2024 -- July 10th newsletter

[useThinkScript]

Your useThinkScript Update: Stacked Nested Charts, CT Reversed MACD Cross, Linear Regression Slope, and more...!​

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!

CT Reverse MACD Cross​

sggarg said: I came across this Reverse MACD indicator (Author: The_Caretaker). The unique feature is that the Fast and Slow lines change color to help identify candle by candle the Bullishness or Bearishness of the chart. The Reverse function of the MACD provides value by letting the user know the specific price needed to expect a MACD cross over in the opposite direction. This function can be used to designate risk parameters for a potential trade if using the MACD as their source of edge, letting the user know exactly where and how much their risk is for a potential trade which can be used to design an effective trading plan.

Madrid EMA Ribbon​

Passytroca said: How to Trade with Moving Average Ribbons Expanding Ribbon: End of a Trend When moving averages widen and separate (ribbon "expansion"), it signals the potential end of a trend. Moving averages, like magnets, attract each other and will eventually close the gap. Contracting Ribbon: Trend Change When moving averages converge (ribbon "contraction"), a trend change might be starting. Shorter-term moving averages converge first, followed by the longer-term ones. Parallel Ribbon: Strong Trend Parallel and evenly spaced moving averages indicate a strong trend, showing that all averages are moving in sync...

AVAILABLE TO VIP MEMBERS ONLY​

Stacked Charts Nested Behind Each Other​

MerryDay said: Are you space deficient? Are you lacking the room for all the charts that you would like to analyze. Here is a method for nesting a grid of charts behind one another. Open a new chart Click on the rectangle grid box at the top of your chart Color in, the number of charts that you want to nest behind each other [...]

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Linear Regression Slope​

Tradarr said: In ideal world the Linear regression slope values will remain same for any time period length. because the equation is y = mx+b, where m is the slope. All I did here is m = y/x. The Main Purpose of this indicator is to see, if the Trend is accelerating or decelerating. Thank you to the amazing @samer800 for the addition of divergence lines and bubbles.

FROM THE ARCHIVES: DEC 2019​

LBR Indicator Label, Watchlist, Scan​

MBF said: Raschke's LBR 3 10 Oscillator is similar to the MACD indicator but uses simple moving averages instead of exponential ones. It calculates the difference between fast and slow (3 and 10 bar) simple moving averages, then adds a 16 bar simple moving average of the difference. The input for the oscillator comes from the Closes during the lookback period. The LBR 3 10 Oscillator can be combined with higher timeframe trend filters, statistical tools, and range/volume analysis for enhanced trading insights. Bullish market: S1 and R2 Bearish market: S2 and R1 Neutral market: S1 and R1 The type of market is determined by comparing the pivot point to its three-day average. PPS also uses two proprietary moving average settings to help visualize market conditions...