Market volatility, volume and system availability may delay account access and trade executions. This document also proovides a reference for future coding activities. Of the five sub-disciplines of Marketing Science-tracking and measurement, data visualization, testing and evaluation, data integration, and statistical modeling-you're a rock star in at least two. "DI+" > DIMinus(). crossup.setPaintingStrategy(paintingStrategy.BOOLEAN_ARROW_UP); i think more important than anything is your linear regression blue line . The names assigned and are persistent variables. This is a limitation of ThinkScript that we must live with as best we can. If aggregation is set to 'Day' then 'agg-bars ago' is 2 days go, Ichimoku scan for crossing above the cloud, close crosses above Max(Ichimoku(). else if price == open then "open" - Reference the vwap study like .plot MyVWAP1 = reference VWAP; input Mkt_End = 1600;#hint Mkt_End:Show market end time e.g. Another example that you may try as a work-around is as follows: Realize also that overly complex if-conditions are only one aspect that generates the 'too complex' error. TD Ameritrade, Inc., memberFINRA/SIPC, a subsidiary of The Charles Schwab Corporation. This code plots candles relative to the centerline of the linear regression channel (the linear regression line) and shows the movement relative to that. s accomplished. It provides a more responsive Stochastic for day trading. Using 'NumberFormat.DOLLAR' produces the same look as using 'AsDollars'. The aggregation for this is day. Here is a free one at a premier charting sites, Stock Charts, Check this out for Predefined Scans. see an example under 'VERTICAL LINES (3 STUDIES)'. This RSI is in conjunction with a MACD. 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. It may not display this or other websites correctly. Clients must consider all relevant risk factors, including their own personal financial situation, before trading. However, there are a number of places in TOS like Study Filters, Study Alerts, Custom Quotes, and Conditional orders that are allowed to use referenced studies. Comment: The label is complex and a good example of the use of '+' in lieu of the concat function. A linear regression channel is a representation of trend direction and volatility. The distance of each of the 100 datapoints from the average is used to calculate (via a mildly complex formula) what is called the Standard Deviation (often abbreviated as SD). Ratio_vol.HideBubble(); "Span B"), Ichimoku scan for crossing below the cloud, close crosses below Min(Ichimoku(). else if exchange == exchange.NASDAQ then "NASDAQ" This nested-if reads as: If close is greater than the open then plot the close. When the DMIplus is greater than the DMIminus the ADX is 'Bullish' or vice versa is See: http://tda.thinkorswim.com/manual/metal/thinkscript/reference/Constants/PaintingStrategy/PaintingStrategy.VALUES_ABOVE.html. Even the label coding is neat. Set this property to "No" in order to hide the regression channel. The people on the ThinkScript Lounge and Yahoo TOS_ThinkScript generously contribute much time and effort helping those learning and using ThinkOrSwim and ThinkScript. The multiple conditions may be used to define a conditional statements. are different from the normal chart aggs. An example is -- #hint: Plots a trend line between the two input dates. Comment: An inside bar is a frequent item of interest. then. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. If the difference (B4 - NOW) is negative the percent is also negative i.e. This will create an error. Set agg = day. scan = chg >= percent; work because the internal logic of the function performs the action of looking back. input length = 10;#hint length:The length of the average volume plot When it turns green you are in the safe zone. Ideally it should be set to the maximum number that the dynamic index is expected to be. AD.DefineColor("Down", Color.DOWNTICK); to go to that page When there, you can return to to the TOC by clicking Return to TOC. means that the data is variable 'inputted' data defined by the user. When there you can easily explore the available functions. Standard deviation channels are plotted at a set number of standard deviations around a linear regression line. script. Comparison to another stock, index or any instrument having a symbol. Defines the time scale value corresponding to the end point. If there is no bar, TOS will have a problem. advnDecl = advances - declines; input GapPct = 0.5;#Hint GapPct: The gap-up percent not plotted). The statement "if AggPeriod == AggregationPeriod.DAY then else;" reads: if the variable AggPeriod equals (is the same as) AggregationPeriod.DAY then do something else (otherwise) if its not, then do some other thing. For example, you may want this to show based on 2 weeks in lieu of 3 weeks. No matter what the timeframe, in those contexts (scans, etc. 5 run average: 4.752 s. Relative performance: 0.7% faster. scan = chg -percent; Once again, you must preserve the parameters position rule. An example is: def SlowK = StochasticSlow( 80, 20, 10, 10, smoothingType = "SMA" ).SlowK; Here you have omitted the price parameters. "Span A", Ichimoku(). Vol.SetPaintingStrategy(PaintingStrategy.HISTOGRAM); The above reads 'scan for when the 15 bar exponential moving average crosses above the close'. You can use either the ThinkScript functions or calculate the variables for Linear Regression and Standard Deviation which ever you prefer. 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. Application will automatically adjust the slope of the lines based on linear regression. Below you see 5 conditions and plots showing when each condition is true or false ( 1 or 0). A plot of the ADX is optionable. scan.SetDefaultColor(Color.White); Set this property to "On" to extend the regression channel all the way to the left. function identified by the snippets title:Sort of a building block. So if 'isnan(close)' is true i.e. Def Example4 = sum(close > close[1],5) >= 5;#Is true when the close has been rising (trending up) for the last 5 bars. Suggest: To get a meaningful scan use: 1) fundamental filter: close >=10, and 2) study filter: VolumeAvg(50) >= 500000. This is a reminder of an especially valuable resource for new learners of ThinkScript as well as a refresher for you 'pros' out there. Vary the "width of channel" and length to suit your own preferences. I think the settings I use are the best ones, I have tried different values over the last several years, but these seem to work the best across all time frames. else "ERROR"),color.white); Placing the cursor over an arrow, you can see what conditions are firing (are 1, true) to produce that arrow. The third parameter, int max offset,is a fail stop value to prevent an endless loop in the scripting engine. else if price == ohlc4 then "ohlc4" CustomColor color' defines the background color of the label box. be call an 'Almanac'. def term = x*price2[1]; # = factor * previous high Portable Document Format = the type of file format of this document. This is known as the bearish regression channel. High positive values of the slope might indicate a buying opportunity, while low negative values can be considered a signal to sell or open a short position. The script below may be useful. else "ERROR"), Color.WHITE); #hint:Moving Averages\nShows the ? Excellent examples of the power of if..then..else can be seen in these documents herein: ADD AN INDEX OR FUTURE LOWER CHART and SLOPE OF AN AVERAGE. Comment: Although there are many stochastis studies out there, this one looked very useful. scan.SetLineWeight(5); The coding of these may be copied and reused in your own studies but built-ins cannot be changed. Lets say you want a calculation to repeat 5 times. Comment: Above plots a horizontal line at a value of 1 (true)for 90 days. at http://mytrade.com/StanL ) tells where, in todays prices, a stock is now i.e. If not determine where your thinking went astray. Harmonic Pattern Collection The only harmonic pattern indicator for Thinkorswim that is fully endorsed by Scott Carney, the president and founder of HarmonicTrader.com. Each non-builtin indicator will be listed in this Snippet Collection. Start a new thread and receive assistance from our community. They are: (1) Bearish candle plots.txt; and (2) Bullish candle plots.txt. A simple example is: plot MyMACD = reference MACDHistogram; Occasionally a study and a function may have the same name e.g. This allows you to choose only the variables you want to change. declare zerobase; 1600. def Past_Mkt_Start = IfSecondsTillTime(Mkt_Start) > 0), 0, 1); def Past_Mkt_End = If((SecondsTillTime(Mkt_End) > 0), 0, 1); def MktIsOpen = If(Past_Mkt_Start and !Past_Mkt_End, 1, 0); def day = GetDay(); def lastDay = GetLastDay(); def Today = If(day == lastDay, 1, 0); def Show = If(IntraDay and Today, 1, If(!IntraDay, 1, 0; BollingerBandsSMA(). if SlowK > SlowD then color.green else if SlowK < SlowD then color.red else color.gray. Also this form can be used with else to create more complex conditions. Counting is often used. The 'fromDate', 'toDateand 'tillDate' used in CountTradingDays, DaysFromDate and DaysTillDate are all in the YYYYMMDD format. Buying / selling above and below the middle line doesn't even really make sense, as price is expected to travel up and down within the channel. Some are especially useful at selecting text by letter, word, line, paragraph, window, etc. Line, Bar, Candle, or the color. If you are new, or just looking for guidance, here are some helpful links to get you started. This PDF takes VolAlert.SetLineWeight(2); Notice that the colon is placed after the input variable name (in this case Length). Pre market scans are not very efficient. LINE is the default if none is specified. Compare the two. The calculation for the percentage shown is: (current price close price of 0%-selected-bar) / close price of 0%-selected-bar * 100. def close1 = First(price);#Defines the first bar value. For example: Price.SetDefaultColor(GlobalColor("Purple")); Data.SetDefaultColor(GlobalColor("normal"));# Provided 'normal' is previously defined. where ???????? "); So when/why would you include this. input IntraDay = Yes;#Hint IntraDay:Yes for intraday only Spreads, Straddles, and other multiple-leg option orders placed online will incur $0.65 fees per contract on each leg. declines = close("$DECN"); Many items herein originated on the those chatroom postings. This is my first code i've written. def crossingover = close("Greatest Show Ever! the close > SimpleMovingAvg(21). 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. This procedure is applicable for all saved custom studies. No other changes, except that I added Bitcoin to the test group. Vol.DefineColor("Up", Color.UPTICK); def timeTest = SecondsFromTime(time) == 0; Prior to trading options, you should carefully read Characteristics and Risks of Standardized Options. The above formula scan will give you values between 1 to -1. def chg = 100*(price/avg -1); How did you expect to display two numerical results in each single cell? Alternate 2: Cross 3 days back. StanL did to live on. However, there are keyboard hotkeys that facilitate editing activities. advnDecl = AbsValue(advances - declines); level = 0; For example, if it is a true/false type then the fold results will be a true/false. Note the overbought and oversold levels are predefine as 80/20 respectively and cant be changed when using this crossover study. Not every script that works on a chart/study is worthy of putting in a custom column. "Span B"). Usage: 'input data = close' is substituted by any indicator and its parameters. After installing the %HL you access editing it by right-clicking the watchlist column headings to customize and follow the === below items not needed for a scan # In words value1 is 224% of value2. def previousClose = if barNum == highestBar - 1 then close else Double.NaN; CloseLine.SetDefaultColor( Color.gray); #Hint: Plots the %-change-of-the-first-bar-value. The best major signal come when the two oscillators line up. Vol.DefineColor("Down", Color.DOWNTICK); Professional access differs and subscription fees may apply. declare lower; Comment: The DMI is a price momentum indicator that is the driving force for the ADX trend indicator. addLabel(!ShowBubble,"%-value-bubbles available when above " + Ref_val + "% reference line", Color.white); calendar (not trading) days from an inputted date\n This works only on a lower plot and not for HA and EquiVolume charts., Input DaysToPlot = 20;#hint DaysToPlot: the number of calendar days to plot. The default parameters are KPeriod = 14. The solution is to pare the script down to its essence and apply some good ole brain power to the data. You now use 800 test cases to . level = 0; Supporting documentation for any claims, comparison, statistics, or other technical data will be supplied upon request. First of all, anything within brackets is optional. They are very useful and well worth the time to master them. The example used here, %HL, is a custom column study available at http://mytrade.com/StanL Of course, you will need Adding this "rainnbow road" I call it will try to assist in the discipline. Hey everyone. This is a hard-fast rule that often comes into play. 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. GetYYYYMMDD() is the most frequently used. or 15/10 = 1.5; 1.5 - 1 = 0.5; 0.5 X 100 = 50 % increase. The following formatting functions are especially useful in custom columns and labels. If you wanted to define a swing high as a bar high that is higher than the highs of the two bars just before it AND higher than the highs of the two bars just after it, the thinkscript code would look like this: Def swinghigh = if high > high[1] and high > high[2] and high > high[-1] and high > high[-2] then 1 else 0; Or if you are interested in the rise of the last 5 bars, you may use something like this: plot pivotHigh = if high == (highest(high, 5) and sum(high > high[-1], 5) == 5) then high else Double.NAN; The code for a swing low is similar. You will then be presented with the following dialog: If you have forgotten or are unsure of the symbol, you can find it easily as follows: The comparison will be overlaid on the upper panel using the left-hand price scale. Scanning for stocks that have just crossed over produces less hits that a scan that looks for a xOver within one (1) day. The code is duplicated below: SLOPE OF AN AVERAGE herein shows how to reteieve the literal of 'AverageType' choices in a label. Comment:The following code plots when a cluster exists in the above code. If run on a weekend, this is not todays date since there is no current bar for today. Questions Do Not Sell or Share My Personal Information. Its not likely that you will ever use a def value in a do statement of a fold like this. Note that every custom column has an aggregation that is set to your desires. Then I select 10-15 stacks and watch it on the second monitor. ======= DaysTillDate & GetLastDay & GetYear & GetYYYYMMDD() ========. Open a new study. Inertia. This illustrates the use of clouds using a popular analysis technique of two moving averages crossing. SD of 1, 2 or 3 are arbitrary distances-from-the-average of a normal distribution curve, that people use for easy discussion or reference. In this example, 'nice' was used. Plot data2 = If Last90Days then close else double.nan; ======= DaysFromDate & GetYyyyMmDd() & getDayOfWeek ========, ======= DaysFromDate & GetMonth & GetDayOfMonth & GetYyyyMmDd() ========, ======= GetMonth & GetDayOfMonth & GetYyyyMmDd() ========. This indicator will automatically curve-fit a polynomial regression channel. The reverse is also true when a down-sloped RED bar shows.This is the picture of the subject: Although TOS provides many powerful features, there are also other very useful resources on the Net. The distance at which the lines are plotted can be calculated using different algorithms. Ratio_vol.SetPaintingStrategy(PaintingStrategy.HISTOGRAM); Granted that not all personal preferences are the same. RefLine.SetLineWeight(2); AD.DefineColor("Up", Color.UPTICK); The green sloped bar in the watchlist column wil then be activated. The fold function is used to define the value for a named variable i.e. def highestBar = HighestAll( barNum ); Otherwise an error is produced. Conversely, if arrows are not desired at a particular location, you then will see what condition to change. When the counter gets to 5, fold stops and there is no results related to loop 5. 'Bearish'. How to Install thinkScripts and ThinkOrSwim Downloads - First Things First To install ThinkOrSwim downloads and indicators from these links, there are 2 options: either click the link and then the green button on the next page, OR simply copy the link, select "Setup" on the upper right of your ThinkOrSwim application, and select "Open shared item" Note: this action will not recalculate the whole channel, but just extend the existing lines. First, we'll start with moving linear regression in the context of a trend following system. to this work for ideas and techniques. Re the recent release & Renaming studies. //println "l2>${l2.split(/\-/).size()}