TMO with Higher Agg_Mobius @ TSL

[BenTen]

@trouble56 You can refer to this code that @Maya posted here. It combines two different agg for TMO. You may have to adjust the condition (crossing above/below) that you wanted.

 

[trouble56]

@BenTen Thats the indicator I used to create the arrows I provided above. what I am struggling with it creating a strategy from this or a study from this which signals correctly. The problem is that if one arrow shows a signal (up or down), I need to hold that signal until it signals the opposite signal and this is where I think I am running into a problem with my code. I confirmed I am doing this by plotting the alert and it is not matching the arrows. I need to write something where if there is a cross the value is 1 and it stays one until this is another cross in the opposite direction.

 

[BenTen]

@trouble56 Are you saying that the signals you see manually don't match the signals that the indicator generated? If so, can you share some screenshots?

 

[trouble56]

@BenTen The signals I am seeing from Maya's study is not matching the study I created, which I posted above. here is a picture showing the problems

 

[BenTen]

@trouble56 Can you define the condition for the signal that you're hoping to generate?

 

[trouble56]

@BenTen here are the 2 conditions:

Def LongUP = Crosses(main, signal, CrossingDirection.ABOVE);
Def ShortDOWN = Crosses(main, signal, CrossingDirection.BELOW);

I am looking for the value of ALERT to equal 1 when LongUP occurs and have it keep that value until ShortDOWN occurs then when that happens I want the value of ALERT to be equal to -1 and then I want it to keep that value until LongUP occurs and on and on

 

[BenTen]

@trouble56 Here you go:

# My version of so called "blackFLAG FTS PLATINUM Ver. 5.0" @Maya
# TMO ((T)rue (M)omentum (O)scillator) With Higher Aggregation
# Mobius
# V01.05.2018
#hint: TMO calculates momentum using the DELTA of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

declare lower;

input length = 14;
input calcLength = 5;
input smoothLength = 3;
input agg = AggregationPeriod.HOUR;

def o = open(period = agg);
def c = close(period = agg);
def data = fold i = 0 to length
           with s
           do s + (if c > getValue(o, i)
                   then 1
                   else if c < getValue(o, i)
                        then - 1
                        else 0);
def EMA5 = ExpAverage(data, calcLength);
def Main = ExpAverage(EMA5, smoothLength);
def Signal = ExpAverage(Main, smoothLength);
# End Code TMO with Higher Aggregation

def bullish = Main crosses above Signal;
def bearish = Main crosses below Signal;

plot bullish_signal = if bullish then 1 else 0;
plot bearish_signal = if bearish then -1 else 0;

 

[trouble56]

@BenTen I am looking for the signal to remain 1 until it crosses back. I need it to do this so I can create what I am looking to do

 

[Art]

Hi Everyone,

I'm having some difficulties with the following codes and hoping someone can offer a suggestion.

I have the following label code added to a script for the momentum change.

AddLabel (yes, "Mom Change ", if main > main from 1 bars ago then color.GREEN else if main < main from 1 bars ago then color.RED else color.YELLOW);

Then I have the following one added to my watchlist as a column
main.assignValueColor(if main > main from 1 bars ago then color.GREEN else if main < main from 1 bars ago then color.RED else color.YELLOW);

The aggregation time is set to daily for both, but the colors don't match. Please, can someone tell me where I'm going wrong?

 

[BenTen]

Please post the entire code so we can better assist you.

 

[Art]

@BenTen I'm s=using the TMO https://usethinkscript.com/threads/true-momentum-oscillator-for-thinkorswim.15/ script and simply adding the label code to it.

I think I found the issue. I was using the daily aggregation on 4HR chart, I tested the 4hr on 4hr chart and the label works. But when I change the aggregation to daily the label goes yellow which doesn't match the direction of the trend.

 

[generic]

Is it possible to have the study ignore extended hour candles without turning extended hour off?

 

[BenTen]

@generic You would have to put a time limit into the code:

• https://usethinkscript.com/threads/time-limit-code.325/
• https://usethinkscript.com/threads/include-time-limit-in-backtesting-strategy.2551/

 

[generic]

@generic You would have to put a time limit into the code:

• https://usethinkscript.com/threads/time-limit-code.325/
• https://usethinkscript.com/threads/include-time-limit-in-backtesting-strategy.2551/

Thanks for the info @BenTen. I'll try to learn and report back.

So I understand how to write the code for time limit but I'm not sure where to put it or what to alter to make the study do what I want.

 

[BenTen]

@generic You have to place it in the TMO indicator. Something like if time is between xyz then exclude data or candles.

 

[Moose]

In trying to put together a scanner that shows names with all TMO's compressing and heading upwards, With my VERY limited knowledge, this is as far as i've been able to get with it. most versions of the scanner did not return much results but this one I think I might have found a sweet spot... PLEASE if anyone has any ideas to show names where all TMO's are scooping (turning green from the bottom up) together (or consecutively) please feel free to let me know cause i'm actually pretty frustrated with this since either the previous version would show too few results or show the signal had appeared 3-5 days prior... Here's the scanner:

https://tos.mx/eE5Lpm1

This might be a good addition to your chart as I noticed most of the scan result showed volatility squeeze. by the way, it is different than TTM squeeze.

#Plots a Volatility Squeeze from a higher aggregation period.  The channel plot allows you to quickly see which way price is expanding from the squeeze
###########

Addlabel(1, "Vol Squeeze", color.white);
# Volatility Squeeze: Standard Deviation
# Mobius
# Chat Room Discussion 12.19.2016
# V02.06.16.2018
# Add UI for Higher Aggregation. Added Channel Plot. Added UI controls for Channel Plot, Heritage Points and Label.

input n = 13; #hint n: Length for Standard Deviation calculations
input agg = AggregationPeriod.Fifteen_Min; #hint agg: 2 to 10 times higher than chart agg.
input DisplayChannel = yes;
input HeritagePoints = yes;
input Label = yes;

def h = high(period = agg);
def l = low(period = agg);
def c = close(period = agg);
def x = barNumber();
def nan = double.nan;
def m = Average(c, n);
def SD = stDev(c, n);
def u = m + SD;
def d = m - SD;
def W = (u - d) / m;
def hW = highest(w, n);
def lW = lowest(w, n);
def R = (w - lW) / (hW - lW);
def sq1 = if R crosses below .001
          then hl2
          else sq1[1];
def sqh = if R crosses below .001
          then h
          else sqh[1];
def sql = if R crosses below .001
          then l
          else sql[1];
def sqx = if R crosses below .001
          then x
          else nan;
plot sq = if HeritagePoints and R <= 0
          then sq1
          else double.nan;
     sq.SetStyle(Curve.Points);
     sq.SetLineWeight(3);
     sq.SetDefaultColor(Color.Yellow);
     sq.HideBubble();
     sq.HideTitle();
plot upper = if DisplayChannel and x >= HighestAll(sqx)
             then HighestAll(if isNaN(c[-1])
                             then sqh
                             else nan)
             else nan;
     upper.SetStyle(Curve.Long_Dash);
     upper.SetLineWeight(2);
     upper.SetDefaultColor(Color.Green);
     upper.HideBubble();
     upper.HideTitle();
plot lower = if DisplayChannel and x >= HighestAll(sqx)
             then HighestAll(if isNaN(c[-1])
                             then sql
                             else nan)
             else nan;
     lower.SetStyle(Curve.Long_Dash);
     lower.SetLineWeight(2);
     lower.SetDefaultColor(Color.Red);
     lower.HideBubble();
     lower.HideTitle();
addCloud(lower, upper, color.light_orange, color.light_orange);
addLabel(Label, if R > .9
            then "Vol Expanding: " + R
            else if R < .01
                 then "Squeeze: " + R
            else "Drift: " + R,
            if R < .01
            then color.red
            else if R > .9
                 then color.green
                 else color.white);
# End Code

 

[scalper81]

@YungTraderFromMontana I was trying out this indicator in real trading and it looks like the signal "repaints" in some scenarios. I believe it is not technically a repaint as it waits for confirmation from higher time frames.

 

[BenTen]

@scalper81 Correct, that is not repainting but rather just the fluctuation when waiting for the higher timeframe candle to close.

 

[scalper81]

@scalper81 Correct, that is not repainting but rather just the fluctuation when waiting for the higher timeframe candle to close.

@BenTen Is there a way I can add alert to a strategy? Thanks!

 

[rad14733]

@BenTen Is there a way I can add alert to a strategy? Thanks!

Both Studies and Strategies use Alert()'s the same way... The main difference between Studies and Strategies is that Strategies can use AddOrder() function calls to generate P/L reports...