Repaints Three Little Pigs MTF Swing Trading For ThinkOrSwim

[samport]

I am always seeking for a better method to find MTF alignment to trade with the trend. I discovered the Three Little Pigs strategy on Babypips.com where it has been tweaked and refined extensively for trading FOREX. I see no reason this method/strategy could not be applied for stocks, options, etc. I searched for a thinkscript for TOS but only found scripts for MT4 and other platforms. I constructed this indicator and used some ideas from this forum to attempt to display the plots from higher timeframes. I am posting this here for the community to consider and perhaps improve. Immediate ideas for alerts, arrows, price bar color changes come to mind so feel free to test it out and make corrections where they are needed. Let me know what you think!

#Three Little Pigs indicator

#inspired/adapted from Three Little Pigs trading system for FOREX
#see this website for more information: https://www.babypips.com/trading/trading-system-test-3-little-pigs

#First Little Pig = 55 SMA on Weekly TF
#Second Little Pig = 21 SMA on Daily TF
#Third Little Pig = 34 SMA on 4H TF

declare lower;
input MA1 = 55;
input MA2 = 21;
input MA3 = 34;
input AvgType = averageType.SIMPLE;
input showdotplot = yes;
input useupper_lower = {default lower, upper};
input Period1           = AggregationPeriod.WEEK;
input Period2           = AggregationPeriod.DAY;
input Period3           = AggregationPeriod.FOUR_HOURS;

def AggPer1 = MovingAverage(AvgType, close(period = Period1), MA1);
def AggPer2 = MovingAverage(AvgType, close(period = Period2), MA2);
def AggPer3 = MovingAverage(AvgType, close(period = Period3), MA3);


plot Agg1lower = if close > AggPer1 then 1.8 else Double.NaN;
Agg1lower.SetPaintingStrategy(PaintingStrategy.POINTS);
Agg1lower.SetLineWeight(3);
Agg1lower.SetDefaultColor(Color.GREEN);

plot Agg2lower = if close < AggPer1 then 1.8 else Double.NaN;
Agg2lower.SetPaintingStrategy(PaintingStrategy.POINTS);
Agg2lower.SetLineWeight(3);
Agg2lower.SetDefaultColor(Color.RED);

plot Agg3Lower = if close > AggPer2 then 1.6 else Double.NaN;
Agg3Lower.SetPaintingStrategy(PaintingStrategy.POINTS);
Agg3Lower.SetLineWeight(3);
Agg3Lower.SetDefaultColor(Color.GREEN);
plot Agg4Lower = if close < AggPer2 then 1.6 else Double.NaN;
Agg4Lower.SetPaintingStrategy(PaintingStrategy.POINTS);
Agg4Lower.SetLineWeight(3);
Agg4Lower.SetDefaultColor(Color.RED);

plot Agg5Lower = if close > AggPer3 then 1.4 else Double.NaN;
Agg5Lower.SetPaintingStrategy(PaintingStrategy.POINTS);
Agg5Lower.SetLineWeight(3);
Agg5Lower.SetDefaultColor(Color.GREEN);
plot Agg6Lower = if close < AggPer3 then 1.4 else Double.NaN;
Agg6Lower.SetPaintingStrategy(PaintingStrategy.POINTS);
Agg6Lower.SetLineWeight(3);
Agg6Lower.SetDefaultColor(Color.RED);

plot lineh = if IsNaN(close) or showdotplot == no
             then Double.NaN
             else if useupper_lower == useupper_lower.lower then 2 else Double.NaN;
plot linel = if IsNaN(close) or showdotplot == no
             then Double.NaN
             else if useupper_lower == useupper_lower.lower then 1.2 else Double.NaN;
lineh.SetDefaultColor(Color.DARK_GRAY);
linel.SetDefaultColor(Color.DARK_GRAY);

#Labels with selection to turn them on/off
input showlabels = yes;
AddLabel(showlabels, "Top = Weekly (55 SMA)", Color.GRAY);
AddLabel(showlabels, "Middle = Daily (21 SMA)", Color.GRAY);
AddLabel(showlabels, "Bottom = 4 HOUR (34 SMA)", Color.GRAY);
          

# End Code - Three Little Pigs

 

[astro_phx]

Hi samport thank you for posting this. since it's MTF does this repaint?

 

[samport]

Honestly, I haven't been able to watch the indicator in real time to check for this. As a swing trader, I am not concerned with repainting as much as others. I would be interested to know this for sure though. It is a starting point and I am sure it can be improved upon.

 

[MerryDay]

@astro_phx @samport When placing a higher timeframe indicator on a lower timeframe chart there will ALWAYS be repainting until the higher timeframe candle closes. If there is a 4hr indicator on a 15min chart, it will continually repaint all the previous 16 bars until the 4hr candle close.

This is built-into the DNA of all multi-timeframe indicators. By definition the bars cannot know what the final close is going to be until the close actually happens.