Tuesday, January 19, 2016

thinkscript included: sdi_csl_label - core sector list metrics in a color coded label

being a fan of shadow trader, i have come to see that their core sector list is an important indicator of the mood of the market. however, this is a part of brad's broadcast where we hear him going to the market-watch tab and mouthing the up/down count on 23 active symbols ($bkx hasn't been updated since 3/27/2015.) i just thought that it might be more convenient to put that in a chart label. then, i thought, why not color code the label like a mood ring. there's 23 active symbols in the list so that makes it easy to break the count into 4 sections. an up count of 18-23 is strongly bullish (default bright green), 14-17 is somewhat bullish (dark green), 10-13 is neutral (orange), 6-9 is somewhat bearish(dark red), 0-5 is strongly bearish (bright red) .

so that's what i've done. here's how this looks today:



here's the code: (how to install)



################################
# sdi_csl_label
script u{ input sym="SPY"; plot x=close(sym)>close(sym)[1];}
#hint: Displays color coded label with the core sector list up/down count rev: 1.0.0 http://www.smallDogInvestor.com 
script d{ input sym="SPY"; plot x=close(sym)<close(sym)[1];}
# author: allen everhart
def upCnt=0
# date: 18jan2016
#+u("$BKX")
+u("$DJSINS")
# copylefts reserved. This is free software. That means you are free
+u("$DJT")
# to use or modify it for your own usage but not for resale or reprinting. 
+u("$DJUSCA")
# Help me get the word out about my blog by keeping notices of origin in place.

+u("$DJUSCL")
+u("$DJUSHB")
+u("$DJUSHC")
+u("$DJUSNS")
+u("$DJUSRE")
+u("$DJUSRR")
+u("$DJUSRT")
+u("$DJUSSW")
+u("BTK")
+u("CEX")
+u("DRG")
+u("OSX")
+u("SOX")
+u("TOB")
+u("UTY")
+u("XAL")
+u("XBD")
+u("XNG")
+u("XOI")
+u("XTC")
;
def dnCnt=0
#+d("$BKX")
+d("$DJSINS")
+d("$DJT")
+d("$DJUSCA")
+d("$DJUSCL")
+d("$DJUSHB")
+d("$DJUSHC")
+d("$DJUSNS")
+d("$DJUSRE")
+d("$DJUSRR")
+d("$DJUSRT")
+d("$DJUSSW")
+d("BTK")
+d("CEX")
+d("DRG")
+d("OSX")
+d("SOX")
+d("TOB")
+d("UTY")
+d("XAL")
+d("XBD")
+d("XNG")
+d("XOI")
+d("XTC")
;
plot colorChoice=double.nan;
# author: allen everhart
colorchoice.sethiding();
#source http://www.smallDogInvestor.com 
colorchoice.hidetitle();
colorchoice.defineColor("strongly bullish", color.gREEN);
colorchoice.defineColor("bullish", color.UPTICK);
colorchoice.defineColor("neutral", color.oRANGE);
colorchoice.defineColor("bearish", color.DOWNTICK);
colorchoice.defineColor("strongly bearish", color.RED);

addlabel(1, "CSL:+"+upCnt+"/-"+dnCnt, 
    if upCnt>17 then colorchoice.color("strongly bullish")
    else if upCnt>13 then colorchoice.color("bullish")
# copylefts reserved. This is free software. That means you are free
    else if upCnt>9 then colorchoice.color("neutral")
# to use or modify it for your own usage but not for resale or reprinting. 
    else if upCnt>5 then colorchoice.color("bearish")
# Help me get the word out about my blog by keeping notices of origin in place.
    else colorchoice.color("strongly bearish")

);

3 comments:

  1. Glad to see the Blog active again.

    Did this code post properly on the webpage...as in header, etc.?

    Finally, I think that this conference might be close to your area ~ NYC?

    Quantcon.com

    ReplyDelete
    Replies
    1. Yes. The code functions correctly and is displayed as intended.
      I'll look into the conference.

      Delete
  2. Why does the indicator change numbers depending on the time frame?

    ReplyDelete