Repaints Trend Reversal for ThinkorSwim

[Alex]

I would really appreciate if somebody can make the indicator display the reversal signals as labels instead of the arrows / bubbles.

 

[marine]

try this

# Trend Reversal Scanner
# Scanner by https://usethinkscript.com/u/theelderwand
# Discuss https://usethinkscript.com/d/183-trend-reversal-indicator-with-signals-for-thinkorswim

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));

 

[Alex]

try this

# Trend Reversal Scanner
# Scanner by https://usethinkscript.com/u/theelderwand
# Discuss https://usethinkscript.com/d/183-trend-reversal-indicator-with-signals-for-thinkorswim

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));

It does not show labels...

 

[dreamscape25]

Can someone please help me out with this error? I pasted the code and the error message just popped up!

"At least one plot should be defined"

 

[Thomas]

@mikeraya Been using it for awhile.

 

[Thomas]

When you're day trading, you need all the edge you can get. One other tweak I have seen traders make is changing the superfast to 5. Lemme know how it works out for you!

FYI,....yes, looking for that slight edge, something that makes sense to "your," interpretation, I made an adjustment of 3, 8, 17,....will look into the "5,"

 

[Thomas]

Can someone please help me out with this error? I pasted the code and the error message just popped up!

"At least one plot should be defined"

Look through the script, near the bottom are two "plots,"...........use hashtag "#" to block one short or bullish script.....if you haven't found solution.

 

[dreamscape25]

zzz/BLT,.........can you help me learn and write this scan simpler, error message, "Too Complex." https://tos.mx/GvfXBE3
BTW, after many years I am using several of your creations as standards on every chart I use..........

I added the alert at the end and it doesn't seem to work? Any thoughts?

 

[Thomas]

Deleted

 

[dreamscape25]

The complexity of the script and somewhat unstable signals, make it not a good candidate for alerts. I have addded two different columns, but both are generating none precise signals. I mainly trade it visually when stocks are green explained in past threads...

Got it, thanks Thomas! Could you possibly link me to the page where stocks are green and explained?

 

[Thomas]

Got it, thanks Thomas! Could you possibly link me to the page where stocks are green and explained?

Not quite sure I understand, but try this as a custom column, on a universe of a watchlist and see how it colors, it's really an interpretive column, very complex. https://tos.mx/6UFi8fD

 

[dreamscape25]

Not quite sure I understand, but try this as a custom column, on a universe of a watchlist and see how it colors, it's really an interpretive column, very complex. https://tos.mx/6UFi8fD

This is just off topic question. I am relatively new to this platform so do you happen to know how to fast forward the back testing process? In other words, when you are at a specific time period and you want the chart to print tick by tick instead of having to wait. I see that there are two buttons, step forward and fast forward 3x, and when you click on them the chart just refreshes which is not what I would want to see.... just keep printing with a certain amount of speed? Thanks in advance!

 

[Thomas]

This is just off topic question. I am relatively new to this platform so do you happen to know how to fast forward the back testing process? In other words, when you are at a specific time period and you want the chart to print tick by tick instead of having to wait. I see that there are two buttons, step forward and fast forward 3x, and when you click on them the chart just refreshes which is not what I would want to see.... just keep printing with a certain amount of speed? Thanks in advance!

I don't use the Demand feature,.....apologize.......

 

[J-Fearless]

Anyone know of a way to modify this to have TOS play a sound effect whenever a stop loss is breached or a a new reversal bubble is created? Is that even possible in TOS? I know I can set up a price alert but I would have to continuously do so. Is there a way to script it in as part of the study?

 

[tutianlong]

it is quite accurate at 10min TF. how can i use it on app ? maybe a blue spike at Lower "box" when trend reverse up and red spike when trend reverse down ?

 

[Alex]

Still haven't found how to display the signals in labels... Any help?

 

[adam0100]

Any idea what I'm doing wrong when setting up the scanner?

com.devexperts.tos.thinkscript.runtime.TooComplexException: The complexity of the expression suggests that it may not be reliable with real-time data.

 

[BenTen]

@adam0100 Could be that your watchlist is too big or you're using too many conditions at the same time.

 

[PSK]

is it possible to get this indicator in a scan?

 

[PSK]

https://tos.mx/vlVadom having difficulty using this scan. Copied link and was unable to open in the scan tab. Any help is appreciated.