A reader wrote in and asked a question. I'm not sure if I understood exactly what my reader wanted to do but here is one example of leveraging TOS studies. That would return the SMA value for that bar. If the SMA 21 was less than the close of that bar it would print a point at the specified value. Return value true activates the Hide function, return value 0 does not activate it.
Thanks for the email. I hope you don't mind me sharing a portion of it so all can learn. SetLineWeight 5 ; insideBar. Posted by ThinkScript at 3: Martin Zweig's Breadth Thrust indicator for Free. Martin Zweig, the Breadth Thrust Indicator measures market momentum. The Breadth Thrust is calculated by dividing a day exponential moving average of the number of advancing issues, by the number of advancing plus declining issues.
A "Thrust" indicates that the stock market has rapidly changed from an oversold condition to one of strength, but has not yet become overbought. Zweig, there have only been fourteen Breadth Thrusts since The average gain following these fourteen Thrusts was Zweig also points out that most bull markets begin with a Breadth Thrust. A weekly chart is best for this indicator. Posted by ThinkScript at 5: Many times a combination of indicators can shead more light on price movement.
Try this combination and see how you like it. Basically, when the MACD is above the 0 line, it is indicating that the momentum is bullish. When the MACD is negative however, it is indicating that the momentum is bearish. When the 12 days moving average crosses the 26 day moving average, you should watch the next price movements very carefully as it tends to signal a trend reversal. This is a good indicator to watch while markets are moving like they are now.
SetDefaultColor GetColor 1 ; baseline. SetDefaultColor GetColor 0 ; can also be found in default studies. Posted by ThinkScript at 7: Friday, May 29, Bull-Bear Magic plain and simple. Apply The Ketler Channel Study to you chart with this magic. If you're a Bear watch for the red lower dashed line to cross the KC midline for a sell in some cases you must visually project the KC midline when price action is moving quickly , exit your short when the red dashed line crosses the KC lower band.
If you're a Bully do the opposite with the upper dashed line. Posted by ThinkScript at 6: Thursday, May 28, Timing is everything, end false signals. A reader, Bryan wrote in last week with a common complaint about MA's. EMA's are great but so many times a fast line will cross a slow line but then turn right around and un-cross.
I want a way to keep from entering and exiting orders to often. When I say "long" I mean like half a day for day trading" Here's a study for you. The indicator stays 'red' after the Moving Averages cross. When it turns green you are in the safe zone. This is great for true mechanical systems to make sure you don't enter and exit on false signals. AssignValueColor if difference Color. Get the webinar for free! You know I like Free-dom.
Here is a great Webinar freebee at EminiAddict. Dave will teach all about the Ambush trading method. Between the hours of 9: Tuesday, May 26, Distribution, it's come a long way.
A theory about magic number three is, the 3rd time usually is different. Now this is the 3rd time we have a Major Distribution Day, so the question is: Will the 3rd time be different? Both Accumulation and Distribution days. They don't happen all the time. Running this every night will make them obvious. Posted by ThinkScript at 8: I'm a Navy Pilot.
Here are my videos to prove it. Here I am flying, thinking about my wife and my 7 kids. Some clips with my dogs. Some guy on the Internets "claims" to be a pilot. LoL, and some suckers believe him. CrazyFibs, Draw Fibanocci levels on anything.
Here's a great new software tool. Wanna draw fibs on someones chart, or during a live webinar? Posted by ThinkScript at Saturday, May 23, Vacation weekend puzzle. I'll leave you with a puzzle to print out for the kids. Draw your way out of the maze.
Created by Jody Hall in Have a relaxing weekend. Copy paste the TOS code into your own custom study and add a the function ". A request from FreeThinkScript to you. Thanks for the visit today.
This morning I have a favor to ask. Additional functionality in the thinkscript language will lead to better scripts that provide cutting edge analytical tools.
This change to the ThinkScript language is long overdue. When I "reference" a symbol from within a thinkscript I need to be able to specify the specific charting timeframe. There are multiple ways to do this. One way might be to create a setter function the opposite of getAggregationPeriod. Thanks in advance, FreeThinkScript. Thursday, May 21, Double your Stochastics for double the fun. You can change the smoothing types: The answer is no. If you want this kind of good data you will have to find it elsewhere.
Rules to calculate your own Premium: That will give you the "spread" between the 2. To get fair value premium: This one is for Steve A. Well maybe not the snails and tropical fish. Tonight we'll take a look at the Turtle Trading System.
Please take a minute to review his article Cho does use Tradestation but he is a nice guy so don't get too mad at him. Let's cut his logic over to ThinkOrSwim! Here are a couple of variations on the Donchian Channels. I run them both at once. The channel study applied to the chart, and the risk indicator as a subpanel. Create 2 seperate studies and apply them both to the same chart. The 1 minute is most reliable. Make sure that the 'Length' variable is the same in both studies.
Awesome free thinkscripts for thinkorswim! Posted by ThinkScript at 2:More...