Swing Exposure Indicator Request

trendr

Member
Lower Study Based on this:


If the price of $IWM $SPY or $QQQ is BELOW 50dma, I want to limit my exposure to a maximum due to an elevated risk of rollover.

So Labels:
  • Price < 50sma & Price < 5sma = 0% exposure max OR Short
  • Price < 50sma & Price > 5sma = 20% exposure
  • Price < 50sma & Price > 21sma = 40% exposure

If the price of $IWM $SPY or $QQQ is ABOVE 50dma, I want to begin increasing my exposure and be more aggressive as conditions improve.

So Labels:
  • Price > 50sma = 60% exposure max
  • Price > 50sma & Price > 21sma = 80%
  • Price > 50sma & Price > 21sma & Price > 10sma = 100%

I think something like this would benefit the community and myself of course. I saw someone on Twitter post these rules and found them interesting considering the market we are currently in.
 
Last edited:

halcyonguy

Well-known member
VIP
Lifetime
Lower Study Based on this:


If the price of $IWM $SPY or $QQQ is BELOW 50dma, I want to limit my exposure to a maximum due to an elevated risk of rollover.

So Labels:
  • Price < 50dma & Price < 5dma = 0% exposure max OR Short
  • Price < 50dma & Price > 5dma = 20% exposure
  • Price < 50dma & Price > 21dma = 40% exposure

If the price of $IWM $SPY or $QQQ is ABOVE 50dma, I want to begin increasing my exposure and be more aggressive as conditions improve.

So Labels:
  • Price > 50dma = 60% exposure max
  • Price > 50dma & Price > 21dma = 80%
  • Price > 50dma & Price > 21dma & Price > 10dma = 100%

I think something like this would benefit the community and myself of course. I saw someone on twitter post these rules found them interesting considering the market we are currently in.

what is dma?
displaced average?
https://tlc.thinkorswim.com/center/reference/Tech-Indicators/studies-library/C-D/DMA
 

halcyonguy

Well-known member
VIP
Lifetime
Reply sorry it can just be SMA.
DailySMA = Average(fundamental(price, period = aggregationPeriod)[-displace], length);

i think will do what you want

Code:
input avg1_type = AverageType.SIMPLE;
input avg1_price = close;
input avg1_len = 5;
def ma1 = MovingAverage(avg1_type, avg1_price, avg1_len);

input avg2_type = AverageType.SIMPLE;
input avg2_price = close;
input avg2_len = 21;
def ma2 = MovingAverage(avg2_type, avg2_price, avg2_len);

input avg3_type = AverageType.SIMPLE;
input avg3_price = close;
input avg3_len = 50;
def ma3 = MovingAverage(avg3_type, avg3_price, avg3_len);

def per;
def level;
if close < ma3 and close < ma1 then {
# Price < 50sma & Price < 5sma = 0% exposure max OR Short
# red
  per = 0;
  level = 1;

} else if close < ma3 and close > ma1 then {
# Price < 50sma & Price > 5sma = 20% exposure
# magenta
  per = 20;
  level = 2;

} else if close < ma3 and close > ma2 then {
# Price < 50sma & Price > 21sma = 40% exposure
# orange
  per = 40;
  level = 3;

} else if close > ma3 and close > ma2 and close > ma1 then {
# Price > 50sma & Price > 21sma & Price > 10sma = 100%
# green
  per = 100;
  level = 7;

} else if close > ma3 and close > ma2 then {
# Price > 50sma & Price > 21sma = 80%
# cyan
  per = 80;
  level = 6;

} else if close > ma3 then {
# Price > 50sma = 60% exposure max
# yellow
  per = 60;
  level = 5;

} else {
# gray
  per = 50;
  level = 4;
}

addlabel(1,
(per + "%"),
(if level == 1 then color.red
else if level == 2 then color.magenta
else if level == 3 then color.orange
else if level == 5 then color.yellow
else if level == 6 then color.cyan
else if level == 7 then color.green
else color.gray));
#

untested, hopefully no typos...
 
this is great!

@halcyonguy is it possible to be able to choose the index that you want to compare to so that regardless of the equity you may be looking at on your screen, your able to look at the indicator below to get a sense of what the index is doing according to the aforementioned indicator? (i.e. don't want to keep pulling up the index)
 

halcyonguy

Well-known member
VIP
Lifetime
this is great!

@halcyonguy is it possible to be able to choose the index that you want to compare to so that regardless of the equity you may be looking at on your screen, your able to look at the indicator below to get a sense of what the index is doing according to the aforementioned indicator? (i.e. don't want to keep pulling up the index)

i assume you want everything, including
all the averages, to be based on price data from the chosen index symbol?

yes, just need to change every occurance of close , to,
= close("SPY");
or something similar...

give me a few minutes....
 

halcyonguy

Well-known member
VIP
Lifetime
this is great!

@halcyonguy is it possible to be able to choose the index that you want to compare to so that regardless of the equity you may be looking at on your screen, your able to look at the indicator below to get a sense of what the index is doing according to the aforementioned indicator? (i.e. don't want to keep pulling up the index)

i think i forgot about making it a lower chart study.
if that is what you want, add this line

declare lower;

Code:
# index_ma_crossings_01

#https://usethinkscript.com/threads/swing-exposure-indicator-request.12567/#post-107660
# is it possible to be able to choose the index that you want to compare to

input symbol = "-";
# if no symbol is entered, use chart symbol for close price
def sym_cls = if (symbol == "-" or isnan(close(symbol))) then close else close(symbol);

input avg1_type = AverageType.SIMPLE;
#input avg1_price = close;
def avg1_price = sym_cls;
input avg1_len = 5;
def ma1 = MovingAverage(avg1_type, avg1_price, avg1_len);

input avg2_type = AverageType.SIMPLE;
#input avg2_price = close;
def avg2_price = sym_cls;
input avg2_len = 21;
def ma2 = MovingAverage(avg2_type, avg2_price, avg2_len);

input avg3_type = AverageType.SIMPLE;
#input avg3_price = close;
def avg3_price = sym_cls;
input avg3_len = 50;
def ma3 = MovingAverage(avg3_type, avg3_price, avg3_len);


input show_average_lines = no;
plot zma1 = ma1;
zma1.sethiding( !show_average_lines );
zma1.SetDefaultColor(Color.violet);

plot zma2 = ma2;
zma2.sethiding( !show_average_lines );
zma2.SetDefaultColor(Color.violet);
zma2.SetStyle(Curve.MEDIUM_DASH);

plot zma3 = ma3;
zma3.sethiding( !show_average_lines );
zma3.SetDefaultColor(Color.violet);
zma3.SetStyle(Curve.short_DASH);

def cls2 = sym_cls;
def per;
def level;
if cls2 < ma3 and cls2 < ma1 then {
# Price < 50sma & Price < 5sma = 0% exposure max OR Short
# red
  per = 0;
  level = 1;

} else if cls2 < ma3 and cls2 > ma1 then {
# Price < 50sma & Price > 5sma = 20% exposure
# magenta
  per = 20;
  level = 2;

} else if cls2 < ma3 and cls2 > ma2 then {
# Price < 50sma & Price > 21sma = 40% exposure
# orange
  per = 40;
  level = 3;

} else if cls2 > ma3 and cls2 > ma2 and cls2 > ma1 then {
# Price > 50sma & Price > 21sma & Price > 10sma = 100%
# green
  per = 100;
  level = 7;

} else if cls2 > ma3 and cls2 > ma2 then {
# Price > 50sma & Price > 21sma = 80%
# cyan
  per = 80;
  level = 6;

} else if cls2 > ma3 then {
# Price > 50sma = 60% exposure max
# yellow
  per = 60;
  level = 5;

} else {
# gray
  per = 50;
  level = 4;
}

addlabel(1, " ", color.black);

addlabel(1, symbol + " " + (per + "%"),
(if level == 1 then color.red
else if level == 2 then color.magenta
else if level == 3 then color.orange
else if level == 5 then color.yellow
else if level == 6 then color.cyan
else if level == 7 then color.green
else color.gray));
#
 
Last edited:

trendr

Member
i think i forgot about making it a lower chart study.
if that is what you want, add this line

declare lower;

Code:
# index_ma_crossings_01

#https://usethinkscript.com/threads/swing-exposure-indicator-request.12567/#post-107660
# is it possible to be able to choose the index that you want to compare to

input symbol = "-";
# if no symbol is entered, use chart symbol for close price
def sym_cls = if (symbol == "-" or isnan(close(symbol))) then close else close(symbol);

input avg1_type = AverageType.SIMPLE;
#input avg1_price = close;
def avg1_price = sym_cls;
input avg1_len = 5;
def ma1 = MovingAverage(avg1_type, avg1_price, avg1_len);

input avg2_type = AverageType.SIMPLE;
#input avg2_price = close;
def avg2_price = sym_cls;
input avg2_len = 21;
def ma2 = MovingAverage(avg2_type, avg2_price, avg2_len);

input avg3_type = AverageType.SIMPLE;
#input avg3_price = close;
def avg3_price = sym_cls;
input avg3_len = 50;
def ma3 = MovingAverage(avg3_type, avg3_price, avg3_len);


input show_average_lines = no;
plot zma1 = ma1;
zma1.sethiding( !show_average_lines );
zma1.SetDefaultColor(Color.violet);

plot zma2 = ma2;
zma2.sethiding( !show_average_lines );
zma2.SetDefaultColor(Color.violet);
zma2.SetStyle(Curve.MEDIUM_DASH);

plot zma3 = ma3;
zma3.sethiding( !show_average_lines );
zma3.SetDefaultColor(Color.violet);
zma3.SetStyle(Curve.short_DASH);

def cls2 = sym_cls;
def per;
def level;
if cls2 < ma3 and cls2 < ma1 then {
# Price < 50sma & Price < 5sma = 0% exposure max OR Short
# red
  per = 0;
  level = 1;

} else if cls2 < ma3 and cls2 > ma1 then {
# Price < 50sma & Price > 5sma = 20% exposure
# magenta
  per = 20;
  level = 2;

} else if cls2 < ma3 and cls2 > ma2 then {
# Price < 50sma & Price > 21sma = 40% exposure
# orange
  per = 40;
  level = 3;

} else if cls2 > ma3 and cls2 > ma2 and cls2 > ma1 then {
# Price > 50sma & Price > 21sma & Price > 10sma = 100%
# green
  per = 100;
  level = 7;

} else if cls2 > ma3 and cls2 > ma2 then {
# Price > 50sma & Price > 21sma = 80%
# cyan
  per = 80;
  level = 6;

} else if cls2 > ma3 then {
# Price > 50sma = 60% exposure max
# yellow
  per = 60;
  level = 5;

} else {
# gray
  per = 50;
  level = 4;
}

addlabel(1, " ", color.black);

addlabel(1, symbol + " " + (per + "%"),
(if level == 1 then color.red
else if level == 2 then color.magenta
else if level == 3 then color.orange
else if level == 5 then color.yellow
else if level == 6 then color.cyan
else if level == 7 then color.green
else color.gray));
#
Dude your awesome thank you for you work!! @halcyonguy
 

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