Though I've been trading on and off for the last year, I'm still a relative novice to TOS tools and features (I feel that way anyway - there's a lot to use and learn). I'm also a relative novice to day trading, though I've taken course, developed a plan and have a mentor who gives me tips and coaching as a navigate the difficult waters of DT.

I'm day trading using ToS and make entry/exit decisions based on three indicators:

1. 3 SMA (4, 9, 18)
2. FW_FisherTransformer
3. FW_SOAP

I find myself missing DT candidates in my watchlist because I don't have a scan that notifies me when stocks in my watchlist is setting up for entry/exit (or is ready for entry/exit). I'm going through it manually & am still developing the discipline to go them all before deciding on entry. I've missed many an entry or extra profit by not having a scan to run that gives me all that fit so I can review quickly before entry. I'd like to borrow or buy a scan that does this.

I'm a tech head by profession but haven't had the time to learn Thinkscript in detail. I've searched the Thinkscript reserved words and library to understand how to use the FW_FisherTransfomer in a scan. I also found some code that I've added for a custom scalper using Fisher. It's pasted below. I love this piece of code and have used it for a few months. From it, I've concluded that "fish" is a reserved word but I can't find it any where.

Can some one point me in the right direction on how to use Fisher and SOAP as a study for a DT scan? Thanks for any direction or advice (and thanks Lawyer Trader for sharing the code for the scalper. It's done me well since I found it on your blog site).

#The Fisher Scalper Color Bars, courtesy of The Lawyer Trader. Based on the fisher #transform, this indicator is pretty easy to comprehend. #The bars are colored Green (bullish), White (transition #from bull to bear), Red (bearish), Violet (bearish #transitioning to bullish)

declare lower;

input price = hl2;
input length = 10;

def maxHigh = Highest(price, length);
def minLow = Lowest(price, length);
def range = maxHigh - minLow;
rec value = if IsNaN(price)
then Double.NaN
else if IsNaN(range)
then value[1]
else if range == 0
then 0
else 0.66 * ((price - minLow) / range - 0.5) + 0.67 * value[1];
def truncValue = if value > 0.99 then 0.999 else if value < -0.99 then -0.999 else value;
rec fish = 0.5 * (log((1 + truncValue) / (1 - truncValue)) + fish[1]);

plot FTOneBarBack = fish[1];
plot FT = fish;
plot ZeroLine = 0;

input emalength = 50;

plot ema2 = expAverage(fish, emalength);

FTOneBarBack.SetDefaultColor(GetColor(1));
FT.SetDefaultColor(GetColor(8));
ZeroLine.SetDefaultColor(GetColor(5));

def bullish = if ft > ema2 then 1 else 0;
def bearish = if ft < ema2 then 1 else 0;

assignpriceColor(if ft>ftonebarback and bullish then color.green else if ft>ftoneBarBack and bearish then color.violet else if ft<ftoneBarBack and bearish then color.red else if ft<ftOneBarBack and bullish then color.white else color.gray);

Hi,

Review this:

 

Code

# Commented out - unnecessary #declare lower; #Changed inputs to defs def price = hl2; def length = 10; def maxHigh = Highest(price, length); def minLow = Lowest(price, length); def range = maxHigh - minLow; rec value = if IsNaN(price) then Double.NaN else if IsNaN(range) then value[1] else if range == 0 then 0 else 0.66 * ((price - minLow) / range - 0.5) + 0.67 * value[1]; def truncValue = if value > 0.99 then 0.999 else if value < -0.99 then -0.999 else value; rec fish = 0.5 * (log((1 + truncValue) / (1 - truncValue)) + fish[1]); # Changed plots to defs def FTOneBarBack = fish[1]; def FT = fish; # Commented out - unnecessary # plot ZeroLine = 0; # Changed input to def def emalength = 50; def ema2 = expAverage(fish, emalength); # Commented out - unnecessary # FTOneBarBack.SetDefaultColor(GetColor(1)); # FT.SetDefaultColor(GetColor(8)); # ZeroLine.SetDefaultColor(GetColor(5)); # Changed defs to plots - only one plot at a time # This will find Bullish candidates # Switch # to find Bearish candidates plot bullish = if ft > ema2 then 1 else 0; #plot bearish = if ft < ema2 then 1 else 0; # Commented out - unnecessary # assignpriceColor(if ft>ftonebarback and bullish then color.green else if ft>ftoneBarBack and bearish then color.violet else if ft<ftoneBarBack and bearish then color.red else if ft<ftOneBarBack and bullish then color.white else color.gray);

Try this:

 

Code

def price = hl2; def length = 10; def maxHigh = Highest(price, length); def minLow = Lowest(price, length); def range = maxHigh - minLow; rec value = if IsNaN(price) then Double.NaN else if IsNaN(range) then value[1] else if range == 0 then 0 else 0.66 * ((price - minLow) / range - 0.5) + 0.67 * value[1]; def truncValue = if value > 0.99 then 0.999 else if value < -0.99 then -0.999 else value; rec fish = 0.5 * (log((1 + truncValue) / (1 - truncValue)) + fish[1]); def FTOneBarBack = fish[1]; def FT = fish; def emalength = 50; def ema2 = expAverage(fish, emalength); plot bullish = if ft > ema2 then 1 else 0; #plot bearish = if ft < ema2 then 1 else 0;

Hope this helps...

Good Luck and Good Trading

I've reviewed the code changes you've made, and am adding it to TOS now.

I'll let you know how I works - thanks!!!