plot Data = if close > open then 1 else 0;

input Over_Bought = 70;
input Over_Sold = 30;

# ConnorsRSI taken from 
# https://groups.yahoo.com/neo/groups/TOS_thinkscript/conversations/topics/14212
input Price_RSI_Period = 3;
input Streak_RSI_Period = 2;
input Rank_Lookback = 100;

# Component 1: the RSI of closing price
def priceRSI = reference RSI("price" = close, "length" = Price_RSI_Period);

# Component 2: the RSI of the streak 
def upDay = if close > close[1] then 1 else 0;
def downDay = if close < close[1] then -1 else 0;
def upStreak = if upDay != 0 then upStreak[1] + upDay else 0;
def downStreak = if downDay != 0 then downStreak[1] + downDay else 0;
def streak = upStreak + downStreak;
def streakRSI = reference RSI("price" = streak, "length" = Streak_RSI_Period); 

# Componenet 3: The percent rank of the current return
def ROC1 = close / close[1] - 1;

def rank = fold i = 1 to Rank_Lookback + 1 with r = 0 do 
r + (GetValue(ROC1, i, Rank_Lookback) < ROC1) ;

def pctRank = (rank / Rank_Lookback) * 100 ; 

# The final ConnorsRSI calculation, combining the three components
def ConnorsRSI = (priceRSI + streakRSI + pctRank) / 3;

#Add up arrows
AddOrder(OrderType.BUY_AUTO, ConnorsRSI <= Over_Sold, tickcolor = GetColor(0), arrowcolor = GetColor(0), name = "ConnorsRSIStratLE");
#Add down arrows
AddOrder(OrderType.SELL_AUTO, ConnorsRSI >= Over_Bought, tickcolor = GetColor(1), arrowcolor = GetColor(1), name = "ConnorsRSIStratSE");

#For arrows, you want some definite value produced by a calculation in your code.
#Let's say you want an UP arrow whenever the close moves up at least 1% from the
#previous close FOR THE FIRST TIME. And you want a DOWN arrow whenever the close
#moves down at least 1% from the previous close FOR THE FIRST TIME. So the initial
#part of your code could look like this:

def runup = close >= 1.01 * close[1];
def rundown = close <= 0.99 * close[1];

#Now plot the arrows:

plot Above = runup;
Above.SetDefaultColor(Color.BLUE);
Above.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
plot Below = rundown;
Below.SetDefaultColor(Color.RED);
Below.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

#Next, IF YOU HAD DECLARED THIS AS A LOWER STUDY, then to make those arrows run in nice
#horizontal lines, add a zeroline (or you'll get annoyingly ragged rows of arrows. DO NOT
#add the zeroline to an upper study (price overlay) because it'll flatten everything on your chart,
#remedied only by right-clicking the study and USE LEFT AXIS:

plot zeroline = 0;
--------------------------------------
#Now, suppose you find that the above code seems to profit you Long only when the
#current high is higher than the previous high, and it profits you Short only when the
#current low is lower than the previous low. Time to tweak it. Before I began to better
#understand how to write if-then-else conditionals, I simply used def workarounds like
#this, to avoid if-then-else stuff:

def runup = close >= 1.01 * close[1] AND high > high[1];
def rundown = close <= 0.99 * close[1] AND low < low[1];

#The above two lines of code are the only change from the original, using the Boolean
#operator "AND" to say you want BOTH conditions met before plotting an arrow.

plot Above = runup;
Above.SetDefaultColor(Color.BLUE);
Above.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
plot Below = rundown;
Below.SetDefaultColor(Color.RED);
Below.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);