Trend Strength Signals [AlgoAlpha] For ThinkOrSwim

[lovetotrade20024]

The author states:
Introducing the Trend and Strength Signals indicator by AlgoAlpha!

This indicator calculates the moving average and standard deviation of the closing price over a customizable period to identify the upper and lower bounds. When the price crosses these bounds, it signals an uptrend or downtrend. The gauge measures market strength by comparing the price to the moving average and scaling it over a customizable range, while the underlying logic uses concepts from the Bollinger Bands, this indicator gives a unique perspective on price behavior through added features and signals derived from it.

please convert
https://www.tradingview.com/v/7NIERkQE/

mod note:
find the ToS script in the next post

 

[samer800]

https://www.tradingview.com/v/7NIERkQE/

indicator("Trend Strength Signals [AlgoAlpha]", "AlgoAlpha - 𝑻𝒓𝒆𝒏𝒅 𝑺𝒕𝒓𝒆𝒏𝒈𝒕𝒉", true)
c = input.bool(true, "Enable Cloud")
lenn = input.int(20, "Period")
mult = input.float(2.5, "Standard Deviation Multiplier for TP")
tc = input.int(25, "Gauge Size", minval = 3)
upColor = input.color(#00ffbb, "Up Color")
downColor = input.color(#ff1100, "Down Color")
// Guage Function
t = table.new(position.middle_right, 3, tc+1),
printTable(txt, col, row, color, txt1, col1, row1, color1) =>
table.cell(t, col, row, txt, bgcolor = color),
table.cell(t, col1, row1, txt1, bgcolor = color1, text_color = color.white)
len = lenn
src = close
basis = ta.sma(src, lenn)
upper = basis + ta.stdev(src, len, true)
lower = basis - ta.stdev(src, len, true)
upper1 = basis + ta.stdev(src, len, true) * mult
lower1 = basis - ta.stdev(src, len, true) * mult
var trend = 0
if src > basis and src > upper
trend := 1
if src < basis and src < lower
trend := -1
pu=plot(upper, "upper Line", color.new(chart.fg_color, 80), display = c ? display.all : display.none)
pl=plot(lower, "lower Line", color.new(chart.fg_color, 80), display = c ? display.all : display.none)
barcolor(src > upper ? upColor : src < lower ? downColor : chart.fg_color)
grad = math.abs(basis-src)/(ta.highest(basis-src, 200))*100
grad1 = math.min(grad,40)
grad1 := 100-grad1
xMax = 100
xMin = 0
range_ = xMax - xMin
y = 1 - grad / range_
y := y > 100 ? 100 : y < 0 ? 0 : y
fill(pu, pl, color.new(chart.fg_color, ta.sma(grad1, 7)), "Trend Fill", display = c ? display.all : display.none)
plotshape(ta.crossover(trend, 0), "Bullish Trend", shape.labelup, location.belowbar, upColor, text = "▲", textcolor = chart.fg_color)
plotshape(ta.crossunder(trend, 0), "Bearish Trend", shape.labeldown, location.abovebar, downColor, text = "▼", textcolor = chart.fg_color)
plotchar(ta.crossover(src, lower1), "Short TP", "X", location.belowbar, upColor, size = size.tiny)
plotchar(ta.crossunder(src, upper1), "Long TP", "X", location.abovebar, downColor, size = size.tiny)
// Draw Gauge
for i = 1 to tc
color_ = chart.fg_color
color = color.from_gradient(i, 1, tc, src > basis ? upColor : downColor, color_)
printTable("", 1, i, color, ">", 1, math.round(y*tc), #ffffff00)
///////Alerts
alertcondition(ta.crossover(trend, 0), "Bullish Trend")
alertcondition(ta.crossunder(trend, 0), "Bearish Trend")
alertcondition(ta.crossover(src, lower1), "Short TP")
alertcondition(ta.crossunder(src, upper1), "Long TP")

check the below:

#indicator("Trend Strength Signals [AlgoAlpha]", "AlgoAlpha - 𝑻𝒓𝒆𝒏𝒅 𝑺𝒕𝒓𝒆𝒏𝒈𝒕𝒉", true)
# converted by Sam4Cok@Samer800    - 06/2024

input showGauge = yes; #, "Gauge Size", minval = 3)
input colorBars = yes;
input movAvgType = AverageType.SIMPLE;
input src = close;
input enableBand  = no;
input enableCloud = yes; #, "Enable Cloud")
input Period = 20; #, "Period")
input StandardDeviationMultiplier = 2.5; #, "Standard Deviation Multiplier for TP")


def na = Double.NaN;
def last = IsNaN(close);

def basis = MovingAverage(movAvgType, src, Period);
def stdv = StDev(src, Period);
def upper = basis + stdv;
def lower = basis - stdv;

def upper1 = basis + stdv * StandardDeviationMultiplier;
def lower1 = basis - stdv * StandardDeviationMultiplier;

def trend = if src > basis and src > upper then 1 else
            if src < basis and src < lower then -1 else trend[1];

def bgCol = if src > upper then 1 else if src < lower then -1 else 0;

def pUp = if enableCloud then upper else na; # "upper Line"
def pLo = if enableCloud then lower else na; # "lower Line"

def trndBull = (trend crosses above 0); # "Bullish Trend"
def trndBear = (trend crosses below 0); # "Bearish Trend"
def exitShort = (src crosses above lower1); # "Short TP"
def exitLong  = (src crosses below upper1); # "Long TP",

def diff = basis - src;
def hDiff = Highest(diff, 200);
def grad = AbsValue(diff) / hDiff * 100;
def y0 = if isNaN(grad) then 0 else if grad > 100 then 100 else if grad < 0 then 0 else grad;
def y  = y0 * 2.55;
def rndY = Round(y0, 0) ;

#-- plots
plot upBand = if enableBand then upper1 else na;
plot dnBand = if enableBand then lower1 else na;
plot baseLine = if enableBand then basis else na;

upBand.SetDefaultColor(Color.DARK_GREEN);
dnBand.SetDefaultColor(Color.DARK_RED);
baseLine.SetDefaultColor(Color.GRAY);

AddCloud(pUp, pLo, Color.GRAY, Color.GRAY, no);

#-- Signals
plot extLong = if exitLong then high else na;
plot extShort = if exitShort then low else na;
extLong.SetPaintingStrategy(PaintingStrategy.BOOLEAN_WEDGE_UP);
extShort.SetPaintingStrategy(PaintingStrategy.BOOLEAN_WEDGE_DOWN);
extLong.SetDefaultColor(Color.CYAN);
extShort.SetDefaultColor(Color.MAGENTA);

AddChartBubble(trndBull, low, "B", Color.GREEN, no);
AddChartBubble(trndBear, high, "S", Color.RED);

#-- bar color
AssignPriceColor(if !colorBars then Color.CURRENT else
                 if bgCol > 0 then Color.UPTICK else
                 if bgCol < 0 then Color.DOWNTICK else Color.WHITE);


AddLabel(showGauge , "Trend Strength: " + (if diff < 0 then "Up (" else "Dn (") + rndY + "%)",
           if diff < 0 then CreateColor(255 - y, 255, 255) else CreateColor(255 , 255 - y, 255));
#-#-- end of CODE

 

[Richard Lamkin]

The author states:
Introducing the Trend and Strength Signals indicator by AlgoAlpha!

This indicator calculates the moving average and standard deviation of the closing price over a customizable period to identify the upper and lower bounds. When the price crosses these bounds, it signals an uptrend or downtrend. The gauge measures market strength by comparing the price to the moving average and scaling it over a customizable range, while the underlying logic uses concepts from the Bollinger Bands, this indicator gives a unique perspective on price behavior through added features and signals derived from it.

please convert
https://www.tradingview.com/v/7NIERkQE/

mod note:
find the ToS script in the next post

Can you please provide the TOS link / code...Thanks

 

[useThinkScript]

Can you please provide the TOS link...Thanks

You will find that the majority of the thousands of indicators on this forum, do not have a ToS link.
Most of the indicators have to be copied and then pasted into the study tab of the ToS desktop platform.
To find the code to be copied in this thread:
https://usethinkscript.com/threads/...-algoalpha-for-thinkorswim.18941/#post-143415

Here is a tutorial on how to copy & paste:
https://usethinkscript.com/threads/how-to-import-existing-thinkscript-code-on-thinkorswim.10/

Come back and tell the community, how it goes? if you have any other difficulties? and what everyone wants to know!!!
How does this indicator enhance your trading strategy?

Cheers,

 

[uplink]

For your watchlist

input Period = 20;

input movAvgType = AverageType.exponential;
#input movAvgType = AverageType.SIMPLE;

def basis = MovingAverage(movAvgType, close, Period);
def stdv = StDev(close, Period);
def upper = basis + stdv;
def lower = basis - stdv;

def trend = if close > basis and close > upper then 1 else if close < basis and close < lower then -1 else trend[1];

def trndBull = (trend crosses above 0);
def trndBear = (trend crosses below 0);

def signal = if trndBull then 1 else if trndBear then -1 else 0;

AddLabel(yes,
    if signal == 1 then "Buy" else
    if signal == -1 then "Sell" else
    if trend == 1 then "Bullish" else
    if trend == -1 then "Bearish" else "Neutral",
    if signal == 1 then Color.GREEN else
    if signal == -1 then Color.RED else
    if trend == 1 then Color.GREEN else
    if trend == -1 then Color.RED else Color.GRAY
);

 

[Mattyb740]

For your watchlist

input Period = 20;

input movAvgType = AverageType.exponential;
#input movAvgType = AverageType.SIMPLE;

def basis = MovingAverage(movAvgType, close, Period);
def stdv = StDev(close, Period);
def upper = basis + stdv;
def lower = basis - stdv;

def trend = if close > basis and close > upper then 1 else if close < basis and close < lower then -1 else trend[1];

def trndBull = (trend crosses above 0);
def trndBear = (trend crosses below 0);

def signal = if trndBull then 1 else if trndBear then -1 else 0;

AddLabel(yes,
    if signal == 1 then "Buy" else
    if signal == -1 then "Sell" else
    if trend == 1 then "Bullish" else
    if trend == -1 then "Bearish" else "Neutral",
    if signal == 1 then Color.GREEN else
    if signal == -1 then Color.RED else
    if trend == 1 then Color.GREEN else
    if trend == -1 then Color.RED else Color.GRAY
);

At the end of your code there is an invalid statement with “add label “

How can I edit in order to use the study ?

 

[useThinkScript]

At the end of your code there is an invalid statement with “add label “

How can I edit in order to use the study ?

You did not provide enough information to determine where you went astray.
Using the below watchlist code in a chart as a label does not throw an error.

Here is another approach.
This is a shared chart link: http://tos.mx/!3ChxeynX
You must follow these instructions to load this link:
https://usethinkscript.com/threads/...ed-item-error-in-thinkorswim.5098/#post-57930

Importing the above link will open a chart with this label applied.
It also puts the indicator into your library.

Watchlist Column Script which can also be used as a chart label

input Period = 20;

input movAvgType = AverageType.exponential;
#input movAvgType = AverageType.SIMPLE;

def basis = MovingAverage(movAvgType, close, Period);
def stdv = StDev(close, Period);
def upper = basis + stdv;
def lower = basis - stdv;

def trend = if close > basis and close > upper then 1 else if close < basis and close < lower then -1 else trend[1];

def trndBull = (trend crosses above 0);
def trndBear = (trend crosses below 0);

def signal = if trndBull then 1 else if trndBear then -1 else 0;

AddLabel(yes,
    if signal == 1 then "Buy" else
    if signal == -1 then "Sell" else
    if trend == 1 then "Bullish" else
    if trend == -1 then "Bearish" else "Neutral",
    if signal == 1 then Color.GREEN else
    if signal == -1 then Color.RED else
    if trend == 1 then Color.GREEN else
    if trend == -1 then Color.RED else Color.GRAY
);