Scroll down to check out this week's must reads, carefully selected by uTS Moderators!
Range Oscillator Conversion
chewie76 said:Range Oscillator (Zeiierman) is a dynamic market oscillator designed to visualize how far the price is trading relative to its equilibrium range
This is a conversion where I added a histogram to indicate the candle's strength or weakness. Over or under 200, are extreme levels
Instead of relying on traditional overbought/oversold thresholds, it uses adaptive range detection and heatmap coloring to reveal where price is trading within a volatility-adjusted band.
The oscillator maps market movement as a heat zone, highlighting when the price approaches the upper or lower range boundaries and signaling potential breakout or mean-reversion conditions.
Read more
https://usethinkscript.com/threads/range-oscillator-conversion-for-thinkorswim.21775/
Trading Checklist (Step-by-Step)
antwerks said:Trading Checklist (Step-by-Step)
1. Stock Selection (WHAT to Trade)
- ☐ Average daily volume > 2M shares
- ☐ Options chain liquid (tight bid/ask < $0.20)
- ☐ ATR% > 2% (stock actually moves)
- ☐ IV Rank between 30–80 (not dead, not extreme)
- ☐ Catalyst present (earnings, breakout, news, macro event)
- ☐ Institutional activity (large OI near ATM strikes, unusual options flow)
...
Read more
https://usethinkscript.com/threads/trading-checklist-step-by-step-for-thinkorswim.21628/
VIP SUBSCRIBERS ONLY |
VWAP Enhanced
antwerks said:I have been using VWAP forever it seems but as I use it I find myself validating it more and more off other signals that effect the interpretation.
Here is an attempt to enhance VWAP with the original CS Daily VWAP with ±1σ and ±2σ bands, plus value-zone shading, Optional Anchored VWAP, Volume-intensity coloring of the VWAP line showing normal and high volume, Automatic Fair Value Gaps (FVGs) (bullish + bearish) using the chart timeframe and Subtle confluence dot when VWAP sits inside an active FVG. Below is a table of elements and definitions for what you would see in the chart at the appropriate times.
Read more
https://usethinkscript.com/threads/vwap-enhanced.21762/
Join our VIP Members Club to get access to our premium indicators including Buy The Dip, Advanced Market Moves and Take Profit.
Your VIP membership includes:
✓Full access to public & private forums
✓No Ads
✓Priority community support
✓Unlimited Postings
✓Premium thinkorswim indicators
✓Exclusive strategies, scanners, add-ons
✓Discord chatroom with Trade Alerts
VIP Membership
AGAIG Daytrading the VWAP
csricksdds said:First let’s look at Day Trading: Day Trading is where we buy/sell options within the same day usually in a short period of time which may be within minutes, or hours. An individual can day trade any stock or ETF desired, and we do not need to use today’s expiration in order to successfully day trade. In day trading we are looking for movements towards, and/or away from the mean (average price). One of the best and most accurate average prices of a security is considered to be the VWAP.
The VWAP (volume weighted average price) is a technical indicator used on intraday charts because it resets at the start of the morning session and continues throughout the day.
Read more
https://usethinkscript.com/threads/agaig-daytrading-the-vwap-in-thinkorswim.19055/
FROM THE ARCHIVES |
Impulse MACD [LazyBear]
kelvin shared:Impulse MACD is a modified MACD, formed by filtering out the values in a MA range (region between MAs of high and low), thereby reducing whipsaw typical in a sideways market. This is usually plotted as histogram. This also plots the traditional histogram (MACD - Signal), to help in finding entries/exits.
Use this like a traditional MACD (Zero line crossing or Signal crossing).
Read more
https://usethinkscript.com/threads/impulse-macd-lazybear-for-thinkorswim.13333/
Last edited by a moderator:
