Scroll down to check out this week's must reads, carefully selected by uTS Moderators!
Market Structure Oscillator
samer800 said:The Market Structure Oscillator indicator analyzes and synthesizes short-term, intermediate-term, and long-term market structure shifts and breaks, visualizing the output as oscillators of real-time market structures.
The oscillator presentation of the detected market structures helps traders visualize trend momentum and strength, identifying potential trend reversals, and providing different perspectives to enhance the analysis of classic market structures.
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https://usethinkscript.com/threads/market-structure-oscillator-luxalgo-for-thinkorswim.19340/
Four Moving Average Crossovers
Huddy1955 said:I've been using TOS for quite awhile, and I like to see MA cross overs on the chart...but it seemed a bit bulky to keep adding MA's then the crossovers for each.
Here's what, I think, is a bit of a short cut and allows for 4 different MA's to be plotted (using simple, exponential, weighted, and hull types) with the ability to allow any of the MA's to show arrows when there is a MA cross.
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https://usethinkscript.com/threads/four-moving-average-crossovers-for-thinkorswim.21030/
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BTD Clouds
FateOwnzYou said:This is Similar to the BTD channels that I had posted here before, except those delt with multiple TimeFrames, these Clouds are made by using multiple BTD Lengths, Just like BenTen's conservative version of the BTD. Shoutout to Chewie76 who came up with the idea for the multiple lengths and adding clouds (good stuff man).
It acts very similar to BenTen's conservative version, but there are some advantages of the clouds.
Some key takeaways from analyzing how it reacts to price:
It will show you a bearish or bullish sentiment by which cloud is open at the time (Green = Bullish, Red = Bearish)...
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https://usethinkscript.com/threads/btd-clouds.4167/
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Laguerre True Range
whoDAT said:J. Welles Wilder's Average True Range is a fantastic measure of volatility. Its an smoothed average - typically a 14 period moving average using Wilder's smoothing method.
Laguerre filters are also fast-acting methods to smooth inputs. John Eulers described a fast Laguerre method to smooth financial market data in his article entitled "Time Warp - Without Space Travel". Speed is good; speed with market data is fast money.
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https://usethinkscript.com/threads/laguerre-true-range-for-thinkorswim.21005/
FROM THE ARCHIVES |
Buy And Sell Price Pressure Average
Jman831 said:This is another kind of average I made that's based on a similar concept of the Buy And Sell Volume Pressure indicators I've made, minus the volume. It strictly uses price data and is used as an average on the chart. If you'd like to understand how it works, please refer to the code.
It's a pretty short and simple code. I have the default length of the average set to 18, but I prefer to use two of this kind of average, one with a length of 24, and one with a length of 54, at least on the SPY.
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https://usethinkscript.com/threads/buy-and-sell-price-pressure-average-for-thinkorswim.12489/
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