This very basic script plots a close approximation of the cycle point moving average. You enter in the required price reversal for a cycle turn, a moving average period, and it does the rest courtesy of the TOS zigZag function. I had coded this script some time ago and found nothing particularly compelling about it but decided to use it to illustrate the only new thinkScript feature I saw in the last build; namely the defineColor() command. In the past, when ever I needed to control the color of some study plot dynamically, I had to hard code in the colors in the associated assignValueColor() statement. As such, the custom coloring was only modifiable by altering the thinkScript itself. Using the new defineColor() command allows the scripter to code in value assignable colors but also allow an end user to change those colors should they desire. I expect to retrofit my earlier studies with this capability as time allows.

Break….Break….

Thanks to all for bearing with me this week. I know my response to your emails has been a bit slower than usual but I think I’ve gotten back to just about everyone at this point. It’s been a pretty busy week for myself and the family as we move back into our house after a four year absence in Annapolis. As such I haven’t really had as much time to devote to developmental stuff as I would like. I expect to be full steam ahead by early next week. 

Cycle Point Moving Average

# TS_CyclePointMovingAverage
# (c) 2009 http://www.thinkscripter.com
# thinkscripter@gmail.com
# Last Update 19 May 2009

declare fullrange;

input RequiredPointsForCycleReversal = 10;
input CycleMovingAveragePeriod = 7;

def ZZData = ZigZagSign("reversal amount" = RequiredPointsForCycleReversal);
def isHigh = if ZZData[1] < ZZData and ZZData > ZZData[-1] then 1 else 0;
def isLow = if ZZData[1] > ZZData and ZZData < ZZData[-1] then 1 else 0;
plot cyclePoint = if isHigh then high else if isLow then low else double.nan;
plot CPMA = Average(ZZData, CycleMovingAveragePeriod);

CPMA.DefineColor("Positive Slope", color.cyan);
CPMA.DefineColor("Negative Slope", color.magenta);
CPMA.AssignValueColor(if CPMA - CPMA[1] >= 0 then CPMA.color("Positive Slope") else CPMA.color("Negative Slope"));
CPMA.setLineWeight(3);

cyclePoint.SetStyle(curve.POINTS);
cyclePoint.SetDefaultColor(color.white);
cyclePoint.SetLineWeight(5);