Repaints Trend Reversal for ThinkorSwim

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Trading51 said:
This is for the scanner or the chart ? I was looking for it for the chart please let me know
Click to expand...


That's for the chart, I mentioned earlier it was for a chart but maybe I was not clear. Just load that study on say AAPL daily aggregation and you'll see 2 nice signals there - one bullish and one bearish
 

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tomsk said:
That's for the chart, I mentioned earlier it was for a chart but maybe I was not clear. Just load that study on say AAPL daily aggregation and you'll see 2 nice signals there - one bullish and one bearish
Click to expand...
Your right sorry about that thanks
 
Question for the community ...can this script be utilized as a watchlist column with red and green fields indicating a signal within "x" number of bars? Thanks
 
@Trading51 Personally I think most folks would like to see the arrows signal as it's more intuitive. However since you like to use bubbles, I have added a user input selector displayBubblesOnly that when set to "yes" will display Bubbles and the arrows will not be displayed. This way, this offers flexibility for readers who'd like to have an easy choice. Here then is version 1.2 of the code

Code: 
# Trend Reversal
# Dixon72 with modifications by tomsk
# 1.18.2020
# Scanner by https://usethinkscript.com/u/theelderwand

# V1.0 - 11.09.2019 - Dixon72 - Initial release of Trend Reversal Scanner
# V1.1 - 01.18.2020 - tomsk   - Modified to only display last bullish/bearish signal
# V1.2 - 01.18.2020 - tomsk   - Added user input selector displayBubblesOnly to display bubbles rather than arrows

input displayBubblesOnly = no;

def price = close;
def superfast_length = 9;
def fast_length = 14;
def slow_length = 21;
def displace = 0;

def mov_avg9 = ExpAverage(price[-displace], superfast_length);
def mov_avg14 = ExpAverage(price[-displace], fast_length);
def mov_avg21 = ExpAverage(price[-displace], slow_length);

#moving averages
def Superfast = mov_avg9;
def Fast = mov_avg14;
def Slow = mov_avg21;

def buy = mov_avg9 > mov_avg14 and mov_avg14 > mov_avg21 and low > mov_avg9;
def stopbuy = mov_avg9 <= mov_avg14;
def buynow = !buy[1] and buy;
def buysignal = CompoundValue(1, if buynow and !stopbuy then 1 else if buysignal[1] == 1 and stopbuy then 0 else buysignal[1], 0);

def Buy_Signal = buysignal[1] == 0 and buysignal == 1;
def Momentum_Down = buysignal[1] == 1 and buysignal == 0;

def sell = mov_avg9 < mov_avg14 and mov_avg14 < mov_avg21 and high < mov_avg9;
def stopsell = mov_avg9 >= mov_avg14;
def sellnow = !sell[1] and sell;
def sellsignal = CompoundValue(1, if sellnow and !stopsell then 1 else if sellsignal[1] == 1 and stopsell then 0 else sellsignal[1], 0);
def Sell_Signal = sellsignal[1] == 0 and sellsignal;


input method = {default average, high_low};
def bubbleoffset = .0005;
def percentamount = .01;
def revAmount = .05;
def atrreversal = 2.0;
def atrlength = 5;
def pricehigh = high;
def pricelow = low;
def averagelength = 5;
def averagetype = AverageType.EXPONENTIAL;
def mah = MovingAverage(averagetype, pricehigh, averagelength);
def mal = MovingAverage(averagetype, pricelow, averagelength);
def priceh = if method == method.high_low then pricehigh else mah;
def pricel = if method == method.high_low then pricelow else mal;
def EI = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = percentamount, "absolute reversal" = revAmount, "atr length" = atrlength, "atr reversal" = atrreversal);
rec EISave = if !IsNaN(EI) then EI else GetValue(EISave, 1);
def chg = (if EISave == priceh then priceh else pricel) - GetValue(EISave, 1);
def isUp = chg >= 0;
def EIL = if !IsNaN(EI) and !isUp then pricel else GetValue(EIL, 1);
def EIH = if !IsNaN(EI) and isUp then priceh else GetValue(EIH, 1);
def dir = CompoundValue(1, if EIL != EIL[1] or pricel == EIL[1] and pricel == EISave then 1 else if EIH != EIH[1] or priceh == EIH[1] and priceh == EISave then -1 else dir[1], 0);
def signal = CompoundValue(1, if dir > 0 and pricel > EIL then if signal[1] <= 0 then 1 else signal[1] else if dir < 0 and priceh < EIH then if signal[1] >= 0 then -1 else signal[1] else signal[1], 0);

def bullish2 = if signal > 0 and signal[1] <= 0 then barNumber() else 0;
plot upArrow = if !displayBubblesOnly and barNumber() == HighestAll(bullish2) then low * 0.994 else Double.NaN;
upArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
upArrow.SetLineWeight(5);
upArrow.SetDefaultColor(Color.CYAN);

def bearish2 = if signal < 0 and signal[1] >= 0 then barNumber() else 0;
plot downArrow = if !displayBubblesOnly and barNumber() == HighestAll(bearish2) then high * 1.004 else Double.NaN;
downArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
downArrow.SetLineWeight(5);
downArrow.SetDefaultColor(Color.YELLOW);

AddChartBubble(displayBubblesOnly and barNumber() == HighestAll(bullish2), low * 0.994, "Bullish\nSignal", Color.Cyan, no);
AddChartBubble(displayBubblesOnly and barNumber() == HighestAll(bearish2), high * 1.006, "Bearish\nSignal", Color.Yellow, yes);
# End Trend Reversal
 
@tomsk Is it possible to have the bubble with the stop right below the signal like the original code, this is very hard to understand where the buy and sell is, the original code had the area for the stop which was beneficial

cr93OXI.png
 
Chart Bubbles can certainly be placed anywhere on the chart and are referenced via an X, Y coordinates (axis) where X is the barNumber() or horizontal location and Y is the price location. Earlier you requested the arrows to be replaced by bubbles and that is precisely what I posted in post # 446. Like I mentioned earlier, most folks prefer an arrow signal but you are free to use whatever mechanism you prefer. Not sure how else I can assist further though
 
Last edited:
@BenTen Thanks for all you do. I'm very new here. I stumbled across this site last night while having some rum and researching scans, indicators and Thinkorswim. I can tell this will turn in to my favorite forum. Thank you for all you and the others here do. It took me a while, but I read nearly the entire thread on this custom study and using it as a scan. I'm still trying to figure out how to turn it into a live feed, real-time watchlist but I think it's just too complex to scan the entire market. … again Ben, thank you. It's pretty selfless what you guys do here. I'm amazed to find it on the internet for free.
 
tomsk said:
Chart Bubbles can certainly be placed anywhere on the chart and are referenced via an X, Y coordinates (axis) where X is the barNumber() or horizontal location and Y is the price location. Earlier you requested the arrows to be replaced by bubbles and that is precisely what I posted in post # 446. Like I mentioned earlier, most folks prefer an arrow signal but you are free to use whatever mechanism you prefer. Not sure how else I can assist further though
Click to expand...
@tomsk To help me out could you post the piece of code that I could just add to my current buy and sell signal code that would show just the last buy and sell, thanks
 
@Trading51 - Adjusted bull/bear bubbles to be placed at value of reversal bar. Added Stop Loss bubble and extended line

Code: 
# Trend Reversal
# Dixon72 with modifications by tomsk
# 1.18.2020
# Scanner by https://usethinkscript.com/u/theelderwand

# V1.0 - 11.09.2019 - Dixon72 - Initial release of Trend Reversal Scanner
# V1.1 - 01.18.2020 - tomsk   - Modified to only display last bullish/bearish signal
# V1.2 - 01.18.2020 - tomsk   - Added user input selector displayBubblesOnly to display bubbles rather than arrows
# V1.3 - 01.19.2020 - BLT     - Modified bubble placement, added Stop Loss bubble and extended line

input displayBubblesOnly = yes;

def price = close;
def superfast_length = 9;
def fast_length = 14;
def slow_length = 21;
def displace = 0;

def mov_avg9 = ExpAverage(price[-displace], superfast_length);
def mov_avg14 = ExpAverage(price[-displace], fast_length);
def mov_avg21 = ExpAverage(price[-displace], slow_length);

#moving averages
def Superfast = mov_avg9;
def Fast = mov_avg14;
def Slow = mov_avg21;

def buy = mov_avg9 > mov_avg14 and mov_avg14 > mov_avg21 and low > mov_avg9;
def stopbuy = mov_avg9 <= mov_avg14;
def buynow = !buy[1] and buy;
def buysignal = CompoundValue(1, if buynow and !stopbuy then 1 else if buysignal[1] == 1 and stopbuy then 0 else buysignal[1], 0);

def Buy_Signal = buysignal[1] == 0 and buysignal == 1;
def Momentum_Down = buysignal[1] == 1 and buysignal == 0;

def sell = mov_avg9 < mov_avg14 and mov_avg14 < mov_avg21 and high < mov_avg9;
def stopsell = mov_avg9 >= mov_avg14;
def sellnow = !sell[1] and sell;
def sellsignal = CompoundValue(1, if sellnow and !stopsell then 1 else if sellsignal[1] == 1 and stopsell then 0 else sellsignal[1], 0);
def Sell_Signal = sellsignal[1] == 0 and sellsignal;


input method = {default average, high_low};
def bubbleoffset = .0005;
def percentamount = .01;
def revAmount = .05;
def atrreversal = 2.0;
def atrlength = 5;
def pricehigh = high;
def pricelow = low;
def averagelength = 5;
def averagetype = AverageType.EXPONENTIAL;
def mah = MovingAverage(averagetype, pricehigh, averagelength);
def mal = MovingAverage(averagetype, pricelow, averagelength);
def priceh = if method == method.high_low then pricehigh else mah;
def pricel = if method == method.high_low then pricelow else mal;
def EI = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = percentamount, "absolute reversal" = revAmount, "atr length" = atrlength, "atr reversal" = atrreversal);
rec EISave = if !IsNaN(EI) then EI else GetValue(EISave, 1);
def chg = (if EISave == priceh then priceh else pricel) - GetValue(EISave, 1);
def isUp = chg >= 0;
def EIL = if !IsNaN(EI) and !isUp then pricel else GetValue(EIL, 1);
def EIH = if !IsNaN(EI) and isUp then priceh else GetValue(EIH, 1);
def dir = CompoundValue(1, if EIL != EIL[1] or pricel == EIL[1] and pricel == EISave then 1 else if EIH != EIH[1] or priceh == EIH[1] and priceh == EISave then -1 else dir[1], 0);
def signal = CompoundValue(1, if dir > 0 and pricel > EIL then if signal[1] <= 0 then 1 else signal[1] else if dir < 0 and priceh < EIH then if signal[1] >= 0 then -1 else signal[1] else signal[1], 0);

def bullish2 = if signal > 0 and signal[1] <= 0 then barNumber() else 0;
plot upArrow = if !displayBubblesOnly and barNumber() == HighestAll(bullish2) then low * 0.994 else Double.NaN;
upArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
upArrow.SetLineWeight(5);
upArrow.SetDefaultColor(Color.CYAN);

def bearish2 = if signal < 0 and signal[1] >= 0 then barNumber() else 0;
plot downArrow = if !displayBubblesOnly and barNumber() == HighestAll(bearish2) then high * 1.004 else Double.NaN;
downArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
downArrow.SetLineWeight(5);
downArrow.SetDefaultColor(Color.YELLOW);

AddChartBubble(displayBubblesOnly and barNumber() == HighestAll(bullish2), low, "Bull " + astext(low), Color.Cyan, no);
AddChartBubble(displayBubblesOnly and barNumber() == HighestAll(bearish2), high, "Bear " + astext(high), Color.Yellow, yes);
def bullstop= if barNumber() == HighestAll(bullish2) then low[1] else if barnumber() < HighestAll(bullish2) then double.nan else bullstop[1];
plot bullstopplot = bullstop;
bullstopplot.setdefaultColor(color.red);
AddChartBubble(displayBubblesOnly and barNumber() == HighestAll(bullish2), low[1], "Stop " + astext(low[1]), Color.red, no);
def bearstop= if barNumber() == HighestAll(bearish2) then high[1] else if barnumber() < HighestAll(bearish2) then double.nan else bearstop[1];
plot bearstopplot = bearstop;
bearstopplot.setdefaultColor(color.red);
AddChartBubble(displayBubblesOnly and barNumber() == HighestAll(bearish2), high[1], "Stop " + astext(high[1]), Color.red, yes);
# End Trend Reversal
 
tomsk said:
Chart Bubbles can certainly be placed anywhere on the chart and are referenced via an X, Y coordinates (axis) where X is the barNumber() or horizontal location and Y is the price location. Earlier you requested the arrows to be replaced by bubbles and that is precisely what I posted in post # 446. Like I mentioned earlier, most folks prefer an arrow signal but you are free to use whatever mechanism you prefer. Not sure how else I can assist further though
Click to expand...
@tomsk, After loaded this indicator, its shows only one time Bear or Bull signal per chart, Is it is possible view the all Trend reversal Bubble a day.
 
spm009 said:
Is there any way to modify this indicator to show little arrows or something that isn't so obtrusive?
Click to expand...

@spm009 Sure thing, all you do is to change the weightage on the arrows via SetLineWeight. 1 is the min value and 5 is the max value. The following has a weightage of 3 and so should be less "obtrusive" so to speak

Code: 
upArrow.SetLineWeight(3);
 
tomsk said:
@Trading51 Personally I think most folks would like to see the arrows signal as it's more intuitive. However since you like to use bubbles, I have added a user input selector displayBubblesOnly that when set to "yes" will display Bubbles and the arrows will not be displayed. This way, this offers flexibility for readers who'd like to have an easy choice. Here then is version 1.2 of the code

Code: 
# Trend Reversal
# Dixon72 with modifications by tomsk
# 1.18.2020
# Scanner by https://usethinkscript.com/u/theelderwand

# V1.0 - 11.09.2019 - Dixon72 - Initial release of Trend Reversal Scanner
# V1.1 - 01.18.2020 - tomsk   - Modified to only display last bullish/bearish signal
# V1.2 - 01.18.2020 - tomsk   - Added user input selector displayBubblesOnly to display bubbles rather than arrows

input displayBubblesOnly = no;

def price = close;
def superfast_length = 9;
def fast_length = 14;
def slow_length = 21;
def displace = 0;

def mov_avg9 = ExpAverage(price[-displace], superfast_length);
def mov_avg14 = ExpAverage(price[-displace], fast_length);
def mov_avg21 = ExpAverage(price[-displace], slow_length);

#moving averages
def Superfast = mov_avg9;
def Fast = mov_avg14;
def Slow = mov_avg21;

def buy = mov_avg9 > mov_avg14 and mov_avg14 > mov_avg21 and low > mov_avg9;
def stopbuy = mov_avg9 <= mov_avg14;
def buynow = !buy[1] and buy;
def buysignal = CompoundValue(1, if buynow and !stopbuy then 1 else if buysignal[1] == 1 and stopbuy then 0 else buysignal[1], 0);

def Buy_Signal = buysignal[1] == 0 and buysignal == 1;
def Momentum_Down = buysignal[1] == 1 and buysignal == 0;

def sell = mov_avg9 < mov_avg14 and mov_avg14 < mov_avg21 and high < mov_avg9;
def stopsell = mov_avg9 >= mov_avg14;
def sellnow = !sell[1] and sell;
def sellsignal = CompoundValue(1, if sellnow and !stopsell then 1 else if sellsignal[1] == 1 and stopsell then 0 else sellsignal[1], 0);
def Sell_Signal = sellsignal[1] == 0 and sellsignal;


input method = {default average, high_low};
def bubbleoffset = .0005;
def percentamount = .01;
def revAmount = .05;
def atrreversal = 2.0;
def atrlength = 5;
def pricehigh = high;
def pricelow = low;
def averagelength = 5;
def averagetype = AverageType.EXPONENTIAL;
def mah = MovingAverage(averagetype, pricehigh, averagelength);
def mal = MovingAverage(averagetype, pricelow, averagelength);
def priceh = if method == method.high_low then pricehigh else mah;
def pricel = if method == method.high_low then pricelow else mal;
def EI = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = percentamount, "absolute reversal" = revAmount, "atr length" = atrlength, "atr reversal" = atrreversal);
rec EISave = if !IsNaN(EI) then EI else GetValue(EISave, 1);
def chg = (if EISave == priceh then priceh else pricel) - GetValue(EISave, 1);
def isUp = chg >= 0;
def EIL = if !IsNaN(EI) and !isUp then pricel else GetValue(EIL, 1);
def EIH = if !IsNaN(EI) and isUp then priceh else GetValue(EIH, 1);
def dir = CompoundValue(1, if EIL != EIL[1] or pricel == EIL[1] and pricel == EISave then 1 else if EIH != EIH[1] or priceh == EIH[1] and priceh == EISave then -1 else dir[1], 0);
def signal = CompoundValue(1, if dir > 0 and pricel > EIL then if signal[1] <= 0 then 1 else signal[1] else if dir < 0 and priceh < EIH then if signal[1] >= 0 then -1 else signal[1] else signal[1], 0);

def bullish2 = if signal > 0 and signal[1] <= 0 then barNumber() else 0;
plot upArrow = if !displayBubblesOnly and barNumber() == HighestAll(bullish2) then low * 0.994 else Double.NaN;
upArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
upArrow.SetLineWeight(5);
upArrow.SetDefaultColor(Color.CYAN);

def bearish2 = if signal < 0 and signal[1] >= 0 then barNumber() else 0;
plot downArrow = if !displayBubblesOnly and barNumber() == HighestAll(bearish2) then high * 1.004 else Double.NaN;
downArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
downArrow.SetLineWeight(5);
downArrow.SetDefaultColor(Color.YELLOW);

AddChartBubble(displayBubblesOnly and barNumber() == HighestAll(bullish2), low * 0.994, "Bullish\nSignal", Color.Cyan, no);
AddChartBubble(displayBubblesOnly and barNumber() == HighestAll(bearish2), high * 1.006, "Bearish\nSignal", Color.Yellow, yes);
# End Trend Reversal
Click to expand...
Thanks for the update that what i was looking for much appreciated
 
tomsk said:
@spm009 Sure thing, all you do is to change the weightage on the arrows via SetLineWeight. 1 is the min value and 5 is the max value. The following has a weightage of 3 and so should be less "obtrusive" so to speak

Code: 
upArrow.SetLineWeight(3);
Click to expand...
Thanks!

I played around with the different versions of the script in this thread, my favorite is actually the original one but the bubbles are extremely annoying. They really get in the way of the chart, especially on zoomed out time frames.
 
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