A distance of +/- 3 SD from the average will include 99.7% of the 100 datapoints(0.997 X 100 = 99.7). This icon will now show on the chart in lieu of the cursor. You change the condition-def statements to plot statements. else if price == hlc3 then "hlc3" For anchoring a regression line to some event such as a fractal pivot many find it easier to use the mathematical approach rather than the TS function. JavaScript is disabled. Set agg = day. Studies may be used within a fold. A very common way of specifying the secondary aggregation is: def Agg = AggregationPeriod.FIFTEEN_MIN;# Use the desired constant to specify the time advances = close("$ADVA"); 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). - Reference the vwap study like .plot MyVWAP1 = reference VWAP; "Positive to Negative").signal; MoneyFlowIndexCrossover: Scans for the Money Flow Index crossing the specified level. else ""), color.white); #Comment: Each 'ifthenelse' statement should be within parentheses to insure printing. 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" Fold will normally work in a scan and custom columns. If there is no bar on a chart, like in pre and after-market hours or weekends and holidays, then results, including label values, from the date/time functions are not reliable. Two very popular expressiona for IDataHolder dynamic offset are LookUpHighest(price,'look up price',length) and LookUpLowest(price,'look up price',length). scan.SetpaintingStrategy(paintingStrategy.BOOLEAN_ARROW_up); The concept is to define each of your conditions in the format of '1 when true' and '0 when false'. In the above 'Scan/StockHacker' tab, all fundamental filters have been deleted using 'red-circled-X'. #Below items not needed for a scan # Naturally any valid condition may be substituted for the one shown. This will create an error. The above reads as abased on the close, simple average1 of length = 15 crosses above exponential average2 of length = 30.'. The Standard Deviation (SD) is used frequently in TOS studies and its concept needs understanding.If you have 100 random datapoints, they combine to have an average (a single value). 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. A arrow when the volume exceeds the inputted average with an info label. So within that context, certain functions make no sense, like barNumber(), HighestAll() to name a few, also rec variables. Senior Marketing Science Analyst, Implementation When the counter gets to 5, fold stops and there is no results related to loop 5. Heres an interesting concept/tip that you may find very useful and its not obvious. Uses the data of the entire chart. At times coloring may also be used to do the same. An example is: def SlowK = StochasticSlow( 80, 20, 10, 10, high, low, close, "SMA" ).SlowK; Note that you cannot omit any intermediate values or modify their positions. 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. else if price == ohlc4 then "ohlc4" Such rules may be simple or complex but, regardless, are not easy to remember. input MA1_length = 50;#hint MA1_length:Input a MA1 length d.setDefaultColor(Color.White); #hint:Uses the VolumeAvg study and adds a label showing volume as the percent of the average daily volume. Also configure the chart to synchronize the cursor across all grid charts via Chart settings/general tab/Synchronize crosshair position. If that trendline holds it will CIT stock to bounce from here but if it breaks that will be a mjor reversal to downside . It is similar to the Market Forecast. Even the label coding is neat. In words, the change difference (NOW minus the B4) divided by the original (B4) value times 100. advances = close("$ADVN/Q"); Then plot each condition. Concat is a term that means to connect two text phrases together. 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. The syntax is: ChartPlotName.TakeValueColor(). Solution: Heres a study for you. Trading foreign exchange on margin carries a high level of risk, as well as its own unique risk factors. The solution is to pare the script down to its essence and apply some good ole brain power to the data. Comment: Clouds create nice looking charts. Example: If your answer was not 7, rethink it. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. For example, if you want to count the number of days that have risen 1%, you would substitute the term 'close > open' with '(close/close[1] > 1.01) '. Usage: 'input data = close' is substituted by any indicator and its parameters. else if price == high then "high" For value1 = 85 and value2 = 38 then: 85 /38 = 2.24; 2.24 X 100 = 224%. case "Absolute Breadth Index": process and I will continue to work on the formatting and clean up. else if price == high then "high" A powerful signal is present when both speeds are simultaneously below OS or above OB. Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. When it turns green you are in the safe zone. Departments | Charter Township of Commerce, MI Vol.SetLineWeight(3); Also this form can be used with else to create more complex conditions. Compare the two. declare lower; Stocks do not have a perfect efficiency reading of 1. ADXCrossover: Scan for the ADX (bullish or bearish) crossing a specified level (threshold). Hence, this section will be as thorough as possible with many examples to illustrate their usage. If the difference (B4 - NOW) is negative the percent is also negative i.e. 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. The defaults parameters are price = close, length1 = 15, length2 = 30. Clients must consider all relevant risk factors, including their own personal financial situation, before trading. It is an overbought oversold indicator that I use on just about everything. After the above global definition, GlobalColor("Purple") can be use wherever a color is needed. I saw a few examples where people calculate it themselves, which indicates there is no built in regression. select 'pointer' to re-establish it. However, user-defined studies may be referenced in scans. That is, that a data distribution with a 1 standard deviation (SD) contains 68% of all data. The user may select any polynomial factor between 1 (a straight line) and 6. At times you want to compare the charts DMI with another symbol. input pct = 25.0;#hint pct:Plots an arrow when volume exceeds the average by this percent Comment1: Re all crossover scans, refer to "Referencing other studies" for a complete explanation of the applicable rules for specifying parameters. The fastest way to edit a study is to double click on the plot on the chart. Usage example: You may have a stock plotted on the upper panel:Say an oil company, CVX. This free tool will help you to get the RGB values for any color you desire to compose. Counting is often used. MACD and is included here for that reason. They are: (1) Bearish candle plots.txt; and (2) Bullish candle plots.txt. 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 . Mobile compatible. Comment: The 200-day and 50-day are popular moving averages used to determine bullish or bearish movement. For example, you may want this to show based on 2 weeks in lieu of 3 weeks. 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" case NYSE: def Bar1 = If (day[1] != day, day - 1, 0); Ratio_vol.AssignValueColor(if Ratio_vol >= Ref_val then Color.green else if Ratio_vol < Ref_val and Ratio_vol > 0 then. Defines which of the extra lines should be visible. "DI+"; #MomentumCrossover: Scans for the Momentum crosses the zero line. def count = if crossingdown or crossingup then barnumber else 0; plot onceperchartup = if MostRecentOnly and crossingUP and count == highestall(count) then low else double.nan; plot onceperchartdown = if MostRecentOnly and crossingdown and count == highestall(count) then high else double.nan; onceperchartdown.setPaintingStrategy(paintingStrategy.BOOLEAN_ARROW_down); This can be a 'yes' or 'no', or any condition statement or a reference to: (1) a previously defined condition statement; or (2) an input true/false value. Defines whether to always show the label at the specified position, or on mouse hover only, or to hide it completely. Comment: The DMI is a price momentum indicator that is the driving force for the ADX trend indicator. scan.SetDefaultColor(Color.White); #Hint:Scan/plot for a increase or decrease % of an inputted Parameter and average-length The fold function is used to define the value for a named variable i.e. This is very handy when referring to an input whose value choices are 'yes' or 'no'. declare lower; then. define a recursive variable. It is duplicated here because it demonstrates so well the selection def HighestHigh = If(price > HighestHigh[1] and MktIsOpen, price, If(MktIsOpen and !Bar1, HighestHigh[1], price)); Below is the picture of the StockHacker composition. This value is the number of milliseconds since the epoch (January 1, 1970, 00:00:00 GMT).
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