2024 -- September 18th newsletter

[useThinkScript]

New Indicators for thinkorswim: Double Ribbon, Trend Transition Alert, Kendal Rank Correlation, 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!

Double Ribbon [ChartPrime]​

samer800 said: The Double Ribbon - indicator is a powerful tool that combines two sets of Moving Averages (MAs) into a visually intuitive ribbon, which helps traders assess market trends and momentum. This indicator features two distinct ribbons: one with a fixed length but changing offset (displayed in gray) and another with varying lengths (displayed in colors). The relationship between these ribbons forms the basis of a trend score, which is visualized as an oscillator. This comprehensive approach provides traders with a clear view of market direction and strength.

Volume-Supported Linear Regression Trend​

samer800 said: Linear Regression gives us some abilities to calculate the trend and if we combine it with volume then we may get very good results. Because if there is no volume support at up/downtrends then the trend may have a reversal soon. we also need to check the trend in different periods. With all this info, I developed Volume-Supported Linear Regression Trend script. The script checks linear regression of price and volume and then calculates trend direction and strength.

AVAILABLE TO VIP MEMBERS ONLY​

Trend Transition Alert​

MerryDay said: The study looks for reversals based on Person Pivots. Person's Pivot Study (PPS) is a bullish and bearish momentum indicator. This VIP version confirms Persons's direction with ToS DMI Indicator to minimize false signals. There are three scripts in this post: #1 Watchlist #2 Study labels #3 Scanner

Join our VIP Members Club to get access to our premium indicators including Buy The Dip, Advanced Market Moves and Take Profit. Your VIP membership includes:

✓ Full access to public & private forums ✓ No Ads ✓ Priority community support ✓ Unlimited Postings ✓ Premium thinkorswim indicators ✓ Exclusive strategies, scanners, add-ons ✓ Discord chatroom with Trade Alerts

Kendall Rank Correlation​

compupix said: Kendall Rank Correlation NET on SMA is an SMA that uses Kendall Rank Correlation to form a sort of noise elimination technology to smooth out trend shifts. You'll notice that the slope of the SMA line doesn't always match the color of the SMA line. This is behavior is expected and is the NET that removes noise from the SMA.

FROM THE ARCHIVES: FEB 2023​

L3 Banker Fund Flow Trend Oscillator​

samer800 said: Background The large funds or banker fund are often referred to as Whale. Whale can have a significant impact on the price movements in various markets, especially in cryptocurrency . Therefore, how to monitor Whale trends is of great significance both in terms of fundamentals and technical aspects. Function L3 Banker Fund Flow Trend Oscillator can give you a model of complete banker fund flow operation in cycles. Although the script is not so complicated, it is comprehensive to disclose the price trend. That is the reason why I list this as Level 3. Each cycle of banker fund flow may have 5 steps in max as entry, increase position, decrease position, exit, and weak rebound for exit.