The Vostro Indicator for ThinkorSwim

BenTen

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The VOSTRO indicator is a trend indicator that automatically provides buying and selling signals. The indicator marks in a window the potential turning points. The indicator is recommended for scalping.

The Vostro indicator determines the overbought zones (value greater than +80) and the oversold zones (less than the -80 level)
  • BUY signal: The Vostro curve moves below the -80 level and forms a trough – Turnaround of the upward trend
  • SELL signal: The Vostro curve moves above the +80 level and forms a peak – Downward trend
Original source: https://www.prorealcode.com/prorealtime-indicators/vostro-vst/

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thinkScript Code

Code:
# The Vostro
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/3XngolO2/

declare lower;

input period156 = 100;
input level = 8;
input over = 80;
input under = -80;
def gd120 = sum(hl2, 5);
def gd128 = gd120 * .2;
def gd121 = sum(high - low, 5);
def gd136 = gd121 * .2 * .2;

def ibuff116 = (low - gd128) / gd136;
def ibuff112 = (high - gd128) / gd136;

def ibuff108 = if(ibuff112 > level and high > wma(hl2, period156), 90, if(ibuff116< -level and low<wma(hl2, period156), -90, 0));
def ibuff109 =if((ibuff112>level and ibuff112[1]>level) or(ibuff116<-level and ibuff116[1]<-8),0,ibuff108);

plot vostro = ibuff109;
plot upper = over;
plot lower = under;

upper.SetDefaultColor(color.red);
lower.SetDefaultColor(color.green);
vostro.AssignValueColor(color.white);
 

tomsk

Well-known member
VIP
@BenTen After responding to literally thousands of user requests over the years I've learnt to read minds, or attempted to do so. Sometimes it works and sometimes it doesn't. That's why it is always best to be specific or misunderstandings can arise.
 

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