Scroll down to check out this week's must reads, carefully selected by uTS Moderators!
Tennis Ball Action
Sai said:Inspired by Mark Minervini's sell rules in "Think and Trade Like a Champion".
Used to determine if a stock is behaving well after a breakout
Used to determine when it might by prudent to reduce a position or sell
Used as a visual aid, but based purely off price and volume action
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https://usethinkscript.com/threads/tennis-ball-action-for-thinkorswim.17764/
Normalized Price Volume Trend Indicator (PVT)
wpnet50 asked:The oscillator version of the Price Volume Trend indicator (PVT) can be considered as a leading indicator of future price movements. The PVT Indicator is similar to the On Balance Volume indicator as it is also used to measure the strength of a trend.
The difference between the OBV and the PVT is that where the OBV adds all volumes when price achieves higher daily closes and subtracts them when price registers a lower daily close, the PVT adds or subtracts only a portion of the volume from the cumulative total in relation to a percentage change in price
The general market consensus is that this difference enables the PVT to more accurately represent money flow volumes in and out of a stock or commodity.
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https://usethinkscript.com/threads/...me-trend-indicator-pvt-for-thinkorswim.21927/
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Fusion - Unified Signa
dap711 said:A multi-factor trading intent detector combining MACD, RSI, ATR, VWAP, Volume Pressure, and 12 micro-signals into a single adaptive score.
Fusion is a lower study designed to extract overall market intent — bullish vs bearish — by aggregating multiple institutional-style signals into one unified momentum score. Instead of relying on a single indicator (e.g., MACD crossovers or RSI levels), Fusion blends price action, volume dynamics, volatility behavior, mean reversion, breakout strength, and sentiment proxies into a weighted composite engine.
What Fusion Actually Does
Fusion continuously evaluates 12 key behaviors, each designed to detect subtle intent shifts. These include:
ThemeExample Signals UsedMomentumMACD slope divergence, EMA8 directionRelative strengthSymbol vs RS benchmark (e.g., QQQ)Volume convictionVolume pressure vs price movementVWAP logicRejections, slope shifts, POC proxiesVolatility contextATR% direction and trend regimeLiquidity trapsStop-hunts & opening drive failuresMarket transitionsRange/volume regime shiftsOBV divergenceVolume flow vs price trend
Each signal is optionally toggleable, individually weighted, and combined into a running “hidden intent” composite, smoothed via EMA.
Read more
https://usethinkscript.com/threads/fusion-unified-signal-for-thinkorswim.21711/
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Ehlers Center Of Gravity Oscillator
WildTiger99 shared:This is John Ehlers' Center of Gravity Oscillator. Not the COG with bands and fibs. Just a simple plain vanilla oscillator that sits below the chart in ToS.
The Center of Gravity Oscillator was created by John Ehlers (Cybernetic Analysis For Stocks And Futures pg 49) and this provides a pretty accurate way to see how the stock is trending.
If the indicator stays above 0 then the stock is in a pretty strong uptrend and if it stays below 0 then the stock is in a pretty strong downtrend.
Buy when the indicator changes from red to green and sell when it changes from green to red.
Read more
https://usethinkscript.com/threads/ehlers-center-of-gravity-oscillator-cc-for-thinkorswim.19801/
FROM THE ARCHIVES |
Heiken Ashi High/Low with Smoothed HA
samer800 shared:Heiken Ashi High/Low with Smoothed HA can be used:
Detecting Short/Long term trend direction
Dynamic support/resistance, not just a line, but it has a height
Trailing stop
Trend reversal detection, when price cross above/below Heiken Ashi candle
Read more
https://usethinkscript.com/threads/heiken-ashi-high-low-with-smoothed-ha-for-thinkorswim.13249/
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