Volume Pressure Upper For ThinkOrSwim

[latinbori123456]

relative volume spike with ATR and stop loss plotting

I have been working on an indicator that can detect buying volume spikes that end in a green candle, closes above an EMA, takes the previous ATR value of that spike, and and plots a line below the low of the candle 1 previous ATR below it. The line disappears when the candle opens below that ATR stop.

I have been using this to get into MOMO stocks when the insiders/algos do before the PR is released and then I sell into the spike. It is a slight variation of this https://usethinkscript.com/threads/volume-buy-sell-pressure-with-hot-percent-for-thinkorswim.389/.

I just added some other checks to fit a swing style trader that uses spikes to detect loading.
Shout out to everyone that helped with the buy/sell pressure indicator. I have used it for years and developed a strategy based off it.

I call the below Volume_Pressure_Upper

# Original author: Unknown
# Modified by 7of9



#Inputs


input UnusualVolumePercent = 10000;
input NumberOfPlotsMax4 = 4;
input ATRLength= 14;
input ATRAvgType = AverageType.ExponentIAL;
Input EMALength = 200;
def NumberOfBarsToCheck = 200;




def avg30Bars = (volume[1] + volume[2] + volume[3] + volume[4] + volume[5] + volume[6] + volume[7] + volume[8] + volume[9] + volume[10] + volume[11] + volume[12] + volume[13] + volume[14] + volume[15] + volume[16] + volume[17] + volume[18] + volume[19] + volume[20] + volume[21] + volume[22] + volume[23] + volume[24] + volume[25] + volume[26] + volume[27] + volume[28] + volume[29] + volume[30]) / 30;
def curVolume = volume;
def percentOf30Bar = Round((curVolume / avg30Bars) * 100, 0);
def nan=double.nan;
def LowMinusAtr = low - reference ATR (length = ATRLength, averageType = ATRAvgType)[1];

def UnusualVolumeCondition = if percentOf30Bar >= UnusualVolumePercent then 1 else 0;
def signal = if UnusualVolumeCondition == 1 then percentOf30Bar else Double.NaN;
def signal_long_only = UnusualVolumeCondition == 1 and open < close and close > MovAvgExponential(length = EMALength) ;

#def SupportLevel = if signal_long_only then low - reference ATR (length = ATRLength, averageType = ATRAvgType) else SupportLevel[1];

#plot supports=SupportLevel;



##test area
def bar = BarNumber();
def n = NumberOfBarsToCheck;

def hh = fold i = 1 to n + 1
with p = 1
while p
do signal_long_only ;

def PivotH = if (bar > n and
signal_long_only)
then LowMinusAtr
else Double.NaN;

def PHValue = if !IsNaN(PivotH)
then PivotH
else PHValue[1];
def PHBarOrigin = if !IsNaN(PivotH)
then bar
else PHBarOrigin[1];
def PHBarID = bar - PHBarOrigin;

# R2
def R2PHValue = if PHBarOrigin != PHBarOrigin[1]
then PHValue[1]
else R2PHValue[1];
def R2PHBarOrigin = if PHBarOrigin != PHBarOrigin[1]
then PHBarOrigin[1]
else R2PHBarOrigin[1];
def R2PHBarID = bar - R2PHBarOrigin;
# R3
def R3PHValue = if R2PHBarOrigin != R2PHBarOrigin[1]
then R2PHValue[1]
else R3PHValue[1];
def R3PHBarOrigin = if R2PHBarOrigin != R2PHBarOrigin[1]
then R2PHBarOrigin[1]
else R3PHBarOrigin[1];
def R3PHBarID = bar - R3PHBarOrigin;
# R4
def R4PHValue = if R3PHBarOrigin != R3PHBarOrigin[1]
then R3PHValue[1]
else R4PHValue[1];
def R4PHBarOrigin = if R3PHBarOrigin != R3PHBarOrigin[1]
then R3PHBarOrigin[1]
else R4PHBarOrigin[1];
def R4PHBarID = bar - R4PHBarOrigin;


script LinePlot {
input BarID = 0;
input Value = 0;
input BarOrigin = 0;
def ThisBar = HighestAll(BarOrigin);
def ValueLine = if BarOrigin == ThisBar
then Value
else Double.NaN;
plot P = if ThisBar - BarID <= BarOrigin
then HighestAll(ValueLine)
else Double.NaN;
}

plot R1 = if NumberOfPlotsMax4 >=1 and open > PHValue and PHValue>0then LinePlot(BarID = PHBarID,
Value = PHValue,
BarOrigin = PHBarOrigin)
else nan;
R1.SetDefaultColor(Color.GREEN);
r1.SetLineWeight(5);
#AddChartBubble(bar == HighestAll(PHBarOrigin), PHValue, "R1", Color.GREEN, 1);

plot R2 = if NumberOfPlotsMax4 >=2 and open > R2PHValue and R2PHValue>0 then LinePlot(BarID = R2PHBarID,
Value = R2PHValue,
BarOrigin = R2PHBarOrigin)
else nan;
R2.SetDefaultColor(Color.GREEN);
r2.SetLineWeight(5);
#AddChartBubble(bar == HighestAll(PHBarOrigin), PHValue, "R1", Color.GREEN, 1);

plot R3 = if NumberOfPlotsMax4 >=3 and open > R3PHValue and R3PHValue>0 then LinePlot(BarID = R3PHBarID,
Value = R3PHValue,
BarOrigin = R3PHBarOrigin)
else nan;
R3.SetDefaultColor(Color.GREEN);
r3.SetLineWeight(5);
#AddChartBubble(bar == HighestAll(PHBarOrigin), PHValue, "R1", Color.GREEN, 1);

plot R4 = if NumberOfPlotsMax4 >=4 and open > R4PHValue and R4PHValue>0 then LinePlot(BarID = R4PHBarID,
Value = R4PHValue,
BarOrigin = R4PHBarOrigin)
else nan;
R4.SetDefaultColor(Color.GREEN);
r4.SetLineWeight(5);
#AddChartBubble(bar == HighestAll(PHBarOrigin), PHValue, "R1", Color.GREEN, 1);