Repaints Trend Reversal for ThinkorSwim

[Thomas]

what you have of Bill Murray's method ??

Search Bill Murray

 

[Jerald643]

@tenacity11 Is their anyway to make the trend arrow line up with the cyan and magenta bars instead of the following bar? Or can those bars repaint too?Thanks!

 

[tenacity11]

@tenacity11 Is their anyway to make the trend arrow line up with the cyan and magenta bars instead of the following bar? Or can those bars repaint too?Thanks!

Jerald the arrow lines up with the parameters of the indicator. The cyan and magenta bars are based on swing highs and lows where the trend reversal is based differently. The trend reversal is a confirmation for me for the possibility of the reversal. I hope that makes sense.

 

[Jerald643]

Jerald the arrow lines up with the parameters of the indicator. The cyan and magenta bars are based on swing highs and lows where the trend reversal is based differently. The trend reversal is a confirmation for me for the possibility of the reversal. I hope that makes sense.

First off, thank you for responding .
Yes , it makes perfect sense looking back at it . Will the color bars repaint like the arrows , giving a false trigger?

 

[tenacity11]

First off, thank you for responding .
Yes , it makes perfect sense looking back at it . Will the color bars repaint like the arrows , giving a false trigger?

Yes the color bars will repaint

 

[technicallydreaming]

I gave this indicator another shot. Even with additional Indicators for confirmation it repaints like crazy. I'm taking about 5-10 bars later on even 15 minute charts. On the 1/3 minute charts don't even think about it . Not worth much in it's current state , I'm sorry to report. Be careful people. Have stops pre set.

 

[Pensar]

@David45 Yes, that indicator repaints.

 

[David45]

@David45 Yes, that indicator repaints.

Thank you Pensar! Do you know how many bars after the actual day of the trend reversal do the arrows appear?

 

[Pensar]

@David45 Not certain. I tend to avoid repainting indicators, they are never as good as they look.

 

[SpyHunter]

@BenTen this is a great indicator. Very accurate for me. And wondering if a small aesthetic tweak can be made? I'm constantly looking left on the daily chart, comparing current price with the day's history to make buy/sell decisions. This indicator produces a lot of buy/sell bubbles on the chart because I trade 1min charts. I wrote the following code to hide the bubbles older than 60 minutes on a 1 min chart, however, I'm wondering if there is a way to code it to show only the latest, most current 4 alerts (e.g. 2 buys, 2 sells)?
## 1 min chart
def barsback = 60;
def currentbar = barnumber();
def dif = currentbar-barsback;
def show =if barnumber() == HighestAll(dif) then 1 else show[1];
AddChartBubble((barnumber and U1 and show), if isUp then low else high, if showarrows and signal > 0 and signal[1] <= 0 then "B" else "" , if Colorbars == 3 then Color.Gray else Color.UPTICK, no);
AddChartBubble((barnumber and D1 and show ), if isUp then low else high, if showarrows and signal < 0 and signal[1] >= 0 then "S" else "" , if Colorbars == 3 then color.gray else Color.DOWNTICK, yes);

Thank you for your help!

 

[David45]

@BenTen Do you know how many bars after the actual day of the trend reversal do the arrows appear?

 

[BenTen]

@David45 The repainting in this indicator is different. It doesn't lag; the signals will simply disappear if it is wrong. Take a look at the screenshot from the original post. Look for the stoploss line. If that line is broken, the signal will disappear.

 

[David45]

@David45 The repainting in this indicator is different. It doesn't lag; the signals will simply disappear if it is wrong. Take a look at the screenshot from the original post. Look for the stoploss line. If that line is broken, the signal will disappear.

Thank you BenTen, do you have a version that includes the stop loss lines?

 

[BenTen]

@David45 Take a look at the original post.

 

[David45]

@David45 Take a look at the original post.

I used the share link and copied the thinkScript manually but neither is plotting the stop loss lines. Only the bubbles. Not sure what I'm missing?

Also, I see there are a few versions of this. Can you post a link to the latest version? Thanks BenTen!

 

[BenTen]

@David45 I just tried the code from post #1, I'm able to see the stoploss line.

 

[David45]

I realized the problem. It has to be used on SPY, not SPX or QQQ not NDX in order to see the stop loss lines. Is this the latest version of the indicator BenTen?

@tomsk is it possible to add the stop loss lines as they are shown in post #1 to this study? Thanks in advance!

 

[BenTen]

@David45 There is only one version of this indicator

 

[David45]

@David45 There is only one version of this indicator

Got it. Thanks BenTen!

 

[David45]

@BenTen is it possible to make some minor tweaks to this?

• Instead of the bubbles saying Reversal, they would say Long and Short.
• Instead of a stop loss line, a stop loss bubble that would say Stop and the stop price would also be in the bubble.

Thanks in advance for any assistance BenTen!