1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. New Pro Lifetime Memberships are no longer available.

thinkorswim Exit and/or No Entry 1.0

Exit or Stop Indicator - fast and quite precise

  1. apdusp
    i posted this somewhere else but i presume this is the right place. i believe some of you can be interested in the following code which i defined mainly for exits when price goes below it, though it can also be used to veto a new entry if at that time price is below it. it can be made more sophisticated and/or used in conjunction with other indicators but still as it is i find it very useful. in any case improvement suggestions are welcome.

    just for the record, instead of ATR for a volatility measure, Implied Volatility is a possibility which can be used as a substitute or in conjunction with ATR. the only problem is that unfortunately TOS has some flaws on many underlings when plotting IV so it is not a reliable option imho.

    parameters can be adjusted to make it more or less tolerant with price movement.