Hi everyone,

I'm new to this forum but I thought I'd try to make a small contribution while I can. What I'm including here (if my upload goes as planned) is my current best effort at the TTM Scalper Buy/Sell -- the indicator that paints a white bar on the recent high or low, 3 bars after it happens.

In my analysis, 95%+ of the bars that get painted appear to be valid and accurate bars. Once in awhile, it's not the lowest or highest bar that is painted, but rather the one next to it -- I haven't been able to figure out why, but it's still close enough to be useful.

Additionally, about 85%+ of the bars which should be painted are. That means that as best I can tell, TTM's indicator will paint 10 white bar lows or highs for every 8.5 or so that my indicator paints.

If anyone can figure out how to tune this indicator to match TTM's exactly, please feel free. I'll also re-post if I ever figure it out.

Best Regards,
biegea

[torero]

This on what timeframe chart you're using to get 95% and 85% accuracy? I had tried it (maybe coded differntly) but wasn't convinced enough to trade it.

[dovetree]

Hi Biega, I have Ts 2000i and cant download ELD files could you post the easy language code so I can install this?

Thanks

[biegea]

Torero, it works on any timeframe. My approximate percentages were based on charts I compared it to in various TTM videos.

Dovetree, here's the code:

inputs: BarWidth(3); 
 
variables: UpTrend(false), LowPainted(false), HighPainted(false), ExtremeBar(0), 
		   TriggerBarLow(0), ExtremeBarHigh(0), 
		   TriggerBarHigh(0), ExtremeBarLow(0), counter(-1); 
 
// Compare the 9-period MA to the previous bar's value as the basis for determining 
// if we are in an uptrend or a downtrend at this moment. 
//  
// We will NOT check for the presence of a trend if we are 
// "waiting for a confirmation of a trigger (i.e. Extreme Bar <> 0)"  ?? 

	//Downtrend -- Look to paint a low bar 
	if (AverageFC(Close[3],9) < AverageFC(Close[4],9) and ExtremeBar=0)	
		or ((AverageFC(Close[3],9) = AverageFC(Close[4],9) and ExtremeBar=0) and (UpTrend=False))
		then begin 

		UpTrend=False; 
		HighPainted=false; 
		if low[3] > low then LowPainted=false; 
	end; 
 
		
	//Uptrend -- Look to paint a high bar
	if AverageFC(Close[3],9) > AverageFC(Close[4],9) and ExtremeBar=0
		or ((AverageFC(Close[3],9) = AverageFC(Close[4],9) and ExtremeBar=0) and (UpTrend=True))
		then begin 

		UpTrend=True; 
		LowPainted=false; 
		if high[3] < high then HighPainted=false; 
	end; 
 
 
//Check for triggers and paint the extreme bar on confirmation 
//Uptrend 
 
	if UpTrend = True and HighPainted=false then begin 
		 
		if high[2] < high[3] and ExtremeBar=0 then begin 
			ExtremeBar = 3; 
			ExtremeBarHigh = high[3]; 
			TriggerBarLow = low[2]; 
		end; 
		 
		if high[1] > ExtremeBarHigh then begin 
			ExtremeBar = 0; 
			ExtremeBarHigh = 0; 
			TriggerBarLow = 0; 
			counter=-1; 
		end; 

 


		if ExtremeBar <> 0 then	counter=counter+1; 
 
 
		// Paint an "Extreme Bar" if it exists based on the two if blocks above 
		// OR if the earlier close was above the 8-EMA and the later close was 
		// below the 8-EMA) 
			 
		if (close[1] < TriggerBarLow and ExtremeBar <> 0)  
//			or ((Close[3] > XAverage(Close[3],8)) and (Close[1] < XAverage(Close[1],8)))
			then begin 
 
			ExtremeBar = ExtremeBar + counter; 
			PlotPaintBar[ExtremeBar](High[ExtremeBar],Low[ExtremeBar],"ScalperSig",white); 
			SetPlotWidth[ExtremeBar](1,BarWidth); 
			SetPlotColor[ExtremeBar](1,white); 
		 	alert("Scalper Sell Detected!"); 
			HighPainted = true; 
			counter=-1; 
			ExtremeBar=0; 
		end; 
	end; 
 

//Downtrend

	if UpTrend = False and LowPainted=false then begin
		
		if low[2] > low[3] and ExtremeBar=0 then begin
			ExtremeBar = 3;
			ExtremeBarLow = low[3];
			TriggerBarHigh = high[2];

			if ExtremeBarLow > low[4] then ExtremeBar = 4;
		end;
		
		if low[1] < ExtremeBarLow then begin
			ExtremeBar = 0;
			ExtremeBarLow = 0;
			TriggerBarHigh = 0;
			counter=-1;
		end;

		if ExtremeBar <> 0 then	counter=counter+1;

		if close[1] > TriggerBarHigh and ExtremeBar <> 0 then begin
			ExtremeBar = ExtremeBar + counter;
			PlotPaintBar[ExtremeBar](Low[ExtremeBar],High[ExtremeBar],"ScalperSig",white);
			SetPlotWidth[ExtremeBar](1,BarWidth);
			SetPlotColor[ExtremeBar](1,white);
		 	alert("Scalper Buy Detected!");
			LowPainted = true;
			counter=-1;
			ExtremeBar=0;
		end;
	
	end;

[dovetree]

Hi Biega,
Thanks , this I assume is a paint bar study?

[biegea]

Yessir (or yes ma'am). Paintbar study. Looking forward to any feedback or assistance anyone can provide. It would be exciting to get it 100% matched with TTM's.

[dovetree]

Hi Biega, just installed it and get no bars painted ?
Just to clarify the // marks are for comments in TS 8 and above is that correct.

[dovetree]

Hi biegea, Sorry just got it going after substituting some of the // for {. At first glance it is pretty good but will let you know.

cheers