"Trifecta" Indicator For ThinkOrSwim

[PennyStockPump]

Hi all, I was curious if somebody could help me but together a "Trifecta" indicator based on a strategy I first saw from Trifecta Rick (https://twitter.com/twitwitrk). While not wanting to only use the indicator to take trades, I have seen that its a pretty significant indication of reversal trades.

What I was wanting to create was an upper indicator that would plot a vertical line when all three items have Crossovers within "x" amount of candles of each other (maybe 5?). I am open to ideas if it is just a vertical line or maybe a cloud-type look when all three indicators have confluence.

Here is the rather simple strategy using the ToS built-in indicators that is used on the 5 minute chart:

• 5 SMA and 13 SMA Crossver
• MACD Crossover
• Vortex Indicator Crossover

Thank you in advance for any help!

 

[Chemmy]

Hi all, I was curious if somebody could help me but together a "Trifecta" indicator based on a strategy I first saw from Trifecta Rick (https://twitter.com/twitwitrk). While not wanting to only use the indicator to take trades, I have seen that its a pretty significant indication of reversal trades.

What I was wanting to create was an upper indicator that would plot a vertical line when all three items have Crossovers within "x" amount of candles of each other (maybe 5?). I am open to ideas if it is just a vertical line or maybe a cloud-type look when all three indicators have confluence.

Here is the rather simple strategy using the ToS built-in indicators that is used on the 5 minute chart:

• 5 SMA and 13 SMA Crossver
• MACD Crossover
• Vortex Indicator Crossover

Thank you in advance for any help!

If all you're wanting is crossovers of the SMA, Vortex, and the Upsignal/Downsignal of the MACD, then this should be what you're looking for:

## Trying the trifecta thingy from twitter

input fast_len = 5;
input slow_len = 13;
input avgtype = averageType.SIMPLE;
input show_avglines = no;
input src = close;

# Moving averages
plot fastma = movingAverage(avgtype, src, fast_len);
fastma.sethiding(!show_avglines);

plot slowma = movingAverage(avgtype, src, slow_len);
slowma.sethiding(!show_avglines);

def maup = fastma crosses above slowma and fastma > slowma;
def madn = fastma crosses below slowma and fastma < slowma;

# Vortex section
input vortex_length = 14;

def trSum = sum(TrueRange(high, close, low), vortex_length);
def "VI+" = if trSum == 0 then 0 else sum(AbsValue(high - low[1]), vortex_length) / trSum;
def "VI-" = if trSum == 0 then 0 else sum(AbsValue(low - high[1]), vortex_length) / trSum;

def vortup = "VI+" crosses above "VI-" and "VI+" > "VI-";
def vortdn = "VI+" crosses below "VI-" and "VI+" < "VI-";

## MACD
input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
input averageType = AverageType.EXPONENTIAL;
input showBreakoutSignals = no;

def Value = MovingAverage(averageType, close, fastLength) - MovingAverage(averageType, close, slowLength);
def Avg = MovingAverage(averageType, Value, MACDLength);

def Diff = Value - Avg;
def zeroline = 0;

plot UpSignal = Diff crosses above ZeroLine ;
upsignal.setpaintingstrategy(paintingstrategy.boolean_arrow_up);
upsignal.setdefaultcolor(color.white);

plot DownSignal = Diff crosses below ZeroLine;
downsignal.setpaintingstrategy(paintingstrategy.boolean_arrow_down);
downsignal.setdefaultcolor(color.white);

UpSignal.SetHiding(!showBreakoutSignals);
DownSignal.SetHiding(!showBreakoutSignals);


## Combined sigs;
def trifecta_up = upsignal and vortup and maup;
plot triup = trifecta_up;
triup.setpaintingstrategy(paintingstrategy.boolean_arrow_up);
triup.setdefaultcolor(color.green);
triup.setlineweight(3);

def trifecta_dn = downsignal and vortdn and madn;
plot tridn = trifecta_dn;
tridn.setpaintingstrategy(paintingstrategy.boolean_arrow_down);
tridn.setdefaultcolor(color.red);
tridn.setlineweight(3);

# End

and here is the link:
http://tos.mx/n0hkDEe

I will be honest though, you'll probably need to set more flexible conditions such as letting these indicators fire within a candle or two of each other -- otherwise, it fires extremely rarely. Here's an example of SPX on the 15min, where it only fired once within a 30-day chart:

Is that what you had in mind? I only set it as arrows since you mentioned you wanted an upper indicator, but I did add the option to display the SMAs as well if that may help you stay in a trade.

 

[PennyStockPump]

If all you're wanting is crossovers of the SMA, Vortex, and the Upsignal/Downsignal of the MACD, then this should be what you're looking for:

## Trying the trifecta thingy from twitter

input fast_len = 5;
input slow_len = 13;
input avgtype = averageType.SIMPLE;
input show_avglines = no;
input src = close;

# Moving averages
plot fastma = movingAverage(avgtype, src, fast_len);
fastma.sethiding(!show_avglines);

plot slowma = movingAverage(avgtype, src, slow_len);
slowma.sethiding(!show_avglines);

def maup = fastma crosses above slowma and fastma > slowma;
def madn = fastma crosses below slowma and fastma < slowma;

# Vortex section
input vortex_length = 14;

def trSum = sum(TrueRange(high, close, low), vortex_length);
def "VI+" = if trSum == 0 then 0 else sum(AbsValue(high - low[1]), vortex_length) / trSum;
def "VI-" = if trSum == 0 then 0 else sum(AbsValue(low - high[1]), vortex_length) / trSum;

def vortup = "VI+" crosses above "VI-" and "VI+" > "VI-";
def vortdn = "VI+" crosses below "VI-" and "VI+" < "VI-";

## MACD
input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
input averageType = AverageType.EXPONENTIAL;
input showBreakoutSignals = no;

def Value = MovingAverage(averageType, close, fastLength) - MovingAverage(averageType, close, slowLength);
def Avg = MovingAverage(averageType, Value, MACDLength);

def Diff = Value - Avg;
def zeroline = 0;

plot UpSignal = Diff crosses above ZeroLine ;
upsignal.setpaintingstrategy(paintingstrategy.boolean_arrow_up);
upsignal.setdefaultcolor(color.white);

plot DownSignal = Diff crosses below ZeroLine;
downsignal.setpaintingstrategy(paintingstrategy.boolean_arrow_down);
downsignal.setdefaultcolor(color.white);

UpSignal.SetHiding(!showBreakoutSignals);
DownSignal.SetHiding(!showBreakoutSignals);


## Combined sigs;
def trifecta_up = upsignal and vortup and maup;
plot triup = trifecta_up;
triup.setpaintingstrategy(paintingstrategy.boolean_arrow_up);
triup.setdefaultcolor(color.green);
triup.setlineweight(3);

def trifecta_dn = downsignal and vortdn and madn;
plot tridn = trifecta_dn;
tridn.setpaintingstrategy(paintingstrategy.boolean_arrow_down);
tridn.setdefaultcolor(color.red);
tridn.setlineweight(3);

# End

and here is the link:
http://tos.mx/n0hkDEe

I will be honest though, you'll probably need to set more flexible conditions such as letting these indicators fire within a candle or two of each other -- otherwise, it fires extremely rarely. Here's an example of SPX on the 15min, where it only fired once within a 30-day chart:

Is that what you had in mind? I only set it as arrows since you mentioned you wanted an upper indicator, but I did add the option to display the SMAs as well if that may help you stay in a trade.

Awesome! This was exactly what I'd had in mind for an upper indicator! I completely agree with needing to set more flexible conditions for the different indicators to be able to fire within a few candles of each other. Is there a way to set that at 3 candles?

 

[Chemmy]

Awesome! This was exactly what I'd had in mind for an upper indicator! I completely agree with needing to set more flexible conditions for the different indicators to be able to fire within a few candles of each other. Is there a way to set that at 3 candles?

Sure, this should add a buffer range of candles for each signal, defaulted to 3 -- if say, a MACD crossover and vortex crossover happen any time within a three-candle range, the signal should still fire. one thing you may notice if you look at the code though, is that I didn't add the logic for the MA crossover, which I mainly did because

1. The simple moving averages are the slowest moving aspect of this study, and
2. With that logic added there were a LOT of false signals, even when lowering the buffer to 2.

if you want to change it back, you can -- it's just at the bottom of the code. Or, if you want the study to go back to how conservative the previous version was, just change the buffer value back to 1.

http://tos.mx/vAB7XxF

 

[Gssound]

anyway to be able to have this in a watchlist, with a green (buy signal) or red (sell signal) and have a count of number of candles elapsed since signal (time frame can be set, default should be 5 min candles) @Chemmy

 

[MerryDay]

anyway to be able to have this in a watchlist, with a green (buy signal) or red (sell signal) and have a count of number of candles elapsed since signal (time frame can be set, default should be 5 min candles) @Chemmy

Watchlist Script

# Watchlist Version
## Trying the trifecta thingy from twitter

input fast_len = 5;
input slow_len = 13;
input avgtype = averageType.SIMPLE;
input show_avglines = no;
input src = close;

# Moving averages
plot fastma = movingAverage(avgtype, src, fast_len);
fastma.sethiding(!show_avglines);

plot slowma = movingAverage(avgtype, src, slow_len);
slowma.sethiding(!show_avglines);

def maup = fastma crosses above slowma and fastma > slowma;
def madn = fastma crosses below slowma and fastma < slowma;

# Vortex section
input vortex_length = 14;

def trSum = sum(TrueRange(high, close, low), vortex_length);
def "VI+" = if trSum == 0 then 0 else sum(AbsValue(high - low[1]), vortex_length) / trSum;
def "VI-" = if trSum == 0 then 0 else sum(AbsValue(low - high[1]), vortex_length) / trSum;

def vortup = "VI+" crosses above "VI-" and "VI+" > "VI-";
def vortdn = "VI+" crosses below "VI-" and "VI+" < "VI-";

## MACD
input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
input averageType = AverageType.EXPONENTIAL;
input showBreakoutSignals = no;

def Value = MovingAverage(averageType, close, fastLength) - MovingAverage(averageType, close, slowLength);
def Avg = MovingAverage(averageType, Value, MACDLength);

def Diff = Value - Avg;
def zeroline = 0;

def UpSignal = Diff crosses above ZeroLine ;
def DownSignal = Diff crosses below ZeroLine;

## Combined sigs;
def trifecta_up = upsignal and vortup and maup;
plot triup = trifecta_up;
triup.setpaintingstrategy(paintingstrategy.boolean_arrow_up);
triup.setdefaultcolor(color.blue);
triup.setlineweight(3);

def trifecta_dn = downsignal and vortdn and madn;
plot tridn = trifecta_dn;
tridn.setpaintingstrategy(paintingstrategy.boolean_arrow_down);
tridn.setdefaultcolor(color.magenta);
tridn.setlineweight(3);

def bar = barNumber();

def stateUp = trifecta_up;
def stateDn = trifecta_dn;
def transitionBull = stateup[1]==0 and stateup==1;
def transitionBear = statedn[1]==0 and stateDn==1;
def transitionBar = if transitionBull or transitionBear
                    then bar
                    else transitionBar[1];
def BullBar = if transitionBull then bar else if transitionBear then 0 else BullBar[1];
def BearBar = if transitionBear then bar else if transitionBull then 0 else BearBar[1];
def transitionPrice = if bar == HighestAll(transitionBar)
                      then close
                      else transitionPrice[1];

def BullBarsAgo = if bar != BullBar
                 then bar - BullBar
                 else if bar == BullBar
                      then Double.NaN
                 else BullBar[1];
def BearBarsAgo = if bar != BearBar
                 then bar - BearBar
                 else if bar == BearBar
                      then Double.NaN
                 else BearBar[1];



AddLabel(yes,
if BullBar then "Bulls started: " + BullBarsAgo + " bars ago " else
if BearBar then "Bears started: " + BearBarsAgo + " bars ago " else " ");

AssignbackgroundColor(
if BullBar then color.green else
if BearBar then color.red else color.light_gray);


# End