Custom ThinkScript Indicator Scripts for thinkorswim
Posted in Indicator on Apr 4th, 2010
Since the introduction of the native TOS Volume Profile, I’ve had numerous requests to publish “those lines” that were a part of my original Volume Profile study. The lines are a chart period VWAP (Volume Weighted Average Price) and three VWAP standard deviation bands which default to 1/2/3 sigma but are user selectable. By chart [...]
Posted in Indicator on Mar 22nd, 2010
One of the most basic tenants of trading is the use of multiple timeframes. The highest probability signals occur when indicators align across multiple different time period charts. The Multiple Timeframe Stochastic Momentum Index (SMI) monitors multiple timeframes simultaneously and indicates when an overbought or oversold alignment exists with either a red or green vertical [...]
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 [...]
