Twiggs Money Flow Indicator for ThinkorSwim

[germanburrito]

I seen people talk about the Twiggs Money Flow but I could not find it any where, so here is a version of it.

declare lower;
input periods = 21;
input over_Bought = .20;
input over_Sold = -.20;


def C = close;

def H = high;

def L = low;

def V = volume;

def TRH = Max(H,C[1]);

def TRL = Min(L, C[1]);

def TR = TRH - TRL;

def ADV =((C-TRL)-(TRH-C))/ (If TR == 0 then 999999 else TR) * V;

plot NewCMF = if WildersAverage(V,periods) == 0 

              then 0

              else WildersAverage(ADV, periods) / WildersAverage(V, periods);  

plot ZeroLine = 0;

ZeroLine.SetDefaultColor(GetColor(5));                 

plot OverSold = over_Sold;
plot OverBought = over_Bought;

NewCMF.DefineColor("OverBought", GetColor(5));
NewCMF.DefineColor("Normal", GetColor(7));
NewCMF.DefineColor("OverSold", GetColor(1));
NewCMF.AssignValueColor(if  NewCMF > over_Bought then  NewCMF.color("OverBought") else if  NewCMF < over_Sold then  NewCMF.color("OverSold") else  NewCMF.color("Normal"));

 

[henry1224]

Hello German,

I added a moving average to the CMF as a signal, also added a cloud

###################

declare lower;
input periods = 21;
Input LengthA = 5;
input over_Bought = .20;
input over_Sold = -.20;


def C = close;

def H = high;

def L = low;

def V = volume;

def TRH = Max(H,C[1]);

def TRL = Min(L, C[1]);

def TR = TRH - TRL;

def ADV =((C-TRL)-(TRH-C))/ (If TR == 0 then 999999 else TR) * V;

plot NewCMF = if WildersAverage(V,periods) == 0 

              then 0

              else WildersAverage(ADV, periods) / WildersAverage(V, periods); 
Plot NewCMFA = ExpAverage(NewCMF,LengthA); 
NewCMFA.SetDefaultColor(Color.Yellow);
plot ZeroLine = 0;
AddCloud(NewCMF,Zeroline,Color.Green,Color.Red);
ZeroLine.SetDefaultColor(color.gray);                 

plot OverSold = over_Sold;
OverSold.SetDefaultColor(Color.Orange);
OverSold.SetPaintingStrategy(PaintingStrategy.Dashes);
plot OverBought = over_Bought;
OverBought.SetDefaultColor(Color.Orange);
OverBought.SetPaintingStrategy(PaintingStrategy.Dashes);

NewCMF.DefineColor("OverBought", GetColor(5));
NewCMF.DefineColor("Normal", GetColor(7));
NewCMF.DefineColor("OverSold", GetColor(1));
NewCMF.AssignValueColor(if  NewCMF > over_Bought then  NewCMF.color("OverBought") else if  NewCMF < over_Sold then  NewCMF.color("OverSold") else  NewCMF.color("Normal"));
NewCMF.SetLineweight(3);

I have created your money flow indicator into a binary signal w 3 MTF. The triangles are Cyan if the MF is Bullish, Red when overbought, Magenta when Bearish and Green when oversold

Here is the code

##############
Declare Lower;
DefineGlobalColor("Bullish", Color.Cyan);
DefineGlobalColor("Bearish", Color.Magenta);
DefineGlobalColor("OverSold", Color.Green);
DefineGlobalColor("OverBought", Color.Red);
DefineGlobalColor("Normal", Color.Gray);

input agg1 = AggregationPeriod.FIVE_MIN;
input agg2 = AggregationPeriod.Thirty_MIN;
input agg3 = AggregationPeriod. Hour;
input periods = 21;
Input LengthA = 5;
input over_Bought = .20;
input over_Sold = -.20;
input show_dots=yes;
input DotSize = 3;

Def AC = Close(Period = Agg1);
Def BC = Close(Period = Agg2);
Def CC = Close(Period = Agg3);
Def AH = High(Period = Agg1);
Def BH = High(Period = Agg2);
Def CH = High(Period = Agg3);
Def AL = Low(Period = Agg1);
Def BL = Low(Period = Agg2);
Def CL = Low(Period = Agg3);
Def AV = Volume(Period = Agg1);
Def BV = Volume(Period = Agg2);
Def CV = Volume(Period = Agg3);

def ATRH = Max(AH,AC[1]);
def BTRH = Max(BH,BC[1]);
def CTRH = Max(CH,CC[1]);
def ATRL = Min(AL, AC[1]);
def BTRL = Min(BL, BC[1]);
def CTRL = Min(CL, CC[1]);

def TRa = ATRH - ATRL;
def TRb = BTRH - BTRL;
def TRc = CTRH - CTRL;

def AADV =((AC-ATRL)-(ATRH-AC))/ (If TRa == 0 then 999999 else TRa) * AV;
def BADV =((BC-BTRL)-(BTRH-BC))/ (If TRb == 0 then 999999 else TRb) * BV;
def CADV =((CC-CTRL)-(CTRH-CC))/ (If TRc == 0 then 999999 else TRc) * CV;

Def ANewCMF = if WildersAverage(AV,periods) == 0 
              then 0
              else WildersAverage(AADV, periods) / WildersAverage(AV, periods); 
Def BNewCMF = if WildersAverage(BV,periods) == 0 
              then 0
              else WildersAverage(BADV, periods) / WildersAverage(BV, periods); 
Def CNewCMF = if WildersAverage(CV,periods) == 0 
              then 0
              else WildersAverage(CADV, periods) / WildersAverage(CV, periods); 

Def ANewCMFA = ExpAverage(ANewCMF,LengthA);
Def BNewCMFA = ExpAverage(BNewCMF,LengthA); 
Def CNewCMFA = ExpAverage(CNewCMF,LengthA); 
Def ZeroLine = 0;
plot ANewCMF_Dot = if IsNaN(AC) then Double.NaN else 1;
ANewCMF_Dot.SetPaintingStrategy(PaintingStrategy.TRIANGLES);
ANewCMF_Dot.SetLineWeight(DotSize);
ANewCMF_Dot.AssignValueColor(if ANewCMF> Over_Bought && ANewCMF >ANewCMFA then GlobalColor("OverBought") else  if ANewCMF< Over_Sold && ANewCMF <ANewCMFA then GlobalColor("OverSold") else  if ANewCMF> ZeroLine then GlobalColor("Bullish") else If ANewCMF< ZeroLine then GlobalColor("Bearish") else GlobalColor(“Normal”));
plot BNewCMF_Dot = if IsNaN(BC) then Double.NaN else 2;
BNewCMF_Dot.SetPaintingStrategy(PaintingStrategy.TRIANGLES);
BNewCMF_Dot.SetLineWeight(DotSize);
BNewCMF_Dot.AssignValueColor(if BNewCMF> Over_Bought && BNewCMF >BNewCMFA then GlobalColor("OverBought") else  if BNewCMF< Over_Sold && BNewCMF <BNewCMFA then GlobalColor("OverSold") else  if BNewCMF> ZeroLine then GlobalColor("Bullish") else If BNewCMF< ZeroLine then GlobalColor("Bearish") else GlobalColor(“Normal”));
plot CNewCMF_Dot = if IsNaN(CC) then Double.NaN else 3;
CNewCMF_Dot.SetPaintingStrategy(PaintingStrategy.TRIANGLES);
CNewCMF_Dot.SetLineWeight(DotSize);
CNewCMF_Dot.AssignValueColor(if CNewCMF> Over_Bought && CNewCMF >CNewCMFA then GlobalColor("OverBought") else  if CNewCMF< Over_Sold && CNewCMF <CNewCMFA then GlobalColor("OverSold") else  if CNewCMF> ZeroLine then GlobalColor("Bullish") else If CNewCMF< ZeroLine then GlobalColor("Bearish") else GlobalColor(“Normal”));

 

[zeek]

An image of the indicator would be nice

 

[germanburrito]

thank you so much @henry1224, cant wait to try it.

 

[MerryDay]

@zeek You couldn't post an image?

 

[MatthewTherrien]

@henry1224 Thank you for your contribution - I like it and it is testing well when I use it with a 20EMA strategy

 

[jorge50505]

like this indicator for scalping thank youuu

 

[Charles]

Thanks germanburrito and henry1224 for working on the Twiggs indicator.

 

[germanburrito]

Thanks germanburrito and henry1224 for working on the Twiggs indicator.

my pleasure sir! what time frame do you use it on or how? if you wouldn't mind sharing ideas.

 

[indaba]

Hello German,

I added a moving average to the CMF as a signal, also added a cloud

###################

declare lower;
input periods = 21;
Input LengthA = 5;
input over_Bought = .20;
input over_Sold = -.20;


def C = close;

def H = high;

def L = low;

def V = volume;

def TRH = Max(H,C[1]);

def TRL = Min(L, C[1]);

def TR = TRH - TRL;

def ADV =((C-TRL)-(TRH-C))/ (If TR == 0 then 999999 else TR) * V;

plot NewCMF = if WildersAverage(V,periods) == 0

              then 0

              else WildersAverage(ADV, periods) / WildersAverage(V, periods);
Plot NewCMFA = ExpAverage(NewCMF,LengthA);
NewCMFA.SetDefaultColor(Color.Yellow);
plot ZeroLine = 0;
AddCloud(NewCMF,Zeroline,Color.Green,Color.Red);
ZeroLine.SetDefaultColor(color.gray);                

plot OverSold = over_Sold;
OverSold.SetDefaultColor(Color.Orange);
OverSold.SetPaintingStrategy(PaintingStrategy.Dashes);
plot OverBought = over_Bought;
OverBought.SetDefaultColor(Color.Orange);
OverBought.SetPaintingStrategy(PaintingStrategy.Dashes);

NewCMF.DefineColor("OverBought", GetColor(5));
NewCMF.DefineColor("Normal", GetColor(7));
NewCMF.DefineColor("OverSold", GetColor(1));
NewCMF.AssignValueColor(if  NewCMF > over_Bought then  NewCMF.color("OverBought") else if  NewCMF < over_Sold then  NewCMF.color("OverSold") else  NewCMF.color("Normal"));
NewCMF.SetLineweight(3);

I have created your money flow indicator into a binary signal w 3 MTF. The triangles are Cyan if the MF is Bullish, Red when overbought, Magenta when Bearish and Green when oversold

Here is the code

##############
Declare Lower;
DefineGlobalColor("Bullish", Color.Cyan);
DefineGlobalColor("Bearish", Color.Magenta);
DefineGlobalColor("OverSold", Color.Green);
DefineGlobalColor("OverBought", Color.Red);
DefineGlobalColor("Normal", Color.Gray);

input agg1 = AggregationPeriod.FIVE_MIN;
input agg2 = AggregationPeriod.Thirty_MIN;
input agg3 = AggregationPeriod. Hour;
input periods = 21;
Input LengthA = 5;
input over_Bought = .20;
input over_Sold = -.20;
input show_dots=yes;
input DotSize = 3;

Def AC = Close(Period = Agg1);
Def BC = Close(Period = Agg2);
Def CC = Close(Period = Agg3);
Def AH = High(Period = Agg1);
Def BH = High(Period = Agg2);
Def CH = High(Period = Agg3);
Def AL = Low(Period = Agg1);
Def BL = Low(Period = Agg2);
Def CL = Low(Period = Agg3);
Def AV = Volume(Period = Agg1);
Def BV = Volume(Period = Agg2);
Def CV = Volume(Period = Agg3);

def ATRH = Max(AH,AC[1]);
def BTRH = Max(BH,BC[1]);
def CTRH = Max(CH,CC[1]);
def ATRL = Min(AL, AC[1]);
def BTRL = Min(BL, BC[1]);
def CTRL = Min(CL, CC[1]);

def TRa = ATRH - ATRL;
def TRb = BTRH - BTRL;
def TRc = CTRH - CTRL;

def AADV =((AC-ATRL)-(ATRH-AC))/ (If TRa == 0 then 999999 else TRa) * AV;
def BADV =((BC-BTRL)-(BTRH-BC))/ (If TRb == 0 then 999999 else TRb) * BV;
def CADV =((CC-CTRL)-(CTRH-CC))/ (If TRc == 0 then 999999 else TRc) * CV;

Def ANewCMF = if WildersAverage(AV,periods) == 0
              then 0
              else WildersAverage(AADV, periods) / WildersAverage(AV, periods);
Def BNewCMF = if WildersAverage(BV,periods) == 0
              then 0
              else WildersAverage(BADV, periods) / WildersAverage(BV, periods);
Def CNewCMF = if WildersAverage(CV,periods) == 0
              then 0
              else WildersAverage(CADV, periods) / WildersAverage(CV, periods);

Def ANewCMFA = ExpAverage(ANewCMF,LengthA);
Def BNewCMFA = ExpAverage(BNewCMF,LengthA);
Def CNewCMFA = ExpAverage(CNewCMF,LengthA);
Def ZeroLine = 0;
plot ANewCMF_Dot = if IsNaN(AC) then Double.NaN else 1;
ANewCMF_Dot.SetPaintingStrategy(PaintingStrategy.TRIANGLES);
ANewCMF_Dot.SetLineWeight(DotSize);
ANewCMF_Dot.AssignValueColor(if ANewCMF> Over_Bought && ANewCMF >ANewCMFA then GlobalColor("OverBought") else  if ANewCMF< Over_Sold && ANewCMF <ANewCMFA then GlobalColor("OverSold") else  if ANewCMF> ZeroLine then GlobalColor("Bullish") else If ANewCMF< ZeroLine then GlobalColor("Bearish") else GlobalColor(“Normal”));
plot BNewCMF_Dot = if IsNaN(BC) then Double.NaN else 2;
BNewCMF_Dot.SetPaintingStrategy(PaintingStrategy.TRIANGLES);
BNewCMF_Dot.SetLineWeight(DotSize);
BNewCMF_Dot.AssignValueColor(if BNewCMF> Over_Bought && BNewCMF >BNewCMFA then GlobalColor("OverBought") else  if BNewCMF< Over_Sold && BNewCMF <BNewCMFA then GlobalColor("OverSold") else  if BNewCMF> ZeroLine then GlobalColor("Bullish") else If BNewCMF< ZeroLine then GlobalColor("Bearish") else GlobalColor(“Normal”));
plot CNewCMF_Dot = if IsNaN(CC) then Double.NaN else 3;
CNewCMF_Dot.SetPaintingStrategy(PaintingStrategy.TRIANGLES);
CNewCMF_Dot.SetLineWeight(DotSize);
CNewCMF_Dot.AssignValueColor(if CNewCMF> Over_Bought && CNewCMF >CNewCMFA then GlobalColor("OverBought") else  if CNewCMF< Over_Sold && CNewCMF <CNewCMFA then GlobalColor("OverSold") else  if CNewCMF> ZeroLine then GlobalColor("Bullish") else If CNewCMF< ZeroLine then GlobalColor("Bearish") else GlobalColor(“Normal”));

Henry when I put this into TOS nothing shows up, any ideas?

 

[MerryDay]

Henry when I put this into TOS nothing shows up, any ideas?

You need to align your timeframes when using the SECOND script in the post you quoted.
The indicator looks at 5min, 30min, and Hourly aggregations.

The timeframe of your chart MUST BE lower than the aggregations in the study.
Therefore, if using the defaults, this study can only be used on charts set with 4min and below timeframes.

You can change the default aggregations in chart settings.
When adjusting the timeframe settings, keep in mind that the timeframes in the script must be HIGHER than what you have your chart set at.

 

[PaulK]

Hello German,

I added a moving average to the CMF as a signal, also added a cloud

###################

declare lower;
input periods = 21;
Input LengthA = 5;

[/QUOTE]

Hi! What does Input LengthA mean? what happens when you make it higher or lower? Thank you!

Paul

 

[MerryDay]

Hi! What does Input LengthA mean? what happens when you make it higher or lower? Thank you!

Paul

LengthA smoothes out the plot. Smoothing factors typically do not get any higher than 5, but you can try lower.
Recommend you put it on your chart. Nothing beats personal experience The only way you will know what works best for you is to play with the settings and see how the indicator line up w/ your strategy and with your other indicators. To determine if this indicator brings value, analyze it over different timeframes, across history and with multiple instruments.