Traders Dynamic Index (TDI) Indicator for ThinkorSwim

BenTen

Administrative
Staff member
Staff
VIP
Lifetime
The Traders Dynamic Index (TDI) is a plot to 2 smoothed RSIs on a overbought / oversold grid with a Bollinger Band (with mid-line) of unsmoothed RSI. The basics are that a signal occurs when the less-smoothed RSI line crosses the more-smoothed RSI line. Reversals are possible near overbought / oversold values, especially near the edges of the Bollinger Band.

Gt7zTrv.png


thinkScript Code

Code:
# LS_TradersDynamIcIndex_long
# Traders Dynamic Index   
# 2 smoothed RSIs Plotted on OverBought / OverSold Grid
# with Bollinger Band of unsmoothed RSIs

declare lower;
input averageType = {default SMA, EMA};

# RSI (Relative Strength Index)====================

input Period = 13;
def RegRSI = reference RSI(Period);

# Compute 2 smoothed (by averaging) RSIs------------------
# 2 Smoothers--------------------------------------------------------
input sm1 = 2; # 1st RSI smoother
input sm2 = 7; # 2nd RSI smoother

# 1st smoothed RSI--------------------------------------------------
# Either ----------------------------------------------------------------
# (1) a simple averaging (SMA) or -------------------------
# (2) an exponential averaging (EMA)---------------------

def smRSI1 = if averageType == averageType.SMA then Average(RegRSI, sm1 ) else ExpAverage(RegRSI, sm1);

# 2nd smoothed RSI------------------------------------------------
# Either ---------------------------------------------------------------
# (1) a simple averaging (SMA) or ---------------------
# (2) an exponential averaging (EMA)-----------------

def smRSI2 = if averageType == averageType.SMA then Average(RegRSI, sm2) else ExpAverage(RegRSI, sm2);

# So far we have:
# 1. RegRSI = RSI
# 2. smRSI1 = 1st smoothed RSI, smoother = 2
# 3. smRSI2 = 2nd smoothed RSI, smoother = 7

#--------------------------------------------------------------------------
# PLOTS---------------------------------------------------------------
#---------------------------------------------------------------------------


# RSI1---1st smoothed RSI----------------------------------------
plot RSI1 = smRSI1;
RSI1.SetDefaultColor(Color.GREEN);
RSI1.SetLineWeight(2);
RSI1.SetStyle(Curve.FIRM);
RSI1.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
RSI1.HideBubble();
RSI1.HideTitle();

# RSI2---2nd smoothed RSI---------------------------------------
plot RSI2 = smRSI2;
RSI2.SetDefaultColor(Color.CYAN);
RSI2.SetLineWeight(2);
RSI2.SetStyle(Curve.FIRM);
RSI2.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
RSI2.HideBubble();
RSI2.HideTitle();

#============================================
# Bollinger Bands of RSI=========================
#============================================

# Length of Bollinger Averaging---------------------------------
input BBlength = 34;           
# Width of Bollinger Band in Standard Deviations----------
input BBsdMult = 1.62;
# Mid-line for the Bollinger Band of the RegRSIs -----------

plot BBmidline = Average(RegRSI, BBlength);
BBmidline.SetDefaultColor(Color.CYAN);
BBmidline.SetLineWeight(5);
BBmidline.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
BBmidline.SetStyle(Curve.FIRM);
BBmidline.HideBubble();
BBmidline.HideTitle();

BBmidline.AssignValueColor(if BBmidline < BBmidline [1] then Color.VIOLET else (if BBmidline == BBmidline [1] then Color.LIME else Color.LIME));

#--------------------------------------------------------------------------
# Upper and Lower Bollinger Bands---------------------------
#---------------------------------------------------------------------------

# Standard Deviation of unsmoothed RSIs-------------------
def SDBB = StDev(RegRSI, BBlength);

# Upper Line of Bollinger Band----------------------------------
plot uBBline = BBmidline + BBsdMult * SDBB;

uBBline.SetDefaultColor(Color.WHITE);
uBBline.SetStyle(Curve.LONG_DASH);
uBBline.SetLineWeight(1);
uBBline.HideBubble();
uBBline.HideTitle();

# Lower Line of Bollinger Band---------------------------------
plot lBBline = BBmidline - BBsdMult * SDBB;

lBBline.SetDefaultColor(Color.WHITE);
lBBline.SetStyle(Curve.LONG_DASH);
lBBline.SetLineWeight(1);
lBBline.HideBubble();
lBBline.HideTitle();

#--------------------------------------------------------------------------
# GRID-----------------------------------------------------------------
#--------------------------------------------------------------------------

plot OB = 68; # OverBought
plot ML = 50; # Mid-Line
plot OS = 32; # OverSold

OB.SetStyle(Curve.FIRM);
OB.SetDefaultColor(Color.VIOLET);
OB.SetLineWeight(1);
#OB.HideBubble();
OB.HideTitle();

ML.SetStyle(Curve.LONG_DASH);
ML.SetDefaultColor(Color.WHITE);
ML.SetLineWeight(3);
#ML.HideBubble();
ML.HideTitle();


OS.SetStyle(Curve.FIRM);
OS.SetDefaultColor(Color.LIGHT_GREEN);
OS.SetLineWeight(1);
#OS.HideBubble();
OS.HideTitle();

#---------------------------------------------------------------------------
# Add Vertical Line when RSI1 crosses BBmidline-----------
#---------------------------------------------------------------------------

AddVerticalLine (if RSI1 > BBmidline and RSI1[1] <= BBmidline
then 1 else 0, "--- UP ? ---", Color.YELLOW, Curve.LONG_DASH);

AddVerticalLine (if RSI1 < BBmidline and RSI1[1] >= BBmidline
then 1 else 0, "--- DN ? ---", Color.VIOLET, Curve.LONG_DASH);

#---------------------------------------------------------------------------
# Cloud between RSI2 and BBmidline-------------------------
#---------------------------------------------------------------------------

AddCloud (RSI2, BBmidline, Color.WHITE, Color.YELLOW);

# END ======================================

Shareable Link

https://tos.mx/xfUH6Xl
Credit:
 

tomsk

Well-known member
VIP
I am not a coder but would love to get rid of the vertical lines with up? and dn?

@poparhon Per your request here is that same study, after removing the vertical lines specific code

Code:
# LS_TradersDynamIcIndex_long
# Traders Dynamic Index   
# 2 smoothed RSIs Plotted on OverBought / OverSold Grid
# with Bollinger Band of unsmoothed RSIs

declare lower;
input averageType = {default SMA, EMA};

# RSI (Relative Strength Index)====================

input Period = 13;
def RegRSI = reference RSI(Period);

# Compute 2 smoothed (by averaging) RSIs------------------
# 2 Smoothers--------------------------------------------------------
input sm1 = 2; # 1st RSI smoother
input sm2 = 7; # 2nd RSI smoother

# 1st smoothed RSI--------------------------------------------------
# Either ----------------------------------------------------------------
# (1) a simple averaging (SMA) or -------------------------
# (2) an exponential averaging (EMA)---------------------

def smRSI1 = if averageType == averageType.SMA then Average(RegRSI, sm1 ) else ExpAverage(RegRSI, sm1);

# 2nd smoothed RSI------------------------------------------------
# Either ---------------------------------------------------------------
# (1) a simple averaging (SMA) or ---------------------
# (2) an exponential averaging (EMA)-----------------

def smRSI2 = if averageType == averageType.SMA then Average(RegRSI, sm2) else ExpAverage(RegRSI, sm2);

# So far we have:
# 1. RegRSI = RSI
# 2. smRSI1 = 1st smoothed RSI, smoother = 2
# 3. smRSI2 = 2nd smoothed RSI, smoother = 7

#--------------------------------------------------------------------------
# PLOTS---------------------------------------------------------------
#---------------------------------------------------------------------------


# RSI1---1st smoothed RSI----------------------------------------
plot RSI1 = smRSI1;
RSI1.SetDefaultColor(Color.GREEN);
RSI1.SetLineWeight(2);
RSI1.SetStyle(Curve.FIRM);
RSI1.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
RSI1.HideBubble();
RSI1.HideTitle();

# RSI2---2nd smoothed RSI---------------------------------------
plot RSI2 = smRSI2;
RSI2.SetDefaultColor(Color.CYAN);
RSI2.SetLineWeight(2);
RSI2.SetStyle(Curve.FIRM);
RSI2.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
RSI2.HideBubble();
RSI2.HideTitle();

#============================================
# Bollinger Bands of RSI=========================
#============================================

# Length of Bollinger Averaging---------------------------------
input BBlength = 34;           
# Width of Bollinger Band in Standard Deviations----------
input BBsdMult = 1.62;
# Mid-line for the Bollinger Band of the RegRSIs -----------

plot BBmidline = Average(RegRSI, BBlength);
BBmidline.SetDefaultColor(Color.CYAN);
BBmidline.SetLineWeight(5);
BBmidline.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
BBmidline.SetStyle(Curve.FIRM);
BBmidline.HideBubble();
BBmidline.HideTitle();

BBmidline.AssignValueColor(if BBmidline < BBmidline [1] then Color.VIOLET else (if BBmidline == BBmidline [1] then Color.LIME else Color.LIME));

#--------------------------------------------------------------------------
# Upper and Lower Bollinger Bands---------------------------
#---------------------------------------------------------------------------

# Standard Deviation of unsmoothed RSIs-------------------
def SDBB = StDev(RegRSI, BBlength);

# Upper Line of Bollinger Band----------------------------------
plot uBBline = BBmidline + BBsdMult * SDBB;

uBBline.SetDefaultColor(Color.WHITE);
uBBline.SetStyle(Curve.LONG_DASH);
uBBline.SetLineWeight(1);
uBBline.HideBubble();
uBBline.HideTitle();

# Lower Line of Bollinger Band---------------------------------
plot lBBline = BBmidline - BBsdMult * SDBB;

lBBline.SetDefaultColor(Color.WHITE);
lBBline.SetStyle(Curve.LONG_DASH);
lBBline.SetLineWeight(1);
lBBline.HideBubble();
lBBline.HideTitle();

#--------------------------------------------------------------------------
# GRID-----------------------------------------------------------------
#--------------------------------------------------------------------------

plot OB = 68; # OverBought
plot ML = 50; # Mid-Line
plot OS = 32; # OverSold

OB.SetStyle(Curve.FIRM);
OB.SetDefaultColor(Color.VIOLET);
OB.SetLineWeight(1);
#OB.HideBubble();
OB.HideTitle();

ML.SetStyle(Curve.LONG_DASH);
ML.SetDefaultColor(Color.WHITE);
ML.SetLineWeight(3);
#ML.HideBubble();
ML.HideTitle();


OS.SetStyle(Curve.FIRM);
OS.SetDefaultColor(Color.LIGHT_GREEN);
OS.SetLineWeight(1);
#OS.HideBubble();
OS.HideTitle();

#---------------------------------------------------------------------------
# Cloud between RSI2 and BBmidline-------------------------
#---------------------------------------------------------------------------

AddCloud (RSI2, BBmidline, Color.WHITE, Color.YELLOW);

# END ======================================
 

Albert Washington

New member
Question: I am a new member of "use think script" as of 12-17-20. Do
you use/illustrate the Trader Dynamic Index (TDI) indicator for better entry and exit?
 

TomC

New member
Added Brake out Signals and colors for light TOS background.

TDI.jpg


Code:
# LS_TradersDynamIcIndex_long
# Traders Dynamic Index 
# 2 smoothed RSIs Plotted on OverBought / OverSold Grid
# with Bollinger Band of unsmoothed RSIs

declare lower;
input averageType = {default SMA, EMA};

# RSI (Relative Strength Index)====================

input Period = 13;
def RegRSI = reference RSI(Period);

# Compute 2 smoothed (by averaging) RSIs------------------
# 2 Smoothers--------------------------------------------------------

input sm1 = 2; # 1st RSI smoother
input sm2 = 7; # 2nd RSI smoother

# 1st smoothed RSI--------------------------------------------------
# Either ----------------------------------------------------------------
# (1) a simple averaging (SMA) or -------------------------
# (2) an exponential averaging (EMA)---------------------

def smRSI1 = if averageType == averageType.SMA then Average(RegRSI, sm1 ) else ExpAverage(RegRSI, sm1);

# 2nd smoothed RSI------------------------------------------------
# Either ---------------------------------------------------------------
# (1) a simple averaging (SMA) or ---------------------
# (2) an exponential averaging (EMA)-----------------

def smRSI2 = if averageType == averageType.SMA then Average(RegRSI, sm2) else ExpAverage(RegRSI, sm2);

# So far we have:
# 1. RegRSI = RSI
# 2. smRSI1 = 1st smoothed RSI, smoother = 2
# 3. smRSI2 = 2nd smoothed RSI, smoother = 7

#----------------------------------------------
# PLOTS---------------------------------------------------------------
#----------------------------------------------

# RSI1---1st smoothed RSI----------------------------------------
plot RSI1 = smRSI1;
RSI1.SetDefaultColor(Color.DARK_GREEN);
RSI1.SetLineWeight(3);
RSI1.SetStyle(Curve.LONG_DASH);
RSI1.SetPaintingStrategy(PaintingStrategy.LINE);
RSI1.HideBubble();
RSI1.HideTitle();

# RSI2---2nd smoothed RSI---------------------------------------
plot RSI2 = smRSI2;
RSI2.SetDefaultColor(Color.red);
RSI2.SetLineWeight(2);
RSI2.SetStyle(Curve.FIRM);
RSI2.SetPaintingStrategy(PaintingStrategy.LINE);
RSI2.HideBubble();
RSI2.HideTitle();

#----------------------------------------------
# Bollinger Bands of RSI ----------------------
#----------------------------------------------

# Length of Bollinger Averaging---------------------------------
input BBlength = 34;         
# Width of Bollinger Band in Standard Deviations----------
input BBsdMult = 1.62;
# Mid-line for the Bollinger Band of the RegRSIs -----------

plot BBmidline = Average(RegRSI, BBlength);
BBmidline.SetDefaultColor(Color.CYAN);
BBmidline.SetLineWeight(4);
BBmidline.SetPaintingStrategy(PaintingStrategy.LINE);
BBmidline.SetStyle(Curve.FIRM);
BBmidline.HideBubble();
BBmidline.HideTitle();

BBmidline.AssignValueColor(if BBmidline < BBmidline [1] then Color.bLUE else (if BBmidline == BBmidline [1] then Color.DARK_ORANGE else Color.dARK_ORANGE));

#----------------------------------------------
# Upper and Lower Bollinger Bands-------------
#----------------------------------------------

# Standard Deviation of unsmoothed RSIs-------------------
def SDBB = StDev(RegRSI, BBlength);

# Upper Line of Bollinger Band----------------------------------
plot uBBline = BBmidline + BBsdMult * SDBB;

uBBline.SetDefaultColor(Color.LIGHT_GRAY);
uBBline.SetStyle(Curve.FIRM);
uBBline.SetLineWeight(1);
uBBline.HideBubble();
uBBline.HideTitle();

# Lower Line of Bollinger Band---------------------------------
plot lBBline = BBmidline - BBsdMult * SDBB;

lBBline.SetDefaultColor(Color.LIGHT_GRAY);
lBBline.SetStyle(Curve.FIRM);
lBBline.SetLineWeight(1);
lBBline.HideBubble();
lBBline.HideTitle();

#----------------------------------------------
# GRID----------------------------------------
#----------------------------------------------

plot OB = 68; # OverBought
plot ML = 50; # Mid-Line
plot OS = 32; # OverSold

OB.SetStyle(Curve.FIRM);
OB.SetDefaultColor(Color.red);
OB.SetLineWeight(1);
#OB.HideBubble();
OB.HideTitle();

ML.SetStyle(Curve.LONG_DASH);
ML.SetDefaultColor(Color.GRAY);
ML.SetLineWeight(1);
#ML.HideBubble();
ML.HideTitle();


OS.SetStyle(Curve.FIRM);
OS.SetDefaultColor(Color.DARK_green);
OS.SetLineWeight(1);
#OS.HideBubble();
OS.HideTitle();

#----------------------------------------------
# Add Vertical Line when RSI1 crosses BBmidline-----------
#----------------------------------------------

AddVerticalLine (if RSI1 > BBmidline and RSI1[1] <= BBmidline
then 1 else 0, "--- UP ? ---", Color.ORANGE, Curve.LONG_DASH);

AddVerticalLine (if RSI1 < BBmidline and RSI1[1] >= BBmidline
then 1 else 0, "--- DN ? ---", Color.VIOLET, Curve.LONG_DASH);

#----------------------------------------------
# Cloud between RSI2 and BBmidline-------------------------
#----------------------------------------------

AddCloud (RSI2, BBmidline, Color.lIGHT_GRAY, Color.YELLOW);

#----------------------------------------------
#----------- RSI Brakeout Signal Added by Tom C.
#----------------------------------------------

input showBreakoutSignals = yes;

plot UpSignal = if RSI1 crosses above ML then ML else Double.NaN;
plot DownSignal = if RSI1 crosses below ML then ML else Double.NaN;

UpSignal.SetHiding(!showBreakoutSignals);
DownSignal.SetHiding(!showBreakoutSignals);

UpSignal.SetDefaultColor(Color.UPTICK);
UpSignal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);

DownSignal.SetDefaultColor(Color.DOWNTICK);
DownSignal.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);

# END ======================================

Shareable Link​

http://tos.mx/fEdleFw
 
Last edited:

BenTen

Administrative
Staff member
Staff
VIP
Lifetime
@KYLEM0990 Use the version below:

Code:
# LS_TradersDynamIcIndex_long
# Traders Dynamic Index   
# 2 smoothed RSIs Plotted on OverBought / OverSold Grid
# with Bollinger Band of unsmoothed RSIs

input averageType = {default SMA, EMA};

# RSI (Relative Strength Index)====================

input Period = 13;
def RegRSI = reference RSI(Period);

# Compute 2 smoothed (by averaging) RSIs------------------
# 2 Smoothers--------------------------------------------------------
input sm1 = 2; # 1st RSI smoother
input sm2 = 7; # 2nd RSI smoother

# 1st smoothed RSI--------------------------------------------------
# Either ----------------------------------------------------------------
# (1) a simple averaging (SMA) or -------------------------
# (2) an exponential averaging (EMA)---------------------

def smRSI1 = if averageType == averageType.SMA then Average(RegRSI, sm1 ) else ExpAverage(RegRSI, sm1);

# 2nd smoothed RSI------------------------------------------------
# Either ---------------------------------------------------------------
# (1) a simple averaging (SMA) or ---------------------
# (2) an exponential averaging (EMA)-----------------

def smRSI2 = if averageType == averageType.SMA then Average(RegRSI, sm2) else ExpAverage(RegRSI, sm2);

# So far we have:
# 1. RegRSI = RSI
# 2. smRSI1 = 1st smoothed RSI, smoother = 2
# 3. smRSI2 = 2nd smoothed RSI, smoother = 7

#--------------------------------------------------------------------------
# PLOTS---------------------------------------------------------------
#---------------------------------------------------------------------------


# RSI1---1st smoothed RSI----------------------------------------
def RSI1 = smRSI1;

# RSI2---2nd smoothed RSI---------------------------------------
def RSI2 = smRSI2;


#============================================
# Bollinger Bands of RSI=========================
#============================================

# Length of Bollinger Averaging---------------------------------
input BBlength = 34;           
# Width of Bollinger Band in Standard Deviations----------
input BBsdMult = 1.62;
# Mid-line for the Bollinger Band of the RegRSIs -----------

def BBmidline = Average(RegRSI, BBlength);

#--------------------------------------------------------------------------
# Upper and Lower Bollinger Bands---------------------------
#---------------------------------------------------------------------------

# Standard Deviation of unsmoothed RSIs-------------------
def SDBB = StDev(RegRSI, BBlength);

# Upper Line of Bollinger Band----------------------------------
def uBBline = BBmidline + BBsdMult * SDBB;

# Lower Line of Bollinger Band---------------------------------
def lBBline = BBmidline - BBsdMult * SDBB;

#--------------------------------------------------------------------------
# GRID-----------------------------------------------------------------
#--------------------------------------------------------------------------

#plot OB = 68; # OverBought
#plot ML = 50; # Mid-Line
#plot OS = 32; # OverSold

plot bullish = if RSI1 > BBmidline and RSI1[1] <= BBmidline then low else double.nan;
plot bearish = if RSI1 < BBmidline and RSI1[1] >= BBmidline then high else double.nan;

plot bull = bullish;
bull.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bull.SetDefaultColor(Color.CYAN);
bull.SetLineWeight(1);
plot bear = bearish;
bear.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
bear.SetDefaultColor(Color.CYAN);
bear.SetLineWeight(1);

#---------------------------------------------------------------------------
# Add Vertical Line when RSI1 crosses BBmidline-----------
#---------------------------------------------------------------------------

#AddVerticalLine (if RSI1 > BBmidline and RSI1[1] <= BBmidline
#then 1 else 0, "--- UP ? ---", Color.YELLOW, Curve.LONG_DASH);

#AddVerticalLine (if RSI1 < BBmidline and RSI1[1] >= BBmidline
#then 1 else 0, "--- DN ? ---", Color.VIOLET, Curve.LONG_DASH);

#---------------------------------------------------------------------------
# Cloud between RSI2 and BBmidline-------------------------
#---------------------------------------------------------------------------

#AddCloud (RSI2, BBmidline, Color.WHITE, Color.YELLOW);

# END ======================================
 

Splinter

Member
VIP
Apologies for the bump, I was hoping if someone would be able to post the code snippet I could add to this to create an alert for the up/down signals....Greatly appreciate your help!
 

BenTen

Administrative
Staff member
Staff
VIP
Lifetime
@Splinter

Code:
def bull = RSI1 > BBmidline and RSI1[1] <= BBmidline;
def bear = RSI1 < BBmidline and RSI1[1] >= BBmidline;

# Alerts
Alert(bull, " ", Alert.Bar, Sound.Chimes);
Alert(bear, " ", Alert.Bar, Sound.Bell);
 

germanburrito

Active member
this indicator is primarily the RSI with bollinger bands, theres ton of info on it, it calls bottoms and tops, but it also gives many false signals.
heres a simple version of it, the green is pretty much the rsi

Code:
# LS_TradersDynamIcIndex_long
# Traders Dynamic Index  
# 2 smoothed RSIs Plotted on OverBought / OverSold Grid
# with Bollinger Band of unsmoothed RSIs

declare lower;
input averageType = {default SMA, EMA};
input Period = 13;
input showBreakoutSignals = YES;

plot RegRSI = reference RSI(Period);
plot average = average(Regrsi,7);

RegRSI.SetDefaultColor(Color.GREEN);
RegRSI.SetStyle(Curve.FIRM);
RegRSI.HideBubble();
RegRSI.HideTitle();



input BBlength = 34;

input BBsdMult = 1.62;
def BBmidline = Average(RegRSI, BBlength);
def SDBB = StDev(RegRSI, BBlength);

# Upper Line of Bollinger Band----------------------------------
plot uBBline = BBmidline + BBsdMult * SDBB;

uBBline.SetDefaultColor(Color.YELLOW);
uBBline.SetStyle(Curve.SHORT_DASH);
uBBline.SetLineWeight(1);
uBBline.HideBubble();
uBBline.HideTitle();

# Lower Line of Bollinger Band---------------------------------
plot lBBline = BBmidline - BBsdMult * SDBB;

lBBline.SetDefaultColor(Color.YELLOW);
lBBline.SetStyle(Curve.SHORT_DASH);
lBBline.SetLineWeight(2);
lBBline.HideBubble();
lBBline.HideTitle();






plot UpSignal = if RegRSI crosses above lBBline then lBBline else Double.NaN;
plot DownSignal = if RegRSI crosses below uBBline then uBBline else Double.NaN;

UpSignal.SetHiding(!showBreakoutSignals);
DownSignal.SetHiding(!showBreakoutSignals);


UpSignal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
DownSignal.SetDefaultColor(Color.DOWNTICK);
DownSignal.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
# END ======================================
 
Last edited by a moderator:

Herbee

New member
VIP
Sorry to ask again but I did not receive a response to my question. Is there a way to make the plot variables show up when I create a scan using the Condition wizard? I am looking to create a scans that identify stocks in the s&p 500 when RSI1 crosses above and below RSI2?
 

MerryDay

Administrative
Staff member
Staff
VIP
Lifetime
@Herbee
Click on scan.
Click on +Add filter
Click on the pencil icon next to the filter you just added
Click edit
1. In the left column, click on the pull-down window, click add study
Type in whatever you named your TDI script
2. Under Plot, click on the pull-down window, choose RSI1
3. In the middle column, choose Greater Than
4. In the right column, click on the pull-down window, click add study
Type in whatever you named your TDI script
5. Under Plot, click on the pull-down window, choose RSI2
Save
For RSI1 crossing below RSI2, create a separate scan the same way, except in the middle column choose Less Than.
HTH
XMqEWzx.png
 

Hapme

New member
if you can have a look at the picture there ,,, we have the -- Upper Volatiility band and Lower , RSI , signal Line , but the yellow line is the Base line , the base line also gives a lot of info about the trend going and more important divergences . the script you post is great similar to tradeview in all ways , but is missing online the baseline thats all , if you can add it

 
Last edited by a moderator:

germanburrito

Active member
all you could do is delete def bbmidline and write plot intead.

Code:
# LS_TradersDynamIcIndex_long

# Traders Dynamic Index   

# 2 smoothed RSIs Plotted on OverBought / OverSold Grid

# with Bollinger Band of unsmoothed RSIs


declare lower;

input averageType = {default SMA, EMA};

input Period = 13;

input showBreakoutSignals = YES;


plot RegRSI = reference RSI(Period);

plot average = average(Regrsi,7);


RegRSI.SetDefaultColor(Color.GREEN);

RegRSI.SetStyle(Curve.FIRM);

RegRSI.HideBubble();

RegRSI.HideTitle();




input BBlength = 34;


input BBsdMult = 1.62;

plot BBmidline = Average(RegRSI, BBlength);

def SDBB = StDev(RegRSI, BBlength);


# Upper Line of Bollinger Band----------------------------------

plot uBBline = BBmidline + BBsdMult * SDBB;


uBBline.SetDefaultColor(Color.YELLOW);

uBBline.SetStyle(Curve.SHORT_DASH);

uBBline.SetLineWeight(1);

uBBline.HideBubble();

uBBline.HideTitle();


# Lower Line of Bollinger Band---------------------------------

plot lBBline = BBmidline - BBsdMult * SDBB;


lBBline.SetDefaultColor(Color.YELLOW);

lBBline.SetStyle(Curve.SHORT_DASH);

lBBline.SetLineWeight(2);

lBBline.HideBubble();

lBBline.HideTitle();







plot UpSignal = if RegRSI crosses above lBBline then lBBline else Double.NaN;

plot DownSignal = if RegRSI crosses below uBBline then uBBline else Double.NaN;


UpSignal.SetHiding(!showBreakoutSignals);

DownSignal.SetHiding(!showBreakoutSignals);



UpSignal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);

DownSignal.SetDefaultColor(Color.DOWNTICK);

DownSignal.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);

# END ======================================
 

Zlotko

Member
VIP
@KYLEM0990 Use the version below:

Code:
# LS_TradersDynamIcIndex_long
# Traders Dynamic Index 
# 2 smoothed RSIs Plotted on OverBought / OverSold Grid
# with Bollinger Band of unsmoothed RSIs

input averageType = {default SMA, EMA};

# RSI (Relative Strength Index)====================

input Period = 13;
def RegRSI = reference RSI(Period);

# Compute 2 smoothed (by averaging) RSIs------------------
# 2 Smoothers--------------------------------------------------------
input sm1 = 2; # 1st RSI smoother
input sm2 = 7; # 2nd RSI smoother

# 1st smoothed RSI--------------------------------------------------
# Either ----------------------------------------------------------------
# (1) a simple averaging (SMA) or -------------------------
# (2) an exponential averaging (EMA)---------------------

def smRSI1 = if averageType == averageType.SMA then Average(RegRSI, sm1 ) else ExpAverage(RegRSI, sm1);

# 2nd smoothed RSI------------------------------------------------
# Either ---------------------------------------------------------------
# (1) a simple averaging (SMA) or ---------------------
# (2) an exponential averaging (EMA)-----------------

def smRSI2 = if averageType == averageType.SMA then Average(RegRSI, sm2) else ExpAverage(RegRSI, sm2);

# So far we have:
# 1. RegRSI = RSI
# 2. smRSI1 = 1st smoothed RSI, smoother = 2
# 3. smRSI2 = 2nd smoothed RSI, smoother = 7

#--------------------------------------------------------------------------
# PLOTS---------------------------------------------------------------
#---------------------------------------------------------------------------


# RSI1---1st smoothed RSI----------------------------------------
def RSI1 = smRSI1;

# RSI2---2nd smoothed RSI---------------------------------------
def RSI2 = smRSI2;


#============================================
# Bollinger Bands of RSI=========================
#============================================

# Length of Bollinger Averaging---------------------------------
input BBlength = 34;         
# Width of Bollinger Band in Standard Deviations----------
input BBsdMult = 1.62;
# Mid-line for the Bollinger Band of the RegRSIs -----------

def BBmidline = Average(RegRSI, BBlength);

#--------------------------------------------------------------------------
# Upper and Lower Bollinger Bands---------------------------
#---------------------------------------------------------------------------

# Standard Deviation of unsmoothed RSIs-------------------
def SDBB = StDev(RegRSI, BBlength);

# Upper Line of Bollinger Band----------------------------------
def uBBline = BBmidline + BBsdMult * SDBB;

# Lower Line of Bollinger Band---------------------------------
def lBBline = BBmidline - BBsdMult * SDBB;

#--------------------------------------------------------------------------
# GRID-----------------------------------------------------------------
#--------------------------------------------------------------------------

#plot OB = 68; # OverBought
#plot ML = 50; # Mid-Line
#plot OS = 32; # OverSold

plot bullish = if RSI1 > BBmidline and RSI1[1] <= BBmidline then low else double.nan;
plot bearish = if RSI1 < BBmidline and RSI1[1] >= BBmidline then high else double.nan;

plot bull = bullish;
bull.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bull.SetDefaultColor(Color.CYAN);
bull.SetLineWeight(1);
plot bear = bearish;
bear.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
bear.SetDefaultColor(Color.CYAN);
bear.SetLineWeight(1);

#---------------------------------------------------------------------------
# Add Vertical Line when RSI1 crosses BBmidline-----------
#---------------------------------------------------------------------------

#AddVerticalLine (if RSI1 > BBmidline and RSI1[1] <= BBmidline
#then 1 else 0, "--- UP ? ---", Color.YELLOW, Curve.LONG_DASH);

#AddVerticalLine (if RSI1 < BBmidline and RSI1[1] >= BBmidline
#then 1 else 0, "--- DN ? ---", Color.VIOLET, Curve.LONG_DASH);

#---------------------------------------------------------------------------
# Cloud between RSI2 and BBmidline-------------------------
#---------------------------------------------------------------------------

#AddCloud (RSI2, BBmidline, Color.WHITE, Color.YELLOW);

# END ======================================
Is this not MACD?
Yes MACD 3,10,16
 
Last edited by a moderator:

MerryDay

Administrative
Staff member
Staff
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Lifetime
Yes MACD 3,10,16
if you added BollingerBands and several different lengths of MACD to your MACD 3,10,16, you could replicate something similar to the TSI.

Trending Indicators are all using the same data. For that reason they are said to be highly correlated (have similiar plots). This is true of MACD, TMO, RSI, SMI, etc...
Read more here:
https://usethinkscript.com/threads/...nt-to-successful-trading-in-thinkorswim.6114/
and here:
The myth of oscillators:
https://thepatternsite.com/Oscillators.html
 
Last edited:

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