Buy the Dip (BTD) Clouds for ThinkorSwim

FateOwnzYou

Active member
VIP
VIP Enthusiast
This is Similar to the BTD channels that I had posted here before, except those delt with multiple TimeFrames, these Clouds are made by using multiple BTD Lengths, Just like BenTen's conservative version of the BTD. Shoutout to Chewie76 who came up with the idea for the multiple lengths and adding clouds (good stuff man).

It acts very similar to BenTen's conservative version, but there are some advantages of the clouds.

Some key takeaways from analyzing how it reacts to price:
  • It will show you a bearish or bullish sentiment by which cloud is open at the time (Green = Bullish, Red = Bearish)
  • If you have a solid long green cloud while bullish and notice a red cloud starting to form above price, there's a good chance of price turning around.
  • It gives you a very good aspect of where a bounce could be occurring, when teamed up with your other indicators, you can sometimes pinpoint the bounce.
  • This Works great along side of Chewies76's Hotzone Indicator. You will notice Hotzone reaching over 65 while price is coming up to a cloud. (good chance to get out or short)
  • It works on all timeframes really well
  • If you notice price go outside of the top or bottom line a decent amount, it will SNAP back into the channel.
  • and of course, just like any other "Bands" indicator, the wider the lines are apart, the higher the volatility











Code:
This content is only accessible to VIP members.
Upgrade your account

Or Learn more.

 
Last edited by a moderator:

BenTen

Administrative
Staff
VIP
Beautiful!
 

chewie76

Active member
VIP
VIP Enthusiast
Good stuff! Game changer for sure!
 

TJ Baez

New member
VIP
Great stuff, keep up the good work!
 

mr.10baggers

New member
VIP
Cloud concept from ichimuku Kinkō Hyō -- in japan mean "one glance cloud chart"
but this is hybrid Version thanks so much !! keep it up good works
 

chewie76

Active member
VIP
VIP Enthusiast
I'm testing out the 3 length. I like it. Here is an example of /NQ on the 4 hr chart.

 

J007RMC

Well-known member
2019 Donor
VIP
AWESOME SCRIPT THANK YOU
 

FateOwnzYou

Active member
VIP
VIP Enthusiast
I added Labels to the Clouds to show you what % the price is at between the 2 clouds (see picture). Label is default yellow, red if within 5% of top cloud, and green if within 5% of bottom cloud. New script added into the original

 

samoya

Member
VIP
Absolutely fantastic tool :) thanks for sharing that. watch the circled bounces :) GREAT :)

 

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top