Repaints Trend Reversal for ThinkorSwim

[tenacity11]

@camitos thought you might want to see how I have used the trend reversal. I find that using it in conjunction with the swing h-l works nicely and yes it does repaint but once in the trade the risk is low.

 

[camitos]

@camitos thought you might want to see how I have used the trend reversal. I find that using it in conjunction with the swing h-l works nicely and yes it does repaint but once in the trade the risk is low.

sorry what's the swing high low indicator you're using here? i dont see anything but trendlines and those 2 bottom indicators

 

[tenacity11]

sorry what's the swing high low indicator you're using here? i dont see anything but trendlines and those 2 bottom indicators

Please note that I have turned off the highs and low and just use the actual swing high and low colored candles in conjunction with the trend reversal.

# Swing High and Swing Low
# tomsk
# 11.18.2019
# As requested by chillc15 I have modified [USER=1174]@RobertPayne[/USER] code to include SwingHigh
# points which are now plotted in CYAN with the swing high points painted in PINK.
# So now you have both swing high and low on your charts
#  +------------------------------------------------------------+
# | Example: How to extend levels to the right of the chart |
# | Robert Payne |
# | https://funwiththinkscript.com |
#  +------------------------------------------------------------+
# SWING LOW
# define swing low points
input length = 10;
def bn = BarNumber();
def lastBar = HighestAll(if IsNaN(close) then 0 else bn);
def offset = Min(length - 1, lastBar - bn);
def swingLow = low < Lowest(low[1], length - 1) and low == GetValue(Lowest(low, length), -offset);
# identify the very last swing low point
def lowPointOneBarNumber = HighestAll(if swingLow then bn else 0);
def lowPointOneValue = if bn == lowPointOneBarNumber then low else lowPointOneValue[1];
plot low1 = if bn < lowPointOneBarNumber then Double.NaN else lowPointOneValue;
low1.SetDefaultColor(Color.LIGHT_RED);
# identify the 2nd to last swing low point
def lowPointTwoBarNumber = HighestAll(if swingLow and bn < lowPointOneBarNumber then bn else 0);
def lowPointTwoValue = if bn == lowPointTwoBarNumber then low else lowPointTwoValue[1];
plot low2 = if bn < lowPointTwoBarNumber then Double.NaN else lowPointTwoValue;
low2.SetDefaultColor(Color.Light_RED);
# just keep doing ths for as many lines as you want to add to the chart
# identify then 3rd to last swingHigh point low
def lowPointThreeBarNumber = HighestAll(if swingLow and bn < lowPointTwoBarNumber then bn else 0);
def lowPointThreeValue = if bn == lowPointThreeBarNumber then low else lowPointThreeValue[1];
plot low3 = if bn < lowPointThreeBarNumber then Double.NaN else lowPointThreeValue;
low3.SetDefaultColor(Color.Light_RED);
# identify then 4th to last swingHigh point low
def lowPointFourBarNumber = HighestAll(if swingLow and bn < lowPointThreeBarNumber then bn else 0);
def lowPointFourValue = if bn == lowPointFourBarNumber then low else lowPointFourValue[1];
plot low4 = if bn < lowPointFourBarNumber then Double.NaN else lowPointFourValue;
low4.SetDefaultColor(Color.Light_RED);
# identify then 5th to last swingHigh point low
def lowPointFiveBarNumber = HighestAll(if swingLow and bn < lowPointFourBarNumber then bn else 0);
def lowPointFiveValue = if bn == lowPointFiveBarNumber then low else lowPointFiveValue[1];
plot low5 = if bn < lowPointFiveBarNumber then Double.NaN else lowPointFiveValue;
low5.SetDefaultColor(Color.Light_RED);
# identify then 6th to last swingHigh point low
def lowPointSixBarNumber = HighestAll(if swingLow and bn < lowPointFiveBarNumber then bn else 0);
def lowPointSixValue = if bn == lowPointSixBarNumber then low else lowPointSixValue[1];
plot low6 = if bn < lowPointSixBarNumber then Double.NaN else lowPointSixValue;
low6.SetDefaultColor(Color.Light_RED);
# identify then 7th to last swingHigh point low
def lowPointSevenBarNumber = HighestAll(if swingLow and bn < lowPointSixBarNumber then bn else 0);
def lowPointSevenValue = if bn == lowPointSevenBarNumber then low else lowPointSevenValue[1];
plot low7 = if bn < lowPointSevenBarNumber then Double.NaN else lowPointSevenValue;
low7.SetDefaultColor(Color.Light_RED);
# identify then 8th to last swingHigh point low
def lowPointEightBarNumber = HighestAll(if swingLow and bn < lowPointSevenBarNumber then bn else 0);
def lowPointEightValue = if bn == lowPointEightBarNumber then low else lowPointEightValue[1];
plot low8 = if bn < lowPointEightBarNumber then Double.NaN else lowPointEightValue;
low8.SetDefaultColor(Color.Light_RED);
# identify then 9th to last swingHigh point low
def lowPointNineBarNumber = HighestAll(if swingLow and bn < lowPointEightBarNumber then bn else 0);
def lowPointNineValue = if bn == lowPointNineBarNumber then low else lowPointNineValue[1];
plot low9 = if bn < lowPointNineBarNumber then Double.NaN else lowPointNineValue;
low9.SetDefaultColor(Color.Light_RED);
# identify then 10th to last swingHigh point low
def lowPointTenBarNumber = HighestAll(if swingLow and bn < lowPointNineBarNumber then bn else 0);
def lowPointTenValue = if bn == lowPointTenBarNumber then low else lowPointTenValue[1];
plot low10 = if bn < lowPointTenBarNumber then Double.NaN else lowPointTenValue;
low10.SetDefaultColor(Color.Light_RED);


# SWING HIGH
# define swing high points
def swingHigh = high > Highest(high[1], length - 1) and high == GetValue(Highest(high, length), -offset);
# identify the very last swing high point
def highPointOneBarNumber = HighestAll(if swingHigh then bn else 0);
def highPointOneValue = if bn == highPointOneBarNumber then high else highPointOneValue[1];
plot high1 = if bn < highPointOneBarNumber then Double.NaN else highPointOneValue;
high1.SetDefaultColor(Color.CYAN);
# identify the 2nd to last swing high point
def highPointTwoBarNumber = HighestAll(if swingHigh and bn < highPointOneBarNumber then bn else 0);
def highPointTwoValue = if bn == highPointTwoBarNumber then high else highPointTwoValue[1];
plot high2 = if bn < highPointTwoBarNumber then Double.NaN else highPointTwoValue;
high2.SetDefaultColor(Color.CYAN);
# just keep doing ths for as many lines as you want to add to the chart
def highPointThreeBarNumber = HighestAll(if swingHigh and bn < highPointTwoBarNumber then bn else 0);
def highPointThreeValue = if bn == highPointThreeBarNumber then high else highPointThreeValue[1];
plot high3 = if bn < highPointThreeBarNumber then Double.NaN else highPointThreeValue;
high3.SetDefaultColor(Color.CYAN);
def highPointFourBarNumber = HighestAll(if swingHigh and bn < highPointThreeBarNumber then bn else 0);
def highPointFourValue = if bn == highPointFourBarNumber then high else highPointFourValue[1];
plot high4 = if bn < highPointFourBarNumber then Double.NaN else highPointFourValue;
high4.SetDefaultColor(Color.CYAN);
def highPointFiveBarNumber = HighestAll(if swingHigh and bn < highPointFourBarNumber then bn else 0);
def highPointFiveValue = if bn == highPointFiveBarNumber then high else highPointFiveValue[1];
plot high5 = if bn < highPointFiveBarNumber then Double.NaN else highPointFiveValue;
high5.SetDefaultColor(Color.CYAN);
def highPointSixBarNumber = HighestAll(if swingHigh and bn < highPointFiveBarNumber then bn else 0);
def highPointSixValue = if bn == highPointSixBarNumber then high else highPointSixValue[1];
plot high6 = if bn < highPointsixBarNumber then Double.NaN else highPointsixValue;
high6.SetDefaultColor(Color.CYAN);
def highPointSevenBarNumber = HighestAll(if swingHigh and bn < highPointSixBarNumber then bn else 0);
def highPointSevenValue = if bn == highPointSevenBarNumber then high else highPointSevenValue[1];
plot high7 = if bn < highPointSevenBarNumber then Double.NaN else highPointSevenValue;
high7.SetDefaultColor(Color.CYAN);
def highPointEightBarNumber = HighestAll(if swingHigh and bn < highPointSevenBarNumber then bn else 0);
def highPointEightValue = if bn == highPointEightBarNumber then high else highPointEightValue[1];
plot high8 = if bn < highPointEightBarNumber then Double.NaN else highPointEightValue;
high4.SetDefaultColor(Color.CYAN);
def highPointNineBarNumber = HighestAll(if swingHigh and bn < highPointEightBarNumber then bn else 0);
def highPointNineValue = if bn == highPointNineBarNumber then high else highPointNineValue[1];
plot high9 = if bn < highPointNineBarNumber then Double.NaN else highPointNineValue;
high4.SetDefaultColor(Color.CYAN);
def highPointTenBarNumber = HighestAll(if swingHigh and bn < highPointNineBarNumber then bn else 0);
def highPointTenValue = if bn == highPointTenBarNumber then high else highPointTenValue[1];
plot high10 = if bn < highPointTenBarNumber then Double.NaN else highPointTenValue;
high4.SetDefaultColor(Color.CYAN);

# ADJUST CANDLE COLORS
# change candle colors just to make it easier to see what we are working with
AssignPriceColor(if swingLow then Color.cyan else if swingHigh then Color.mageNTA else Color.current);
# End Swing High and Swing Low

 

[mini]

@camitos thought you might want to see how I have used the trend reversal. I find that using it in conjunction with the swing h-l works nicely and yes it does repaint but once in the trade the risk is low.

Do you mind to share this chart? What study is the white trend lines?

 

[camitos]

Please note that I have turned off the highs and low and just use the actual swing high and low colored candles in conjunction with the trend reversal.

# Swing High and Swing Low
# tomsk
# 11.18.2019
# As requested by chillc15 I have modified [USER=1174]@RobertPayne[/USER] code to include SwingHigh
# points which are now plotted in CYAN with the swing high points painted in PINK.
# So now you have both swing high and low on your charts
#  +------------------------------------------------------------+
# | Example: How to extend levels to the right of the chart |
# | Robert Payne |
# | https://funwiththinkscript.com |
#  +------------------------------------------------------------+
# SWING LOW
# define swing low points
input length = 10;
def bn = BarNumber();
def lastBar = HighestAll(if IsNaN(close) then 0 else bn);
def offset = Min(length - 1, lastBar - bn);
def swingLow = low < Lowest(low[1], length - 1) and low == GetValue(Lowest(low, length), -offset);
# identify the very last swing low point
def lowPointOneBarNumber = HighestAll(if swingLow then bn else 0);
def lowPointOneValue = if bn == lowPointOneBarNumber then low else lowPointOneValue[1];
plot low1 = if bn < lowPointOneBarNumber then Double.NaN else lowPointOneValue;
low1.SetDefaultColor(Color.LIGHT_RED);
# identify the 2nd to last swing low point
def lowPointTwoBarNumber = HighestAll(if swingLow and bn < lowPointOneBarNumber then bn else 0);
def lowPointTwoValue = if bn == lowPointTwoBarNumber then low else lowPointTwoValue[1];
plot low2 = if bn < lowPointTwoBarNumber then Double.NaN else lowPointTwoValue;
low2.SetDefaultColor(Color.Light_RED);
# just keep doing ths for as many lines as you want to add to the chart
# identify then 3rd to last swingHigh point low
def lowPointThreeBarNumber = HighestAll(if swingLow and bn < lowPointTwoBarNumber then bn else 0);
def lowPointThreeValue = if bn == lowPointThreeBarNumber then low else lowPointThreeValue[1];
plot low3 = if bn < lowPointThreeBarNumber then Double.NaN else lowPointThreeValue;
low3.SetDefaultColor(Color.Light_RED);
# identify then 4th to last swingHigh point low
def lowPointFourBarNumber = HighestAll(if swingLow and bn < lowPointThreeBarNumber then bn else 0);
def lowPointFourValue = if bn == lowPointFourBarNumber then low else lowPointFourValue[1];
plot low4 = if bn < lowPointFourBarNumber then Double.NaN else lowPointFourValue;
low4.SetDefaultColor(Color.Light_RED);
# identify then 5th to last swingHigh point low
def lowPointFiveBarNumber = HighestAll(if swingLow and bn < lowPointFourBarNumber then bn else 0);
def lowPointFiveValue = if bn == lowPointFiveBarNumber then low else lowPointFiveValue[1];
plot low5 = if bn < lowPointFiveBarNumber then Double.NaN else lowPointFiveValue;
low5.SetDefaultColor(Color.Light_RED);
# identify then 6th to last swingHigh point low
def lowPointSixBarNumber = HighestAll(if swingLow and bn < lowPointFiveBarNumber then bn else 0);
def lowPointSixValue = if bn == lowPointSixBarNumber then low else lowPointSixValue[1];
plot low6 = if bn < lowPointSixBarNumber then Double.NaN else lowPointSixValue;
low6.SetDefaultColor(Color.Light_RED);
# identify then 7th to last swingHigh point low
def lowPointSevenBarNumber = HighestAll(if swingLow and bn < lowPointSixBarNumber then bn else 0);
def lowPointSevenValue = if bn == lowPointSevenBarNumber then low else lowPointSevenValue[1];
plot low7 = if bn < lowPointSevenBarNumber then Double.NaN else lowPointSevenValue;
low7.SetDefaultColor(Color.Light_RED);
# identify then 8th to last swingHigh point low
def lowPointEightBarNumber = HighestAll(if swingLow and bn < lowPointSevenBarNumber then bn else 0);
def lowPointEightValue = if bn == lowPointEightBarNumber then low else lowPointEightValue[1];
plot low8 = if bn < lowPointEightBarNumber then Double.NaN else lowPointEightValue;
low8.SetDefaultColor(Color.Light_RED);
# identify then 9th to last swingHigh point low
def lowPointNineBarNumber = HighestAll(if swingLow and bn < lowPointEightBarNumber then bn else 0);
def lowPointNineValue = if bn == lowPointNineBarNumber then low else lowPointNineValue[1];
plot low9 = if bn < lowPointNineBarNumber then Double.NaN else lowPointNineValue;
low9.SetDefaultColor(Color.Light_RED);
# identify then 10th to last swingHigh point low
def lowPointTenBarNumber = HighestAll(if swingLow and bn < lowPointNineBarNumber then bn else 0);
def lowPointTenValue = if bn == lowPointTenBarNumber then low else lowPointTenValue[1];
plot low10 = if bn < lowPointTenBarNumber then Double.NaN else lowPointTenValue;
low10.SetDefaultColor(Color.Light_RED);


# SWING HIGH
# define swing high points
def swingHigh = high > Highest(high[1], length - 1) and high == GetValue(Highest(high, length), -offset);
# identify the very last swing high point
def highPointOneBarNumber = HighestAll(if swingHigh then bn else 0);
def highPointOneValue = if bn == highPointOneBarNumber then high else highPointOneValue[1];
plot high1 = if bn < highPointOneBarNumber then Double.NaN else highPointOneValue;
high1.SetDefaultColor(Color.CYAN);
# identify the 2nd to last swing high point
def highPointTwoBarNumber = HighestAll(if swingHigh and bn < highPointOneBarNumber then bn else 0);
def highPointTwoValue = if bn == highPointTwoBarNumber then high else highPointTwoValue[1];
plot high2 = if bn < highPointTwoBarNumber then Double.NaN else highPointTwoValue;
high2.SetDefaultColor(Color.CYAN);
# just keep doing ths for as many lines as you want to add to the chart
def highPointThreeBarNumber = HighestAll(if swingHigh and bn < highPointTwoBarNumber then bn else 0);
def highPointThreeValue = if bn == highPointThreeBarNumber then high else highPointThreeValue[1];
plot high3 = if bn < highPointThreeBarNumber then Double.NaN else highPointThreeValue;
high3.SetDefaultColor(Color.CYAN);
def highPointFourBarNumber = HighestAll(if swingHigh and bn < highPointThreeBarNumber then bn else 0);
def highPointFourValue = if bn == highPointFourBarNumber then high else highPointFourValue[1];
plot high4 = if bn < highPointFourBarNumber then Double.NaN else highPointFourValue;
high4.SetDefaultColor(Color.CYAN);
def highPointFiveBarNumber = HighestAll(if swingHigh and bn < highPointFourBarNumber then bn else 0);
def highPointFiveValue = if bn == highPointFiveBarNumber then high else highPointFiveValue[1];
plot high5 = if bn < highPointFiveBarNumber then Double.NaN else highPointFiveValue;
high5.SetDefaultColor(Color.CYAN);
def highPointSixBarNumber = HighestAll(if swingHigh and bn < highPointFiveBarNumber then bn else 0);
def highPointSixValue = if bn == highPointSixBarNumber then high else highPointSixValue[1];
plot high6 = if bn < highPointsixBarNumber then Double.NaN else highPointsixValue;
high6.SetDefaultColor(Color.CYAN);
def highPointSevenBarNumber = HighestAll(if swingHigh and bn < highPointSixBarNumber then bn else 0);
def highPointSevenValue = if bn == highPointSevenBarNumber then high else highPointSevenValue[1];
plot high7 = if bn < highPointSevenBarNumber then Double.NaN else highPointSevenValue;
high7.SetDefaultColor(Color.CYAN);
def highPointEightBarNumber = HighestAll(if swingHigh and bn < highPointSevenBarNumber then bn else 0);
def highPointEightValue = if bn == highPointEightBarNumber then high else highPointEightValue[1];
plot high8 = if bn < highPointEightBarNumber then Double.NaN else highPointEightValue;
high4.SetDefaultColor(Color.CYAN);
def highPointNineBarNumber = HighestAll(if swingHigh and bn < highPointEightBarNumber then bn else 0);
def highPointNineValue = if bn == highPointNineBarNumber then high else highPointNineValue[1];
plot high9 = if bn < highPointNineBarNumber then Double.NaN else highPointNineValue;
high4.SetDefaultColor(Color.CYAN);
def highPointTenBarNumber = HighestAll(if swingHigh and bn < highPointNineBarNumber then bn else 0);
def highPointTenValue = if bn == highPointTenBarNumber then high else highPointTenValue[1];
plot high10 = if bn < highPointTenBarNumber then Double.NaN else highPointTenValue;
high4.SetDefaultColor(Color.CYAN);

# ADJUST CANDLE COLORS
# change candle colors just to make it easier to see what we are working with
AssignPriceColor(if swingLow then Color.cyan else if swingHigh then Color.mageNTA else Color.current);
# End Swing High and Swing Low

Thanks for explaining! I see you use volume pressure and a momentum oscillator as well, do you think those increase confirmation

 

[tenacity11]

Do you mind to share this chart? What study is the white trend lines?

@mini Those lines are just trend lines I draw by hand.

 

[tenacity11]

Thanks for explaining! I see you use volume pressure and a momentum oscillator as well, do you think those increase confirmation

Yes I like to see there is volume behind what's going on and I also look for the momentum indicator to be in my favor.

 

[mini]

@mini Those lines are just trend lines I draw by hand.

I see. Thank you!

 

[tenacity11]

I see. Thank you!

You're welcome

 

[camitos]

Yes I like to see there is volume behind what's going on and I also look for the momentum indicator to be in my favor.

Hmm I don't know if I'm supposed to move this into the Questions section but may I ask why volume pressure and not just the regular volume bars.. also I assume those coloured candles repaint as well?

 

[tenacity11]

Hmm I don't know if I'm supposed to move this into the Questions section but may I ask why volume pressure and not just the regular volume bars.. also I assume those coloured candles repaint as well?

I like to see how much of the volume was buying and how much selling. Yes the candles will repaint if the highs and lows are exceeded. That is why I wait for confirmation before entering.

 

[tutianlong]

@camitos thought you might want to see how I have used the trend reversal. I find that using it in conjunction with the swing h-l works nicely and yes it does repaint but once in the trade the risk is low.

i realised the reversal arrow will come 1-2 candles after your swing candle appears...so how do you choose an entry ? mind enlightening me ?

 

[tenacity11]

i realised the reversal arrow will come 1-2 candles after your swing candle appears...so how do you choose an entry ? mind enlightening me ?

@tutianlong That is my confirmation along with how the TMO looks

 

[tutianlong]

@tutianlong That is my confirmation along with how the TMO looks

i see...but i think the trend reversal calculates the swing points already in its code..so the arrow will definitely appear after your swingpoint (correct me if i am wrong).

 

[tenacity11]

i see...but i think the trend reversal calculates the swing points already in its code..so the arrow will definitely appear after your swingpoint (correct me if i am wrong).

If you look at AMD on a 3m chart you will see the reversal candle but there was no arrow after

 

[camitos]

I like to see how much of the volume was buying and how much selling. Yes the candles will repaint if the highs and lows are exceeded. That is why I wait for confirmation before entering.

Oh okay kind of like volume profile right... I've tried to Google TMO and can only find telegraphic money order? Is that what it stands for lol

 

[tenacity11]

Oh okay kind of like volume profile right... I've tried to Google TMO and can only find telegraphic money order? Is that what it stands for lol

Do a search in this forum for True Momentum Oscillator

 

[camitos]

Do a search in this forum for True Momentum Oscillator

Oh okay yeah haha thanks. Still have a lot to learn

 

[tenacity11]

Oh okay yeah haha thanks. Still have a lot to learn

Best advice I can give is keep it simple. I've been at this a long time and gone through a plethora of different things and in the end it's back to simple that works best for me.

 

[camitos]

Best advice I can give is keep it simple. I've been at this a long time and gone through a plethora of different things and in the end it's back to simple that works best for me.

Oh I totally agree, I like a very clean chart.