Scroll down to check out this week's must reads, carefully selected by uTS Moderators!
Deviation Trend Profile
chewie76 said:This is an adaptation of the Deviation Trend Profile converted from Tradingview to Thinkorswim.
A statistical trend analysis tool that combines moving average dynamics with standard deviation zones and trend-specific price distribution.
Standard Deviation Zones: Calculates ±1, ±2, ±3 and ±4 levels from the SMA using ATR, forming dynamic envelopes around the mean.
The shaded areas are the 3-4 standard deviation from a moving average (default 50 SMA). Notice in the below picture of /GC on the four-hour timeframe, price was rejected every single time when it hit the ±4 levels.
Color Candles can be turned on/off in settings and align with the Standard Deviation Zones.
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https://usethinkscript.com/threads/deviation-trend-profile-bigbeluga-for-thinkorswim.21408/
The Awesome ADX
antwerks said:ADX Enhanced with labels and slope calculations to identify trend strength
Strongly Bullish = slope > +1.5 (DARK_GREEN)
Moderately Bullish = +0.5 to +1.5 (GREEN)
Neutral = -0.5 to +0.5 (YELLOW)
Moderately Bearish = -1.5 to -0.5 (PINK)
Strongly Bearish = slope < -1.5 (RED)
These ranges are arbitrary but usually used with slope calcs of ADX. You can add lower limit at 20 and upper limit lines at 25 if you want
Been working on a “Sentiment Pulse Oscillator” for a little while now and just wanted to share it with everyone. This indicator combines RSI, CCI, and OBV...
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https://usethinkscript.com/threads/the-awesome-adx-for-thinkorswim.21445/
VIP SUBSCRIBERS ONLY |
The Basics Of Reversal Trading
MerryDay said:First, make sure that your instrument is a suitable reversal trade [link].
Second, New traders:
Love mean reversion because the payoff looks huge—6–10% on a single trade versus the 2% most trend traders aim for. The problem? They often jump in too soon, assuming “it can’t go lower” and they fear missing out.Without a real catalyst or tested support, those trades either sit dead in the water or sink further. That mix of FOMO and guessing makes reversal trading especially risky for beginners.
If you’re new to mean reversion, remember this:...
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https://usethinkscript.com/threads/the-basics-of-reversal-trading.21454/
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ATR Parabolic SAR (PSAR ) Strategy
samer800 said:Created a version of Parabolic SAR when I accelerate it not based on the difference from the extreme point but based on current ATR. So the idea is that for a more volatile market it should move faster.
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https://usethinkscript.com/threads/atr-parabolic-sar-psar-strategy-quantnomad-for-thinkorswim.14237/
FROM THE ARCHIVES |
Cumulative Delta Volume Pressure
MerryDay said:CAVEAT:
Members will sometimes mistake these indicators as defining Volume: Buyers and Sellers. Buyers and Sellers information is NOT available from the ToS data feeds.
When we look at the movement of price in comparison to volume, it is called Volume Pressure. The script discussed here are representative of the PRICE spread compared to the overall volume spread.
We create a percentage for buying and selling pressure by using the candlestick patterns versus volume.
Volume Pressure identifies the price movement which when aggregated against volume it is used to define MOMENTUM not actual buyers and sellers.
Read more
https://usethinkscript.com/threads/...ressure-mod-by-sam4cok-for-thinkorswim.12408/
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