ThinkorSwim Two Legged Pullback Indicator

Active member
2019 Donor
VIP
Is there any way (TOS script, website, tools, etc..) to calculate the average pullback (percentage, points, ticks) before resuming the current trend? Or calculate on average how far above the previous high before pulling back?

Code:
``````# "Normal" PullBack Zone
# Attempting to define a typical pullback area using imp_volatility()
# v.01 7.31.18
# Nube

input AcceptableBarsToEntry = 7;
input Fixins = no;

def c  = close;
def na = Double.NaN;
def bn = BarNumber();
def tick = TickSize();

def firstThing  = Average(c,20);
def secondThing = Average(c,100);
def upCross   = c > secondThing &&
firstThing crosses above secondThing;
def upStop    = c crosses below secondThing;
def downCross = c < secondThing &&
firstThing crosses below secondThing;
def downStop  = c crosses above firstThing;

def iv  = if   !IsNaN(imp_volatility())
then imp_volatility()
else iv[1];
def SD1 = c * iv * Sqrt((AcceptableBarsToEntry/(AggregationPeriod.DAY/GetAggregationPeriod())) / 365);
def SD2 = SD1 * 2;

then bn
then c - SD2 - tick * HeadroomTicks
else if   upStop
then na
then c
then c - SD1
else if   upStop
then na
then c + SD1
else if   upStop
then na

def sellBar = if   downCross
then bn
else sellBar[1];
def sellPrice = if   bn == sellBar
then c
else sellPrice[1];
def sellStop = if   bn == sellBar
then c + SD2 + tick * HeadroomTicks
else if   downStop
then na
else sellStop[1];
def sellRetrace = if   bn == sellBar
then c + SD1
else if   downStop
then na
else sellRetrace[1];
def sellRiskOff = if   bn == sellBar
then c - SD1
else if   downStop
then na
else sellRiskOff[1];

plot
LongEntry;
LongEntry.  SetDefaultColor(CreateColor(100,200,100));
LongEntry.  SetPaintingStrategy(PaintingStrategy.Arrow_Up);
LongEntry = if   bn == buyBar
then low - tick * HeadroomTicks
else na;

plot
LongRetrace.  SetStyle(Curve.Short_Dash);
LongRetrace.  SetDefaultColor(CreateColor(100,200,100));

plot
LongStop.  SetDefaultColor(CreateColor(200,100,100));
LongStop.  SetStyle(Curve.Firm);

plot
LongRiskOff.  SetDefaultColor(Color.Pink);
LongRiskOff.  SetStyle(Curve.Medium_Dash);

plot
ShortEntry;
ShortEntry.  SetDefaultColor(CreateColor(200,100,100));
ShortEntry.  SetPaintingStrategy(PaintingStrategy.Arrow_Down);
ShortEntry = if   bn == sellBar
then high + tick * HeadroomTicks
else na;

plot
ShortRetrace = Round(sellRetrace,2);
ShortRetrace.  SetStyle(Curve.Short_Dash);
ShortRetrace.  SetDefaultColor(CreateColor(200,100,100));

plot
ShortStop = Round(sellStop,2);
ShortStop.  SetDefaultColor(CreateColor(100,200,100));
ShortStop.  SetStyle(Curve.Firm);

plot
ShortRiskOff = Round(sellRiskOff,2);
ShortRiskOff.  SetDefaultColor(CreateColor(155,225,155));
ShortRiskOff.  SetStyle(Curve.Medium_Dash);

AddChartBubble(Fixins && LongEntry, LongStop, "Long Stop \n" +LongStop, Color.Red,0);
AddChartBubble(Fixins && LongEntry, LongRiskOff, "Long Risk Off: " +LongRiskOff+ "\n 1 SD: "+ Round(SD1,2), Color.Pink);
AddChartBubble(Fixins && ShortEntry, ShortStop, "Short Stop \n" +ShortStop, Color.Green);
AddChartBubble(Fixins && ShortEntry, ShortRiskOff, "Short Risk Off: " +ShortRiskOff+ "\n 1 SD: "+ Round(SD1,2), CreateColor(155,225,155), 0);

def LE = if !IsNaN(c) then buyPrice else na;
def SE = if !IsNaN(c) then sellPrice else na;
AddCloud(if (Fixins, LE, na), LongRetrace, CreateColor(155,225,155));
AddCloud(if (Fixins, ShortRetrace, na), SE, Color.Pink);

# f/ "Normal" PullBack Zone``````

New member
Hey guys I'm looking for a script that can recognize a trend of three candles or more. (Sell or Put) on the first pull back I like a rectangle on the body of the last trend candle. Once value box is broken on ether side I like a single and arrow to witch side that was broken.

Last edited by a moderator:

papayax999

New member
I am trying to make a simple pullback identifier, that will count basically two pull back. I never coded in think or swim, but i made a simple pseuocode on what i would like to do, if someone could just guide me on some functions. I would like a bubble to form that counts, whenever i get a pullback, not just an arrow indicator. Please let me know if anything needs to be cleared up, as it is very bare as of now, but id like to see if anyone could let me know of any TOS functions i could use.

Code:
``````while(1){
if ( candle1  < candleZ )//compares the first candle, checks to see if candle 2 has a higher low then the first candle. If it does, it will add a 1 bubble.
{
legCount = 1
candleZ++

if (candleN<candleZ && candleN >candle1)// this will check the 3rd and red of the candles, with
{
legCount = 2 // prepare for 2nd entry.
candleZ++
candle N++
}

}
else
{
legCount = 0
}
}``````

tboxer854

New member
Does anyone know any indicators that will help you identify two legged pullbacks? I have a hard time recognizing them and I saw someone posted a version for Ninjatrade but curious if anything exists for TOS?

Thanks.

Vimal Mittal

Member
I have just joined this web site and love it. I was watching youtube about a script they are selling for 75 dollars. I would like someone to create for me. It is about multiple time frame pullback and reclimb in watchlist including intraday.