Polarized TRIN Oscillator

ThinkScripter — Thu, 26 Mar 2009 23:44:14 +0000

I’ve been messing with the TRIN as of late and crafted this polarized oscillator using the average value of the TRIN and TRINQ. The oscillator has been inverted so that a rising oscillator line is indicative of rising prices vice the way the actual TRIN works. I’d have to classify this one as experimental so feel free to hack away and post your modified version in the comments. I’ll be creating a user submissions page over the weekend and look forward to posting some of your best scripts!


declare lower;
input length = 9;

input EMA_period = 5;
def trin = close("$TRIN");

def trinq = close("$TRIN/Q");
def aveTrin = (trin+trinq)/2;
def fractal = sqrt(power(aveTrin-aveTrin[length],2)+100);

def incremental = sqrt(power(aveTrin-aveTrin[1],2)+1);

def sum = sum(incremental,length);
def resultant = if aveTrin-aveTrin[length] > 0 then round100((fractal/sum)*100) else round100(-(fractal/sum)*100);
def polarizedTrin = if resultant == 0 then 1 else resultant;

plot PTO = expAverage(-polarizedTrin, EMA_period);

PTO.setDefaultColor(color.yellow);

plot zeroline = 0.0; zeroline.setDefaultColor(color.white); plot plusLine =75; plusLine.setDefaultColor(color.cyan); plot minusLine = -75; minusLine.setDefaultColor(color.cyan);

TICK + TRIN Indicator

ThinkScripter — Mon, 23 Feb 2009 02:34:39 +0000

I’ve taken the original TICK indicator and gone a few steps further. The plot more closely resembles a bar chart now and the bars are colored based on three options. First you can color the bars based on the slope of the nine period EMA of the TICK. Second you may color the bars based on whether that same nine period EMA is above or below the zero line as pictured below. Lastly, you can color any bars where the range of the TICK readings is greater than an input threshold. These bars are magenta and they provide an extreme volatility warning of sorts. Note that if you use this on a larger timeframe, you’ll probably want this option off. As before, extreme TICK readings are flagged with a yellow triangle also based on user-defined threshold values. The highest high TICK and lowest low TICK are indicated by the dashed lines in the extreme region. Lastly, the centerline of the indicator changes color based on the trend of the TRIN indicator. There are two methodologies for detecting the trend to choose from.

As with any study, you can turn on and off the parts of the indicator you would like to see in the control panel.

TICK + TRIN

ThinkScripter - Custom ThinkScript Indicators for thinkorswim » TRIN

Polarized TRIN Oscillator

TICK + TRIN Indicator