2025 -- January 15th newsletter

[useThinkScript]

New Indicators for ThinkorSwim​ Hindenberg Omen, AlphaTrend, $TICK for Scalping, 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!

Hindenburg Omen with McClellan Cancellation​

finnovator said: "Hindenburg's Omen" is a technical indicator in financial analysis designed to predict a potential significant decline or a stock market crash. How it works Hindenburg's Omen is triggered when several conditions are met simultaneously on a stock market: A high number of stocks reaching both new highs and lows over 52 weeks (usually more than 2.2% of stocks). The number of new highs must not exceed twice the number of new lows. The stock index must be in an upward trend (positive 50-day or 10-week moving average). The McClellan Oscillator (sentiment indicator) should be negative.

AlphaTrend​

samer800 said: Here my conversion with option of AlphaTrend and AlphaTrend Max With Trend Magic; we had some problems. To minimize stop losses and overcome sideways market conditions To have more accurate BUY/SELL signals during trending market conditions To have significant support and resistance levels To bring together indicators from different categories that are compatible with each other and make a meaningful combination regarding momentum, trend, volatility, volume and trailing stop loss

AVAILABLE TO VIP MEMBERS ONLY​

Exploring $TICK for Scalping​

rewardiaz said: Recently, I was introduced to $TICK, and after a deep dive into its functionality, I’ve uncovered its potential value in scalping. My research indicates that $TICK measures the difference between the number of stocks trading on an uptick and those trading on a downtick on the New York Stock Exchange (NYSE). With this understanding, I decided to create an indicator to visualize this process. I’m not sure if others already have this or if it’s available within our community, but I believe it could be a helpful addition to our toolkit. Nevertheless, happy trading Understanding $TICK Movements This study categorizes $TICK values into three distinct ranges, reflecting varying degrees of market activity...

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Optimum Predictor Indicator​

Sesqui said: This indicator implements the Optimum Predictor Indicator from Dr Ehler's book, "Rocket Science for Traders" in thinkscript and is provided for educational purposes. The indicator implements Dr Ehler's algorithm which adds phasors of the smoothed and detrended price data and applies the Homodyne Discriminator to the result, returning the price cycle period (eg time to complete a full cycle). The price cycle period is then refined via more detrending and EMA smoothing per the algorithm in Dr Ehler's book. The predictor line is plotted on the lower chart. The algorithm is supplemented by computing the slope of the predictor line using a 2nd order accurate finite difference expression. The predictor line is colored green when its slope > 0 and red when its slope < 0.

FROM THE ARCHIVES: JUN 2023​

Put to Call Ratio Correlation​

samer800 said: This indicator is very simple. It pulls the data from the index and runs a correlation assessment against whichever ticker you are on. Its helpful to correlate with indices such as SPY, IWM and QQQ, but I have had success correlating with individual tickers such as NVDA and AMD.