Scroll down to check out this week's must reads, carefully selected by uTS Moderators!
Price Memory Trend
chewie76 said:Price Memory Trend is a custom indicator designed to detect directional shifts and volatility changes using a non-traditional price memory approach. Unlike moving average systems, it builds a dynamic memory of price that adapts gradually over time, allowing it to detect significant deviations and trend transitions with reduced noise.
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https://usethinkscript.com/threads/price-memory-trend-for-thinkorswim.22069/
Near Zero Lag Williams Alligator
Sesqui asked:I read somewhere that one of the cons of using Williams Alligator is that it is a lagging indicator based on smoothed moving averages, causing delayed entries and exits.
I really liked using the Alligator but recalling the potential for late entries got me to thinking that maybe this indicator could be made better by removing the lag.
So I replaced the moving averages with Dr Ehlers Instantaneous Trend Lines (ITrend).
But the results were not as promising as I hoped. The following screenshot shows the ITrend variant of the Williams Alligator wakes up to feed pretty much as late as the standard alligator does.
The second screenshot shows the standard Williams Alligator applied to the same data, missing the opening wave entirely.
Perhaps there is a better way to reduce the lag...
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https://usethinkscript.com/threads/near-zero-lag-williams-alligator-for-thinkorswim.22067/
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Enviromental Gauge
useThinkScript said:This tool is not a signal generator.
This tool classifies the intraday environment so you know whether the setup forming has the structure to support it or the messiness to ruin it.
The script shines on clean breakouts, controlled reversals, structural stable names, earnings runners, and momentum continuation windows, and trend days — the environments where structure behaves and the engines actually matter.
It will look “wrong” in the first 1–10 minutes after the open, on low‑float junk, during midday chop, inside news‑algo spikes, on illiquid tickers, and during parabolic blow‑offs — the environments where microstructure breaks down and nothing behaves cleanly...
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https://usethinkscript.com/threads/enviromental-gauge.22068/
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Finding the Right Fishing Hole To Be A Better Stock Picker
justAnotherTrader shared:I want to share with you my style of trading. Its a sort of hybrid from many of the great traders, and it does pretty well for my account. At the micro level, I think in terms of expectations trading.
The term expectations investing was popularized in the book written by Michael Mauboussin. His theory takes a DCF and turns it on its head. Instead of trying to forecast future cashflows for a company and bringing them back to today by discounting them, he uses the current price of a stock and tries to figure out what growth assumptions are embedded into the price. This helps him to gauge the expectations of the market for the equity, and then he can decide if he agrees or disagrees.
In practice, there is one metric that anyone can get very quickly to gauge the expectations of the market on a stock, and that metric is called the FCF Yield. The higher the FCF yield, the lower the expectations the market has put on the stock. Let me give you two examples.
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https://usethinkscript.com/threads/finding-the-right-fishing-hole-to-be-a-better-stock-picker.22058/
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Trade Volume Delta Indicator
anycolour shared:This indicator gives you a sharper read on intraday intent by pairing two simple signals into one clean story: the 5‑minute 20SMA provides trend direction. Don't live home without it.
And the 1‑minute Cumulative Volume Delta shows you when real participation hits the tape. When those two line up, the noise drops away — you can actually see buyers defending a level or sellers pressing an advantage before price makes it obvious. It’s a fast, intuitive way to spot momentum turning points without cluttering your chart.
Once you feel how the CVD behaves around the 20SMA, you’ll never look at short‑term trend confirmation the same way.
Read more
https://usethinkscript.com/threads/trade-volume-delta-indicator-for-thinkorswim.524/
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