 else if sellsignal2[1] == 1 and stopsell then 0 else sellsignal2[1], 0);
plot Colorbars = if buysignal2 == 1 then 1
else if sellsignal2 == 1 then 2
else if buysignal2 == 0 or sellsignal2 == 0 then 3
else 0;
colorbars.hide();
Colorbars.definecolor("Buy_Signal_Bars", color.Green);
Colorbars.definecolor("Sell_Signal_Bars", color.red);
Colorbars.definecolor("Neutral", color.gray);
AddLabel(yes,
if Colorbars == 1 then "SLIM:Up" else if Colorbars == 2 then "SLIM:Down" else "SLIM:Neutral",
if Colorbars == 1 then Colorbars.Color("Buy_Signal_Bars")
else if Colorbars == 2 then Colorbars.Color("Sell_Signal_Bars")
else Colorbars.Color("Neutral")
);
See post above yours.
Is there a scanner that shows where all the lines cross for a bearish momentum. The current scanner just shows an ongoing trend. Not when it starts.
Copy script: https://usethinkscript.com/threads/slim-ribbon-indicator-for-thinkorswim.245/page-6#post-21700
plot momo_down = SCANNER_MOMENTUM_DOWN;The SlimRibbon strategy found here: https://usethinkscript.com/threads/slim-ribbon-indicator-for-thinkorswim.245/page-5#post-16433
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