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| Here on useThinkScript, we dive deep into the latest discussions and highlight the most valuable indicators, set ups, and strategies which could give you the edge in this week's markets. Scroll down to check out this week's must reads, carefully selected by uTS Moderators! |
| samer800 said: The Dynamic Order Blocks indicator displays the most recent unmitigated bullish and bearish order blocks on the chart, providing dynamic support/resistance areas. When price sweeps an order block, this is highlighted by the script, indicating a potential reversal. The average between the displayed order blocks is also displayed |
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| LLP asked: A stock's next earnings date is important because earnings announcements can have a significant impact on a company's share price and the market as a whole. Earnings announcements can provide new information that helps value stocks and decide whether to buy, sell, or avoid them. They can also reveal a lot about a company's underlying fundamentals and change expectations for how the stock may perform. How to make this Earning date shows as a column? |
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| MerryDay said: Oscillators are some of the best indicators that daytraders have available. A major component of this indicator is that the overbought and oversold boundaries are not static at 80 and 20, as found in standard RSI Indicators. 99.9% of instruments are not trending at those boundaries. So unless there are some extreme moves; those boundaries are less than optimal. This indicator creates the oversold and overbought zones based at where the instrument is currently trending. This makes these zones applicable to our current trade Here is my personal table of my entry and exits based on the smoothed RSI... |
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| samer800 said: The KDJ oscillator display consists of 3 lines (K, D and J - hence the name of the display) and 2 levels. K and D are the same lines you see when using the stochastic oscillator. The J line in turn represents the deviation of the D value from the K value. The convergence of these lines indicates new trading opportunities. Just like the Stochastic Oscillator, oversold and overbought levels correspond to the times when the trend is likely to reverse. L2 KDJ with Whale Pump and Oust is a composite indicator that combines both KDJ and Whale Pump and Oust detector. By virtue of this, fake signal of KDJ can be filtered out to some degree. |
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FROM THE ARCHIVES: APR 2020 |
| MP432 said: Here is the IWO Turning Point indicator for ThinkorSwim. You can trade options with it. The TPI is a way to quantify the rate of change of a stock or market. It gives you specific levels that shows the probabilities of a move in a stock. The TPI has a few components. The first is the “Rolling” line. This shows us the rolling returns of a stock for whatever timeframe we want. The default setting is a period of 10 trading days, which is the equivalent of 2 weeks. So, for an example, if a stock is a reading of 4.7%, that means it has rallied 4.7% over 10 trading days. |
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