Support and Resistance Cloud Indicator for ThinkorSwim

BenTen

BenTen

Administrative
Staff
VIP
Warehouse
This indicator is to help with your Support and Resistance point.



thinkScript Code
Rich (BB 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
http://tos.mx/yHe1rL

 
Last edited:
markos

markos

Well-known member
VIP
Warehouse
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.
 
G

GeneHo

New member
VIP
@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?
 

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