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Looking for Fisher/SOAP Scan
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Looking for Fisher/SOAP Scan

  #1 (permalink)
Creedmoor
 
Trading Experience: Beginner
Platform: ThinkorSwim
Broker/Data: TDA ThinkorSwim
Favorite Futures: Stock
 
ncdsquare's Avatar
 
Posts: 5 since Oct 2018
Thanks: 1 given, 0 received

Looking for Fisher/SOAP Scan

Though I've been trading on and off for the last year, I'm still a relative novice to TOS tools and features (I feel that way anyway - there's a lot to use and learn). I'm also a relative novice to day trading, though I've taken course, developed a plan and have a mentor who gives me tips and coaching as a navigate the difficult waters of DT.

I'm day trading using ToS and make entry/exit decisions based on three indicators:
  1. 3 SMA (4, 9, 18)
  2. FW_FisherTransformer
  3. FW_SOAP

I find myself missing DT candidates in my watchlist because I don't have a scan that notifies me when stocks in my watchlist is setting up for entry/exit (or is ready for entry/exit). I'm going through it manually & am still developing the discipline to go them all before deciding on entry. I've missed many an entry or extra profit by not having a scan to run that gives me all that fit so I can review quickly before entry. I'd like to borrow or buy a scan that does this.

I'm a tech head by profession but haven't had the time to learn Thinkscript in detail. I've searched the Thinkscript reserved words and library to understand how to use the FW_FisherTransfomer in a scan. I also found some code that I've added for a custom scalper using Fisher. It's pasted below. I love this piece of code and have used it for a few months. From it, I've concluded that "fish" is a reserved word but I can't find it any where.

Can some one point me in the right direction on how to use Fisher and SOAP as a study for a DT scan? Thanks for any direction or advice (and thanks Lawyer Trader for sharing the code for the scalper. It's done me well since I found it on your blog site).

#The Fisher Scalper Color Bars, courtesy of The Lawyer Trader. Based on the fisher #transform, this indicator is pretty easy to comprehend. #The bars are colored Green (bullish), White (transition #from bull to bear), Red (bearish), Violet (bearish #transitioning to bullish)

declare lower;

input price = hl2;
input length = 10;

def maxHigh = Highest(price, length);
def minLow = Lowest(price, length);
def range = maxHigh - minLow;
rec value = if IsNaN(price)
then Double.NaN
else if IsNaN(range)
then value[1]
else if range == 0
then 0
else 0.66 * ((price - minLow) / range - 0.5) + 0.67 * value[1];
def truncValue = if value > 0.99 then 0.999 else if value < -0.99 then -0.999 else value;
rec fish = 0.5 * (log((1 + truncValue) / (1 - truncValue)) + fish[1]);

plot FTOneBarBack = fish[1];
plot FT = fish;
plot ZeroLine = 0;

input emalength = 50;

plot ema2 = expAverage(fish, emalength);

FTOneBarBack.SetDefaultColor(GetColor(1));
FT.SetDefaultColor(GetColor(8));
ZeroLine.SetDefaultColor(GetColor(5));

def bullish = if ft > ema2 then 1 else 0;
def bearish = if ft < ema2 then 1 else 0;

assignpriceColor(if ft>ftonebarback and bullish then color.green else if ft>ftoneBarBack and bearish then color.violet else if ft<ftoneBarBack and bearish then color.red else if ft<ftOneBarBack and bullish then color.white else color.gray);

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  #2 (permalink)
NY, NY
 
Trading Experience: Intermediate
Platform: TOS
Favorite Futures: Stocks, ETFs
 
Posts: 63 since Dec 2011
Thanks: 24 given, 15 received

Hi,

Review this:
 
Code
# Commented out - unnecessary
#declare lower;

#Changed inputs to defs
def price = hl2;
def length = 10;

def maxHigh = Highest(price, length);
def minLow = Lowest(price, length);
def range = maxHigh - minLow;
rec value = if IsNaN(price)
            then Double.NaN
            else if IsNaN(range)
                 then value[1]
                 else if range == 0
                      then 0
                      else 0.66 * ((price - minLow) / range - 0.5) + 0.67 * value[1];
def truncValue = if value > 0.99 then 0.999 else if value < -0.99 then -0.999 else value;
rec fish = 0.5 * (log((1 + truncValue) / (1 - truncValue)) + fish[1]);

# Changed plots to defs
def FTOneBarBack = fish[1];
def FT = fish;

# Commented out - unnecessary
# plot ZeroLine = 0;

# Changed input to def
def emalength = 50;

def ema2 = expAverage(fish, emalength);

# Commented out - unnecessary
# FTOneBarBack.SetDefaultColor(GetColor(1));
# FT.SetDefaultColor(GetColor(8));
# ZeroLine.SetDefaultColor(GetColor(5));

# Changed defs to plots - only one plot at a time
# This will find Bullish candidates
# Switch # to find Bearish candidates
plot bullish = if ft > ema2 then 1 else 0;
#plot bearish = if ft < ema2 then 1 else 0;

# Commented out - unnecessary
# assignpriceColor(if ft>ftonebarback and bullish then color.green else if ft>ftoneBarBack and bearish then color.violet else if ft<ftoneBarBack and bearish then color.red else if ft<ftOneBarBack and bullish then color.white else color.gray);


Try this:
 
Code
def price = hl2;
def length = 10;

def maxHigh = Highest(price, length);
def minLow = Lowest(price, length);
def range = maxHigh - minLow;
rec value = if IsNaN(price)
            then Double.NaN
            else if IsNaN(range)
                 then value[1]
                 else if range == 0
                      then 0
                      else 0.66 * ((price - minLow) / range - 0.5) + 0.67 * value[1];
def truncValue = if value > 0.99 then 0.999 else if value < -0.99 then -0.999 else value;
rec fish = 0.5 * (log((1 + truncValue) / (1 - truncValue)) + fish[1]);

def FTOneBarBack = fish[1];
def FT = fish;

def emalength = 50;

def ema2 = expAverage(fish, emalength);

plot bullish = if ft > ema2 then 1 else 0;
#plot bearish = if ft < ema2 then 1 else 0;

Hope this helps...

Good Luck and Good Trading


Last edited by netarchitech; April 18th, 2019 at 05:05 PM.
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  #3 (permalink)
Creedmoor
 
Trading Experience: Beginner
Platform: ThinkorSwim
Broker/Data: TDA ThinkorSwim
Favorite Futures: Stock
 
ncdsquare's Avatar
 
Posts: 5 since Oct 2018
Thanks: 1 given, 0 received

Thanks


I've reviewed the code changes you've made, and am adding it to TOS now.

I'll let you know how I works - thanks!!!

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