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Poor High / Poor Low thinkscript?


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Poor High / Poor Low thinkscript?

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  #1 (permalink)
mrmitch
San Francisco+CA
 
 
Posts: 4 since Jan 2019
Thanks: 0 given, 3 received

Hi All!

I can't believe this is so hard to find, but I'm looking for a thinkscript that will show me poor highs and lows when they occur in the current session, either RTH or Overnight. Anybody have something that does this?

FYI, poor high being defined as a high that is not at least 2 ticks higher than the previous high on 30 minute candles. Poor low is the converse.

Anybody got something on this?

I'm tired of banging my head against the wall.

THANK YOU!

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  #2 (permalink)
VanDriver
Jackson, MS
 
 
Posts: 34 since Dec 2015
Thanks: 1 given, 5 received

This would be an advanced thinkscript which is why youíre not easily finding it. Youíre dealing with defining the high/low, time aggregate, and then price within a variable of those two. It can be done but itís many lines of script. I suggest you ask one the folks in the thinkscript lounge on the TOS platform.

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  #3 (permalink)
 JayC 
San Diego, CA
 
Experience: Beginner
Platform: TOS, Sierra
Trading: Emini ES, Crude CL
 
Posts: 55 since Mar 2019
Thanks: 9 given, 43 received


I've taken a shot at a poor high low script, based on your description and my basic understanding of the concept. I created a plus/minus band around the daily high and lows and kept count each time it tagged it on the day. Poor low/highs are marked for any point where the counts are greater than 1, and reset at the specified time. I've set the reset time to 6pm est. Drop this study onto a 30min chart.

NOTE: This is obviously a work in progress, so do your own testing and use caution.

V1
https://tos.mx/5FC1LRG

V2 - small adjustment made to the bands, since the upper/lower offsets were unnecessary.
https://tos.mx/60PGlU0


JayC

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  #4 (permalink)
mrmitch
San Francisco+CA
 
 
Posts: 4 since Jan 2019
Thanks: 0 given, 3 received

At first glance, this is perfect!

I'll play for a while and update here.

THANK YOU!

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  #5 (permalink)
mrmitch
San Francisco+CA
 
 
Posts: 4 since Jan 2019
Thanks: 0 given, 3 received

So here's a funny ... I'm trying to build a poor high/low script in Sierra Chart and struggling with it. So I have this great idea - I'll look for a TOS script and translate it. So I search google and find this thread. Then I see that I started this thread and received a response. Thank you Jay! And then to my thorough embarrassment, I realize that I promised to come back with a review the the work that Jay did. And I failed to do so. From three years ago! Nice manners there, MrMitch.

I modified it to my needs - here is the updated version.

I should make note that this doesn't actually the work the way I'd expect and thus I've not been using it. But I wanted to extend thanks all the same.


input bandTicks = 2;
input drawStartLine = Yes;

def dailyHigh = high(period = "DAY");
def dailyLow = low(period = "DAY");

input Start_Time = 0630;
def StartTime = SecondsFromTime(Start_Time) == 0;

AddVerticalLine(StartTime,"Start_Time = " + Start_Time, Color.GREEN, Curve.SHORT_DASH);



def bandOffset = TickSize() * bandTicks;

plot highUpperBand = dailyHigh;
plot highLowerBand = dailyHigh - bandOffset;
highUpperBand.setDefaultColor(Color.UPTICK);
highLowerBand.setDefaultColor(Color.UPTICK);

plot lowUpperBand = dailyLow + bandOffset;
plot lowLowerBand = dailyLow;
lowUpperBand.setDefaultColor(Color.DOWNTICK);
lowLowerBand.setDefaultColor(Color.DOWNTICK);

def insideHighBand = high >= highLowerBand && high <= highUpperBand;
def insideLowBand = low >= lowLowerBand && low <= lowUpperBand;

def highCount = if StartTime then 0 else if insideHighBand then highCount[1] + 1 else highCount[1];
AddChartBubble(insideHighBand && highCount > 1, high, "Poor High at : " +highUpperBand, Color.YELLOW, yes);

def lowCount = if StartTime then 0 else if insideLowBand then lowCount[1] + 1 else lowCount[1];
AddChartBubble(insideLowBand && lowCount > 1, low, "Poor Low at : " + lowLowerBand, Color.YELLOW, No);

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