Scroll down to check out this week's must reads, carefully selected by uTS Moderators!
Range Filtered Trend Signals
chewie76 said:This is my conversion of the Range Filtered Trend Signals that gives entry signals and profit target levels. Perfect fit for people who want to maximize their profits. It also offers band levels that you can set stop losses that are still profitable. This is a trend indicator where green candles are an uptrend and red candles are a downtrend. Any gray area is a ranging market and should not be traded.
The indicator plots a cyan or magenta dot when a trend breakout takes place. That is your entry. The far white bands are max profit. Take your profits when price hits the far bands if not sooner. Note that price can extend past the white lines in massive moves, especially at lower timeframes...
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https://usethinkscript.com/threads/range-filtered-trend-signals-for-thinkorswim.21519/
Momentum Bias Index
doogster7 said:This is designed to provide traders with a powerful tool for assessing market momentum bias. The indicator calculates the positive and negative bias of momentum to gauge which one is greater to determine the trend.
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https://usethinkscript.com/threads/momentum-bias-index-algoalpha-for-thinkorswim.21523/
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Implied Volatility Rev
rewardiaz said:For the past two years, I’ve been breaking the last few neurons in my brain trying to incorporate Implied Volatility (IV) into my gameplay. Now, with the help of the new study created by MerryDay, I’ve developed an IV-based study to better understand what I call the “Current Situation.”
What do I mean by Current Situation? For that, we need to dive deeper into what IV is and why it matters.
Short answer: IV is the market’s real-time price of future uncertainty. It reflects what traders are willing to pay now for protection or convexity later. That makes it a powerful timing and risk gauge, especially when it comes to spotting potential reversals.
Below is the indicator in action. Whenever IV rises above 2, this means implied volatility is more than 2x the standard deviation. I call this “Full Fear Mode” — and at that point you usually see either a major downtrend or money being washed out of the market...
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https://usethinkscript.com/threads/implied-volatility-rev.21499/
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Adaptive CCI
Sesqui said:Here is a script that uses the EhlersAutoCorrelationPeriodogram to make the Commodity Channel Index (CCI) adaptive so that it uses the dominant market cycle, eliminating any doubt that its length is set right. Some traders recommend using 1/3*cycle length for the period, so an input has been included and is currently set to 1/3, however you can change it to any acceptable value.
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https://usethinkscript.com/threads/adaptive-cci-for-thinkorswim.21509/
FROM THE ARCHIVES |
TI_MarketPulse Scan, Label, Alerts, MTF
shanc said:If you’ve ever wondered why your bullish trades keep getting wrecked in a choppy market, or why your puts expire worthless during strong uptrends, you’re not alone. Most traders make the mistake of using the same strategies regardless of market conditions. The Market Pulse indicator fixes this by telling you exactly what type of market you’re trading in.
The biggest mistake? Fighting the stage. I've seen traders buying calls during clear deceleration phases because "the chart looks good." The chart might look good, but the market structure is telling you something different.
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https://usethinkscript.com/threads/ti_marketpulse-scan-label-alerts-mtf.2668/
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