Support and Resistance Cloud Indicator for ThinkorSwim

[BenTen]

This indicator is to help with your Support and Resistance point.

thinkScript Code

#VM_Drummond_61_Channel  

declare upper;  

input Agg = AggregationPeriod.DAY;  

input pldotlength = 3;  

input pldotdisplace = -1;  

def o = open(period = agg);  

def h = high(period = agg);  

def l = low(period = agg);  

def c = close(period = agg);  

def ma = simpleMovingAvg(hlc3(period = agg),pldotlength,pldotdisplace);  

#====1-1Channel====  

def y = ma - absvalue(h[1] - ma);  

def x = ma + absvalue(ma - l[1]);  

plot res = x;  

plot sup = y;  

addcloud(x,y,color.GRAY);

Shareable Link
https://tos.mx/yHe1rL

 

[markos]

The name VM at the start of the script goes by the name Growex in the TSL. His other studies can be found in the Onenote.
He is a Russian Programmer who has been writing code for ToS for years.

 

[GeneHo]

@BenTen , on your chart, I see E Up and 4 grey bar, may I know what indicator is that? Is the grey bar indicates the strength of a trend?

 

[BenTen]

@GeneHo I believe you're looking for this https://usethinkscript.com/threads/3-in-1-simple-or-exponential-moving-average-for-thinkorswim.64/