My newest and best indicator EVER - futures io
futures io futures trading



My newest and best indicator EVER


Discussion in ThinkOrSwim

Updated by alagrande
      Top Posters
    1. looks_one alagrande with 13 posts (1 thanks)
    2. looks_two tracer888 with 4 posts (3 thanks)
    3. looks_3 Big Mike with 1 posts (6 thanks)
    4. looks_4 loantelligence with 1 posts (1 thanks)
      Best Posters
    1. looks_one Big Mike with 6.0 thanks per post
    2. looks_two tigertrader with 5.0 thanks per post
    3. looks_3 CryptoBuffalo with 2.0 thanks per post
    4. looks_4 tracer888 with 0.8 thanks per post
    1. trending_up 1,292 views
    2. thumb_up 19 thanks given
    3. group 8 followers
    1. forum 22 replies
    2. attach_file 8 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Thread Tools Search this Thread
 

My newest and best indicator EVER

  #1 (permalink)
glendale ca usa
 
 
Posts: 82 since Sep 2017
Thanks: 11 given, 64 received

its called UGLY DUCK
and it consist of 4 RSI lines plus THE BLUE WAVE a script by Lazy Bear.
I am working on different versions. so far the best results are with the clouds version.
I have added coloured blocks to indicate bear or bull conditions depending on the position and combination of each RSI frequencies.
I will be sharing the codes for the diff versions with exception of the final code which i will share it with only one lucky member choose at random.

its a HISTOGRAM NOW
below is the code....

#HISTOGRAM
declare lower;
input Channel_Length = 10; #10
input Average_Length = 20; #20, 11
input over_bought_1 = 60;
input over_bought_2 = 53;
input over_sold_1 = -60;
input over_sold_2 = -53;
input show_bubbles = yes;
input show_sec_bbls = no;
input show_alerts = yes;
def ap = hlc3;
def esa = ExpAverage(ap, Channel_Length);
def d = ExpAverage(AbsValue(ap - esa), Channel_Length);
def ci = (ap - esa) / (0.015 * d);
def tci = ExpAverage(ci, Average_Length);
def wt1 = tci;
def wt2 = SimpleMovingAvg(wt1, 2);

#plot zerobase =0;
#zerobase.setLineWeight(2);
#zerobase.setDefaultColor(color.white);
plot wt3 = (wt1 - wt2);
wt3.SetLineWeight(2);
wt3.SetDefaultColor(Color.YELLOW);
wt3.setStyle(1);
wt3.hide();
#---------------------------------

input length3 = 2;
input length3b =6;
input price = close;
input averageType = AverageType.WILDERS;

def NetChgAvg3 = MovingAverage(averageType, price - price[1], length3);
def TotChgAvg3 = MovingAverage(averageType, AbsValue(price - price[1]), length3b);
def ChgRatio3 = if TotChgAvg3 != 0 then NetChgAvg3 / TotChgAvg3 else 0;

plot RSI3 = 10 * (ChgRatio3 + 1) - 10;
rsi3.SETDefaultColor(color.WHITE);
rsi3.setLineWeight(2);
rsi3.hide();


input lengthr = 84;
#input price = close;
input averageType2 = AverageType.WILDERS;

def NetChgAvg = MovingAverage(averageType2, price - price[1], lengthr);
def TotChgAvg = MovingAverage(averageType2, AbsValue(price - price[1]), lengthr);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;

def RSI = 50 * (ChgRatio + 1)-50;
DEF RS = average(RSI, 2);
def RS_ = average(RS, 3);
#def all = (rs-rs_);

def diff = 6*(rs-rs_);
#diff.setDefaultColor(color.yellow);

plot rana = (diff-rsi3);
RANA.SETDefaultColor(color.red);
RANA.setLineWeight(2);
RANA.hide();
#plot diff_ = -16* average(rsi-rs_, 2);
#diff.setDefaultColor(color.gray);
#RSI2--------------------------------------
input length2 = 14;
#input price = close;
#input averageType = AverageType.WILDERS;

def NetChgAvg2 = MovingAverage(averageType, price - price[1], length2);
def TotChgAvg2 = MovingAverage(averageType, AbsValue(price - price[1]), length2);
def ChgRatio2 = if TotChgAvg2 != 0 then NetChgAvg2 / TotChgAvg2 else 0;

def RSI0 = 50 * (ChgRatio2 + 1) - 50;
def RSI2 = Average(RSI0, 1);
def rsi2_ = Average(RSI2, 2);

####
plot rall = (RSI2 - rsi2_);
rall.SetDefaultColor(Color.cyan);
rall.SetLineWeight(5);#5
rall.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
RALL.assignValueColor(if rall>0then color.cyan else color.pink);

#DASH
plot all = (wt3 - rall);
#all.SetStyle(3);
all.SetLineWeight(2);
all.SetDefaultColor(Color.green);
all.SetLineWeight(5);#5
all.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
ALL.assignValueColor(if all>0then color.green else color.DARK_GREEN);
###

plot diff0 = 2* (RSI2 - rsi2_);
diff0.SetLineWeight(5);#5
diff0.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
diff0.setDefaultColor(color.gray);

plot total = (RSI2 - diff0);
total.SetDefaultColor(Color.blue);
total.SetLineWeight(1);
total.Hide();

plot total2 = (all - rall);
#total2.SetStyle(3);
total2.SetLineWeight(2);
total2.SetDefaultColor(Color.red);
total2.assignValueColor(if total2>0 then color.red else createcolor(0, 100, 100));
total2.SetLineWeight(5);#5
total2.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);

#wt3.SetLineWeight(5);#5
#wt3.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);

#END CODE

Attached Images
Register to download File Type: png Screen Shot 2020-05-14 at 10.32.03 AM.png (299.3 KB, 418 views)

Last edited by alagrande; May 25th, 2020 at 11:20 PM.
Reply With Quote
The following user says Thank You to alagrande for this post:

Can you help answer these questions
from other members on futures io?
Convert NinjaTrader NT7 indicator to Tradestation EasyLanguage and RADARSCREEN
Platforms and Indicators
Issue meeting order entry conditions
Elite Automated NinjaTrader Trading
Last 5 minutes Label
ThinkOrSwim
Moving average with Lag reduction
NinjaTrader
Linux?
ThinkOrSwim
 
 
  #2 (permalink)
Ashburn, VA
 
Experience: Beginner
Platform: NT8, ThinkorSwim
Broker: TD Ameritrade (currently)
Trading: MES MNQ
 
tracer888's Avatar
 
Posts: 63 since Feb 2014
Thanks: 24 given, 63 received


alagrande View Post
I STILL DONT HAVE A NAME FOR IT.

I think your RSI might have exploded there

I'm assuming it's trying to trigger a trend reversal with the spike?

Reply With Quote
 
  #3 (permalink)
glendale ca usa
 
 
Posts: 82 since Sep 2017
Thanks: 11 given, 64 received


YES, exactly. i been lucky this time, maybe i will share the code.

Reply With Quote
 
  #4 (permalink)
Ashburn, VA
 
Experience: Beginner
Platform: NT8, ThinkorSwim
Broker: TD Ameritrade (currently)
Trading: MES MNQ
 
tracer888's Avatar
 
Posts: 63 since Feb 2014
Thanks: 24 given, 63 received

That'd be great! I still have TOS around here somewhere, would love to apply it to a few charts.

Reply With Quote
The following user says Thank You to tracer888 for this post:
 
  #5 (permalink)
Honolulu
 
 
Posts: 2 since May 2020
Thanks: 0 given, 1 received

Would love the TOS code please. If you're looking for name suggestions, the chart reminds me of that old Atari game, Tempest. You might be too young to remember that game. I'm talking about the OG gaming console of the early 80s. My name suggestion would be RSI_Tempest_Spike.

Reply With Quote
The following 2 users say Thank You to CryptoBuffalo for this post:
 
  #6 (permalink)
Syracuse, NY
 
Experience: Intermediate
Platform: Ninja Trader
Broker: Mirus Futures/Zen-Fire
Trading: NQ
 
Posts: 72 since Jan 2011
Thanks: 17 given, 53 received

your Red and Green lines resemble a DM which includes the ADX also and the Vortex indicator.......not sure where the RSI is....but then again I don't use the 5 min chart...is the RSI your Red and Green lines....after further review your RSI is your tighter Green and White ...right?...How are you trying to use this indicator....looks like a mish mash....


Last edited by loantelligence; May 15th, 2020 at 12:00 PM.
Reply With Quote
The following user says Thank You to loantelligence for this post:
 
  #7 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 48,734 since Jun 2009
Thanks: 31,468 given, 94,015 received

I honestly, genuinely, thought this was a joke when I saw it earlier today!

But seeing other people responding in a serious way, I guess some find it useful and I'm wrong.

Sent using the futures.io mobile app

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal Reply With Quote
The following 6 users say Thank You to Big Mike for this post:
 
  #8 (permalink)
Legendary Market Wizard
Philly, Pa
 
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
 
tigertrader's Avatar
 
Posts: 6,255 since Jul 2010
Thanks: 6,573 given, 34,831 received


Big Mike View Post
I honestly, genuinely, thought this was a joke when I saw it earlier today!

But seeing other people responding in a serious way, I guess some find it useful and I'm wrong.

Sent using the futures.io mobile app

ROFLMAO!

Some things never change!

From another thread; but should be mandatory reading on all newbie threads.

I find it ironic, but not surprising that this thread is currently the most active thread on the forum. In the almost 10 years that I've been a member, (and will attest to this fact) we've gone through many, many, iterations of discussions on this very topic. It's almost a cyclical phenomenon. Another generation of aspiring traders embarking on what they think is going to be a walk-in-the-park, until they discover that achieving success in trading isn't quite as easy as they had envisioned.

Most of them are under-capitalized, and the majority of them don't know the difference between a stock and a bond. A lot of them believe the market owes them a living, and will blame the market for their lack of success, when in fact they lack the self-determination to succeed. There is nothing novel about this phenomenon. And, there is certainly nothing surprising about the response it is generating.

Other aspiring traders are eager to offer their advice. What's ironic is most of these traders are experiencing the same problems, and are incompetent at trading themselves. Incompetent traders are at a double disadvantage, since they are not only incompetent, but they are unawre of it. Almost 1/2 of them couldn't even pony up the $ to become elite members, most are on SIM and have no skin in the game, and I truly wonder how many of the others are consistently profitable to the point, where they can actually support themselves and a family, from their trading. Yet they are crawling all over themselves to tell-like-it-is; to explain how they have reinvented the wheel, and found the answer to the eternal question.

Their advice is a panoply of retail aphorisms and urban trading myths that have been propagated over the years, and regurgitated to the newbie masses. And, it's the same worthless garbage every time. You have to find your edge! Trade your plan! Find what suits you and makes you comfortable. Find a nice indicator you can settle down with and crank out 4 tics at a time. I haven't heard one expert that was offering advice say, "learn how the markets work" before you attempt to trade it.

What's ironic, Is that you'll never see these "experts" participating in threads about the markets and trading, because they really have little knowledge of how markets function, and little idea of what it really takes to make consistent and scalable profits. But they are very inclined to tell a newbie how to trade, and dispense advice with no uncertainty, blissfully ignorant of their own ineptitude. This only serves to perpetuate the cycle of retail mis-information, and re-cycle uninformed, unprepared traders that provide the winners their fresh and unknowing counterparts.

Most people are unlikely to think highly of anyone whose views they oppose. So when the newbie thinks about which person to listen to, whose advice to respect, and where to get his information, itís likely that he will choose the one that parallels his views, even though it may not be in his best interest. There have been countless times that and I have tried to steer people in the right direction, but people hear what they want to hear and disregard the rest. And what's sad, not ironic, is that these words will probably fall on deaf ears, or not really be comprehended nor believed, and most assuredly, they will be ignored by most


Last edited by tigertrader; May 15th, 2020 at 11:47 AM.
Follow me on Twitter Reply With Quote
The following 5 users say Thank You to tigertrader for this post:
 
  #9 (permalink)
glendale ca usa
 
 
Posts: 82 since Sep 2017
Thanks: 11 given, 64 received

hi, my friends
the code is coming soon, i am just tweecking it.
And yes, the red and green are RSI lines.

Reply With Quote
 
  #10 (permalink)
glendale ca usa
 
 
Posts: 82 since Sep 2017
Thanks: 11 given, 64 received



loantelligence View Post
your Red and Green lines resemble a DM which includes the ADX also and the Vortex indicator.......not sure where the RSI is....but then again I don't use the 5 min chart...is the RSI your Red and Green lines....after further review your RSI is your tighter Green and White ...right?...How are you trying to use this indicator....looks like a mish mash....

YES red ad green RSI's

Reply With Quote



futures io Trading Community Platforms and Indicators ThinkOrSwim > My newest and best indicator EVER




Upcoming Webinars and Events
 

Understanding Order Flow Stop Runs & Icebergs w/Bookmap

May 28
 

Free BloodHound Licenses to everyone!

June
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts