2024 -- October 9th newsletter

[useThinkScript]

New Indicators for thinkorswim: Power Shift Indicator, Candlestick Structure, VWAP Chande Trend Meter, 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!

The Power Shift Indicator - Hubert Senters ADX Chart Setup​

theLEMband said: The Average Directional Index (ADX) and Directional Movement Index (DMI) can be used to identify trends and make trading decisions: Identify trends The ADX measures the strength of a trend, with values above 25 indicating a strong trend and values below 20 indicating a weak trend Generate trade signals Crossovers of the +DI and -DI lines can indicate potential trade signals: When the +DI crosses above the -DI, it could signal a buy if the ADX is above 25 When the -DI crosses above the +DI, it could signal a sell if the ADX is above 25

Candlestick Structure [LuxAlgo]​

samer800 said: The Candlestick Structure indicator detects major market trends and displays various candlestick patterns aligning with the detected trend, filtering out potentially unwanted patterns as a result. Multiple trend detection methods are included and can be selected by the users.

AVAILABLE TO VIP MEMBERS ONLY​

VWAP (Deviation Scaled) - Chande Trend Meter​

MerryDay said: The VWAP is an extremely strong indicator. It works almost perfectly in trending markets. However, losses could be severe in ranging markets. Thus, the importance of verifying an equity's overall trend, the stock's sector trend. and the overall market trend. The Chande Trend Meter (CTM) was developed by Tushar Chande. It assesses how many of the the traditional day / swing trading indicators are positive or negative and creates a score which provides a representation of the strength of the trend...

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Volatility Trend Bands [UAlgo]​

samer800 said: The Volatility Trend Bands [UAlgo] is a trend-following indicator that combines the concepts of volatility and trend detection. Built using the Average True Range (ATR) to measure volatility, this indicator dynamically adjusts upper and lower bands around price movements. The bands act as dynamic support and resistance levels, making it easier to identify trend shifts and potential entry and exit points.

FROM THE ARCHIVES: JUL 2020​

Long Term Bollinger Band Breakout Strategy​

Zachc said: I am always looking for a nice long term system that is adept at entering into long term trends. I don't have time for day trading or even swing trading for that matter. I was listening to the ChatwithTraders podcast which I highly recommend to anyone that has not listened to check out the huge back catalog Aaron has encompassing every market trading strategy and mindset you can think of. This month's episode is with Nick Radge which they took the time to outline Nick's process on building trading strategies which were very enlighting for a novice.