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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: The PDF-MA Supertrend combines the innovative Probability Density Function (PDF) smoothing with the widely popular Supertrend methodology, creating a robust tool for identifying trends and generating actionable trading signals. This indicator is designed to provide precise entries and exits by dynamically adapting to market volatility while visualizing long and short opportunities directly on the chart. |
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| samer800 said: The Radial Basis Kernel ATR is a trading indicator that combines the classic Average True Range (ATR) with advanced Radial Basis Function (RBF) kernel smoothing. This innovative approach creates a highly adaptive and precise tool for detecting volatility, identifying trends, and providing dynamic support and resistance levels. |
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AVAILABLE TO VIP MEMBERS ONLY |
| useThinkScript said: The Goal Identify overall bullish stocks that consistently retrace above previous highs in big intraday moves. Successful day trading hinges on trading stocks with a history of big moves with an overall long-term market trend. In last year's strong bull market, the majority of stocks moved big and trended; making it easy to find trades. However, in the current choppy and corrective environment, day traders must ensure they are selecting the stocks most likely to be profitable trades. This updated scan is simple: only trade stocks that have a long-term uptrend AND a history of making big moves with solid ATR movement. |
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| samer800 said: The Trend Filter (2-pole) is an advanced trend-following indicator based on a two-pole filter, which smooths out market noise while effectively highlighting trends and their strength. It incorporates color gradients and support/resistance dots to enhance trend visualization and decision-making for traders. |
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FROM THE ARCHIVES: JUL 2019 |
| Shinthus said: Ever wonder how much "steam" is left in the day with a particular instrument? If you day trade, this tool helps you decide whether it's worth taking more trades or calling it a day. It shows Daily True Range versus the Average True Range as a % in the upper left corner. I typically don't trade after the DTR reaches 100% but sometimes I'll apply that rule flexibly. ATR (Average True Range) measures the average volatility of a stock over a set period (typically 14 days). It gives a sense of how much the stock moves on average. DTR (Daily Trading Range) tracks how much the stock has already moved within the current trading session. By comparing DTR to ATR, you can gauge how much more room. |
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