In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. case "Advance/Decline Line (Daily)": The reverse is also true when desired arrows do not exist because a condition is not being triggered. No other changes, except that I added Bitcoin to the test group. This means that 'nice' is the with that fold has been keeping tract of internally and '+ idx3' is the current loops calculated value that is to be added to nice. This section allows you to add extra parallel lines to the regression channel. def highestBar = HighestAll( barNum ); Questions else if price == vwap then "VWAP" https://usethinkscript.com/threads/tradingviews-linear-regression-indicator-for-thinkorswim.3721/Linear regression channels are quite useful technical analys. The upper and lower channel lines, parallel to the centerline (the true linear regression)., indicate the furthest that the data has been from the middle line The '100' in the title means that it shows the upper and lower lines at 100% of the data difference from the centerline . Alternate 1: Line from/for yesterdays close. Hence, if you have two folds in a study and you assign 'idx' to in the first fold you cannot assign 'idx' to in the second fold. else if type == type. A very common way of specifying the secondary aggregation is: def Agg = AggregationPeriod.FIFTEEN_MIN;# Use the desired constant to specify the time Using the '+' symbol is much easier to master and is recommended. With the Polynomial Regression Channel, you have the upper band, the lower band, and the neutral band. I have it at settings that showed extremes for when to consider scale in for reversals, which I would like to note, may also help out the shorter time frame strategy by helping show areas of extremes when to stop entering trades long or short in areas of over-extension. What Is The Polynomial Regression Channel & How To Trade With It Note: this action will not recalculate the whole channel, but just extend the existing lines. else if price == open_interest then "The price-variable selected is Open_interest = " + Round(open_interest,0) for example check this trendline on daily one year chart for swbi , also look at one year daily chart on CIT , join Reg blue trendline for april 27th , june 3rd and present lows to form a trendline. The distance at which the lines are plotted can be calculated using different algorithms. When doing so, it is suggested that you name the new study as follows: Builtin-name + _ + your-initials. As an example let 10 be the original value (B4) and 15 the final value (NOW). left mouse key and drag the chart to the left for as much right-space as you want. Regression channel consists of two parallel lines plotted equidistantly above and below the Regression Line. Using the chart settings directly Characteristics and Risks of Standardized Options, Trading Forex: What Investors Need to Know. Trading Standard Deviation Channels - Incredible Charts FIRM, LONG_DASH, MEDIUM_DASH, SHORT_DASH, POINTS, SHORT_DASH is the default value of 'SetStyle'. Example: Better trades with simple strategies, proven indicators, and a community of support, The Best Collection of thinkorswim Scripts, 2,000+ Traders in the Private Discord Community, 50+ Proven Strategies, Setups, & Chart Examples from Pro Traders, Get Answers To Your Questions From Seasoned Traders. The original test used a 50 period Linear Regression. Set it too high and you may unnecessarily be wasting server capacity. "UpperBand"[1] is less than KeltnerChannels(). else if price == imp_volatility then "The price-variable selected is current imp_volatility = " + AsPercent(imp_volatility) Set agg = day. Also a S&P 500 sector comparison tool may be had at S&P 500 Sector Comparison. can be any name you want but 'i' or 'index' is commonly used e.g. def _volAvg = Average( volume, length ); Market volatility, volume and system availability may delay account access and trade executions. stock currently is. The upper and lower channel lines, parallel to the centerline (the true linear regression)., indicate the furthest that the data has been from the middle line The '100' in the title means that it shows the upper and lower lines at 100% of the data difference from the centerline . While 'percentage view' is activated, place the cursor-line over the desired bar and right click. Please read theRisk Disclosure Statementprior to trading futures products. The below picture is used to illustrate the concept. AddLabel(1, "Lower cloud is price choice", Color.VIOLET); It appears that "TOS and Thinkscript Snippet Collection" hasnt been update in Prior to trading options, you should carefully read Characteristics and Risks of Standardized Options. This video gives a clear explanation of the differences between the three in Part 1 and usage in Part 2. Hence it is not addressed herein. Comment: 'NumberFormat.TWO_DECIMAL_PLACES', 'NumberFormat.THREE_DECIMAL_PLACES' and 'NumberFormat.DOLLAR' are the three choices that can be used with 'AsText'. case NASDAQ: Using parameters is explained below. #plot scan = price1 >= term within WithinBars bars; I find that frequently changing the timeframe of charts is much easier to read when I have vertical lines as market start and end times. It is duplicated here because it demonstrates so well the selection Inertia ( IDataHolder data, int length); Description. You can also use color changes to identify various plots. This example will specify all parameters to avoid confusion. plot factorial = fold index = 1 to n + 1 with Var = 1 do Var * index; Calculates the factorial of a number. In addition to that, a neat trick is, while in the code editor, drag the editor window down so that you can see the charts label and header values. Another example that you may try as a work-around is as follows: Realize also that overly complex if-conditions are only one aspect that generates the 'too complex' error. A distance of +/- 1 SD from the average will include 68% of the 100 I will be watching this forum to see what ideas are also thrown out to your original strategy as well. Plot Stoch_Slow_OS = StochasticCrossover(stochasticMode = "StochasticSlow", crossingType = "Oversold").signal; The above reads as 'scan for when the 14 period slow stochastic crosses below 20'. Defines the number of bars for which the linear regression is calculated. The multiple conditions may be used to define a conditional statements. Hence being familar with what is available herein, will enhance recall when needed. So is there something built in? This tip presents a method to sort out the confusion that may arise with multiple conditions. else "N/A",color.white); #hint:Plots and shows a label for the change compared to the past inputted-number-of-days. The indicator stays 'red' after the Moving Averages cross. An example is -- #hint: Plots a trend line between the two input dates. case "Advance/Decline Spread (Issues)": plot scan = price1 >= term; To scan for above happening within the last 15 days the above would read And it is so easy to change the agg. The statement "if AggPeriod == AggregationPeriod.DAY then else;" reads: if the variable AggPeriod equals (is the same as) AggregationPeriod.DAY then do something else (otherwise) if its not, then do some other thing. This value is the number of milliseconds since the epoch (January 1, 1970, 00:00:00 GMT). Scanning for stocks that have just crossed over produces less hits that a scan that looks for a xOver within one (1) day. Deviation levels. - useThinkScript Community Use a month agg and it will tell where in the last months range the stock currently is. CustomColor color' defines the background color of the label box. DAYS AGO, Return 'the day-of-the-week' of the first bar of the chart, SecondsFromTime() & SecondsTillTime() & others, C-'BATTLE OF THE BANDS' RE IMPLIED VOLATILITY, C-VOLUME LABEL AS A PERCENT OF AN INPUTTED X-DAYS-AVG-VOLUME, T&C-EXAMPLES OF THE USAGE OF THE 'SUM' FUNCTION, C-HOW TO SHOW WHEN A CANDLE PATTERN EXISTS ON A CHART, C- IMP_VOLATILITY() PERCENTILE PLOT WITH LABELS, C-MINUTES-AGO SINCE A TURN-UP OF A MOVING AVERAGE, C- NORMALIZED MACD AND STOCHASTIC PLOTTED WITH A SQUEEZE INDICATION, C-ILLUSTRATION OF SAME RESULT WITH DIFFERENT CODING, C&S-FLEXIBLE 200-DAY MOVING AVERAGE PLOT AND SCAN, C-AN ALTERED 'PERCENTCHG' TO MAKE IT MORE USEFUL, C-LINEAR REGRESSION OF THE PROJECTIONBANDS STUDY, C-CLARIFICATION OF THE FOLLOWING THREE COMPARISON STUDIES, C-COMPARISON OF ALL SECTORS OF THE S&P 500 (SPX), C-PERCENTAGE PRICE OSCILLATOR (PPO) WITH COMPARISON SYMBOL, C-'Ichi_TK_Exit_Warning' --- AN EARLY ICHIMOKU T-K EXIT STUDY, C-'IchiOneGlance'--ALL MAIN ICHIMOKU CRITERIA IN DASHBOARD FORMAT, C-'Ichi_Signals'IDENTIFIES ALL MAJOR ICHIMOKU SIGNALS FOR LEARNING OR USE, WLC-PRICE-TO-EARNINGS (P/E) RATIO FOR A WATCHLIST COLUMN, WLC-WHEN A DIVERGENCE EXISTS BETWEEN PRICE AND THE MACD, S-DMI_OSCILLATOR SCAN FOR TRENDING-UP STOCKS, S-SCAN RSI UNDER 20 & CLOSE > 200-DAY SMA, S-SCAN CROSS OF STANDARD DEVIATION CHANNEL, S-NOTEWORTHY RESOURCE FOR PREDEFINED SCANS, S-NEW BULLISH CLOSE ABOVE THE ICHIMONU CLOUD, S-CROSSING ABOVE & BELOW THE ICHIMOKU CLOUD, T-A REFERENCE RECALL OF A STRATEGYS RULES (SETUP), T-USING MULTIPLE TIME FRAMES TO PLAN ENTRIES, T-WIZARD ACCESS FOR EDITING EXISTING STUDIES, T- VERTICAL LINES AT MARKET OPEN AND CLOSED TIMES, T-EASILY VIEWING CHARTS OF STOCKS IN A LIST, T-NAVIGATION VIA KEYBOARD HOTKEYS vs THE MOUSE, T-DEFINING AND APPLYING CONDITIONS IN A STUDY, http://demo.thinkorswim.com:7001/manual/metal/thinkscript/reference/Functions/Others/If.html, http://demo.thinkorswim.com:7001/manual/metal/thinkscript/reference/Reserved%20Words/if.html, https://tlc.thinkorswim.com/center/charting/thinkscript/reference/Functions/Look---Feel/GetColor.html, https://www.thinkorswim.com/tos/thinkScriptHelp.jsp?laf=dark#constants, http://en.wikipedia.org/wiki/List_of_colors:_A%E2%80%93F, http://en.wikipedia.org/wiki/X11_color_names, http://tda.thinkorswim.com/manual/metal/thinkscript/tutorials/advanced/referencing/other%20study.html, https://tlc.thinkorswim.com/center/charting/thinkscript/tutorials/Chapter-13---Past-Offset-and-Prefetch.html, http://groups.yahoo.com/neo/groups/TOS_thinkscript/info. scan.SetLineWeight(5); For example: Price.SetDefaultColor(GlobalColor("Purple")); Data.SetDefaultColor(GlobalColor("normal"));# Provided 'normal' is previously defined. Fold will normally work in a scan and custom columns.