Scroll down to check out this week's must reads, carefully selected by uTS Moderators!
RSI Engulfing with TDI Filter
TRADERSAM said:Here’s another indicator I converted today and thought I’d share with the community. I’ve been working on translating more tools from TradingView into Thinkorswim, and this one felt worth bringing over. If anyone has suggestions or improvements, I’m always open to feedback and learning more.
NOTE: I did switch the background shading to labels, since TOS background fills can be a little intense.
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https://usethinkscript.com/threads/...lter-wizardoflittleelm-for-thinkorswim.21787/
I have reached the end of the World and see the place I started
antwerks said:I have reached MY answer to an important question, and I am not alone in asking it — many experienced traders here on this site eventually reach this exact realization,
Most indicators are derived from the same data (price and volume), and many are just variations of each other — meaning they tend to behave similarly, especially during the same market regimes.
I have written or adjusted over 200 scripts in the 2 years I have started using TOS. I have in theory made a “sandwich” about as many ways there is to make a “sandwich” and I have come to realize, even though one may taste better to me than others, that they are all the same “sandwich”.
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https://usethinkscript.com/threads/...see-the-place-i-started-in-thinkorswim.21351/
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Profit Prophet Bands
chewie76 said:I created this indicator using ATR and project the bands into the future by 5 bars. Anytime price goes outside these bands, expect a snap back. Below is a 4 hour chart of NQ. Color bars are green above the yellow middle line, and red below the middle line. This works on all timeframes.
This shows excellent areas where price is over extended. The best part is that the bands are projected into the future, so you get excellent take profit areas.
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https://usethinkscript.com/threads/profit-prophet-bands.21813/
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WaveTrend Overlay
TRADERSAM said:ScalpingTrend Buy/Sell is a simple and effective buy/sell indicator that works directly on the price chart. It is based on the classic WaveTrend oscillator and focuses solely on buy/sell signals.
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https://usethinkscript.com/threads/wavetrend-overlay-for-thinkorswim.21776/
FROM THE ARCHIVES |
Excellent ADX
DWA42 shared:The Excellent ADX indicator helps you catch pivot/pullback signals based on green, red, and blue lines. Each such signal is highlighted as a green (buy) or red (sell) dot on the plot. The size of the dot represents the strength of the signal. You can also check the position of green and red lines from each other to determine the trend direction and the place where it has been changed.
The Excellent ADX indicator helps you there too. It highlights the trend direction by the background-color, so you'll never miss it! The Excellent ADX good compliance with the Price Channel indicator built for the same length. You can use them together to be on a trend wave always!
Read more
https://usethinkscript.com/threads/excellent-adx-for-thinkorswim.14891/
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