Using Lower Time Frame Reversal Bars Intra day

[truthntrading]

Hello All,

I need some help fleshing out an indicator that then can be added as a strategy for forward testing.

Parameters

I limit the time it operates in and i want a visual aid to make it easily actionable.

Based on a mashup of other peoples work on here i have the very rough framework but need some assistance adding things. and getting it working.

Currently i don't know how to reference the reversal bar high, low or mid. it gives me a class error when i try to do so.

In addition to coloring the reversal bar as i already have i would like to add horizontal lines at high,low and mid as well as a cloud between them , exactly like PAM

Depending on Timeframe there may be more than one bar highlighted, so bonus points for being able to toggle highlight 1. the highest reversal bar 2. the lowest 3. both highest n lowest 4. all

Thank you in advance to anyone who can help point me in the right direction. @Chemmy @SleepyZ @mashume @halcyonguy

 def H = high;
def L = low;

def reversalbar  = if high > high[1] and
                     low < low[1]
                  then 1
                  else Double.NaN;
         
input pricecolor = yes;

AssignPriceColor(if !pricecolor
                 then color.current else
                 if !isNaN(reversalbar) then color.orange ;

def closeh = close(period=aggregationperiod.hour);
 def RBH = high(reversalbar);

def IB = if SecondsFromTime(1031) > 0 and SecondsTillTime(1140) > 0 then 1 else 0;
def MPeriod = if secondsTillTime(1600) < 1800 and secondsTillTime(1600)[1] > 1800 then 1 else 0;

def price = close;



#buy condition

def buyc = h crosses above RBH;
def sellc = h crosses above closeh[-1];

AddOrder(OrderType.BUY_to_OPEN,buyc and IB==1, name="BTOFADE", yes);
AddOrder(OrderType.SELL_to_cLOSE, sellc or MPeriod==1, name="STCFADE", yes);

 

[mashume]

@truthntrading
The reversalbar series is holding a value, not the point at which it is 1 (it holds a stream of 1 and NaNs). You need to set the RBH value as you go, not using a lookback idea.

def RBH = if reversalbar == 1 then high else RBH[1];

This code translates to: if the value of the reversalbar for the current bar is 1 then set the value of RBH to the current bar high othewise carry the previous value of RBH forward to this bar.

Hope that helps
-mashume

 

[truthntrading]

@truthntrading
The reversalbar series is holding a value, not the point at which it is 1 (it holds a stream of 1 and NaNs). You need to set the RBH value as you go, not using a lookback idea.

def RBH = if reversalbar == 1 then high else RBH[1];

This code translates to: if the value of the reversalbar for the current bar is 1 then set the value of RBH to the current bar high othewise carry the previous value of RBH forward to this bar.

Hope that helps
-mashume

Thanks for that answer mashume @mashume and for taking the time to respond.

I'm going to toy around with that code and see if I make any progress referencing high-low-mid of the reversal bar.

If not I'll come back and post here for more assistance if I need it.

Thanks again and really appreciate your contributions.

 

[truthntrading]

thanks @halcyonguy

i really appreciate the sample code and pointing me in the right direction.

Following your logic i edited it slightly to include the mid of the bar as a line as well so that's a BIG WIN.

THANK YOU THANK YOU!!

I'm sure i can create a cloud between those two values as well.

this is what i added.

def m;
m = ((h+l)/2);
 m = mid[1];
m =na;

plotzm = m;

How would i have the candle directly before the reversal bar plot instead of the values of the reversal bar itself?

i tried changing the plots to

plot zh = h[-1] etc
l[-1]
m[-1]

but that simply shifts the plot of the reversal bar numbers to anchor over the candle formed before it.

if i change the calcs of
h=h[-1] etc it doesn't load the plots or colors at all.

any pointers please?

as for the toggles it would be on the timeframe i'm on.

so say a 4day 5m chart , the lowest reversal bar in the range, the highest in the range.

[Resolved] i used the

if reversalbar[-1]

to reference the bar before the reversal bar. last issue is to create multiple lines and clouds without them joining together as described below.

find the highest value , during when?
the whole chart? each day?, each week? each hour?

----------
when a reverse bar happens, read the high, low, mid,
if bar is within x bars ( say 10 bars) of the reverse bar, then set those values to previous value,
else na

an example to get you started

def bars = 10;
def bn = barnumber();
def na = double.ban;

def revbn;
def h;
def l;
if reverse then {
h=high;
l=low;
revbn = bn;
} else if bn < (revbn[1] + bars) then {
h=h[1];
l=l[1];
revbn = revbn[1];
} else {
h=na;
l=na;
revbn=na;
}
plot zh = h;
plot zl = l;

to plot more than 1 line on a bar, you need more than 1 plot line.

take a look at this gap study.
it looks for a a signal (gap), then plots horizontal lines.

it can plot 4 sets of lines on 1 bar, by having 4 sets of plot code lines.

it counts the signals and resets the lines , on every 4th signal.
seq , counts the signals and determines which data set to be updated. 1,2,3, or 4


# sequence counter, thru the qty
# 1,2,3,0,1,2,3,0...
def seq1 = (cnt % gapqty);
# chg to be, 1,2,3,4,1,2,3,4,...
def seq = if seq1 == 0 then gapqty else seq1;

https://usethinkscript.com/threads/...ses-into-it-for-thinkorswim.11186/#post-97722

thanks @halcyonguy

i really appreciate the sample code and pointing me in the right direction.

Following your logic i edited it slightly to include the mid of the bar as a line as well so that's a BIG WIN.

THANK YOU THANK YOU!!

I'm sure i can create a cloud between those two values as well.

this is what i added.

def m;
m = ((h+l)/2);
 m = mid[1];
m =na;

plotzm = m;

How would i have the candle directly before the reversal bar plot instead of the values of the reversal bar itself?

i tried changing the plots to

plot zh = h[-1] etc
l[-1]
m[-1]

but that simply shifts the plot of the reversal bar numbers to anchor over the candle formed before it.

if i change the calcs of
h=h[-1] etc it doesn't load the plots or colors at all.

any pointers please?

as for the toggles it would be on the timeframe i'm on.

so say a 4day 5m chart , the lowest reversal bar in the range, the highest in the range.

I used this to add clouds to the high-mid-low of the reversal bar.

#AddCloud(zh ,zm, Color.RED, Color.RED);
#AddCloud(zm,zl , Color.GREEN, Color.GREEN);

the lines for the reversal bars all join from every area over the chart, as well as when i add the cloud to it. the clouds are similiarly joined.

how do i separate the lines and the clouds?

is that using the logic of the gap fill Gap FIll Clouds?

I'm looking to see how i can apply that to the identified reversal bar.

Clouds and Lines

 

[halcyonguy]

Hello All,

I need some help fleshing out an indicator that then can be added as a strategy for forward testing.

Parameters

I limit the time it operates in and i want a visual aid to make it easily actionable.

Based on a mashup of other peoples work on here i have the very rough framework but need some assistance adding things. and getting it working.

Currently i don't know how to reference the reversal bar high, low or mid. it gives me a class error when i try to do so.

In addition to coloring the reversal bar as i already have i would like to add horizontal lines at high,low and mid as well as a cloud between them , exactly like PAM

Depending on Timeframe there may be more than one bar highlighted, so bonus points for being able to toggle highlight 1. the highest reversal bar 2. the lowest 3. both highest n lowest 4. all

Thank you in advance to anyone who can help point me in the right direction. @Chemmy @SleepyZ @mashume @halcyonguy

 def H = high;
def L = low;

def reversalbar  = if high > high[1] and
                     low < low[1]
                  then 1
                  else Double.NaN;
         
input pricecolor = yes;

AssignPriceColor(if !pricecolor
                 then color.current else
                 if !isNaN(reversalbar) then color.orange ;

def closeh = close(period=aggregationperiod.hour);
 def RBH = high(reversalbar);

def IB = if SecondsFromTime(1031) > 0 and SecondsTillTime(1140) > 0 then 1 else 0;
def MPeriod = if secondsTillTime(1600) < 1800 and secondsTillTime(1600)[1] > 1800 then 1 else 0;

def price = close;



#buy condition

def buyc = h crosses above RBH;
def sellc = h crosses above closeh[-1];

AddOrder(OrderType.BUY_to_OPEN,buyc and IB==1, name="BTOFADE", yes);
AddOrder(OrderType.SELL_to_cLOSE, sellc or MPeriod==1, name="STCFADE", yes);

find the highest value , during when?
the whole chart? each day?, each week? each hour?

----------
when a reverse bar happens, read the high, low, mid,
if bar is within x bars ( say 10 bars) of the reverse bar, then set those values to previous value,
else na

an example to get you started

def bars = 10;
def bn = barnumber();
def na = double.ban;

def revbn;
def h;
def l;
if reverse then {
h=high;
l=low;
revbn = bn;
} else if bn < (revbn[1] + bars) then {
h=h[1];
l=l[1];
revbn = revbn[1];
} else {
h=na;
l=na;
revbn=na;
}
plot zh = h;
plot zl = l;

to plot more than 1 line on a bar, you need more than 1 plot line.

take a look at this gap study.
it looks for a a signal (gap), then plots horizontal lines.

it can plot 4 sets of lines on 1 bar, by having 4 sets of plot code lines.

it counts the signals and resets the lines , on every 4th signal.
seq , counts the signals and determines which data set to be updated. 1,2,3, or 4


# sequence counter, thru the qty
# 1,2,3,0,1,2,3,0...
def seq1 = (cnt % gapqty);
# chg to be, 1,2,3,4,1,2,3,4,...
def seq = if seq1 == 0 then gapqty else seq1;

https://usethinkscript.com/threads/...ses-into-it-for-thinkorswim.11186/#post-97722