ThinkOrSwim Buy/Sell Alerts based on PPS

I’ve been working a little with the PPS study and since I can’t always pay attention to the chart, I added some alerts to it.

Feedback is always welcome.

input ppsAlerts = no;
input todayOnly = yes;
input useSpace = no;
input offset = 0;
input price = close;
input rsiLength = 14;
input rsiOverBought = 70;
input rsiOverSold = 30;
input rsiAvgType = AverageType.Simple;
input macdFastLength = 12;
input macdSlowLength = 26;
input macdLength = 9;
input macdAvgType = AverageType.Simple;

def Today = if !todayOnly then 1 else if getday() == getLastDay() then 1 else 0;

# add a space to the chart between the bar and the arrows
def space = if useSpace then average(high-low)/3 else 0;

# pps buy signal
plot ppsBuy = If !Today then Double.NaN else pps().buySignal[offset]-space;
alert(ppsAlerts && ppsBuy, “PPS Buy”,alert.BAR, sound.Ring);

# pps sell signal
plot ppsSell = If !Today then Double.NaN else pps().sellSignal[offset]+space;
alert(ppsAlerts && ppsSell, “PPS Sell”,alert.BAR, Sound.Ring);

plot slowAvg = pps().slowAvg[offset];
plot fastAvg = pps().fastAvg[offset];

def macdDiff = MACD(macdFastLength, macdSlowLength, macdLength, macdAvgType).Diff[offset];
AddLabel(yes, "MACD:" + macdDiff, If macdDiff < 0 then Color.RED else Color.Green);

def rsiV = RSI(rsiLength, rsiOverBought, rsiOverSold, price, rsiAvgType).RSI[offset];
AddLabel(yes, "RSI:" + rsiV, if rsiV > rsiOverBought then Color.RED else if rsiV < rsiOverSold then color.Green else color.White);

- v1

- v2

  • Now more configurable.
  • rsi label uses colors.
Ahmed W. Mones
Ahmed W. Mones
VP Of Technology

I’m always interested in learning new things and new technologies.

comments powered by Disqus