Two-Pole Oscillator [BigBeluga] For ThinkOrSwim

[Lukhy11]

Author states: The Two-Pole Oscillator is an advanced smoothing oscillator designed to provide traders with precise market signals by leveraging deviation-based calculations combined with a unique two-pole filtering technique. It offers clear visual representation and actionable signals for smart trading decisions.

How It Works:

• The oscillator calculates price deviation from a mean value and applies two-pole filtering to smooth the resulting signal.
• Gradient-colored signals reflect their strength, with transparency indicating proximity to the 0 level on the oscillator scale.
• Buy and sell signals are generated based on crossovers and crossunders of the oscillator line with a signal line.
• If a level is crossed, the corresponding signal is marked with a "X" plotted on the chart at the crossover point.

Use Cases:

• Detecting overbought or oversold market conditions with a smoother, noise-free oscillator.
• Using invalidation levels to set clear stop-loss or trade exit points.
• Identifying strong momentum signals and filtering out weaker, less reliable ones.
• Combining oscillator signals with price action for more precise trade entries and exits.

Here is the original Tradingview code:
https://www.tradingview.com/script/2Ssn4yDZ-Two-Pole-Oscillator-BigBeluga/


For the new ThinkOrSwim code, you must scroll down to the next post

 

[samer800]

Hi, All just wondering if anybody can convert this tradingview script by Big Beluga called Two Pole Oscillator?

https://www.tradingview.com/script/2Ssn4yDZ-Two-Pole-Oscillator-BigBeluga/


// This work is licensed under Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International
// https://creativecommons.org/licenses/by-nc-sa/4.0/
// © BigBeluga
//@version=6
indicator("Two-Pole Oscillator [BigBeluga]", max_labels_count = 500, max_lines_count = 500)
// ＩＮＰＵＴＳ ――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――{
int length = input.int(20, minval=1, title="Filter Length")
bool disp_lvl = input.bool(true, "Levels")
color up_color = input.color(#55ffda, "", inline = "color")
color dn_color = input.color(#8c5bff, "", inline = "color")
var buy_line = line(na)
var sell_line = line(na)
// }

// ＣＡＬＣＵＬＡＴＩＯＮＳ――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――{
float sma1 = ta.sma(close, 25)
float sma_n1 = ((close - sma1) - ta.sma(close - sma1, 25)) / ta.stdev(close - sma1, 25)
float area = ta.sma(high-low, 100)
// Two-pole smooth filter function
f_two_pole_filter(source, length) =>
var float smooth1 = na
var float smooth2 = na
alpha = 2.0 / (length + 1)
if na(smooth1)
smooth1 := source
else
smooth1 := (1 - alpha) * smooth1 + alpha * source
if na(smooth2)
smooth2 := smooth1
else
smooth2 := (1 - alpha) * smooth2 + alpha * smooth1
// Oscillator
two_p = f_two_pole_filter(sma_n1, length)
two_pp = two_p[4]
// Colors
color buy_col1 = color.from_gradient(two_p, -1, 0.5, up_color, na)
color buy_col2 = color.from_gradient(two_p, -1, 0.5, color.new(up_color, 50), na)
color sell_col1 = color.from_gradient(two_p, -0.5, 1, na, dn_color)
color sell_col2 = color.from_gradient(two_p, -0.5, 1, na, color.new(dn_color, 50))
color color = two_p > two_pp
? color.from_gradient(two_p, -1,1, up_color, color.new(up_color, 0))
: color.from_gradient(two_p, -1,1,color.new(dn_color, 0), dn_color)

// Signals
bool buy = ta.crossover(two_p, two_pp) and two_p < 0 and barstate.isconfirmed
bool sell = ta.crossunder(two_p, two_pp) and two_p > 0 and barstate.isconfirmed
// }

// ＰＬＯＴ ――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――――{
if buy //and two_p < -0.5
sell_line := line(na)
if disp_lvl
buy_line := line.new(
bar_index-1
, low[1] - area
, bar_index
, low[1] - area
, force_overlay = true
, color = buy_col1
, style = line.style_dashed
)
label.new(bar_index-1, low[1] - area
, color = buy_col1, style = label.style_label_up, force_overlay = true, size = size.tiny)
if ta.crossunder(low, buy_line.get_y1()) and barstate.isconfirmed
label.new(
bar_index-1
, buy_line.get_y1()
, color = color.new(up_color, 100)
, style = label.style_label_center
, force_overlay = true
, size = size.large
, text = "✖"
, textcolor = up_color
)
buy_line := line(na)
if sell //and two_p > 0.5
buy_line := line(na)
if disp_lvl
sell_line := line.new(
bar_index-1
, high[1] + area
, bar_index
, high[1] + area
, force_overlay = true
, color = sell_col1
, style = line.style_dashed
)
label.new(bar_index-1, high[1] + area
, color = sell_col1, style = label.style_label_down, force_overlay = true, size = size.tiny)
if ta.crossover(high, sell_line.get_y1()) and barstate.isconfirmed
label.new(
bar_index-1
, sell_line.get_y1()
, color = color.new(dn_color, 100)
, style = label.style_label_center
, force_overlay = true
, size = size.large
, text = "✖"
, textcolor = dn_color
)
sell_line := line(na)
switch
not na(buy_line) => buy_line. set_x2(bar_index)
not na(sell_line) => sell_line.set_x2(bar_index)
plotshape(buy ? two_p[1] : na, "Buy", shape.circle, location.absolute, buy_col2, -1, size = size.small)
plotshape(buy ? two_p[1] : na, "Buy", shape.circle, location.absolute, buy_col1, -1, size = size.tiny)
plotshape(sell ? two_p[1] : na, "Sell", shape.circle, location.absolute, sell_col2, -1, size = size.small)
plotshape(sell ? two_p[1] : na, "Sell", shape.circle, location.absolute, sell_col1, -1, size = size.tiny)
p11 = plot(1, color = color.new(chart.fg_color, 80))
plot(0.5, color = color.new(chart.fg_color, 50))
p00 = plot(0, color = color.new(bar_index % 2 == 0 ? chart.fg_color : na, 0))
plot(-0.5, color = color.new(chart.fg_color, 50))
p_1 = plot(-1, color = color.new(chart.fg_color, 80))
fill(p11, p00, 2, -1, color.new(chart.fg_color, 80), na)
fill(p_1, p00, 1, -2, na, color.new(chart.fg_color, 80))

p1 = plot(two_p, color = color, linewidth = 1)
p2 = plot(two_pp, display = display.none)
fill(p1, p2, two_p, two_pp, color, na)
// }

check below Upper & lower Study:

Upper Study:

#// Indicator for TOS
#// © BigBeluga
#indicator("Two-Pole Oscillator [BigBeluga]"
# Converted by Sam4Cok@Samer800    - 02/2025

input source = close;
input FilterLength = 20;


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

#/ ＣＡＬＣＵＬＡＴＩＯＮＳ
def hl = High - Low;
def sma  = Average(source, 25);
def sma1 = Average(source - sma, 25);
def stdv = StDev(source - sma, 25);
def sma_n1 = (source - sma - sma1) / stdv;
def area   = Average(hl, 100);

#// Two-pole smooth filter function
Script f_two_pole_filter {
input source = close;
input length = 20;
    def bar = CompoundValue(1, BarNumber(), 1);
    def alpha = 2.0 / (length + 1);
    def smooth1 = if isNaN(smooth1[1]) then source else if !smooth1[1] then source else
                  (1 - alpha) * smooth1[1] + alpha * source;
    def smooth2 = if isNaN(smooth2[1]) then smooth1 else if !smooth2[1] then smooth1 else
                  (1 - alpha) * smooth2[1] + alpha * smooth1;
    plot out = if bar > 0 then smooth2 else Double.NaN;
}
#// Oscillator
def two_p = f_two_pole_filter(sma_n1, FilterLength);
def two_pp = two_p[4];
def twp_ppp = (two_pp + two_p)/2;

#// Signals
def buy  = (two_p > two_pp) and (two_p[1] <= two_pp[1]) and two_p < 0 and !last;
def sell = (two_p < two_pp) and (two_p[1] >= two_pp[1]) and two_p > 0 and !last;

#-- Lines
def buy_line = if buy then low[1] - area else if sell then na else
               if low < buy_line[1] then na else buy_line[1];
def sell_line = if sell then high[1] + area else if buy then na else
                if high > sell_line[1] then na else sell_line[1];

#-- plots
plot crosUp = if low[-1] < buy_line then buy_line else na;
plot crosDn = if high[-1] > sell_line then sell_line else na;
plot sigUp1 = if buy [-1] then buy_line [-1] else na;
plot sigDn1 = if sell[-1] then sell_line[-1] else na;
plot sigUp  = if buy [-1] then buy_line [-1] else na;
plot sigDn  = if sell[-1] then sell_line[-1] else na;
plot buyLine = if buy_line[-1] then buy_line[-1] else na;
plot sellLine = if sell_line[-1] then sell_line[-1] else na;

crosUp.SetPaintingStrategy(PaintingStrategy.LINE_VS_SQUARES);
crosDn.SetPaintingStrategy(PaintingStrategy.LINE_VS_SQUARES);
crosUp.SetDefaultColor(Color.CYAN);
crosDn.SetDefaultColor(Color.MAGENTA);
sigUp.SetLineWeight(3);
sigDn.SetLineWeight(3);
sigUp1.SetDefaultColor(Color.DARK_GRAY);
sigDn1.SetDefaultColor(Color.DARK_GRAY);
sigUp.SetDefaultColor(Color.CYAN);
sigDn.SetDefaultColor(Color.MAGENTA);
sigUp.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
sigDn.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
sigUp1.SetPaintingStrategy(PaintingStrategy.POINTS);
sigDn1.SetPaintingStrategy(PaintingStrategy.POINTS);

buyLine.SetPaintingStrategy(PaintingStrategy.DASHES);
sellLine.SetPaintingStrategy(PaintingStrategy.DASHES);
buyLine.SetDefaultColor(Color.CYAN);
sellLine.SetDefaultColor(Color.MAGENTA);

#-- END of CODE

Lower Study:

#// Indicator for TOS
#// © BigBeluga
#indicator("Two-Pole Oscillator [BigBeluga]"
# Converted by Sam4Cok@Samer800    - 02/2025
Declare lower;

input source = close;
input FilterLength = 20;


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

#/ ＣＡＬＣＵＬＡＴＩＯＮＳ
def sma  = Average(source, 25);
def sma1 = Average(source - sma, 25);
def stdv = StDev(source - sma, 25);
def sma_n1 = (source - sma - sma1) / stdv;

#// Two-pole smooth filter function
Script f_two_pole_filter {
input source = close;
input length = 20;
    def bar = CompoundValue(1, BarNumber(), 1);
    def alpha = 2.0 / (length + 1);
    def smooth1 = if isNaN(smooth1[1]) then source else if !smooth1[1] then source else
                  (1 - alpha) * smooth1[1] + alpha * source;
    def smooth2 = if isNaN(smooth2[1]) then smooth1 else if !smooth2[1] then smooth1 else
                  (1 - alpha) * smooth2[1] + alpha * smooth1;
    plot out = if bar > 0 then smooth2 else Double.NaN;
}
#// Oscillator
def two_p = f_two_pole_filter(sma_n1, FilterLength);
def two_pp = two_p[4];
def twp_ppp = (two_pp + two_p)/2;

#// Signals
def buy  = (two_p > two_pp) and (two_p[1] <= two_pp[1]) and two_p < 0 and !last;
def sell = (two_p < two_pp) and (two_p[1] >= two_pp[1]) and two_p > 0 and !last;

plot sigUp1 = if buy[-1] then two_p[1] else na;
plot sigDn1 = if sell[-1] then two_p[1] else na;
plot sigUp = if buy[-1] then two_p[1] else na;
plot sigDn = if sell[-1] then two_p[1] else na;
sigUp.SetLineWeight(3);
sigDn.SetLineWeight(3);
sigUp1.SetDefaultColor(Color.DARK_GRAY);
sigDn1.SetDefaultColor(Color.DARK_GRAY);
sigUp.SetDefaultColor(Color.CYAN);
sigDn.SetDefaultColor(Color.MAGENTA);
sigUp.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
sigDn.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
sigUp1.SetPaintingStrategy(PaintingStrategy.POINTS);
sigDn1.SetPaintingStrategy(PaintingStrategy.POINTS);

#-- plots
plot tpl = if !last then two_p else na;
plot p11 = if !last then 1 else na;
plot p1  = if !last then 0.5 else na;
plot p00 = if !last then 0 else na;
plot p_1 = if !last then -0.5 else na;
plot p_11 = if !last then -1 else na;

tpl.SetLineWeight(2);
tpl.AssignValueColor(if two_p > two_pp then Color.CYAN else Color.MAGENTA);
p1.SetPaintingStrategy(PaintingStrategy.DASHES);
p_1.SetPaintingStrategy(PaintingStrategy.DASHES);
p00.SetStyle(Curve.SHORT_DASH);
p11.SetDefaultColor(Color.DARK_GRAY);
p1.SetDefaultColor(Color.GRAY);
p00.SetDefaultColor(Color.LIGHT_GRAY);
p_1.SetDefaultColor(Color.GRAY);
p_11.SetDefaultColor(Color.DARK_GRAY);

AddCloud(tpl, two_pp, CreateColor(0, 128, 128), Color.PLUM);
AddCloud(tpl, twp_ppp, Color.CYAN, Color.MAGENTA);
AddCloud(p11, p1, Color.DARK_GRAY);
AddCloud(p_1, p_11, Color.DARK_GRAY);

#-- END of CODE

 

[Lukhy11]

check below Upper & lower Study:

Upper Study:

#// Indicator for TOS
#// © BigBeluga
#indicator("Two-Pole Oscillator [BigBeluga]"
# Converted by Sam4Cok@Samer800    - 02/2025

input source = close;
input FilterLength = 20;


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

#/ ＣＡＬＣＵＬＡＴＩＯＮＳ
def hl = High - Low;
def sma  = Average(source, 25);
def sma1 = Average(source - sma, 25);
def stdv = StDev(source - sma, 25);
def sma_n1 = (source - sma - sma1) / stdv;
def area   = Average(hl, 100);

#// Two-pole smooth filter function
Script f_two_pole_filter {
input source = close;
input length = 20;
    def bar = CompoundValue(1, BarNumber(), 1);
    def alpha = 2.0 / (length + 1);
    def smooth1 = if isNaN(smooth1[1]) then source else if !smooth1[1] then source else
                  (1 - alpha) * smooth1[1] + alpha * source;
    def smooth2 = if isNaN(smooth2[1]) then smooth1 else if !smooth2[1] then smooth1 else
                  (1 - alpha) * smooth2[1] + alpha * smooth1;
    plot out = if bar > 0 then smooth2 else Double.NaN;
}
#// Oscillator
def two_p = f_two_pole_filter(sma_n1, FilterLength);
def two_pp = two_p[4];
def twp_ppp = (two_pp + two_p)/2;

#// Signals
def buy  = (two_p > two_pp) and (two_p[1] <= two_pp[1]) and two_p < 0 and !last;
def sell = (two_p < two_pp) and (two_p[1] >= two_pp[1]) and two_p > 0 and !last;

#-- Lines
def buy_line = if buy then low[1] - area else if sell then na else
               if low < buy_line[1] then na else buy_line[1];
def sell_line = if sell then high[1] + area else if buy then na else
                if high > sell_line[1] then na else sell_line[1];

#-- plots
plot crosUp = if low[-1] < buy_line then buy_line else na;
plot crosDn = if high[-1] > sell_line then sell_line else na;
plot sigUp1 = if buy [-1] then buy_line [-1] else na;
plot sigDn1 = if sell[-1] then sell_line[-1] else na;
plot sigUp  = if buy [-1] then buy_line [-1] else na;
plot sigDn  = if sell[-1] then sell_line[-1] else na;
plot buyLine = if buy_line[-1] then buy_line[-1] else na;
plot sellLine = if sell_line[-1] then sell_line[-1] else na;

crosUp.SetPaintingStrategy(PaintingStrategy.LINE_VS_SQUARES);
crosDn.SetPaintingStrategy(PaintingStrategy.LINE_VS_SQUARES);
crosUp.SetDefaultColor(Color.CYAN);
crosDn.SetDefaultColor(Color.MAGENTA);
sigUp.SetLineWeight(3);
sigDn.SetLineWeight(3);
sigUp1.SetDefaultColor(Color.DARK_GRAY);
sigDn1.SetDefaultColor(Color.DARK_GRAY);
sigUp.SetDefaultColor(Color.CYAN);
sigDn.SetDefaultColor(Color.MAGENTA);
sigUp.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
sigDn.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
sigUp1.SetPaintingStrategy(PaintingStrategy.POINTS);
sigDn1.SetPaintingStrategy(PaintingStrategy.POINTS);

buyLine.SetPaintingStrategy(PaintingStrategy.DASHES);
sellLine.SetPaintingStrategy(PaintingStrategy.DASHES);
buyLine.SetDefaultColor(Color.CYAN);
sellLine.SetDefaultColor(Color.MAGENTA);

#-- END of CODE

Lower Study:

#// Indicator for TOS
#// © BigBeluga
#indicator("Two-Pole Oscillator [BigBeluga]"
# Converted by Sam4Cok@Samer800    - 02/2025
Declare lower;

input source = close;
input FilterLength = 20;


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

#/ ＣＡＬＣＵＬＡＴＩＯＮＳ
def sma  = Average(source, 25);
def sma1 = Average(source - sma, 25);
def stdv = StDev(source - sma, 25);
def sma_n1 = (source - sma - sma1) / stdv;

#// Two-pole smooth filter function
Script f_two_pole_filter {
input source = close;
input length = 20;
    def bar = CompoundValue(1, BarNumber(), 1);
    def alpha = 2.0 / (length + 1);
    def smooth1 = if isNaN(smooth1[1]) then source else if !smooth1[1] then source else
                  (1 - alpha) * smooth1[1] + alpha * source;
    def smooth2 = if isNaN(smooth2[1]) then smooth1 else if !smooth2[1] then smooth1 else
                  (1 - alpha) * smooth2[1] + alpha * smooth1;
    plot out = if bar > 0 then smooth2 else Double.NaN;
}
#// Oscillator
def two_p = f_two_pole_filter(sma_n1, FilterLength);
def two_pp = two_p[4];
def twp_ppp = (two_pp + two_p)/2;

#// Signals
def buy  = (two_p > two_pp) and (two_p[1] <= two_pp[1]) and two_p < 0 and !last;
def sell = (two_p < two_pp) and (two_p[1] >= two_pp[1]) and two_p > 0 and !last;

plot sigUp1 = if buy[-1] then two_p[1] else na;
plot sigDn1 = if sell[-1] then two_p[1] else na;
plot sigUp = if buy[-1] then two_p[1] else na;
plot sigDn = if sell[-1] then two_p[1] else na;
sigUp.SetLineWeight(3);
sigDn.SetLineWeight(3);
sigUp1.SetDefaultColor(Color.DARK_GRAY);
sigDn1.SetDefaultColor(Color.DARK_GRAY);
sigUp.SetDefaultColor(Color.CYAN);
sigDn.SetDefaultColor(Color.MAGENTA);
sigUp.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
sigDn.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
sigUp1.SetPaintingStrategy(PaintingStrategy.POINTS);
sigDn1.SetPaintingStrategy(PaintingStrategy.POINTS);

#-- plots
plot tpl = if !last then two_p else na;
plot p11 = if !last then 1 else na;
plot p1  = if !last then 0.5 else na;
plot p00 = if !last then 0 else na;
plot p_1 = if !last then -0.5 else na;
plot p_11 = if !last then -1 else na;

tpl.SetLineWeight(2);
tpl.AssignValueColor(if two_p > two_pp then Color.CYAN else Color.MAGENTA);
p1.SetPaintingStrategy(PaintingStrategy.DASHES);
p_1.SetPaintingStrategy(PaintingStrategy.DASHES);
p00.SetStyle(Curve.SHORT_DASH);
p11.SetDefaultColor(Color.DARK_GRAY);
p1.SetDefaultColor(Color.GRAY);
p00.SetDefaultColor(Color.LIGHT_GRAY);
p_1.SetDefaultColor(Color.GRAY);
p_11.SetDefaultColor(Color.DARK_GRAY);

AddCloud(tpl, two_pp, CreateColor(0, 128, 128), Color.PLUM);
AddCloud(tpl, twp_ppp, Color.CYAN, Color.MAGENTA);
AddCloud(p11, p1, Color.DARK_GRAY);
AddCloud(p_1, p_11, Color.DARK_GRAY);

#-- END of CODE

Thanks Samer800