Repaints Trend Reversal for ThinkorSwim

[SleepyZ]

@9inemill According to the code:

plot Colorbars = if buysignal == 1 then 1 else if sellsignal == 1 then 2 else if buysignal == 0 or sellsignal == 0 then 3 else 0;
Colorbars.Hide();
Colorbars.DefineColor("Buy_Signal_Bars", Color.GREEN);
Colorbars.DefineColor("Sell_Signal_Bars", Color.RED);
Colorbars.DefineColor("Neutral", Color.PLUM);

Purple bubbles = neutral.

I don't think you can get sound alert for this indicator because of its repainting factor.

The following seems to work as a sound alert for this indicator:

#Alerts
input alerts = yes;
def bullish2 = if signal > 0 and signal[1] <= 0 then 1 else 0;
def bearish2 = if signal < 0 and signal[1] >= 0 then 1 else 0;
Alert(alerts and bullish2[1] == 1, "Up   ", Alert.BAR, Sound.Chimes);
Alert(alerts and bearish2[1] == 1, "Down ", Alert.BAR, Sound.Bell);

 

[rad14733]

@SleepyZ Sure, you can write it but the repaint will cause false Alerts... I have Alerts in my copy but had to turn them off and then just stopped using this Study altogether... I've tried a bunch of trend reversals and written an few but they just aren't all that reliable... The Fractal version is the most reliable of the bunch as I recall...

 

[Angry_Raven]

@BenTen - I'm trying to figure out how to get the scanner part working. I just want to scan for stocks that have recently shown a green reversal

 

[Branch]

@s1111 I was asking for a Label not the bubble.

 

[Godwin]

I find this script very helpful on the chart but I still can't get it to scan. I have a hard time getting scripts to scan in TOS. What am i doing wrong?

 

[rad14733]

I find this script very helpful on the chart but I still can't get it to scan. I have a hard time getting scripts to scan in TOS. What am i doing wrong?

How are you going about creating your scans and what errors are you receiving...??? I don't think this Study plays well with the scanner as has been covered previously...

 

[Godwin]

You are correct, to complex error

 

[andyrubie]

I tried to import your trend reversal indicator, it worked but the scanner didn't work. It won't allow me to save in scan tab. Can you send me code for trend reversal scanner that worked?

 

[BenTen]

@andyrubie Refer to the previous comment that @rad14733 posted above. I don't think it's going to work.

 

[Blazin_Trails]

@andyrubie @Godwin @rad14733 @BenTen @Angry_Raven

This is the code I have been using for the scanner. You have to remove the fibs otherwise it will give a complex error and not run. I also took out some alerts and plots, but the main two for the signals (bullish, bearish) are the ones you really need. I've only built the scanner on my end to search for S&P 500 stocks and for potential bullish signals. So in my scanner I'm looking for: UpArrow is true within 2 bars.

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 = signal > 0 and signal[1] <= 0;
plot upArrow = bullish2;
upArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
upArrow.SetDefaultColor(CreateColor(145, 210, 144));

def bearish2 = signal < 0 and signal[1] >= 0;
plot downArrow = bearish2;
downArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
downArrow.SetDefaultColor(CreateColor(255, 15, 10));

AddChartBubble(signal > 0 and signal[1] <= 0, if isUp then low else high, if signal > 0 and signal[1] <= 0 then "" + low else "" , Color.Lime, no);

AddChartBubble(signal < 0 and signal[1] >= 0, if IsUp then low else high, if signal < 0 and signal[1] >= 0 then "" + low else "" , Color.LIGHT_ORANGE, no);

 

[CaptainNORDO]

I really like this script, but is there any way to make the bubble show up to the Left of the candles? It always shows up and covers the current candle; driving me crazy....

 

[rad14733]

I really like this script, but is there any way to make the bubble show up to the Left of the candles? It always shows up and covers the current candle; driving me crazy....

@CaptainNORDO Please refer to the AddChartBubble() for your answer... The short answer is No... The Learning Center is your friend...

 

[BenTen]

@CaptainNORDO You can use this version with arrows instead of bubbles: https://tos.mx/vlVadom

 

[CaptainNORDO]

Ben 10 to the rescue!... Again!

@rad14733 Read that, it only shows how to make bubbles, doesn't show how to make them appear on one side or the other. So that's why I asked to see if anyone better than me had a solution. I'll start letting you guys know that I read something in the future.

 

[rad14733]

Ben 10 to the rescue!... Again!

@rad14733 Read that, it only shows how to make bubbles, doesn't show how to make them appear on one side or the other. So that's why I asked to see if anyone better than me had a solution. I'll start letting you guys know that I read something in the future.

What you found there was that it obviously can't be done, otherwise it would have been in the documentation... Go with the suggestion provided by @BenTen...

 

[CaptainNORDO]

What you found there was that it obviously can't be done, otherwise it would have been in the documentation... Go with the suggestion provided by @BenTen...

Oh, ok well thanks for your super helpful post, jackass. And nothing obvious about it, because it's a beginners bubble tutorial; I was hoping for something else that was maybe 1 level deeper so I asked sorry to bother the forum.... And I did go with Ben10's suggestion, as you can see by my post where I said "Ben 10 to the rescue!"

Switching you to ignore

 

[SleepyZ]

@CaptainNORDO, here is an example code I made to help further explain the addchartbubble function.

#Addchartbubble example on how to move a bubble in the right expansion area from side to side and up/down. The same movements can be applied to bubblles elsewhere on a chart. Also how to add text and data to a bubble.

input bubblemoverside_to_side = 3; #used to move the bubble left and right
def n = bubblemoverside_to_side;
def n1 = n + 1;
input bubblemover_updown = 2; #used to move the bubble up and down
AddChartBubble(IsNaN(close[n]),
close[n1] + TickSize() * bubblemover_updown,
"Enter Text Here\nEnter another line of text by using the \n forwardslash n (\ n) function" + "\nYou can add data eg " + close[n1],
Color.WHITE, yes);
#bubbles automatically stacked when reference to the same point on chart
AddChartBubble(IsNaN(close[n]),
close[n1] + TickSize() * bubblemover_updown,
"Enter Text Here\nEnter another line of text by using the \n forwardslash n (\ n) function" + "\nYou can add data eg " + close[n1],
Color.CYAN, yes);

As bubble orientation is not currently (although often requested of TOS) part of addchartbubble functtion, in regards to your trendreversal indicator bubble request, here is alternate way to place the bubbles at the topline or botline. You could also use the bubblemover_updown from above. https://tos.mx/z4NbIlj

 

[FreefallJM03]

@Godwin I had the same problem. Change your scan to a specific watchlist and the complex error will go away. Also, make sure the scan is set to within 3 bars. That should resolve the issue. If you have several watchlists, then duplicate the scan for each watchlist by saving the scan as a different name, then change it to scan that particular watchlist. If you look up just above the filters you'll see the "scan in:' selection which will show your various watchlists. That resolved that issue for me. Been working great ever since!

Question for the code geniuses. Have any of you heard of a reversal spiral? I see this on various stock charts, but is there a way to develop a scan for it? Or is that possibly already in this reversal scan?

 

[rad14733]

@FreefallJM03 Are you referring to using the Finonacci Spiral for calculating reversals...???

 

[FreefallJM03]

@FreefallJM03 Are you referring to using the Finonacci Spiral for calculating reversals...???

I believe that is what it is.