Repaints Trend Reversal for ThinkorSwim

[markos]

@mc01439 The concept of the RSI Laguerre and The Fractal Energy Indicator has been around for quite awhile.

I have seen a few variations of what you did. Your color scheme looks good. If it helps, that's great.

You can find variations of this study in the "Universe of Thinkscript", along with extensive notes on how to use it.

BTW, These two studies can be found in TradingView. FE is called Chop Indicator there.

Also, good job on the scripting, more creative than I am, for sure!

 

[markos]

Match the RSILg indicator with the Trend Reversal Indicator and it's probably a formidable day trading combo.

@BenTen , sorry I messed up this thread, I should have put the RSILg in it's own thread.

Using this indicator with Expected Move is a good package for weekly options, I am told.

 

[cherif]

@markos if you don't mind me asking, i understand the concept of the gamma and fractal energy but i cannot understand how the laguerre rsi would help especially in day trading. could you enlighten me plz. i am having hard time understanding the laguerre rsi. thanks

 

[theelderwand]

@BenTen This is the scanner that I was able to successfully setup : https://tos.mx/ace3eC

Give this a shot, I'll be trying this out tomorrow

 

[BenTen]

@theelderwand Well done. Worked for me. @ukwildcat1998 Please give it a try 😀

 

[hurricane5]

Hi all, new here...when I try to load @theelderwand version of the scanner, I get "Exactly one plot expected". Any ideas?

BTW, Great stuff!

 

[BenTen]

@hurricane5 Did you try to load it on a chart? If so, use the actual indicator above instead. This one should be loaded via the Scan tab instead.

 

[theelderwand]

@hurricane5 When you use it scanner use like the following

plot Data = TrendReversalScanner().upArrow or downArrow. There are two plots defined, choose wisely

 

[hurricane5]

@theelderwand @BenTen I ended up having to comment out the "bearish2 def" (and vice versa for bullish2) to allow it it save, but I'm not sure this is what you had intended. Is there another way that I should be loading to the scanner or should I end up creating 2 different custom scans?

 

[BenTen]

@hurricane5 It's fairly simple to do it. Add the code as an indicator (but do not use it on your chart since it's intended to be used in the Scan tab). Once you have it added, switch over to the Scanner section.

Click on Add Study Filter > Study > type in the name of the indicator > and select upArrow or downArrow.

Like this:

 

[hurricane5]

@BenTen Thanks very much! Was about to pull my hair out! LOL!

 

[markos]

@cherif Click on the link, thinkscript Universe, Search for Mobius in the search box under the indicators tab. There should be copious amounts of info there. Unfortunately, I do not day trade.

 

[ukwildcat1998]

@theelderwand Thanks guys. I appreciate your patience. I scanned against my watchlist of 50 stocks that I watch. It suggested MPC $47.42, NCLH $52.53, REGN $303.51. I like swing trades so I will check in a week to see if they were good buys.

 

[theelderwand]

@ukwildcat1998 Awesome to hear that. Can you share an actual scan list that shows results. Maybe that'll help folks readily consume

 

[ukwildcat1998]

Here is my scan.

 

[theelderwand]

@ukwildcat1998 Way to go buddy!! Glad to see this working and probably useful to someone. I got PANW and VMW in my alerts, will be placing a test stock buy on these.

 

[BenTen]

@ukwildcat1998 I'm currently using the higher TF signals as a direction for trend and lower TF for entry. I'll be testing a few different strategies around this indicator. Do let me know if you guys find anything cool.

 

[ukwildcat1998]

Here's my 6 month chart on screen 1 for MPC.

Here's my 1 year chart on screen 2.

 

[Falconuc]

Great site and great indicator, I appreciate your generous sharing. I downloaded the indicator scanner from

Ttheelderwand://tos.mx/ace3eC , but when I used it, giving me an Error: "Trying to self-assign a non-initialized rec : state."

Thanks in advance for any advice.

 

[theelderwand]

@Falconuc This means that you are using a very large scan set. Reduce it to a watchlist of stocks that you are intensive. As you can guess, this scanner is pretty CPU intensive. i have a scan list of 20 odd stocks and it works well. Hope this helps.