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MID price indicator for TOS
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MID price indicator for TOS

  #11 (permalink)
Dallas, Texas
Posts: 43 since Jun 2015
Thanks: 2 given, 24 received

Shortline View Post
The logic of the script combined with ToS methodology is causing the recursive function to start one bar later than intended.

If you set the following two inputs to 1 bar prior to what you actually want the script will work accurately:


For example, if you are using a 5 minute intraday chart, if you set the above tow parameters to 0925 the values will be correct.

Unfortunately, if you change timeframes without adjusting these parameters it the midline will be inaccurate again.

I'm sure there is some logic that could be built into the script but I did not take the time to investigate that, sorry.

Additional Note: I just realized that if the chart is not showing the extended trading hours session the above hack does not work. Back to the drawing board.

For everyone following this thread, I figured out a more "elegant" way to do this, which is now correct.
This will reset daily, regardless of timeframe (as long as the timeframe is lower than the midpoint you're tracking), as well as provides Daily, Weekly, and Monthly midpoints, as desired.

Lastly, this gives you the option to see the High and Low it's using or hide it, as needed, and rounds the Mid Point to the nearest tick value.

Here's what it looks like (showing the high and low, which you can hide):

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Here's the code:
## Provided by @The_Dude_Trader on Stocktwits / Twitter##
## For personal use only##
## Come see more at @DTWCoachandDude on Stocktwits / Twitter / Facebook ##
## https://www.secretsociety7.com ##

input timeFrame = {default DAY, WEEK, MONTH} ;
input ShowHiLo = no ;

def cap = GetAggregationPeriod() ;
def errorInAggregation =
timeFrame == timeFrame.DAY and cap >= AggregationPeriod.WEEK or
timeFrame == timeFrame.WEEK and cap >= AggregationPeriod.MONTH ;
Assert(!errorInAggregation, "timeFrame should be not less than current chart aggregation period") ;

def yyyyMmDd = GetYYYYMMDD() ;
def periodIndx;
switch (timeFrame) {
case DAY:
periodIndx = yyyyMmDd ;
case WEEK:
periodIndx = Floor((DaysFromDate(First(yyyyMmDd)) + GetDayOfWeek(First(yyyyMmDd))) / 7) ;
case MONTH:
periodIndx = RoundDown(yyyyMmDd / 100, 0) ;
def isPeriodRolled = CompoundValue(1, periodIndx != periodIndx[1], yes) ;

def HI ;
def LO ;

if (isPeriodRolled) {
HI = high ;
LO = low ;
} else {
HI = if high > HI[1] then high else HI[1] ;
LO = if low < LO[1] then low else LO[1] ;

def NA = double.NaN ;

plot TheHI = if ShowHiLo then HI else NA ;
plot TheLO = if ShowHiLo then LO else NA ;
plot TheMid = round(((HI + LO) / 2) / ticksize(), 0) * ticksize();

TheHI.setdefaultColor(color.green) ;
TheLO.setdefaultColor(color.red) ;
TheMid.setdefaultColor(color.yellow) ;
TheMid.setlineweight(2) ;

Last edited by devildriver6; March 21st, 2018 at 12:31 PM.
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The following 5 users say Thank You to devildriver6 for this post:
  #12 (permalink)
Lake Stevens, WA
Trading Experience: Intermediate
Platform: NinjaTrader, TOS, IB exec
Broker/Data: Interactive Brokers
Favorite Futures: ES CL
Shortline's Avatar
Posts: 46 since Aug 2016
Thanks: 38 given, 43 received

devildriver6 View Post
For everyone following this thread, I figured out a more "elegant" way to do this, which is now correct.

Nice update! It is very elegant.

I like it. Thanks for sharing.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
  #13 (permalink)
New Orleans, Louisiana
Trading Experience: Beginner
Platform: ThinkOrSwim
Favorite Futures: Emini
Posts: 1 since Apr 2017
Thanks: 1 given, 0 received

devildriver6 View Post
For everyone following this thread, I figured out a more "elegant" way to do this, which is now correct.

The devil's in the details, as you already know, devildriver6. This indicator is quite elegant, and I love it, man. I have been looking for this for quite a while. You are da' man! Thank you very much!

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  #14 (permalink)
Kingston, New York USA
Posts: 1 since Jun 2019
Thanks: 0 given, 0 received

A Thousand Thanks! ...

You have made my dream come true ... I'd been searching for a means of creating a mid-point indicator for my TOS intraday futures charts and some midnight cyber-surfing landed me here at Futures IO and your kind contribution to traders unable to craft Think Script ... Kind folks like you make the internet a wonder-filled playground ... Thanks again, George J Nicholson

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  #15 (permalink)
los angeles + ca/usa
Posts: 1 since May 2017
Thanks: 0 given, 0 received

Thanks for the script

I had a simple version and this one really fits the bill. I struggled creating it on my own til I finally found my senses and found this one. Thanks devil

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