Squeeze Play Strategy For ThinkOrSwim

G

Gavstah

New member
Squeeze Play Strategy For ThinkOrSwim
Hi All -

My first attempt at Thinkscript - feedback very much welcomed. This very basic indicator is based on four criteria laid out by Tylor Horton of Focused Trades (now with Simpler Trading folks) that he uses for his method of trading squeeze setups. This provides a bright green label that will show up on the top of the chart when the ticker has met the following conditions:

1) is momentum > 0 and on an upward trend on the TTM_Squeeze() histogram?
2) Has the price closed over the 21 EMA?
3) Are EMAs (8,21,34,55 and 89) stacked in acsending order ("The Royal Setup")?
4) Is this ticker in a TTM_squeeze (true if squeezealert has not fired)?

Code: 
#Squeeze Play Strategy For ThinkOrSwim
#@Gavstah 10/2021
#Hint: SqueezePlay - stacked EMAs (8,21,34,55,89), Upward momentum on TTM_Squeeze, in a squeeze, and price over the 21 EMA

input price = close;

# define the EMAs
def ema8  = ExpAverage(price, 8);
def ema21 = ExpAverage(price, 21);
def ema34 = ExpAverage(price, 34);
def ema55 = ExpAverage(price, 55);
def ema89 = ExpAverage(price, 89);

# plot the EMAs
plot EMA8_ = ExpAverage(price, 8);
plot EMA21_ = ExpAverage(price, 21);
plot EMA34_ = ExpAverage (price, 34);
plot EMA55_ = ExpAverage (price, 55);
plot EMA89_ = ExpAverage (price, 89);

# is the price in the buy zone?
def buyZone = price < EMA8 AND price > EMA21;

# now, let's see what we have

# 1) is momentum > 0 and on an upward trend on then TTM_Squeeze() histogram?
def bullMomentum = TTM_Squeeze().Histogram > 0 && TTM_Squeeze().Histogram > TTM_Squeeze().Histogram[1];

# 2) Has the price closed over the 21 EMA?
def closeOver21 = price > EMA21_;

# 3) Are EMAs stacked in acsending order ("The Royal Setup")?
def stackedEMAS =  EMA8_ > EMA21_ AND EMA21_ > EMA34_ AND EMA34 > EMA55_ AND EMA55_ > EMA89;

# 4) are we in a TTM_squeeze (true if squeezealert has not fired)?
def squeeze = !TTM_Squeeze().SqueezeAlert;

# do we have a squeeze play?
def squeezePlay = squeeze && stackedEMAS && bullMomentum && closeOver21;

# set the stacked label
AddLabel(price, ”Stacked EMAs” , (if stackedEMAS then Color.GREEN else Color.RED));

# set Squeeze Play label if we're in a squeeze play.
AddLabel(if squeezePlay then yes else no, " Squeeze Play ", Color.GREEN);

# Add buy zone label if we're in the buy zone
AddLabel(if buyZone then yes else no, "BUY ZONE", Color.GREEN);

TS can be access here: http://tos.mx/0fhkJir
Also available as a Github Gist
 
Last edited by a moderator:

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

SIGN UP NOW LEARN MORE
Gavstah said:
Squeeze Play Strategy For ThinkOrSwim
Hi All -

My first attempt at Thinkscript - feedback very much welcomed. This very basic indicator is based on four criteria laid out by Tylor Horton of Focused Trades (now with Simpler Trading folks) that he uses for his method of trading squeeze setups. This provides a bright green label that will show up on the top of the chart when the ticker has met the following conditions:

1) is momentum > 0 and on an upward trend on the TTM_Squeeze() histogram?
2) Has the price closed over the 21 EMA?
3) Are EMAs (8,21,34,55 and 89) stacked in acsending order ("The Royal Setup")?
4) Is this ticker in a TTM_squeeze (true if squeezealert has not fired)?

Code: 
#Hint: SqueezePlay - stacked EMAs (8,21,34,55,89), Upward momentum on TTM_Squeeze, in a squeeze, and price over the 21 EMA

input price = close;

# define the EMAs
def ema8  = ExpAverage(price, 8);
def ema21 = ExpAverage(price, 21);
def ema34 = ExpAverage(price, 34);
def ema55 = ExpAverage(price, 55);
def ema89 = ExpAverage(price, 89);

# plot the EMAs
plot EMA8_ = ExpAverage(price, 8);
plot EMA21_ = ExpAverage(price, 21);
plot EMA34_ = ExpAverage (price, 34);
plot EMA55_ = ExpAverage (price, 55);
plot EMA89_ = ExpAverage (price, 89);

# is the price in the buy zone?
def buyZone = price < EMA8 AND price > EMA21;

# now, let's see what we have

# 1) is momentum > 0 and on an upward trend on then TTM_Squeeze() histogram?
def bullMomentum = TTM_Squeeze().Histogram > 0 && TTM_Squeeze().Histogram > TTM_Squeeze().Histogram[1];

# 2) Has the price closed over the 21 EMA?
def closeOver21 = price > EMA21_;

# 3) Are EMAs stacked in acsending order ("The Royal Setup")?
def stackedEMAS =  EMA8_ > EMA21_ AND EMA21_ > EMA34_ AND EMA34 > EMA55_ AND EMA55_ > EMA89;

# 4) are we in a TTM_squeeze (true if squeezealert has not fired)?
def squeeze = !TTM_Squeeze().SqueezeAlert;

# do we have a squeeze play?
def squeezePlay = squeeze && stackedEMAS && bullMomentum && closeOver21;

# set the stacked label
AddLabel(price, ”Stacked EMAs” , (if stackedEMAS then Color.GREEN else Color.RED));

# set clean squeeze label if we're in a clean squeeze
AddLabel(if squeezePlay then yes else no, " Squeeze Play ", Color.GREEN);

# Add buy zone label if we're in the buy zone
AddLabel(if buyZone then yes else no, "BUY ZONE", Color.GREEN);

TS can be access here: http://tos.mx/0fhkJir
Also available as a Github Gist
Click to expand...
This is a cool label system; is there a way you can scan for the 3 labels? or all 3 at once? what do u suggest?
 
jtrain252 said:
so do u want Squeeze play label, Buy zone label and STacked label all to be green
in order to buy?
Click to expand...
Per Taylor Horton's rules, when these all line up, and the market and sector are looking bullish, this is a good indication that this could be worth looking at for a trade. If any of these criteria are not met, he passes on the trade.
 
Very cool indicator. I added some code to also alert for the down moves as well as the up moves.

#Squeeze Play Strategy For ThinkOrSwim
#@Gavstah 10/2021
#Hint: SqueezePlay - stacked EMAs (8,21,34,55,89), Upward momentum on TTM_Squeeze, in a squeeze, and price over the 21 EMA

input price = close;

# define the EMAs
def ema8 = ExpAverage(price, 8);
def ema21 = ExpAverage(price, 21);
def ema34 = ExpAverage(price, 34);
def ema55 = ExpAverage(price, 55);
def ema89 = ExpAverage(price, 89);

# plot the EMAs
plot EMA8_ = ExpAverage(price, 8);
plot EMA21_ = ExpAverage(price, 21);
plot EMA34_ = ExpAverage (price, 34);
plot EMA55_ = ExpAverage (price, 55);
plot EMA89_ = ExpAverage (price, 89);

# is the price in the buy zone?
def buyZone = price < ema8 and price > ema21;
def sellZone = price > ema8 and price < ema21;
# now, let's see what we have

# 1) is momentum > 0 and on an upward trend on then TTM_Squeeze() histogram?
def bullMomentum = TTM_Squeeze().Histogram > 0 && TTM_Squeeze().Histogram > TTM_Squeeze().Histogram[1];
def bearMomentum = TTM_Squeeze().Histogram < 0 && TTM_Squeeze().Histogram < TTM_Squeeze().Histogram[1];

# 2) Has the price closed over the 21 EMA?
def bullcloseOver21 = price > EMA21_;
def bearcloseOver21 = price < EMA21_;

# 3) Are EMAs stacked in acsending order ("The Royal Setup")?
def bullstackedEMAS = EMA8_ > EMA21_ and EMA21_ > EMA34_ and ema34 > EMA55_ and EMA55_ > ema89;
def bearstackedEMAS = EMA8_ < EMA21_ and EMA21_ < EMA34_ and ema34 < EMA55_ and EMA55_ < ema89;

# 4) are we in a TTM_squeeze (true if squeezealert has not fired)?
def squeeze = !TTM_Squeeze().SqueezeAlert;

# do we have a squeeze play?
def bullsqueezePlay = squeeze && bullstackedEMAS && bullMomentum && bullcloseOver21;
def bearsqueezePlay = squeeze && bearstackedEMAS && bearMomentum && bearcloseOver21;

# set the stacked label
# AddLabel(price, ”Bull Stacked EMAs” , (if bullstackedEMAS then Color.GREEN else Color.YELLOW));
AddLabel(if bullstackedEMAS then yes else no, ”Bull Stacked EMAs”, Color.GREEN);
# AddLabel(price, ”Bear Stacked EMAs” , (if bearstackedEMAS then Color.RED else Color.YELLOW));
AddLabel(if bearstackedEMAS then yes else no, ”Bear Stacked EMAs”, Color.RED);


# set Squeeze Play label if we're in a squeeze play.
AddLabel(if bullsqueezePlay then yes else no, " Squeeze Play ", Color.GREEN);
AddLabel(if bearsqueezePlay then yes else no, " Squeeze Play ", Color.RED);

# Add buy zone label if we're in the buy zone
AddLabel(if buyZone then yes else no, "BUY ZONE", Color.GREEN);
AddLabel(if sellZone then yes else no, "BUY ZONE", Color.RED);

# End
 
Investingtogive said:
Very cool indicator. I added some code to also alert for the down moves as well as the up moves.

#Squeeze Play Strategy For ThinkOrSwim
#@Gavstah 10/2021
#Hint: SqueezePlay - stacked EMAs (8,21,34,55,89), Upward momentum on TTM_Squeeze, in a squeeze, and price over the 21 EMA

input price = close;

# define the EMAs
def ema8 = ExpAverage(price, 8);
def ema21 = ExpAverage(price, 21);
def ema34 = ExpAverage(price, 34);
def ema55 = ExpAverage(price, 55);
def ema89 = ExpAverage(price, 89);

# plot the EMAs
plot EMA8_ = ExpAverage(price, 8);
plot EMA21_ = ExpAverage(price, 21);
plot EMA34_ = ExpAverage (price, 34);
plot EMA55_ = ExpAverage (price, 55);
plot EMA89_ = ExpAverage (price, 89);

# is the price in the buy zone?
def buyZone = price < ema8 and price > ema21;
def sellZone = price > ema8 and price < ema21;
# now, let's see what we have

# 1) is momentum > 0 and on an upward trend on then TTM_Squeeze() histogram?
def bullMomentum = TTM_Squeeze().Histogram > 0 && TTM_Squeeze().Histogram > TTM_Squeeze().Histogram[1];
def bearMomentum = TTM_Squeeze().Histogram < 0 && TTM_Squeeze().Histogram < TTM_Squeeze().Histogram[1];
# 2) Has the price closed over the 21 EMA?
def bullcloseOver21 = price > EMA21_;
def bearcloseOver21 = price < EMA21_;

# 3) Are EMAs stacked in acsending order ("The Royal Setup")?
def bullstackedEMAS = EMA8_ > EMA21_ and EMA21_ > EMA34_ and ema34 > EMA55_ and EMA55_ > ema89;
def bearstackedEMAS = EMA8_ < EMA21_ and EMA21_ < EMA34_ and ema34 < EMA55_ and EMA55_ < ema89;

# 4) are we in a TTM_squeeze (true if squeezealert has not fired)?
def squeeze = !TTM_Squeeze().SqueezeAlert;

# do we have a squeeze play?
def bullsqueezePlay = squeeze && bullstackedEMAS && bullMomentum && bullcloseOver21;
def bearsqueezePlay = squeeze && bearstackedEMAS && bearMomentum && bearcloseOver21;

# set the stacked label
# AddLabel(price, ”Bull Stacked EMAs” , (if bullstackedEMAS then Color.GREEN else Color.YELLOW));
AddLabel(if bullstackedEMAS then yes else no, ”Bull Stacked EMAs”, Color.GREEN);
# AddLabel(price, ”Bear Stacked EMAs” , (if bearstackedEMAS then Color.RED else Color.YELLOW));
AddLabel(if bearstackedEMAS then yes else no, ”Bear Stacked EMAs”, Color.RED);


# set Squeeze Play label if we're in a squeeze play.
AddLabel(if bullsqueezePlay then yes else no, " Squeeze Play ", Color.GREEN);
AddLabel(if bearsqueezePlay then yes else no, " Squeeze Play ", Color.RED);

# Add buy zone label if we're in the buy zone
AddLabel(if buyZone then yes else no, "BUY ZONE", Color.GREEN);
AddLabel(if sellZone then yes else no, "BUY ZONE", Color.RED);

# End
Click to expand...
Nice!
 
Gavstah said:
Squeeze Play Strategy For ThinkOrSwim
Hi All -

My first attempt at Thinkscript - feedback very much welcomed. This very basic indicator is based on four criteria laid out by Tylor Horton of Focused Trades (now with Simpler Trading folks) that he uses for his method of trading squeeze setups. This provides a bright green label that will show up on the top of the chart when the ticker has met the following conditions:

1) is momentum > 0 and on an upward trend on the TTM_Squeeze() histogram?
2) Has the price closed over the 21 EMA?
3) Are EMAs (8,21,34,55 and 89) stacked in acsending order ("The Royal Setup")?
4) Is this ticker in a TTM_squeeze (true if squeezealert has not fired)?

Code: 
#Squeeze Play Strategy For ThinkOrSwim
#@Gavstah 10/2021
#Hint: SqueezePlay - stacked EMAs (8,21,34,55,89), Upward momentum on TTM_Squeeze, in a squeeze, and price over the 21 EMA

input price = close;

# define the EMAs
def ema8  = ExpAverage(price, 8);
def ema21 = ExpAverage(price, 21);
def ema34 = ExpAverage(price, 34);
def ema55 = ExpAverage(price, 55);
def ema89 = ExpAverage(price, 89);

# plot the EMAs
plot EMA8_ = ExpAverage(price, 8);
plot EMA21_ = ExpAverage(price, 21);
plot EMA34_ = ExpAverage (price, 34);
plot EMA55_ = ExpAverage (price, 55);
plot EMA89_ = ExpAverage (price, 89);

# is the price in the buy zone?
def buyZone = price < EMA8 AND price > EMA21;

# now, let's see what we have

# 1) is momentum > 0 and on an upward trend on then TTM_Squeeze() histogram?
def bullMomentum = TTM_Squeeze().Histogram > 0 && TTM_Squeeze().Histogram > TTM_Squeeze().Histogram[1];

# 2) Has the price closed over the 21 EMA?
def closeOver21 = price > EMA21_;

# 3) Are EMAs stacked in acsending order ("The Royal Setup")?
def stackedEMAS =  EMA8_ > EMA21_ AND EMA21_ > EMA34_ AND EMA34 > EMA55_ AND EMA55_ > EMA89;

# 4) are we in a TTM_squeeze (true if squeezealert has not fired)?
def squeeze = !TTM_Squeeze().SqueezeAlert;

# do we have a squeeze play?
def squeezePlay = squeeze && stackedEMAS && bullMomentum && closeOver21;

# set the stacked label
AddLabel(price, ”Stacked EMAs” , (if stackedEMAS then Color.GREEN else Color.RED));

# set Squeeze Play label if we're in a squeeze play.
AddLabel(if squeezePlay then yes else no, " Squeeze Play ", Color.GREEN);

# Add buy zone label if we're in the buy zone
AddLabel(if buyZone then yes else no, "BUY ZONE", Color.GREEN);

TS can be access here: http://tos.mx/0fhkJir
Also available as a Github Gist
Click to expand...
I’ve been using this for the last week and love it.
It goes extremely well with another indicator I got on here that shows movement. For example yesterday morning phun has buy zone on daily, it was slow all day and then went up from 3.23 to 5.15ish. Today same, had buy and it went up.
Sometimes on the different timeframes on intraday it will have different labels at once but I focus on the 15 min and up charts…You def have something here and I look forward to you making more !! Great job !!
 
Investingtogive said:
Very cool indicator. I added some code to also alert for the down moves as well as the up moves.

#Squeeze Play Strategy For ThinkOrSwim
#@Gavstah 10/2021
#Hint: SqueezePlay - stacked EMAs (8,21,34,55,89), Upward momentum on TTM_Squeeze, in a squeeze, and price over the 21 EMA

input price = close;

# define the EMAs
def ema8 = ExpAverage(price, 8);
def ema21 = ExpAverage(price, 21);
def ema34 = ExpAverage(price, 34);
def ema55 = ExpAverage(price, 55);
def ema89 = ExpAverage(price, 89);

# plot the EMAs
plot EMA8_ = ExpAverage(price, 8);
plot EMA21_ = ExpAverage(price, 21);
plot EMA34_ = ExpAverage (price, 34);
plot EMA55_ = ExpAverage (price, 55);
plot EMA89_ = ExpAverage (price, 89);

# is the price in the buy zone?
def buyZone = price < ema8 and price > ema21;
def sellZone = price > ema8 and price < ema21;
# now, let's see what we have

# 1) is momentum > 0 and on an upward trend on then TTM_Squeeze() histogram?
def bullMomentum = TTM_Squeeze().Histogram > 0 && TTM_Squeeze().Histogram > TTM_Squeeze().Histogram[1];
def bearMomentum = TTM_Squeeze().Histogram < 0 && TTM_Squeeze().Histogram < TTM_Squeeze().Histogram[1];

# 2) Has the price closed over the 21 EMA?
def bullcloseOver21 = price > EMA21_;
def bearcloseOver21 = price < EMA21_;

# 3) Are EMAs stacked in acsending order ("The Royal Setup")?
def bullstackedEMAS = EMA8_ > EMA21_ and EMA21_ > EMA34_ and ema34 > EMA55_ and EMA55_ > ema89;
def bearstackedEMAS = EMA8_ < EMA21_ and EMA21_ < EMA34_ and ema34 < EMA55_ and EMA55_ < ema89;

# 4) are we in a TTM_squeeze (true if squeezealert has not fired)?
def squeeze = !TTM_Squeeze().SqueezeAlert;

# do we have a squeeze play?
def bullsqueezePlay = squeeze && bullstackedEMAS && bullMomentum && bullcloseOver21;
def bearsqueezePlay = squeeze && bearstackedEMAS && bearMomentum && bearcloseOver21;

# set the stacked label
# AddLabel(price, ”Bull Stacked EMAs” , (if bullstackedEMAS then Color.GREEN else Color.YELLOW));
AddLabel(if bullstackedEMAS then yes else no, ”Bull Stacked EMAs”, Color.GREEN);
# AddLabel(price, ”Bear Stacked EMAs” , (if bearstackedEMAS then Color.RED else Color.YELLOW));
AddLabel(if bearstackedEMAS then yes else no, ”Bear Stacked EMAs”, Color.RED);


# set Squeeze Play label if we're in a squeeze play.
AddLabel(if bullsqueezePlay then yes else no, " Squeeze Play ", Color.GREEN);
AddLabel(if bearsqueezePlay then yes else no, " Squeeze Play ", Color.RED);

# Add buy zone label if we're in the buy zone
AddLabel(if buyZone then yes else no, "BUY ZONE", Color.GREEN);
AddLabel(if sellZone then yes else no, "BUY ZONE", Color.RED);

# End
Click to expand...
I added the strategy and was wanting to know if there are any labels that I need to enable to notify all 3 signals are firing?
https://imgur.com/a/kjrh2bZ
 
Let the Bulls Run said:
Gotcha. SO just to be clear you are defining your entry based off when you get the "Bull Stacked EMA's" green label?
https://imgur.com/a/VSHJury
Click to expand...
This is just part of the entry decision - also want to look at the market & sector and to see if they all line up in the same direction. AND you want to get in when price is close to the 21 EMA, or at the very least under 1 ATR. The goal is to have as many things stacked in your favor as possible.
 
I added a Lower Study that shows all of the criteria including the Squeeze Play. The study plots 5 lines.
  • The 1st Line with a space under it is the overall Squeeze Play. Green Dots = Bull, Red Dots = Bear and Yellow Dots = No Play.
  • The 2nd Line is the TTM Squeeze. Green Dots = Squeeze and Yellow Dots = No Squeeze.
  • The 3rd Line is the Stacked EMAs. Green Dots = EMAs Stacked Upward (Bullish) and Red Dots = EMAs Stacked Downward (Bearish) and the Yellow Dots = No EMAs Stacked.
  • The 4th Line is the TTM Momentum (MO). Green Dots = Bullish MO and Red Dots = Bearish MO and Yellow Dots = No MO.
  • The 5th Line is the Close Over/Under 21. Green Dots = Close Over 21 and Red Dots = Close Under 21
I like this for back testing and analyzing trades and setups. Please let me know your thoughts.
a1.png

Here is the code:
Ruby: 
#Squeeze Play Strategy For ThinkOrSwim
#@Gavstah 10/2021
#@InvestingtoGive added Lower Level 11/4/2021
#Hint: SqueezePlay - stacked EMAs (8,21,34,55,89), Upward momentum on TTM_Squeeze, in a squeeze, and price over the 21 EMA

declare lower;

input price = close;

# define the EMAs
def ema8 = ExpAverage(price, 8);
def ema21 = ExpAverage(price, 21);
def ema34 = ExpAverage(price, 34);
def ema55 = ExpAverage(price, 55);
def ema89 = ExpAverage(price, 89);

# define the EMAs
def EMA8_ = ExpAverage(price, 8);
def EMA21_ = ExpAverage(price, 21);
def EMA34_ = ExpAverage (price, 34);
def EMA55_ = ExpAverage (price, 55);
def EMA89_ = ExpAverage (price, 89);

# is the price in the buy zone?
def buyZone = price < ema8 and price > ema21;
def sellZone = price > ema8 and price < ema21;
# now, let's see what we have

# 1) is momentum > 0 and on an upward trend on then TTM_Squeeze() histogram?
def bullMomentum = TTM_Squeeze().Histogram > 0 && TTM_Squeeze().Histogram > TTM_Squeeze().Histogram[1];
def bearMomentum = TTM_Squeeze().Histogram < 0 && TTM_Squeeze().Histogram < TTM_Squeeze().Histogram[1];
# 2) Has the price closed over the 21 EMA?
def bullcloseOver21 = price > EMA21_;
def bearcloseOver21 = price < EMA21_;

# 3) Are EMAs stacked in acsending order ("The Royal Setup")?
def bullstackedEMAS = EMA8_ > EMA21_ and EMA21_ > EMA34_ and ema34 > EMA55_ and EMA55_ > ema89;
def bearstackedEMAS = EMA8_ < EMA21_ and EMA21_ < EMA34_ and ema34 < EMA55_ and EMA55_ < ema89;

# 4) are we in a TTM_squeeze (true if squeezealert has not fired)?
def squeeze = !TTM_Squeeze().SqueezeAlert;

# do we have a squeeze play?
def bullsqueezePlay = squeeze && bullstackedEMAS && bullMomentum && bullcloseOver21;
def bearsqueezePlay = squeeze && bearstackedEMAS && bearMomentum && bearcloseOver21;

# Plot for Squeeze Play
plot Dots_Play_Color = if ( isnaN(close),double.NaN, 6);
Dots_Play_Color.SetPaintingStrategy(PaintingStrategy.POINTS);
Dots_Play_Color.AssignValueColor( if (bullsqueezeplay) then Color.GREEN else if (bearsqueezeplay) then Color.RED else Color.Yellow);
Dots_Play_Color.SetLineWeight(5);

# Plot for TTM Squeeze
plot Dots_Squeeze_Color = if ( isnaN(close),double.NaN, 4);
Dots_Squeeze_Color.SetPaintingStrategy(PaintingStrategy.POINTS);
Dots_Squeeze_Color.AssignValueColor( if (squeeze) then Color.GREEN else Color.Yellow);
Dots_Squeeze_Color.SetLineWeight(5);

# Plot for Stacked EMAs
plot Dots_EMAS_Color = if ( isnaN(close),double.NaN, 3);
Dots_EMAS_Color.SetPaintingStrategy(PaintingStrategy.POINTS);
Dots_EMAS_Color.AssignValueColor( if (bullstackedEMAS) then Color.GREEN else if (bearstackedEMAS) then Color.RED else Color.Yellow);
Dots_EMAS_Color.SetLineWeight(5);

# Plot for Momentum (MO)
plot Dots_MO_Color = if ( isnaN(close),double.NaN, 2);
Dots_MO_Color.SetPaintingStrategy(PaintingStrategy.POINTS);
Dots_MO_Color.AssignValueColor( if (bullMomentum) then Color.GREEN else if (bearMomentum) then Color.RED else Color.Yellow);
Dots_MO_Color.SetLineWeight(5);

# Plot for Cross Over/Under 21
plot Dots_Cross_Color = if ( isnaN(close),double.NaN, 1);
Dots_Cross_Color.SetPaintingStrategy(PaintingStrategy.POINTS);
Dots_Cross_Color.AssignValueColor( if (bullcloseOver21) then Color.GREEN else if (bearcloseOver21) then Color.RED else Color.Yellow);
Dots_Cross_Color.SetLineWeight(5);
 
Last edited by a moderator:
Investingtogive said:
@ Mattyb740 If you don't mind sharing, what is the other indicator that you are using ?
Click to expand...
The trend file that I found on here. It shows up on the price action. I’ve added so many and been testing them that im not sure about the correct tos file. But the name that came up when I originally typed it in is trend scan and it will have arrows showing if candles are going up or down.
-I see that you added to your study and I’ll be honest that looks very intimidating for someone like me.
 
You must log in or register to reply here.
Thread starter Similar threads Forum Replies Date
D Beardy Squeeze Chart Setup For ThinkOrSwim Strategies & Chart Setups 4
chewie76 Repaints MTF Intraday 3-8 Bollinger Band with Squeeze for ThinkOrSwim Strategies & Chart Setups 10
Speeds Heikin Ashi Doji Finder & Squeeze Chart For ThinkOrSwim Strategies & Chart Setups 0
chewie76 Repaints "Trade In The Shade" -Multi-time frame Current Reverse Engineered RSI with Bands and Squeeze For ThinkOrSwim Strategies & Chart Setups 14
S Squeeze Backtester - Find Best Pullback Entry/Stop/Target For ThinkOrSwim Strategies & Chart Setups 4

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
349 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support
Try VIP Club Today

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top