Custom ThinkScript Indicator Scripts for the Think Or Swim Platform
Posted in Indicator on Feb 6th, 2010
By popular request, here is my incarnation of a sine wave cycle support and resistance study similar to Barry Taylor’s excellent indicator (TradeStation, NinjaTrader, MultiCharts) over at Emini-Watch. The indicator plots support and resistance levels based on John Ehlers’ MESA Sine Wave. The advantage of the MESA Sine Wave is in identifying cyclical turning points [...]
Posted in Indicator on Feb 1st, 2010
I’ve taken the TOS Stochastic Momentum Index, a fast oscillator adept at showing divergences, and added a little twist. Each time the indicator makes a top or bottom and a regular divergence (trend reversal) is detected, an arrow is added indicating the direction of the divergence. The red arrows indicate negative divergence and green positive. [...]
By popular request, here is a study that will display a gap opening and it’s 50% fill line. The plot will dynamically collapse as the gap is filled. It will work on any intraday chart timeframe, 24 hours or regular trading hours so long as the two affected trading days are showing. (Edit: If you [...]
Posted in Indicator on Jan 23rd, 2010
The internal strength of the market can be gauged using many internal measures including Up Volume, Down Volume, Advancing, and Declining Issues. The Market Thrust indicator combines these four values to produce a single plot that gauges these internals. It is simply a plot of (Advancing Issues X Advancing Volume) – (Declining Issues x Declining [...]
Posted in Indicator on Jan 3rd, 2010
Here’s a Sunday afternoon quickie for my loyal readers. While playing with some of the recently added new toys in thinkScript, I build this quick study that displays the Advance Decline Ratio or Advancing-Declining Issues in a little box at the upper left. You can select if you want the A/D Ratio or A-D Issues [...]
