Trend Score Indicator for ThinkorSwim

[BenTen]

A simple indicator that tries to identify the current trend.

• Red = bearish
• Green = bullish
• White = neutral

If you don't like either the paintbars or the lower study (histogram), you can always get rid of it by placing "#" in front of the function or delete it entirely from the code.

# Simple Trend Score
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/ViXoUfeL/

declare lower;

def TrendScore = if(close >= close[11], 1, -1) + if(close >= close[12], 1, -1) + if(close >= close[13], 1, -1) + if(close >= close[14], 1, -1) + if(close >= close[15], 1, -1) + if(close >= close[16], 1, -1) + if(close >= close[17], 1, -1) + if(close >= close[18], 1, -1) + if(close >= close[19], 1, -1) + if(close >= close[20], 1, -1);

def col1= TrendScore>5;
def col2= TrendScore<-5;

plot histogram = TrendScore;
histogram.assignValueColor(if col1 then Color.Green else if Col2 then Color.Red else Color.White);

assignPriceColor(if col1 then Color.Green else if Col2 then Color.Red else Color.White);

 

[mc01439]

Real nice @BenTen I love simple, added labels and commented out the plot and color bars. Thank You for posting.

 

[Tanp82]

Real nice @BenTen I love simple, added labels and commented out the plot and color bars. Thank You for posting.

did you turn this one into labels? if so can you share it please? thanks

 

[mc01439]

@Tanp82
Here is the label you requested. I use it as a combo label as you can see in attached chart. You can turn one or both off if you wish.

https://tos.mx/iuxMaP0

 

[tomsk]

@BenTen Here is the study from post #1 updated to use fold rather than hard code multiple tests of different periods. The results are the same

# Simple Trend Score
# Assembled by BenTen at useThinkScript.com
# Modified by tomsk, 1.23.2020
# Converted from https://www.tradingview.com/script/ViXoUfeL/

declare lower;

def TrendScore = fold i = 11 to 21
                 with p
                 do p + if close >= GetValue(close, i) then 1 else if close < GetValue(close, i) then -1 else 0;
def col1 = TrendScore >  5;
def col2 = TrendScore < -5;

plot histogram = TrendScore;
histogram.assignValueColor(if col1 then Color.Green else if Col2 then Color.Red else Color.White);

assignPriceColor(if col1 then Color.Green else if Col2 then Color.Red else Color.White);
# End Simple Trend Score

 

[BenTen]

@tomsk Thank you, Tom. That’s another way to do it.

 

[tomsk]

@BenTen When I first looked at your code structure, it seemed that fold could do the same job and so I had a go with that. Initially I ran into boundary conditions and was unable to get the exact same value as yours. I reached out to some external resources, had a second pair of eyes look at this, made the corrections, tested it for correlated values with your version and they all match up now. A good learning experience that's for sure

 

[BenTen]

@tomsk Well done. I’m not familiar with fold but your code was a good introduction for me.

 

[tomsk]

Fold is actually quite a difficult concept to clear, at least for me. It does take quite a bit of experience and practice. I have written maybe about a dozen or so simple fold studies and still have a long way to go. There was actually a real good tutorial on fold() that ThinkScripter wrote years ago. I emailed him about 2 years ago and he mentioned he had since then taken it down from that site. Meanwhile we do what we can.

 

[mini]

@mc01439 Hi, what indicator is the red zone and the green zone? Do you mind to share the link of the entire chart?

 

[mc01439]

@mc01439 Hi, what indicator is the red zone and the green zone? Do you mind to share the link of the entire chart?

@mini - That was a test chart - will go back and see if I can locate.

 

[mini]

@mini - That was a test chart - will go back and see if I can locate.

Thank you!

 

[jezzer47]

Any way we can get a mutli time frame version? Thanks for the script.

(imo for better use on TOS mobile just tap plot settings and change draw as to histogram.)

 

[Jonas99]

@BenTen Here is the study from post #1 updated to use fold rather than hard code multiple tests of different periods. The results are the same

# Simple Trend Score
# Assembled by BenTen at useThinkScript.com
# Modified by tomsk, 1.23.2020
# Converted from https://www.tradingview.com/script/ViXoUfeL/

declare lower;

def TrendScore = fold i = 11 to 21
                 with p
                 do p + if close >= GetValue(close, i) then 1 else if close < GetValue(close, i) then -1 else 0;
def col1 = TrendScore >  5;
def col2 = TrendScore < -5;

plot histogram = TrendScore;
histogram.assignValueColor(if col1 then Color.Green else if Col2 then Color.Red else Color.White);

assignPriceColor(if col1 then Color.Green else if Col2 then Color.Red else Color.White);
# End Simple Trend Score

Hi @tomsk thanks for all the good posts and I always learn something after reading them. I have a Swing HL study modified by you from Robert Payne's script that I am using. Is there a way to limit the arrows showing up everywhere on different time frames and cluttering the chart? Ideally, limit the arrows to the last 6? I am showing a chart here, thanks so much. Happy 4th July!

https://imgur.com/a/rRpmQeY

 

[ktp]

Hi @tomsk thanks for all the good posts and I always learn something after reading them. I have a Swing HL study modified by you from Robert Payne's script that I am using. Is there a way to limit the arrows showing up everywhere on different time frames and cluttering the chart? Ideally, limit the arrows to the last 6? I am showing a chart here, thanks so much. Happy 4th July!

https://imgur.com/a/rRpmQeY

Can you share you charts above? I like it and would like to try out the setup. Thanks.

 

[owensan02]

Hello Ben, is there a way to turn this into a watchlist/scanner? Like if a stock turns from white to green on a daily chart then it shows up in the scanner? Thanks

 

[MerryDay]

@ownensan02 It 'should' work. Load the script into your watch list.

#Change this:
assignPriceColor(if col1 then Color.Green else if Col2 then Color.Red else Color.White);

#To this:
assignBackgroundColor(if col1 then Color.Green else if Col2 then Color.Red else Color.White);

I didn't test it. Let us know

 

[owensan02]

@ownensan02 It 'should' work. Load the script into your watch list.

#Change this:
assignPriceColor(if col1 then Color.Green else if Col2 then Color.Red else Color.White);

#To this:
assignBackgroundColor(if col1 then Color.Green else if Col2 then Color.Red else Color.White);

I didn't test it. Let us know

Hello MerryDay, thank you for taking the time to do this. It seems its getting stuck on the "col1", "Col2", "col1" and "Col2"

 

[MerryDay]

Trend Score Indicator Watch List

# Simple Trend Score
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/ViXoUfeL/

declare lower;

plot TrendScore = if(close >= close[11], 1, -1) + if(close >= close[12], 1, -1) + if(close >= close[13], 1, -1) + if(close >= close[14], 1, -1) + if(close >= close[15], 1, -1) + if(close >= close[16], 1, -1) + if(close >= close[17], 1, -1) + if(close >= close[18], 1, -1) + if(close >= close[19], 1, -1) + if(close >= close[20], 1, -1);

def col1= TrendScore>5;
def col2= TrendScore<-5;

assignbackgroundColor(if col1 then Color.Green else if Col2 then Color.Red else Color.White);

Shared Link: http://tos.mx/3gYQnk9
Easiest way to load shared links
@owensan02 The script works in the watch list w/o errors. So I am thinking it is user error. Try loading the shared link if you are still having trouble.

 

[owensan02]

Trend Score Indicator Watch List

# Simple Trend Score
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/ViXoUfeL/

declare lower;

plot TrendScore = if(close >= close[11], 1, -1) + if(close >= close[12], 1, -1) + if(close >= close[13], 1, -1) + if(close >= close[14], 1, -1) + if(close >= close[15], 1, -1) + if(close >= close[16], 1, -1) + if(close >= close[17], 1, -1) + if(close >= close[18], 1, -1) + if(close >= close[19], 1, -1) + if(close >= close[20], 1, -1);

def col1= TrendScore>5;
def col2= TrendScore<-5;

assignbackgroundColor(if col1 then Color.Green else if Col2 then Color.Red else Color.White);

Shared Link: http://tos.mx/3gYQnk9
Easiest way to load shared links
@owensan02 The script works in the watch list w/o errors. So I am thinking it is user error. Try loading the shared link if you are still having trouble.

Ok perfect, thank you so much!