This will do it. [ = ] is the initial value of the 'with ' and is optional. Location: Acme. Ratio_vol.SetLineWeight(5); To comprehend a recursive statement, start with the simplest in concept. 'AccDist' has no parameters and If the renamed study is referenced therein with the old name, then that reference(old name) will be broken i.e. declare lower; Any enum item having a space should have that item enclosed within quotes whenever used. The '[then]' above means that it is optional but it is recommended that it always be used for clarity. Application will automatically adjust the slope of the lines based on linear regression. Another method has been used that plots a value and assigns an arrow to it with 'SetPaintingStrategy'. 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. Trading stocks, options, futures and forex involves speculation, and the risk of loss can be substantial. Offset Regression Bands Indicator and Strategy for ThinkorSwim, MA VWAP MACD Volume Pressure Day Trading Setup For ThinkOrSwim, Camarilla Pivot Points Day Trading System For ThinkOrSwim, /ZF or /ZN 20min Trading Setup For ThinkOrSwim, https://usethinkscript.com/threads/repainting-trend-reversal-for-thinkorswim.183/, https://usethinkscript.com/threads/buy-the-dip-indicator-for-thinkorswim.3553/, https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/, Long Entry: The Linear Regression Curve is rising AND the close of the previous bar is above the Linear Regression Curve, Long Exit: The close of the previous bar is less than the Linear Regression Curve, Short Entry: The Linear Regression Curve is falling AND the close of the previous bar is below the Linear Regression Curve, Short Exit: The close of the previous bar is greater than the Linear Regression Curve. If each item in the enums list i.e. This is where study highlighting can come in handy for finding the right place and time to double-click. USAGE Following the indicator is simple enough. Learn all about VIP membership, To access the premium indicators, which are plug and play ready, sign up for VIP membership, Member forums to discuss indicators, scripts, thinkScript programming, and all things thinkorswim, Private content available for subscribers only. I am afraid doing the entire calculation in thinkscript will have a heavy performance toll, especially if it is part of a scan over thousands of stocks. In addition to that, a neat trick is, while in the code editor, drag the editor window down so that you can see the charts label and header values. declare lower; input length = 30;#hint length:the number of trading days-ago for the change Refer to PastOffset discussed at [Click to read about it. onceperchartup.setDefaultColor(color.light_green); work because the internal logic of the function performs the action of looking back. Naturally the aggregation is set to what you want to count like days, hours, 15 min bars, etc. Arrow.SetDefaultColor(Color.White); Examples will help explain: Using the '' symbol . Each bar on a plot represents a period of time known as the primary aggregation: one minute, five minutes, day, etc. Defines whether to always show the label at the specified position, or on mouse hover only, or to hide it completely. Note the importance of the index starting with 0. Defines the color of the label box. Although surface tension follows a linear. See the picture below. color.CYAN or color.LIGHT_RED. 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. Perhaps you can do that with the title of the custom column. You take your basic code studythe one that plotted the arrows, and change the 'plot' statements to 'def' statements. TOS & Thinkscript Collection - Jim Shingler Blog Traders of . In words value1 is 224% of value2. You may need to learn other ways of specifying aggregation to read other peoples code such as in the built-in DailySMA. However, there are unintended consequences as shown below in this 'edit studies' screen. 2023-04-21 / channel_cylinder-z-MOL - ccse.lbl.gov def crossingup = price crosses above avg; That is, that a data distribution with a 1 standard deviation (SD) contains 68% of all data. AddChartBubble(Isnan(Close[-1]) && ShowBubbles, MovAvg200, (MA2_length + "-Day MA"), Color.DARK_ORANGE); addLabel(1,"Mov Avg input price choice = " + (if price == close then "close" AddLabel is an excellent tool to observe a value for debugging purposes. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets. If it complies, 1 is plotted if not 0 is plotted. Here the MACD average is going up while the MACD itself is going down for the number of 'Bars'. For a better experience, please enable JavaScript in your browser before proceeding. The above formula scan will give you values between 1 to -1. plot d = Doji();# If a Doji is present Doji() is true.The below lines format what to show at that location. === T-HOW TO DECIPHER COMPLEX STUDY PLOTS. With the Polynomial Regression Channel, you have the upper band, the lower band, and the neutral band. The benefit of doing this is that the builtin and your modified copy stay adjacent in the list and it helps you to keep track of what you may have done two months ago. What Is The Polynomial Regression Channel & How To Trade With It This is a price correlation scan compared to the SPX with a correlation of 0.95 to 1.0 for the last 50 bars. To reset the chart to the original first bars close, right click on the zero percent level line and choose 'Reset to default 0% level'. else' format. There are three ways to do this. When doing a lot of coding, using the mouse provides fast traveling to various locations in the code. You may find any color at. The upper and lower channel lines, parallel to the centerline (the true linear regression)., indicate the furthest that the data has been from the middle line The '100' in the title means that it shows the upper and lower lines at 100% of the data difference from the centerline . Each enum value has a case ???? So when/why would you include this. Note the closing else that relates to the very first 'if..then'. They are too big to include here but may be downloaded from http://mytrade.com/StanL There are many examples of coding procedures within those files. Senior Marketing Science Analyst, Implementation The third parameter, int max offset,is a fail stop value to prevent an endless loop in the scripting engine. scan.SetpaintingStrategy(paintingStrategy.BOOLEAN_ARROW_UP); Arrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP); VolAvg.SetDefaultColor(GetColor(8)); Comment: The AddChartBubble has coding worth studying. Regarding this part of your post with the results, did you write a script to generate that? That is literally just a copy and paste job on the linear regression channel that comes free in TOS anyway, at multiples of 0.375. My Motivations: I found the pdf hard to read at times and I want the great work By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. It likely is 'day' but doesnt have to be. Comment:HV and IV do not plot on intraday. Note: this action will not recalculate the whole channel, but just extend the existing lines. The code below allows you to show the oil futures (/CL) below for comparison. be call an 'Almanac'. 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. TOS has also assigned names to 23 colors per the following: Reference: [See all color constants](https://www.thinkorswim.com/tos/thinkScriptHelp.jsp?laf=dark#constants). Plot ZeroLine = 0; AddLabel(1,"Shown is the %-change-of-the-first-bar-value of " + close1,color.white); #Puts any of the 11 price choices into a literal text in a label like ohlc4 = 75. "Span B"). This nested-if reads as: If close is greater than the open then plot the close. The following code will plot the close for 90 days. declare lower; addLabel(1,"Yellow line = " + Ref_val + "% reference line" , Color.yellow); A 'setup' is a term/title applied to a group of charts and indicators that are used to implement a trading strategy. This provides a ready place to go to to get the code words to paste. In this example, 'nice' was used. This includes converting ThinkScript variable-values into text. ' Regression channel consists of two parallel lines plotted equidistantly above and below the Regression Line. Alternate 1: A scan that looks for stocks touching the 200-day MA. They are: (1) Bearish candle plots.txt; and (2) Bullish candle plots.txt. The concept is to define each of your conditions in the format of '1 when true' and '0 when false'. case AMEX: 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. ADX(). This illustrates the use of clouds using a popular analysis technique of two moving averages crossing. else if price == open_interest then "Open_interest is not a valid choice" The secondary aggregation period cannot be less than the primary aggregation period defined by chart settings. 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. If-statements may be nested without limits. if SlowK > SlowD then color.green else if SlowK < SlowD then color.red else color.gray. Another example is 'do nice + getValue(close, n, length - 1)) / length'(a simple moving average) which gets a close value; divides it by a length variable; and adds it to the internal variable, nice. Comment: The effectiveness of this system has not been verified. You change the condition-def statements to plot statements. Vol.SetPaintingStrategy(PaintingStrategy.HISTOGRAM); thinkScript code indicators for use with ThinkorSwim platform. Any suggestion for improvement or inclusion are welcome. Once again, you must preserve the parameters position rule. Click the symbol and this menu will appear: This function goes and gets data used in the do . Comment: This is an excellent example of a simple recursive that counts, Comment1: Pre-market scan and chart may be had by changing 'End' to 'Begin' in the above code, Comment2: To display pre and post- market chart displays, click the wrench to open 'Chart Settings' and then go to 'equities' and check 'Show Extended Session'. ThinkScripts linear regression function is titled 'Inertia'. level = 0; So is there something built in? There are three forms of if statements. Its not likely that you will ever use a def value in a do statement of a fold like this. You like trading. I like making it easier. Set agg = day. may be any TOS features worth knowing. Long series of 'if conditions' also can create the 'too complex error'. Start a new thread and receive assistance from our community. Comment1: Re all crossover scans, refer to "Referencing other studies" for a complete explanation of the applicable rules for specifying parameters. else if price == open then "The price-variable selected is open = " + Round(open,2) else ""), color.white); #Comment: Each 'ifthenelse' statement should be within parentheses to insure printing. The end-time markers may seem redundant and they are if you do not 'Show Extended Session' or 'Expansion Area' for stocks. This one doesnt care if the close is above the 200-day MA as long as EITHER the close is above the 200-day MA OR the 200-day MA is bracketed. else if price == hlc3 then "hlc3" Here is how its done. The SUM function has some versatile usage as illustrated in the coding examples below. Also, this is a simple clear example of how the 'switch; function operates. The tags listed under 'TAGS and their PURPOSE:' may be used to format the ????????. As initially said, it could be superfluous lines in your code retained when converting a study into a custom column. Be sure to set the time aggregation you desired i.e. The wizard is auto accessible when coding new studies. 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" The tags listed under 'TAGS and their PURPOSE:' may be used to format the desired text. So if 'isnan(close)' is true i.e. The default parameters are price = close, length = 15. Plot scan = high > average(close,200) && low < average(close,200), Alternate 2: Price crosses the 200-day MA. #VolPct.SetLineWeight(1); Lower.HideTitle(); plot CurrentPrice = ((price / Lowest_Low) - 1) * 100; AddCloud(HH_LL_Pct, CurrentPrice, Color.GREEN); Comment 1: The stochastics indicator can be confusing because it is referred to as: 1. addlabel(yes,"Vol as % of " + VolAvgLength + " agg-bar avg volume = " + aspercent(Round(data,2)),if data < 0 then color.RED else color.GREEN); #hint: Plots: 1. Here the previous value is recalled so 1 can be added to it to form the new value of x. The numerous 'getAggregationPeriod() ==' lines are to define such a factor. useThinkScript - YouTube Forex trading involves leverage, carries a high level of risk and is not suitable for all investors. There are no limits to the number of conditional statements but they follow the format if..then.else if..then..else if..then..else. All scripts are run in real-time and the script processor only runs one iteration of the script.