Repaints Trend Reversal for ThinkorSwim

[BenTen]

@FreefallJM03 Since this is a repainting indicator, you need to set the "within X bars" option to any value higher than 1 or else the scanner will not work.

You can take a look at the video below.

 

[FreefallJM03]

I tried that, the scan comes back with, "Error: Trying to self-assing a non-initialized rec: state." I think it is truncated.

 

[rad14733]

I tried that, the scan comes back with, "Error: Trying to self-assing a non-initialized rec: state." I think it is truncated.

I don't think recursion is allowable in scans or watchlists...

 

[jma]

Hi Ben,

I tried to use this as a scanner, but it did not work.

https://tos.mx/vlVadom

I imported the scripts through Setup and then copied the codes to TOS:

Scan→Study→Custom

Can you please take a look at the scripts below and let me know what may be wrong?

Thank you so much!

 

[goudarziha]

Hello All,

I have been trying to get my feet *** with thinkscript, but trying to go over the code is a bit confusing. I noticed a lot of code about the fib part has been commented out, or is it just the drawing of? Anyway, I am just trying to figure out exactly what this zigzag/high-low + fibs is creating signals. I can't for the life of me figure it out.

What I know:
buy when over 3 emas, sell under 3 emas
zigzag top/low
fib over .718 retracement?

Thanks in advanced!

 

[tem2005]

@FreefallJM03 So I assume what you said in first that the up arrow repainted and then after three days it showed up again?

And there is no delay in printing the arrows after day is closed if there was a signal?

 

[FreefallJM03]

So I assume what you said in first that the up arrow repainted and then after three days it showed up again?

And there is no delay in printing the arrows after day is closed if there was a signal?

On one of the stocks the reversal indicator (green) appeared for USX I think it was. About two days later it disappeared, then 2-3 days later it appeared again. I stayed in the stock and turned a profit over 20%. Studying the behavior of the stock is important. The indicators for me are just a guide. I don't buy directly off the indicator. I keep a list of stocks that have good behaviorial patterns. When I see a green indicator bubble, I review the last three incidents of the bubble from green reversal to red reversal. If its pattern of behavior looks good, then I buy it. I am up 11.15% on MAXR and up 3.4% on DDOG. These are stocks I bought last week. I bought one I think on Tuesday (MAXR) and the other on Friday (DDOG). The stocks can sometimes be erratic. DDOG dropped yesterday, but is up $4.44/share right now. I bought in at 90.50. I'm looking at a short term target on it of at least 95 and a potential target of $112.

 

[tem2005]

@FreefallJM03 Another great post. Thank you very much!

 

[FreefallJM03]

@FreefallJM03 Another great post. Thank you very much!

You're welcome. If we share information on how trades have gone using particular indicators and explaining the stock behavior it will greatly help people profit. One of the best ways to become a better trader is join a community of traders and exchange ideas. Indicators are great, but without learning to examine the stock behavior the indicators aren't as useful.

 

[bizzet]

How do I get the percent change between the reversals? @BenTen Also, @horserider @markos because you guys seem very knowledgeable on thinkscript.

 

[spencepuppy]

Hi Ben + all, do you still use this? If so, how has it held up for you?

 

[BenTen]

@spencepuppy No, I'm not using it anymore because it's a repainting indicator.

 

[FreefallJM03]

I figured out a scan that works great for what I do. Right now, I'm trying to find that watchlist code you sent me before for the watchlist using the Reversal Indicator. If I could set that up for my watchlist I'd be set pretty good, because most of the stocks I'm finding react in similar behavior using a daily chart, some also do well for hourly or less. It's the stock behavior that I look at once it shows up in a scanner, then I move it to my watchlist. Also, if a stock has a lot of purple signals, it is best to avoid that one. I don't remember if we were discussing that for the watchlist here or not. I'm just figuring out some stuff on the watchlist for customization and when you showed me that code before I couldn't get it in there, but now I can, but don't remember if I saved the watchlist coding for it. How did you learn Thinkorswim coding? Were you already in some other form of coding?

 

[BenTen]

@FreefallJM03 A watchlist column has been requested for this indicator by multiple members, but I've not seen one being made yet. Maybe it's not possible.

Check out this thread if you're interested in learning more about ThinkorSwim coding: https://usethinkscript.com/threads/is-there-a-course-on-thinkscript.682/

 

[randomx]

@Ozil you can change that on the code itself. find these three lines (first few lines at the very top) and adjust them to your needs

def superfast_length = 9;
def fast_length = 14;
def slow_length = 21;

 

[Dix]

I tried that, the scan comes back with, "Error: Trying to self-assing a non-initialized rec: state." I think it is truncated.

The scan works. Just increase the "within X bars". You may need to increase it to 3, 4 or 5. Just create a watchlist from the scan and set an alert for if there are any changes in the watchlist so you can see new stocks added.

 

[Blazin_Trails]

Hello everyone, been following this thread and just wanted to mention that I did get the scanner to work the other day and then got error messages on my 5MIN and 1DAY scans. However, the 15MIN worked fine. What I had to do was change the 5MIN to search within 7 bars, 15MIN within 5 bars, and 1D within 5 bars. Works for now until it doesn't Previously I had them at 3,5,3 I think or 3,5,2 and worked for a day then "broke" on the 5MIN and 1D. Hope that helps.

Interesting piece of information - I changed the 5MIN to be within 2 and it worked with extended hours enabled but did not work once I unticked it. I am wondering if the error is there because nothing matches the criteria and TOS just doesn't know what to return back so throws the error?

 

[FreefallJM03]

The scan works. Just increase the "within X bars". You may need to increase it to 3, 4 or 5. Just create a watchlist from the scan and set an alert for if there are any changes in the watchlist so you can see new stocks added.

I'd have to see how you set it up. It always comes back with errors for me.

 

[Robster021]

Hello, can someone please help me with adding an audible alert to the arrows in this script - thanks.

 

[dmillz]

The watchlist LAG with this script just called TOS support and they verified lol i have it on within 3 bars. on 5 min and 1 min chart. I want it to work