Watchlist column and scanner for a Relative Strength Study?

Leo1015

Member
Hi Everyone, Below is the study. I just want to be alerted and perhaps have the ticker background turn to green when it's greater than the value of 89 and yellow at 75 to 89 and white when below 75. Text would be black. Greatly appreciate your feedback.

Code:
# Plot the Relative Strength Line in ThinkorSwim
# Written by: @Diamond_Stocks @RayTL_ - TLScripts
# Site:     [URL]https://www.traderlion.com/[/URL] [URL]https://www.traderlion.com/tl-scripts/[/URL]
# V1

# Declare Lower Places a study on the lower subgraph. This declaration is used when your study uses values that are considerably lower or higher than price history or volume values.
declare lower;

# User Inputs
input show_RSNHBP = yes;
input show_RSNH = yes;

#Relative Strength Type - Candlestick to be added later.
input graphStyle = {default "Line"};

#3 Month, 6 Month, 1 Year RS
input TimeFrame = {default "Three_Months", "Six_Months", "1_Year"};

#Index SymbolRelation
input CorrelationWithSecurity = "SPX";

#Calculation TimeFrame
def aggregationperiod = AggregationPeriod.DAY;

#Chart Normalized Relative Strength Rating on Last Bar
def isLastBar = BarNumber() == HighestAll(if !IsNaN(close) then BarNumber() else Double.NaN);

#Turn on or off Alerts when cycling charts
input Alerts_On = yes;

#Add Chart Bubbble to Graph
input RS_Rating_ChartBubble = yes;

#Establish look back length:
def Length = if TimeFrame == TimeFrame.Three_Months then 63 else if TimeFrame == TimeFrame.Six_Months then 126 else 252;

#Get Index Close/Open/High/Low - Prep for Candlestick RS.
def indexopen = open(CorrelationWithSecurity, aggregationperiod);
def indexhigh = high(CorrelationWithSecurity, aggregationperiod);
def indexlow = low(CorrelationWithSecurity, aggregationperiod);
def indexclose = close(CorrelationWithSecurity, aggregationperiod);

#Get Relative Strength - Prep for Candlestick RS.
def RSopen = open / indexopen;
def RShigh = high / indexhigh;
def RSlow = low / indexlow;
def RSclose = close / indexclose;

def barCount = IF !IsNaN(close) THEN IF IsNaN(barCount[1]) THEN 1 ELSE barCount[1] + 1 ELSE barCount[1];

#Normalize Relative Strength
def newRngMax = 99; #Maximum normalized value
def newRngMin = 1; #Minimum normalized value

def HHDataclose = HighestAll(RSclose);
def LLDataclose = LowestAll(RSclose);
def HHDataopen = HighestAll(RSopen);
def LLDataopen = LowestAll(RSopen);
def HHDatalow = HighestAll(RSlow);
def LLDatalow = LowestAll(RSlow);
def HHDatahigh = HighestAll(RShigh);
def LLDatahigh = LowestAll(RShigh);

def normalizeRSclose = ((( newRngMax - newRngMin ) * ( RSclose - LLDataclose )) / ( HHDataclose - LLDataclose )) + newRngMin;
def normalizeRSopen = ((( newRngMax - newRngMin ) * ( RSopen - LLDataopen )) / ( HHDataopen - LLDataopen )) + newRngMin;
def normalizeRShigh = ((( newRngMax - newRngMin ) * ( RShigh - LLDatahigh )) / ( HHDatahigh - LLDatahigh )) + newRngMin;
def normalizeRSlow = ((( newRngMax - newRngMin ) * ( RSlow - LLDatalow )) / ( HHDatalow - LLDatalow )) + newRngMin;

#Chart RS Line and set appearence:
plot RSLine = RSclose;
RSLine.DefineColor("Positive", Color.UPTICK);
RSLine.DefineColor("Negative", Color.DOWNTICK);
RSLine.SetLineWeight(1);
RSLine.AssignValueColor(if RSLine[0] > RSLine[1] then CreateColor(43, 152, 242) else CreateColor(227, 88, 251));

#Get Highest RS Value
def highestRS = Highest(RSclose, Length);

#RSNHBPCondition
def RSNHBPcondition = if RSclose >= highestRS and close < Highest(close, Length) then highestRS else no;

#Plot RSNHBP Condition
plot RSNHBP = if show_RSNHBP and RSNHBPcondition == highestRS then highestRS else Double.NaN;

#Plot RSNH Condition
plot RSNH = if show_RSNH and RSNHBPcondition == no and RSclose == highestRS and isLastBar then highestRS else Double.NaN;

#Appearance Settings
RSNHBP.SetPaintingStrategy(PaintingStrategy.POINTS);
RSNHBP.SetLineWeight(2);
RSNHBP.SetDefaultColor(CreateColor(196, 94, 225));
RSNHBP.HideBubble();
RSNH.SetPaintingStrategy(PaintingStrategy.POINTS);
RSNH.SetDefaultColor(Color.GREEN);
RSNH.SetLineWeight(2);
RSNH.HideBubble();

#Add Chart Bubble for RS Rating
AddChartBubble(RS_Rating_ChartBubble and isLastBar, RSclose, "RS: " + Round(normalizeRSclose, 0),  Color.WHITE, no);

#Add Label
AddLabel(yes, Concat("Relative Strength: ", Round(normalizeRSclose, 0)), CreateColor(43, 152, 242));

#Alert Capability
Alert( if Alerts_On and RSNHBP then yes else no, "Relative Strength Line New Highs Before Price", Alert.BAR, Sound.Ding);
Alert(if Alerts_On and RSNH then yes else no, "Relative Strength Line New Highs", Alert.BAR, Sound.Chimes);
 
@Leo1015 Would you please post screenshots of your custom column code and your errors?
I was able to get the study into the watch list and have the value listed in a new column but would like to change the background to red <40, 41 to 78 yellow and >79 green. Any suggestions with regards to the code needed?
 
Last edited:
Hi @rad14733

Here's the code that I inserted into the watchlist. Aside from the background, is it possible to also include an alert? Thanks again for the help.

Code:
# Plot the Relative Strength Line in ThinkorSwim
# Written by: @Diamond_Stocks @RayTL_ - TLScripts
# Site:     [URL]https://www.traderlion.com/[/URL] [URL]https://www.traderlion.com/tl-scripts/[/URL]
# V1

# Declare Lower Places a study on the lower subgraph. This declaration is used when your study uses values that are considerably lower or higher than price history or volume values.
declare lower;

# User Inputs
input show_RSNHBP = yes;
input show_RSNH = yes;

#Relative Strength Type - Candlestick to be added later.
input graphStyle = {default "Line"};

#3 Month, 6 Month, 1 Year RS
input TimeFrame = {default "Three_Months", "Six_Months", "1_Year"};

#Index SymbolRelation
input CorrelationWithSecurity = "SPX";

#Calculation TimeFrame
def aggregationperiod = AggregationPeriod.DAY;

#Chart Normalized Relative Strength Rating on Last Bar
def isLastBar = BarNumber() == HighestAll(if !IsNaN(close) then BarNumber() else Double.NaN);

#Turn on or off Alerts when cycling charts
input Alerts_On = yes;

#Add Chart Bubbble to Graph
input RS_Rating_ChartBubble = yes;

#Establish look back length:
def Length = if TimeFrame == TimeFrame.Three_Months then 63 else if TimeFrame == TimeFrame.Six_Months then 126 else 252;

#Get Index Close/Open/High/Low - Prep for Candlestick RS.
def indexopen = open(CorrelationWithSecurity, aggregationperiod);
def indexhigh = high(CorrelationWithSecurity, aggregationperiod);
def indexlow = low(CorrelationWithSecurity, aggregationperiod);
def indexclose = close(CorrelationWithSecurity, aggregationperiod);

#Get Relative Strength - Prep for Candlestick RS.
def RSopen = open / indexopen;
def RShigh = high / indexhigh;
def RSlow = low / indexlow;
def RSclose = close / indexclose;

def barCount = IF !IsNaN(close) THEN IF IsNaN(barCount[1]) THEN 1 ELSE barCount[1] + 1 ELSE barCount[1];

#Normalize Relative Strength
def newRngMax = 99; #Maximum normalized value
def newRngMin = 1; #Minimum normalized value

def HHDataclose = HighestAll(RSclose);
def LLDataclose = LowestAll(RSclose);
def HHDataopen = HighestAll(RSopen);
def LLDataopen = LowestAll(RSopen);
def HHDatalow = HighestAll(RSlow);
def LLDatalow = LowestAll(RSlow);
def HHDatahigh = HighestAll(RShigh);
def LLDatahigh = LowestAll(RShigh);

def normalizeRSclose = ((( newRngMax - newRngMin ) * ( RSclose - LLDataclose )) / ( HHDataclose - LLDataclose )) + newRngMin;
def normalizeRSopen = ((( newRngMax - newRngMin ) * ( RSopen - LLDataopen )) / ( HHDataopen - LLDataopen )) + newRngMin;
def normalizeRShigh = ((( newRngMax - newRngMin ) * ( RShigh - LLDatahigh )) / ( HHDatahigh - LLDatahigh )) + newRngMin;
def normalizeRSlow = ((( newRngMax - newRngMin ) * ( RSlow - LLDatalow )) / ( HHDatalow - LLDatalow )) + newRngMin;

#Chart RS Line and set appearence:
plot RSLine = RSclose;
RSLine.DefineColor("Positive", Color.UPTICK);
RSLine.DefineColor("Negative", Color.DOWNTICK);
RSLine.SetLineWeight(1);
RSLine.AssignValueColor(if RSLine[0] > RSLine[1] then CreateColor(43, 152, 242) else CreateColor(227, 88, 251));

#Get Highest RS Value
def highestRS = Highest(RSclose, Length);

#RSNHBPCondition
def RSNHBPcondition = if RSclose >= highestRS and close < Highest(close, Length) then highestRS else no;

#Plot RSNHBP Condition
plot RSNHBP = if show_RSNHBP and RSNHBPcondition == highestRS then highestRS else Double.NaN;

#Plot RSNH Condition
plot RSNH = if show_RSNH and RSNHBPcondition == no and RSclose == highestRS and isLastBar then highestRS else Double.NaN;

#Appearance Settings
RSNHBP.SetPaintingStrategy(PaintingStrategy.POINTS);
RSNHBP.SetLineWeight(2);
RSNHBP.SetDefaultColor(CreateColor(196, 94, 225));
RSNHBP.HideBubble();
RSNH.SetPaintingStrategy(PaintingStrategy.POINTS);
RSNH.SetDefaultColor(Color.GREEN);
RSNH.SetLineWeight(2);
RSNH.HideBubble();

#Add Label
AddLabel(yes, Concat("", Round(normalizeRSclose, 0)), CreateColor(43, 152, 242));

#Alert Capability
Alert( if Alerts_On and RSNHBP then yes else no, "Relative Strength Line New Highs Before Price", Alert.BAR, Sound.Ding);
Alert(if Alerts_On and RSNH then yes else no, "Relative Strength Line New Highs", Alert.BAR, Sound.Chimes);
 
@Leo1015 To the best of my knowledge we can't trigger alerts from within Custom Watchlist Columns... However, I'll give you a hint on condensing the conditional code in your Alert() calls for future reference...

Ruby:
#Alert Capability
Alert(Alerts_On and RSNHBP, "Relative Strength Line New Highs Before Price", Alert.BAR, Sound.Ding);
Alert(Alerts_On and RSNH, "Relative Strength Line New Highs", Alert.BAR, Sound.Chimes);
 
Last edited by a moderator:
Hi @rad14733

Here's the code that I inserted into the watchlist. Aside from the background, is it possible to also include an alert? Thanks again for the help.

Code:
# Plot the Relative Strength Line in ThinkorSwim
# Written by: @Diamond_Stocks @RayTL_ - TLScripts
# Site:     [URL]https://www.traderlion.com/[/URL] [URL]https://www.traderlion.com/tl-scripts/[/URL]
# V1

# Declare Lower Places a study on the lower subgraph. This declaration is used when your study uses values that are considerably lower or higher than price history or volume values.
declare lower;

# User Inputs
input show_RSNHBP = yes;
input show_RSNH = yes;

#Relative Strength Type - Candlestick to be added later.
input graphStyle = {default "Line"};

#3 Month, 6 Month, 1 Year RS
input TimeFrame = {default "Three_Months", "Six_Months", "1_Year"};

#Index SymbolRelation
input CorrelationWithSecurity = "SPX";

#Calculation TimeFrame
def aggregationperiod = AggregationPeriod.DAY;

#Chart Normalized Relative Strength Rating on Last Bar
def isLastBar = BarNumber() == HighestAll(if !IsNaN(close) then BarNumber() else Double.NaN);

#Turn on or off Alerts when cycling charts
input Alerts_On = yes;

#Add Chart Bubbble to Graph
input RS_Rating_ChartBubble = yes;

#Establish look back length:
def Length = if TimeFrame == TimeFrame.Three_Months then 63 else if TimeFrame == TimeFrame.Six_Months then 126 else 252;

#Get Index Close/Open/High/Low - Prep for Candlestick RS.
def indexopen = open(CorrelationWithSecurity, aggregationperiod);
def indexhigh = high(CorrelationWithSecurity, aggregationperiod);
def indexlow = low(CorrelationWithSecurity, aggregationperiod);
def indexclose = close(CorrelationWithSecurity, aggregationperiod);

#Get Relative Strength - Prep for Candlestick RS.
def RSopen = open / indexopen;
def RShigh = high / indexhigh;
def RSlow = low / indexlow;
def RSclose = close / indexclose;

def barCount = IF !IsNaN(close) THEN IF IsNaN(barCount[1]) THEN 1 ELSE barCount[1] + 1 ELSE barCount[1];

#Normalize Relative Strength
def newRngMax = 99; #Maximum normalized value
def newRngMin = 1; #Minimum normalized value

def HHDataclose = HighestAll(RSclose);
def LLDataclose = LowestAll(RSclose);
def HHDataopen = HighestAll(RSopen);
def LLDataopen = LowestAll(RSopen);
def HHDatalow = HighestAll(RSlow);
def LLDatalow = LowestAll(RSlow);
def HHDatahigh = HighestAll(RShigh);
def LLDatahigh = LowestAll(RShigh);

def normalizeRSclose = ((( newRngMax - newRngMin ) * ( RSclose - LLDataclose )) / ( HHDataclose - LLDataclose )) + newRngMin;
def normalizeRSopen = ((( newRngMax - newRngMin ) * ( RSopen - LLDataopen )) / ( HHDataopen - LLDataopen )) + newRngMin;
def normalizeRShigh = ((( newRngMax - newRngMin ) * ( RShigh - LLDatahigh )) / ( HHDatahigh - LLDatahigh )) + newRngMin;
def normalizeRSlow = ((( newRngMax - newRngMin ) * ( RSlow - LLDatalow )) / ( HHDatalow - LLDatalow )) + newRngMin;

#Chart RS Line and set appearence:
plot RSLine = RSclose;
RSLine.DefineColor("Positive", Color.UPTICK);
RSLine.DefineColor("Negative", Color.DOWNTICK);
RSLine.SetLineWeight(1);
RSLine.AssignValueColor(if RSLine[0] > RSLine[1] then CreateColor(43, 152, 242) else CreateColor(227, 88, 251));

#Get Highest RS Value
def highestRS = Highest(RSclose, Length);

#RSNHBPCondition
def RSNHBPcondition = if RSclose >= highestRS and close < Highest(close, Length) then highestRS else no;

#Plot RSNHBP Condition
plot RSNHBP = if show_RSNHBP and RSNHBPcondition == highestRS then highestRS else Double.NaN;

#Plot RSNH Condition
plot RSNH = if show_RSNH and RSNHBPcondition == no and RSclose == highestRS and isLastBar then highestRS else Double.NaN;

#Appearance Settings
RSNHBP.SetPaintingStrategy(PaintingStrategy.POINTS);
RSNHBP.SetLineWeight(2);
RSNHBP.SetDefaultColor(CreateColor(196, 94, 225));
RSNHBP.HideBubble();
RSNH.SetPaintingStrategy(PaintingStrategy.POINTS);
RSNH.SetDefaultColor(Color.GREEN);
RSNH.SetLineWeight(2);
RSNH.HideBubble();

#Add Label
AddLabel(yes, Concat("", Round(normalizeRSclose, 0)), CreateColor(43, 152, 242));

#Alert Capability
Alert( if Alerts_On and RSNHBP then yes else no, "Relative Strength Line New Highs Before Price", Alert.BAR, Sound.Ding);
Alert(if Alerts_On and RSNH then yes else no, "Relative Strength Line New Highs", Alert.BAR, Sound.Chimes);
Could you please update the code to include the coloring of the watchlist cell? I tried to do it after watching the suggested video but was only able to get the relative strength number and not the cell color.
 

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