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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: Ranges and Breakouts by AlgoAlpha is a dynamic indicator designed for traders seeking to identify market ranges and capitalize on breakout opportunities. This tool automatically detects ranges based on price action over a specified period, visualizing these ranges with shaded boxes and midlines, making it easy to spot potential breakout scenarios. The indicator includes advanced features such as customizable pivot detection, internal range allowance, and automatic trend color changes for quick market analysis. |
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| TETRIZ said: "Never fight the stock market — it's bigger than you are." IBD founder William O'Neil Trade the power trends. Power Trend starts when these four events occur simultaneously on a major index: The low is above the 21-day exponential moving average (EMA) for at least 10 days. The 21-day EMA is above the 50-day simple moving average for at least five days. The 50-day line is in an uptrend. The market closes up for the day. A power trend will usually end with the 21-day line crossing back below the 50-day. |
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AVAILABLE TO VIP MEMBERS ONLY |
| MerryDay said: Trend Is Your Friend: The US stock market just logged its most tumultuous quarter since the start of the pandemic. The S&P 500 fell almost 5% between January and March. It was the index's worst three-month period since the first quarter of 2020. REGARDLESS of how many great signals, only trade correlated securities WITH the direction of the market indices and sector for increased trading success. If a stock correlates strongly with it index and sector, it will likely trend up if they are trending up. In the workspace link above, there is a detached labels chart providing status of markets & sectors overall, fundamentals and relative strength for the equity on your trading chart which looks like this: |
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| samer800 said: The VWAP Periodic Close script offers an advanced tool for analyzing the Volume Weighted Average Price (VWAP) across various timeframes. This tool enables traders to visualize VWAP close levels for daily, weekly, monthly, quarterly, and yearly periods, offering a comprehensive view of price behavior across different time frames. It helps in identifying key levels where the VWAP closes at the end of each specified period. |
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FROM THE ARCHIVES: JUL 2020 |
| justAnotherTrader said: Just a simple momentum scanner designed to pick up on unusual number of trades inspired by equityfeed. This scanner will scan on the desired time frame for stocks that are 3*the average number of trades in the current bar i.e. 1min etc. I hope you guys like it, I havent found a similar one on this site, so let me know if its a dup. |
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