M&T Stoplight Band Scan (ToS)

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# Title: M&T Band Reversal Scanner (MTF Latched Version)

# Description: Scans for interactions with bands anchored to HTF Opens.

# Optimization: Uses 'GetTime' logic to identify HTF anchors without "Secondary Period" errors.

# Ported By: TheInvestorToolkit.com

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# 1. INPUTS

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input anchorPeriod = {default "DAY", "WEEK", "MONTH", "QUARTER", "YEAR"};

input bandSide = {default Lower, Upper};

input scanMode = {default "Touched / Breached", "Holding Beyond", "Reclaimed / Reversal", "Near Level"};

input bandLookback = 10;

input bandMult = 4.0;

input percentThreshold = 1.0; 

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# 2. ROBUST ANCHOR DETECTION (Scanner Friendly)

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# We detect the "New Period" without using the 'script' block or AggregationPeriod

def isNew;

switch (anchorPeriod) {

case DAY:

    isNew = GetYYYYMMDD() != GetYYYYMMDD()[1];

case WEEK:

    isNew = GetWeek() != GetWeek()[1];

case MONTH:

    isNew = GetMonth() != GetMonth()[1];

case QUARTER:

    isNew = GetMonth() != GetMonth()[1] and (GetMonth() == 1 or GetMonth() == 4 or GetMonth() == 7 or GetMonth() == 10);

case YEAR:

    isNew = GetYear() != GetYear()[1];

}

# Latch the Open Price of that period

rec latchedOpen = CompoundValue(1, if isNew then open else latchedOpen[1], open);

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# 3. BAND MATH

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def stableDist = close - latchedOpen;

# To capture the volatility of the "Period Peaks" as requested in the original logic:

# We track the max/min excursion from the latched open

rec runMax = CompoundValue(1, if isNew then 0 else Max(runMax[1], stableDist), 0);

rec runMin = CompoundValue(1, if isNew then 0 else Min(runMin[1], stableDist), 0);

# Note: For the scanner stability, we calculate Standard Deviation 

# of the 'stableDist' (Current price vs Anchor) over the lookback.

def distSD = stDev(stableDist, bandLookback);

def bandUp = latchedOpen + (distSD * bandMult);

def bandDn = latchedOpen - (distSD * bandMult);

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# 4. SMART SCAN LOGIC

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def isLower = bandSide == bandSide.Lower;

def targetLevel = if isLower then bandDn else bandUp;

def eventTouch = if isLower then low <= targetLevel else high >= targetLevel;

def isBeyond = if isLower then close < targetLevel else close > targetLevel;

def isReclaimed = if isLower

                  then low <= targetLevel and close > targetLevel

                  else high >= targetLevel and close < targetLevel;

def dist = if isLower then AbsValue(low - targetLevel) else AbsValue(high - targetLevel);

def isNear = (dist <= (targetLevel * (percentThreshold / 100))) or isBeyond;

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# 5. FINAL OUTPUT

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plot Scan = if scanMode == scanMode."Touched / Breached" then eventTouch

            else if scanMode == scanMode."Holding Beyond" then isBeyond

            else if scanMode == scanMode."Reclaimed / Reversal" then isReclaimed

            else isNear;