To plot the swing high you could code it like this: This would paint a dot on all the swing highs, and nothing everywhere else. Realize that the data-feed for Stock Charts may not be the same as that for TOS but that should not likely cause any conflicts because the source of all data is the exchanges. else if type == type. Also, this version allows the user to select the number of bars for the linear regression plot in lieu of the previous two studies that use the entire chart (all bars). You are using an out of date browser. Comment: The effectiveness of this system has not been verified. You start with the first input value as the left most value in the reference. Or it may be a arithmetic type like 'do nice * index' which multiplies folds internal variable, nice, by the index value. Futures and forex accounts are not protected by the Securities Investor Protection Corporation (SIPC). If the script engine hits the stop value youll get a run-time error message. Note that int max offset is a fixed integer value, while IDataHolder dynamic offset is an expression that defines the offset value. They are also excellent for correlating the looks of a candle with its title. ', Alternate 1 = Stocks in top 10 percentile of their 52-week high-low range, Alternate 2 = Stocks between 47% and 53% (or the middle of) their 52-week-high-low range, Alternate 3 = scan to find stocks which made new 20-day-low, Alternate 1: Stocks that have a RSI under 20 for 3 days and a closing price above the 200 SMA, Plot scan = (RSIWilder(length = 2) < 20 && RSIWilder(length = 2)[1] < 20 && RSIWilder(length = [2] < 20 && Close > SimpleMovingAvg(length = 200)), Alternate 2: stocks that have a 3-day RSI under 20 a closing price above the 200 SMA, Plot Scan =(RSIWilder(length = 3) < 20 && Close > SimpleMovingAvg(length = 200)). Comment:The three following comparison studies herein that are different as clarified below: "COMPARISON OF ALL SECTORS OF THE S&P 500 (SPX)" plots all sectors of the S&P 500 (SPX) as absolute percent change all starting at 0 percent. declines = close("$DECN"); that are non-receptive to comparison, you can normalize each of the two (or more) crossdown.setDefaultColor(color.light_red); else if price == hl2 then "hl2" Plots a straight linear regression line for whichever of the eleven choices you have selected. Defines an action to be performed, for each loop, when calculating the fold function. AddLabel(yes, "Current True Range is " + AsDollars(TrueRange(high, close, low)),color.cyan); AddLabel(yes, "10 period SMA of Close price using 1/32nds price notation (XXXYYZ) = "+ AsPrice(Average(close, 10)),color.cyan); Comments: The 11 choices of Price are close, high, hl2, hlc3, imp_volatility, low, ohlc4, open, open_interest, volume, vwap. Click 'studies' then 'Add Study' then 'Compare With', If none of the ready-made comparisons have what you want, then click 'Custom Symbol.'. The indicator stays 'red' after the Moving Averages cross. declare zerobase; Sometimes it can give false entries but im not automating this so it doesnt matter for me, just dont blindly follow the long entries make sure they make sense to you and your trading style! declare upper; Mobile compatible. Def Example6 = sum(close < close[1],5) == 5;# The has declined for the last 5 bars. Plot RSI_Cross_Below = RSIWilderCrossover(threshold = 30, crossingType = "Below").signal; The above reads 'scan for when the RSI Wilder crosses below 30'. def LunchTime = TwelveOclock > 0 && TwelveOclock[1] 0; AddVerticalLine(MarketOpen or LunchTime,if MarketOpen then "TIME TO TRADE!" Using 'NumberFormat.DOLLAR' produces the same look as using 'AsDollars'. Access to real-time market data is conditioned on acceptance of the exchange agreements. You may have a label take on the same color as a plot. case AMEX: Script show. A linear regression channel is a representation of trend direction and volatility. plot RefLine = Ref_val; Linear Regression Trading Strategy for ThinkorSwim - useThinkScript Defines whether the line should be drawn as solid, long-dashed, or short-dashed. You would use 'CompoundValue' to prevent the longest reference being used by initializing the affected calculation with the 'CompoundValue' function. You now use 800 test cases to . plot Days = if DaysFromDate(BeginDate) >= 0 and DaysFromDate(BeginDate) DaysToPlot then Price else double.NaN; AddLabel(1, "If you do not see a plot, check if the chart timeframe cover the input date", Color.WHITE); #plots the current price across an entire chart.. a true snippet. 'Percentage view' may be initiated in three ways: By going to 'chart settings/price axis' tab and checking the boxes per the picture below. the close > SimpleMovingAvg(21). def term = x*price2[1]; # = factor * previous high SUMMARY. Better trades with simple strategies, proven indicators, and a community of support, The Best Collection of thinkorswim Scripts, 2,000+ Traders in the Private Discord Community, 50+ Proven Strategies, Setups, & Chart Examples from Pro Traders, Get Answers To Your Questions From Seasoned Traders. plot VolAvg = Average(volume, length); Vol.SetPaintingStrategy( PaintingStrategy.HISTOGRAM ); Returns the number of seconds from/till the specified time (24-hour clock notation) in the EST timezone. Have a question about thinkScript code, ThinkorSwim, or trading in general? def crossingup = price crosses above avg; else if price == VWAP then "The price-variable selected is VWAP = " + Round(VWAP,0) The code is written so that it takes profit after a .2% increase from entry, for scalps. def dayOpen = if firstBar then high else dayOpen[1]; plot x = dayOpen; After installing the %HL you access editing it by right-clicking the watchlist column headings to customize and follow the Not to mention the rainbow of colors. To re-establish, click 'Add Fundamental Filter'. Previous versions of TS would require this to be written input type = {default "Advance/Decline Line", "Advance/Decline Line (Breadth)", "Advance/Decline Line (Daily)", For intra-day only. You may be able to eliminate the error if you break up a long series of if-conditions into simple sub-conditions and then combine the sub-conditions into an overall 'If' statement. The heart of the fold function is the 'do expression' which is crucial for success but is not naturally intuitive. Occasionally this color is hard to read if it is close to your screens background color. This RSI is in conjunction with a MACD. Rather than define a variable, the fold may be plotted directly i.e. Orders placed by other means will have additional transaction costs. In summary, all date/time functions beginning with 'Get..', except for GetDayOfWeek and GetDayOfMonth, have no parameters. That just means that it'll be referencing its own last value ( count [1] ) Also, take a look at the AddChartBubble function. The ADX can be bullish or bearish depending on whether the DMIplus is greater than the DMIminus. level = 1; Same for the reverse case. There are two way to compose this text using 'concat' or '+' syntax(known as the string concatenation symbol). Otherwise an error is produced. You may add these info bubbles to your studies. input percent = 20;#hint percent: Enter the percent increse/decrease Using multiple time frames to plan entries is smart ( See Article ). AddLabel(yes, "Arrow is at time = " + AsPrice(time) +" of each day" ,color.white); #hint: MovingAverage Crossover - Once Per Chart\nThis study shows arrows when the price crosses the moving average. Defines the number of bars for which the linear regression is calculated. This simple fold sums the 'index' values. You must, Super 6x: RSI, MACD, Stoch, Loxxer, CCI, & Velocity [Loxx] for ThinkOrSwim, How To Enable Thermo Mode For ThinkOrSwim, NQ 1 minute Scalping Indicator For ThinkOrSwim, Scan request: current price is down 1.5 times of ATR, Indicator for 3rd consecutive swing low or high needed. The third parameter, int max offset,is a fail stop value to prevent an endless loop in the scripting engine. However, there are keyboard hotkeys that facilitate editing activities. def TwelveOclock = secondsFromTime(1200) > 0; else if type == type. Our forum can be intimidating, if not overwhelming. 2023-04-21 / channel_cylinder-z-MOL - ccse.lbl.gov GetDayOfMonth(int yyyyMmDd);#Returns number of the day in the month. This provides a ready place to go to to get the code words to paste. else if price == open then "open" The people on the ThinkScript Lounge and Yahoo TOS_ThinkScript generously contribute much time and effort helping those learning and using ThinkOrSwim and ThinkScript. An example is input endDate = 20100101; Functions that use GetYYYYMMDD() as a parameter are: GetDayOfWeek(int yyyyMmDd);#Returns the day of week from 1 (Monday) to 7 (Sunday). In that case: It has been observed that using more than one secondary aggregation may affect the proper plotting. You may find these especially beneficial to learn and comfortably use them. Trading Standard Deviation Channels - Incredible Charts - The use of the word 'reference' is optional but, if 'reference' is omitted, the () must always follow the studys name. Using the examples guides you re what parameters are applicable and how you may change them to suit your desires. Any suggestion for improvement or inclusion are welcome. This is known as the bearish regression channel. Futures, futures options, and forex trading services provided by Charles Schwab Futures & Forex LLC. Automatically identifies the most popular harmonic patterns. Please feel free to fork and send me pull requests or corrections and additions. Info hints were also added to be more informative. Similarly, percent differences can be read between any two bars on the chart. def chg = 100*(price/avg -1); Script show), input price = close;#hint price:Select the price of choice thinkScript code indicators for use with ThinkorSwim platform. The wizard is auto accessible when coding new studies. In the above chart the capitalized words are the names used to specify that color i.e. "DI-", Scan for the MACD Histogram value crossing from positive to negative or vice versa. Defines the algorithm to calculate the distance at which the lines are plotted: Standard deviation(standard deviation of price), Standard error(standard deviation between price and regression line), Equidistributed deviation (average deviation between price and regression line), Raff channels (maximum deviation between price and regression line), Raff channels high/low (maximum deviation between high/low and regression line) , or Segment high/low (deviation between maximum high/minimum low and regression line). Suggest: To get a meaningful scan use: 1) fundamental filter: close >=10, and 2) study filter: VolumeAvg(50) >= 500000. Set this property to "No" in order to hide the regression channel. DAYS AGO, Return 'the day-of-the-week' of the first bar of the chart, SecondsFromTime() & SecondsTillTime() & others, C-'BATTLE OF THE BANDS' RE IMPLIED VOLATILITY, C-VOLUME LABEL AS A PERCENT OF AN INPUTTED X-DAYS-AVG-VOLUME, T&C-EXAMPLES OF THE USAGE OF THE 'SUM' FUNCTION, C-HOW TO SHOW WHEN A CANDLE PATTERN EXISTS ON A CHART, C- IMP_VOLATILITY() PERCENTILE PLOT WITH LABELS, C-MINUTES-AGO SINCE A TURN-UP OF A MOVING AVERAGE, C- NORMALIZED MACD AND STOCHASTIC PLOTTED WITH A SQUEEZE INDICATION, C-ILLUSTRATION OF SAME RESULT WITH DIFFERENT CODING, C&S-FLEXIBLE 200-DAY MOVING AVERAGE PLOT AND SCAN, C-AN ALTERED 'PERCENTCHG' TO MAKE IT MORE USEFUL, C-LINEAR REGRESSION OF THE PROJECTIONBANDS STUDY, C-CLARIFICATION OF THE FOLLOWING THREE COMPARISON STUDIES, C-COMPARISON OF ALL SECTORS OF THE S&P 500 (SPX), C-PERCENTAGE PRICE OSCILLATOR (PPO) WITH COMPARISON SYMBOL, C-'Ichi_TK_Exit_Warning' --- AN EARLY ICHIMOKU T-K EXIT STUDY, C-'IchiOneGlance'--ALL MAIN ICHIMOKU CRITERIA IN DASHBOARD FORMAT, C-'Ichi_Signals'IDENTIFIES ALL MAJOR ICHIMOKU SIGNALS FOR LEARNING OR USE, WLC-PRICE-TO-EARNINGS (P/E) RATIO FOR A WATCHLIST COLUMN, WLC-WHEN A DIVERGENCE EXISTS BETWEEN PRICE AND THE MACD, S-DMI_OSCILLATOR SCAN FOR TRENDING-UP STOCKS, S-SCAN RSI UNDER 20 & CLOSE > 200-DAY SMA, S-SCAN CROSS OF STANDARD DEVIATION CHANNEL, S-NOTEWORTHY RESOURCE FOR PREDEFINED SCANS, S-NEW BULLISH CLOSE ABOVE THE ICHIMONU CLOUD, S-CROSSING ABOVE & BELOW THE ICHIMOKU CLOUD, T-A REFERENCE RECALL OF A STRATEGYS RULES (SETUP), T-USING MULTIPLE TIME FRAMES TO PLAN ENTRIES, T-WIZARD ACCESS FOR EDITING EXISTING STUDIES, T- VERTICAL LINES AT MARKET OPEN AND CLOSED TIMES, T-EASILY VIEWING CHARTS OF STOCKS IN A LIST, T-NAVIGATION VIA KEYBOARD HOTKEYS vs THE MOUSE, T-DEFINING AND APPLYING CONDITIONS IN A STUDY, http://demo.thinkorswim.com:7001/manual/metal/thinkscript/reference/Functions/Others/If.html, http://demo.thinkorswim.com:7001/manual/metal/thinkscript/reference/Reserved%20Words/if.html, https://tlc.thinkorswim.com/center/charting/thinkscript/reference/Functions/Look---Feel/GetColor.html, https://www.thinkorswim.com/tos/thinkScriptHelp.jsp?laf=dark#constants, http://en.wikipedia.org/wiki/List_of_colors:_A%E2%80%93F, http://en.wikipedia.org/wiki/X11_color_names, http://tda.thinkorswim.com/manual/metal/thinkscript/tutorials/advanced/referencing/other%20study.html, https://tlc.thinkorswim.com/center/charting/thinkscript/tutorials/Chapter-13---Past-Offset-and-Prefetch.html, http://groups.yahoo.com/neo/groups/TOS_thinkscript/info. else' format. You change the condition-def statements to plot statements. Comment: Clouds create nice looking charts. Comment:HV and IV do not plot on intraday. There are three ways to specify parameters: (1) Full form; (2) Compact form; and (3) A combo of (1) and (2). Hence, this section will be as thorough as possible with many examples to illustrate their usage. Complexity may become an issue especially if the servers are loaded up. input IntraDay = Yes;#Hint IntraDay:Yes for intraday only plot VolPct = 100 * data; Application will automatically adjust the slope of the lines based on linear regression. When GetYYYYMMDD() is compared to an inputted date the commas are omitted in the input date. is inclusive but is exclusive. A distance of +/- 3 SD from the average will include 99.7% of the 100 datapoints(0.997 X 100 = 99.7). Thinkscript - An Introductory Guide - AlgoTrading101 Blog Fold will normally work in a scan and custom columns. input Mkt_Start = 0930;#hint Mkt_Start:Show market start time e.g. else if price == hlc3 then "hlc3" Any moving average may be had by use of the flexible input selections. SecondsFromTime and SecondsTillTime use a HHMM format. i think more important than anything is your linear regression blue line . Main Phone Number: 248-960-7060 | Email: building@commercetwp.com. In order to add the regression channel to chart, choose it from the Active Tool menu. Note: after recalculation, the bars will be added to or removed from the right endpoint of the lines. Bullish Scan: The MACD value crosses above the MACD average while both are below zero. VolAlert.SetDefaultColor( Color.GREEN ); If the difference (B4 - NOW) is negative the percent is also negative i.e. may be any TOS features worth knowing. In order to use Thinkscript functions you will need to navigate to their respective drop menu that is found on the right side of your scripting station. This can be done by setting up a grid of 4 components, as an example. Lets say you want a calculation to repeat 5 times. This study indicates "+1" when the current value of Linear Regression Curve is equal to or greater than that of the previous bar and "-1" otherwise. "Advance/Decline Ratio" then "Advance/Decline Ratio" Functions that take a look back value or length, such as average( data, length ), highest( data, length ), etc. Usage example: You may have a stock plotted on the upper panel:Say an oil company, CVX. Note the overbought and oversold levels are predefine as 80/20 respectively and cant be changed when using this crossover study. Hence, if you have two folds in a study and you assign 'idx' to in the first fold you cannot assign 'idx' to in the second fold. Inside the red box you can trade off both sides of the channel. If your answer was not 7, rethink it. Naturally the aggregation is set to what you want to count like days, hours, 15 min bars, etc. }, switch (type){ This will create an error. The default parameters are price = close, length = 15. The "TOS and Thinkscript Snippet Collection" by Stanl means that the data is variable 'inputted' data defined by the user. It is easy to see that the result will eventually reach infinity for a normal sized chart. advnDecl = advances / (advances + declines); In studies or strategies, ThinkScript runs your script once for each and every bar on your chart, regardless of the aggregation period. Cut the selected item. The solution is to pare the script down to its essence and apply some good ole brain power to the data. Naturally any valid condition may be substituted for the one shown. The aggregation for this is day. #. If your definition of the label text involves long and multiple 'ifthenelse' statements, to insure that they all print, enclose each 'ifthen else' statement in parentheses e.g. Here is a hypothetical example to help you better understand the importance of regression testing: Let's say you're a software developer who recently got a project to develop an editing app. There are many instances when the built-in studies are copied and reused so you may add your own features be they technical or just look-and-feel coloring. This form is a function and returns a type of double that is very useful for the if-then-else statements/expressions when you are processing numbers and nesting. Compare the two. In general, success in terms of and algorithm of actions, and not some magic scripts. plot Vol = volume; The labels text can be defined using using 'concat' or '+' which is known as the string concatenation symbol. However, at times, clicking the right location can take many tries. 0 to 100%, -1 to +1, -100 Linear Regression indicator For ThinkOrSwim - YouTube The volume histogram; 2. This indicator will work on any instrument and on any time frame. Not related to the above = and == is the "bang" (exclamation mark). This defines how many times the fold calculation loops on each bar. declare upper; Date/Time. Once again, you must preserve the parameters position rule. The example used here, %HL, is a custom column study available at http://mytrade.com/StanL Of course, you will need The above reads as 'scan for when the 14 period fast stochastic crosses above 80'. An aside: A calculated value of -0.0331 will be formatted with 'AsPercent' to show the below label in cyan. Trading higher timeframes in futures can be rather inefficient for many traders as they do not have access, capital, and/or the stomach to trade positions for that long. http://demo.thinkorswim.com:7001/manual/metal/thinkscript/reference/Reserved%20Words/if.html . The above is a study named Bar_Number_Plot_Interval.txt available at http://mytrade.com/StanL. def timeTest = SecondsFromTime(time) == 0; - Reference the vwap study like .plot MyVWAP1 = reference VWAP; The impact of 'double' is that constants such as the names of the 23 ThinkScript colors, like LIGHT_RED, BLUE, UPTICK, etc., are not floating point numbers and hence cannot be used in this immediate-if. cannot be normalized. With the Polynomial Regression Channel, you have the upper band, the lower band, and the neutral band. The official YouTube channel for useThinkScript.com Subscribe useThinkScript Home Videos Playlists Community Channels About Videos Play all 8:51 Swing Trading Scanner for ThinkorSwim 34K. level = 0; plot factorial = fold index = 1 to n + 1 with Var = 1 do Var * index; Calculates the factorial of a number. When writing code you may not have the coloring coding at your finger tips. Scanning for stocks that have just crossed over produces less hits that a scan that looks for a xOver within one (1) day. Using a reference without parameters specified, TS will use the default which is "Positive to Negative". This is a very easy way toimplement these scans since all the parameters are presented for easy assgnment. To define and name a color for use in multiple plots do as follows: Note that UPTICK and DOWNTICK are TOS predefined color constants. You may need to learn other ways of specifying aggregation to read other peoples code such as in the built-in DailySMA. TOS provides a good source for pre-market movers that is accessed in the left panel by: (1) Click the + at the bottom of the left panel; (2) click 'Use The News'; and (3) Select Pre-Market Movers. Code related to such a bar is below: Comment: HideBubble() Makes the last value bubble of a plot invisible. each parameter/input has a fixed location in the list. Building Applications | Charter Township of Commerce, MI This allows 'smlCount' to rise to 1000 and then it limits smlCount toa value of 1000. plot Test = fold i = 0 to 4 with x = 1 do x + i; What is the value of test? Comment: You have a watchlist in either the left-hand panel or in 'Market Watch/Quotes'. 'nice + idx3' then becomes the new value of the internal variable nice and nice is available for the next loops calculation. 'AccDist' has no parameters and Figures 3,4,5 brought to light some interesting aspects. work because the internal logic of the function performs the action of looking back. TD Ameritrade does not make recommendations or determine the suitability of any security, strategy or course of action for you through your use of our trading tools. def Lowest_Low = If(MktIsOpen and Show, LowestLow, Double.NaN); plot HH_LL_Pct = ((Highest_High / Lowest_Low) - 1) * 100; Example: plot MyVWAP1 = VWAP(); In studies, you may reference built-in studies but not user-defined studies in (currently). The label function is AddLabel(boolean visible, Any text, CustomColor color); and has three components. ' Re the recent release & Renaming studies. All four below produce the same result and also illustrate the ways to use references. Plots a single curve in which you have defined the type of price and the number of bars as the basis for the curve. If that trendline holds it will CIT stock to bounce from here but if it breaks that will be a mjor reversal to downside . As converting from PDF is a lot of work, This is a work in These can be located within the channel and outside it. else if price == VWAP then "VWAP" Notice that the colon is placed after the input variable name (in this case Length). This is known as a runaway calculation. My Motivations: I found the pdf hard to read at times and I want the great work In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Page 160. MA200.SetDefaultColor(Color.DARK_ORANGE); Hence it is not addressed herein. The bottom label was added to the built-in for clarity. However, user-defined studies may be referenced in scans. This means that 'nice' is the with that fold has been keeping tract of internally and '+ idx3' is the current loops calculated value that is to be added to nice. scan = chg >= percent; TD Ameritrade, Inc., memberFINRA/SIPC, a subsidiary of The Charles Schwab Corporation. Example: for example check this trendline on daily one year chart for swbi , also look at one year daily chart on CIT , join Reg blue trendline for april 27th , june 3rd and present lows to form a trendline. This 'with ' is the value that will be added to when you see code like 'do nice + idx3'. Definition = 'Linear regression' is a mathematical procedure know as the 'least-squares method', used for drawing the best straight line thruogh a group of data points. No other changes, except that I added Bitcoin to the test group. Defines the time scale value corresponding to the begin point. def . For details, see ourProfessional Rates & Fees. else if price == ohlc4 then "ohlc4" Plot scan = Crosses( MACD( 12, 26, 9, "SMA" ).Avg, 0, CrossingDirection.Below ), Comment: When entering the scan, the set aggregation defines the length of a bar. A nesting (putting ifs within ifs) example, in the recommended layout for easy reading, is: Note that the last 'else open' relates to the 'if close > open' and applies when the intermediate 'else-if close = open' is not true. select 'pointer' to re-establish it. and our The easiest will be listed first. else if price == open then "open" Linear Regression Divergence Scanner - useThinkScript Community View indicator tutorial list. StanL did to live on. A picture of the setup is shown below: Comment: The Sequence Counter is used as an example and is not a recommended indicator: reviews are not in unison. Regular grids is suggested in lieu of flexible grids. See: http://tda.thinkorswim.com/manual/metal/thinkscript/reference/Constants/PaintingStrategy/PaintingStrategy.VALUES_ABOVE.html. case increase: crossup.hidetitle(); Plot Crossdown = !mostRecentOnly and crossingdown; since/when close is not a number then 'isnan(close)' reads as true. This section is intended to clarify their differences and usage. Go to 'Drawings' and select the 'Pan' tool .