ThinkScripter - Custom ThinkScript Indicators for thinkorswim » ThinkScripter

Trend

ThinkScripter — Mon, 28 Jun 2010 02:18:58 +0000

Here’s another indicator by very popular request. It wasn’t until TOS included the new fold function that I was able to properly implement it in thinkScript.

This is a modified Heikin-Ashi trend indicator made popular by John Carter and widely available across the internet for other platforms. First note that these are not Heikin-Ashi candlesticks themselves which are a built in option in TOS. Instead, this is the Heikin-Ashi coloring applied to regular candlesticks with a slight modification. The modification involves rejecting a change in the Heikin-Ashi trend when the bar in question is an inside bar; inside in the Heikin-Ashi sense. The user selects the period to look back for the inside bar comparison. Pictured below is the Trend indicator with blue as an uptrend and red as a downtrend. You have the option to display the rejected inside bars in a highlighted color as shown in the second image. The colors are fully user selectable using global defaults.

Trend

Trend with Inside Bars Highlighted

Renko Chart

ThinkScripter — Thu, 24 Jun 2010 12:58:52 +0000

Using the framework of the previous Three Line Break study, I was able to craft this Renko Chart. At first glance it doesn’t resemble a Renko Chart but upon careful inspection you will see the same information albeit in a different manner. The colored blocks are analogous to those of the Renko chart. Trend change is indicated when the next block begins to form in the alternate color. The user can select either a variable ATR block size or a fixed price size. The paintbars can be colored to match the Renko blocks as shown. The Renko Chart will be added to the Pro Subscriber bundle this weekend.

Renko Chart

Weekend Builds and Bug Fixes

ThinkScripter — Mon, 21 Jun 2010 02:02:42 +0000

This weekend’s TOS builds broke several studies including Fisher Transform Signals, Value Chart, and Option Volume. They have all been fixed and there is a new zip file uploaded to the forum for Pro Subscribers. The Fisher Transform Signals code has been updated and can be found here.

Some of you may have noticed that my pace of development has slowed down in the last six months. This was as a result of some major transitions in my life which are now mostly complete. I hope to return with a renewed vigor in the coming weeks. I am tossing around several ideas for expanding the Pro Subscriber benefits to include a 24/7 Adobe Connect Pro chat room, a thinkScript educational video series, and of course some new studies taken from my now exceptionally long list of requests. Please let me know your thoughts/desires!

Best of luck to all and thank you for the donations and support,
Eric

Percent Correction

ThinkScripter — Sat, 22 May 2010 12:29:25 +0000

Those who follow me on Twitter may have seen this chart pop up on occasion so I thought I’d share it with you this weekend. It simply shows how deep the current correction is in percentage terms from the high. It is designed for use on daily charts during intermediate term pullbacks. The study also has a bear mode that measures corrections up when the trend is down. To initialize the study, the user enters the start date if the current prevailing trend, select bull or bear mode, and the spacing of the percentage lines. In the picture below, I started the study at the March lows of last year and used a two percent spacing. Also pictured is my version of the Renko chart which will be released to the Pro Subscribers in a forthcoming update. Best of luck in your trading. -Eric

Percent Correction

# TS_PercentCorrection # http://www.thinkscripter.com # thinkscripter@gmail.com # Last Update 22 May 2010


# Designed for use on daily charts
input startDateYYYYMMDD = 20100101;

input mode = {default Bull, Bear};

input spacing = 1.0;
def start = if getYyyyMmDd() > startDateYYYYMMDD then 1 else 0;
rec highPrint = compoundValue(1, if start then if high > highPrint[1] then high else highPrint[1] else high , high);

rec lowPrint = compoundValue(1, if start then if low < lowPrint[1] then low else lowPrint[1] else low , low);
def onePercent = if mode == mode.Bull then highPrint * 0.01 else -lowPrint * 0.01;

def base = if mode == mode.Bull then highPrint else lowPrint;
plot hp = if start then base else double.nan;

plot p1 = if start then base - onePercent * 1 * spacing else double.nan;

plot p2 = if start then base - onePercent * 2 * spacing else double.nan;

plot p3 = if start then base - onePercent * 3 * spacing else double.nan;

plot p4 = if start then base - onePercent * 4 * spacing else double.nan;

plot p5 = if start then base - onePercent * 5 * spacing else double.nan;

plot p6 = if start then base - onePercent * 6 * spacing else double.nan;

plot p7 = if start then base - onePercent * 7 * spacing else double.nan;

plot p8 = if start then base - onePercent * 8 * spacing else double.nan;

plot p9 = if start then base - onePercent * 9 * spacing else double.nan;

plot p10 = if start then base - onePercent * 10 * spacing else double.nan;
hp.HideBubble();

p1.HideBubble();

p2.HideBubble();

p3.HideBubble();

p4.HideBubble();

p5.HideBubble();

p6.HideBubble();

p7.HideBubble();

p8.HideBubble();

p9.HideBubble();

p10.HideBubble();
AddChartBubble(yes, if IsNaN(close[-1]) then p1 else double.nan, concat("-", concat(1.0 * spacing, "%")), color.white);

AddChartBubble(yes,  if IsNaN(close[-1]) then p2 else double.nan, concat("-", concat(2.0 * spacing, "%")), color.white);

AddChartBubble(yes, if IsNaN(close[-1]) then  p3 else double.nan, concat("-", concat(3 * spacing, "%")), color.white);

AddChartBubble(yes, if IsNaN(close[-1]) then  p4 else double.nan, concat("-", concat(4 * spacing, "%")), color.white);

AddChartBubble(yes, if IsNaN(close[-1]) then  p5 else double.nan, concat("-", concat(5 * spacing, "%")), color.white);

AddChartBubble(yes, if IsNaN(close[-1]) then  p6 else double.nan, concat("-", concat(6 * spacing, "%")), color.white);

AddChartBubble(yes, if IsNaN(close[-1]) then  p7 else double.nan, concat("-", concat(7 * spacing, "%")), color.white);

AddChartBubble(yes,  if IsNaN(close[-1]) then p8 else double.nan, concat("-", concat(8 * spacing, "%")), color.white);

AddChartBubble(yes, if IsNaN(close[-1]) then  p9 else double.nan, concat("-", concat(9 * spacing, "%")), color.white);

AddChartBubble(yes,  if IsNaN(close[-1]) then p10 else double.nan, concat("-", concat(10 * spacing, "%")), color.white);

hp.HideTitle(); p1.HideTitle(); p2.HideTitle(); p3.HideTitle(); p4.HideTitle(); p5.HideTitle(); p6.HideTitle(); p7.HideTitle(); p8.HideTitle(); p9.HideTitle(); p10.HideTitle();

ThinkScripter Option Volume

ThinkScripter — Tue, 18 May 2010 04:03:41 +0000

I’ve been playing around with some of the new features in thinkScript over the past few weeks and several new studies have resulted. This one will display intraday option volume for a set of five option strikes (You have the option to display only three or one strike if you wish). The calls are stacked above the horizontal line with puts below. The format is a stacked bar type to accommodate showing all the strikes at once. The color code is referenced in the upper left. Additionally, the indicator has three other modes (single strike only) that will display total strike volume for the day, open interest, and volume as a percentage of open interest (see the second image below). The total volume and open interest modes are designed for use on daily charts but will function on the intraday charts as shown below. To initialize the study, you need to enter your desired center strike, expiration date, and the strike spacing for the underlying.

My intention was to release this to the Pro Subscribers only but it seems to me that I have been neglecting the general public as of late. As such, this one will be for mass consumption. The script is too long to post here so you will have to swing by the forum “Released ThinkScripter Studies” section (free registration required) to grab yourself a copy. Best of luck in your trading. -Eric

Option Volume

Alternate Modes

ThinkScripter - Custom ThinkScript Indicators for thinkorswim » ThinkScripter

Trend

Renko Chart

Weekend Builds and Bug Fixes

Percent Correction

ThinkScripter Option Volume

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