Here is how you can add a text label to your chart in ThinkorSwim. Keep in mind that custom labels are automatically placed at the top left corner.
Here, I'm placing a custom text label to remind myself not to overtrade.
Indicators with declarations such as
The code above displays the stock's Implied Volatility line. We included the AddLabel script to show the current value of IV.
A coder's point worth noting [source]
When coding a watchlist column, an 'AddLabel' can be substituted for a plot statement, but only one of the two can be used. When using a plot statement, TS looks for double-precision values only for input (no text) while the AddLabel approach accepts text and double-value-numbers which are combined using the 'concat' function. Good to remember!
Used in Squeeze WL
Usage
Code:
AddLabel(visibility option, your text, color);Example
Ruby:
AddLabel(yes, "DO NOT overtrade", color.red);Here, I'm placing a custom text label to remind myself not to overtrade.
Indicators with declarations such as
declare lower; can also use AddLabel
Ruby:
#
# TD Ameritrade IP Company, Inc. (c) 2007-2020
#
declare lower;
plot ImpVol = IMP_VOLATILITY();
AddLabel(yes, Concat("IV = ", ImpVol), color.orange);The code above displays the stock's Implied Volatility line. We included the AddLabel script to show the current value of IV.
Additional scripts related to AddLabel
- https://usethinkscript.com/threads/...rategy-for-thinkorswim.3722/page-2#post-77231
- https://usethinkscript.com/threads/help-needed-with-conditionals-on-addlabel.1853/
- https://usethinkscript.com/threads/display-rsi-label-on-thinkorswim.798/
- https://usethinkscript.com/threads/addlabel-box-to-display-ma-cross-on-different-tf.1430/
Useful Notes from the thinkScript Lounge
Labels with symbol [source]
Code:
## TICK Label
AddLabel(1, "$TIKI =" + close(Symbol = "$TIKI"));
def c = close(Symbol = "vix");
## vix difference Label
AddLabel(1, "VIX diff =" + (c - c[1]));
## vix Label
AddLabel(1, "VIX =" + c);A coder's point worth noting [source]
When coding a watchlist column, an 'AddLabel' can be substituted for a plot statement, but only one of the two can be used. When using a plot statement, TS looks for double-precision values only for input (no text) while the AddLabel approach accepts text and double-value-numbers which are combined using the 'concat' function. Good to remember!
Used in Squeeze WL
Code:
############
AddLabel(yes,if plot_value == 13 then Concat(">=" , Sq_Count) else if plot_value == 0 then concat("", Sq_Count) else concat("=", Sq_Count)) ;
Assignbackgroundcolor (if (Sq_Count == 0) then color.current
else if Sq_Count > 11 then color.Dark_red
else color.dark_red);
