- Platform
-
- Thinkorswim
Purpose of this indicator is to keep traders out of choppy markets. Histogram will disappear when the market is choppy. The average line show the quality of price movement. When the price starts getting choppy, the average line will start dropping towards zero.
Code:
#Created by Trading Rush https://tradingrush.net/ and converted to ThinkScript by an unemployed nobody
declare lower;
input line = 20;
def line_new = line/10;
def UPa =
if close[1] > close[2] and close[2] > close[3] and close[3] > close[4] and close[4] > close[5] and close[5] > close[6] then yes else no; #Green
def UPb =
if close[1] > close[2] and close[2] > close[3] and close[3] > close[4] then yes else no; #Green Slow
def UPc =
if close[2] > close[3] and close[3] > close[4] and close[4] > close[5] and close[5] > close[6] then yes else no; #Green Slower
def UPd = if close[1] > close[2] and close[3] > close[4] and close[4] > close[5] and close[5] > close[6] then yes else no; #Green Slower
def UPe = if close[1] > close[2] and close[2] > close[3] and close[4] > close[5] and close[5] > close[6] then yes else no; #Green Slower
def UPf = if close[1] > close[2] and close[2] > close[3] and close[3] > close[4] and close[5] > close[6] then yes else no; #Green Slower
def UPg = if close[1] > close[2] and close[2] > close[3] and close[3] > close[4] and close[4] > close[5] then yes else no; #Green Slower
def DNa = if close[1] < close[2] and close[2] < close[3] and close[3] < close[4] and close[4] < close[5] and close[5] < close[6] then yes else no; #Green
def DNb =
if close[1] < close[2] and close[2] < close[3] and close[3] < close[4] then yes else no; #Green Slow
def DNc =
if close[2] < close[3] and close[3] < close[4] and close[4] < close[5] and close[5] < close[6] then yes else no; #Green Slower
def DNd =
if close[1] < close[2] and close[3] < close[4] and close[4] < close[5] and close[5] < close[6] then yes else no; #Green Slower
def DNe =
if close[1] < close[2] and close[2] < close[3] and close[4] < close[5] and close[5] < close[6] then yes else no; #Green Slower
def DNf =
if close[1] < close[2] and close[2] < close[3] and close[3] < close[4] and close[5] < close[6] then yes else no; #Green Slower
def DNg =
if close[1] < close[2] and close[2] < close[3] and close[3] < close[4] and close[4] < close[5] then yes else no; #Green Slower
def hist =
if UPa or DNa then
10
else
if UPb or DNb then
10
else
if UPc or UPd or Upe or UPf or UPg or DNc or DNd or DNe or DNf or DNg then
10
else
0;
#
def main = (hist[1]+hist[2]+hist[3]+hist[4]+hist[5]+hist[6]+hist[7]+hist[8]+hist[9]+hist[10])/10;
#
def mainColor = if(main < main[1]) then
yes
else
no;
plot Choppy = hist*line_new;
Choppy.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
Choppy.SetLineWeight(2);
Choppy.AssignValueColor(if UPa or DNa then CreateColor(76, 175, 80) else if UPb or DNb then CreateColor(129, 199, 132) else if UPc or UPd or UPe or UPf or UPg or DNc or DNd or UPe or UPf or UPg then CreateColor(200, 230, 201) else color.white); #ColorGreen, ColorGreenSlow, ColorGreenSlower
plot TheLine = line;
TheLine.SetLineWeight(2);
TheLine.AssignValueColor(color.orange);
plot TheAverage = main;
TheAverage.SetLineWeight(2);
TheAverage.AssignValueColor(if mainColor then color.red else CreateColor(170, 76, 175));
Last edited:
YMMV!