Repaints Trend Reversal for ThinkorSwim

Repaints
Status
Not open for further replies.
@vinora Here is the script with the alerts added

Code: 
# 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));

alert(bullish2[1], "Bull", Alert.BAR, Sound.Ring);
alert(bearish2[1], "Bear", Alert.BAR, Sound.Ding);
 
Guys...I've never imported a custom scan into the scanner before...I have a few questions in regards to the scan posted by @BLT in post #424...I watched the tutorial video but I am not sure IF that's how you do this...

Can someone tell me what conditions I need to add from the pic below because the tutorial video only showed "true"...Is this the case for EVERY scanner or are there different inputs for the conditions part? How do I know what to select? ALSO...IF I am trading on the 5 min chart I am assuming that I need to change the AGGREGATION part from D to whatever timeframe I am trading on for the scan to work? Or does the scan work better on certain types of AGGREGATIONS than others?

HUCiNAr.png


NEXT...there are two options for the scanner...UP arrow and DOWN arrow...when I select ADD Condition and I try to add the DOWN arrow I cannot hit OK button...and I get this error.

M9zWH7L.png


Is the proper remedy to add a second study filter and select custom then the indicator...followed by DOWN arrow to basically reflect this below:

4NUUgu9.png


Obviously nothing comes up now when I scan...I am assuming because the market is closed...I hope that I am not doing anything wrong on my end...Can someone please confirm what I am doing to be correct so that I can save this scan and finally know how to utilize them...Thanks.
 
@HighBredCloud When scanning for up/down signals, most likely, you will have to use the "true" condition. Due to the complexity of this script, you can only scan for one type of signal at a time (bullish or bearish). The setup that you have in the last picture is showing that you want to scan for both up and down arrows at the same time. I don't think that will yield any result.

Here is how I would set it up.

NBCEztY.png
 
@BenTen Thanks...OK...so basically what I need to do is make a separate scan for bullish and bearish...I was not aware of this. I am assuming that same would be true if I used a HULL scan that is positive or negative that I would also need two separate scans for that as well? Now as far as the Aggregation goes...the scan in your pic will scan for DAILY trend reversals to the UP side...IF I am trading a 5 min chart I am assuming just change that to the 5 min? Reason why I ask is that I recall having a conversation with TOS support and they said that scans tend to appear late sometimes up to 2-3 candlesticks late despite of the timeframe...making you miss the moves you're scanning for to begin with. This was more pertaining a scan I did for a MA cross over...
 
@HighBredCloud This indicator is not suitable for someone who just started using the ToS scanner. It has been mentioned from the start that this indicator repaint and how complex it its. As a result, you need to use a smaller watchlist (from that picture, you're using the "All Stocks" watchlist). If you want to scan for signals on the 5m chart, then change the timeframe from the scanner to 5m.
 
@BenTen Exactly right, and perhaps this is the reason why no signals show up for bullish/bearish scans across all aggregations. I ran those scans and checked. Like I mentioned much earlier, this study sure looks so good on hindsight, due to the "repainting" profile it has.
 
Good day, I'd like to change the scanner script below to a watchlist and on the watchlist I'd like to have the background colour of the cell be yellow or show 1 for buy signal. Can someone help please? Thanks.
 
I just added this indicator and I've notice a lot of false signals ? When wrong the reversal tag disappears all together ? Is anybody else getting this too ?
 
@Cut Throat Trader You should see the opposite. You should only see perfect signals. All the wrong reversal signals has disappear (note: the indicator will repaint so be cautious when using it).
 
In majority of pinning's I'm finding this to be an extremely accurate/decisive indicator on a 1000t chart may be a bar late or early but its great stuff
https://tos.mx/GfzAhpT. Along with the WT_LV_TV, upper indicator upperhttps://
tos.mx/DBWgOvD
as for confirmation provided by ES-STRATEGY on site.

Scanner on the first page of this thread or you can use the code below. It works as indicator and scanner.
Code: 
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));
 
Last edited by a moderator:
@BenTen is there a piece of code that I can add to this that only shows the last signal or the last 1-2 signals verse having them all over the chart?
 
Trading51 said:
@BenTen is there a piece of code that I can add to this that only shows the last signal or the last 1-2 signals verse having them all over the chart?
Click to expand...


@Trading51 Per your request I have modified this study to only display the last bullish/bearish signal. This should enable you to have cleaner charts

Code: 
# Trend Reversal Scanner
# Dixon72 with modifications by tomsk
# 1.18.2020
# Scanner by https://usethinkscript.com/u/theelderwand

# V1.0 - 11.09.2019 - Dixon72 - Initial release of Trend Reversal Scanner
# V1.1 - 01.18.2020 - tomsk   - Modified to only display last bullish/bearish signal

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 = if signal > 0 and signal[1] <= 0 then barNumber() else 0;
plot upArrow = if barNumber() == HighestAll(bullish2) then low * 0.994 else Double.NaN;
upArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
upArrow.SetLineWeight(5);
upArrow.SetDefaultColor(Color.CYAN);

def bearish2 = if signal < 0 and signal[1] >= 0 then barNumber() else 0;
plot downArrow = if barNumber() == HighestAll(bearish2) then high * 1.004 else Double.NaN;
downArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
downArrow.SetLineWeight(5);
downArrow.SetDefaultColor(Color.YELLOW);
 
tomsk said:
@Trading51 Per your request I have modified this study to only display the last bullish/bearish signal. This should enable you to have cleaner charts

Code: 
# Trend Reversal Scanner
# Dixon72 with modifications by tomsk
# 1.18.2020
# Scanner by https://usethinkscript.com/u/theelderwand

# V1.0 - 11.09.2019 - Dixon72 - Initial release of Trend Reversal Scanner
# V1.1 - 01.18.2020 - tomsk   - Modified to only display last bullish/bearish signal

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 = if signal > 0 and signal[1] <= 0 then barNumber() else 0;
plot upArrow = if barNumber() == HighestAll(bullish2) then low * 0.994 else Double.NaN;
upArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
upArrow.SetLineWeight(5);
upArrow.SetDefaultColor(Color.CYAN);

def bearish2 = if signal < 0 and signal[1] >= 0 then barNumber() else 0;
plot downArrow = if barNumber() == HighestAll(bearish2) then high * 1.004 else Double.NaN;
downArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
downArrow.SetLineWeight(5);
downArrow.SetDefaultColor(Color.YELLOW);
Click to expand...
This is for the scanner or the chart ? I was looking for it for the chart please let me know
 
Status
Not open for further replies.

New Indicator: Buy the Dip

Check out our Buy the Dip indicator and see how it can help you find profitable swing trading ideas. Scanner, watchlist columns, and add-ons are included.

Download the indicator

Thread starter Similar threads Forum Replies Date
BenTen Repaints Enhanced Trend Reversal Indicator for ThinkorSwim Indicators 122
BenTen Reversal Candles (Saikou / Hikui) Trend Change for ThinkorSwim Indicators 10
samer800 LNL Trend System for ThinkOrSwim Indicators 25
samer800 L3 Banker Fund Flow Trend Oscillator for ThinkOrSwim Indicators 33
samer800 Trend Meter For ThinkOrSwim Indicators 38

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
371 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support
Try VIP Club Today

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top