2024 -- July 24th newsletter

[useThinkScript]

Your useThinkScript Update: Trend Transition Alert, QTE Scalper, Point and Figure, 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!

Find outside bars and inside bars, with various quantities of smaller bars​

halcyonguy said: Finding outside bars and inside bars, with various quantities of smaller bars. Here are 2 studies for finding, outside bars and inside bars. draws horizontal lines during the range of bars can pick a minimum quantity of smaller bars will find smaller x bars, within larger x bar ranges can pick wicks or body

QTE Scalper Modified​

Patterntrader5 said: A modified version of the QTE scalper indicator. Produces a buy/sell signal based on a 2 candle pattern. For long signals it produces a signal when the high and low of the second candle are below the high and low of the first candle and both candles close above the 10 period EMA. The reverse is true for short signals.

AVAILABLE TO VIP MEMBERS ONLY​

Trend Transition Alert​

MerryDay said: INDICATOR This script is incorporated in the Buy The Dip Dynamic Ranges (the cyan-red plot) to confirm trend. (Thanks to @ianjosephjones for the idea of also creating it as a separate indicator.) Never use a single indicator in isolation. This indicator was provided as a confirming indicator, not an entry indicator. It is contraindicated as an entry indicator: Because the basis of this indicator is moving averages. Moving averages come late to the party [...]

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Bollinger Band Wick and SRSI Signals​

rewardiaz said: This indicator uses a novel combination of Bollinger Bands, candle wicks crossing the upper and lower Bollinger Bands and baseline, and combines them with the Stochastic SRSI oscillator to provide early BUY and SELL signals in uptrends, downtrends, and in ranging price conditions.

FROM THE ARCHIVES: DEC 2019​

Point and Figure (PnF)​

drasp said: This is live and non-repainting Point and Figure Charting tool. Point and Figure method is over 150 years old. It consist of columns that represent filtered price movements. Time is not a factor on P&F chart but as you can see with this script P&F chart created on time chart. P&F chart provide several advantages, some of them are filtering insignificant price movements and noise, focusing on important price movements and making support/resistance levels much easier to identify.