Scroll down to check out this week's must reads, carefully selected by uTS Moderators!
Smoothed RSX Indicator
cando13579 said:The Smoothed RSX Indicator is an advanced momentum oscillator designed to measure trend strength, momentum direction, and exhaustion with significantly reduced noise compared to standard RSI-based tools.
It combines:
RSX (Relative Strength eXtended) – a refined RSI variant with superior smoothness and responsiveness
Adaptive Correlation-Based Smoothing – a dynamic filter that adjusts smoothing strength based on volatility and directional stability
The result is a clean, stable oscillator that reacts quickly to real momentum shifts while filtering out market noise.
Read more
https://usethinkscript.com/threads/smoothed-rsx-indicator-for-thinkorswim.22164/
Market Snapshot
atcsam asked:Market Snapshot — A Clean, Concise Read of Market Tone
If you want the market to make sense at a glance, this is the snapshot I built for that.
Most “market watch” scripts dump data.
This one gives you a clear, narrative snapshot of what the market is actually doing — in real time, without the noise.
Read more
https://usethinkscript.com/threads/market-snapshot-for-thinkorswim.22167/
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Put and Call score for best option strike to sell
antwerks said:These two custom columns turn the TOS option chain into a strike-ranking tool for selling premium.
Instead of manually evaluating every strike, the script calculates a score (0–100) for each option based on:
• Delta (risk level)
• Premium yield
• Liquidity (open interest & volume)
• Premium size
The result is a color-coded heatmap directly in the option chain.
Color Meaning
Bright Green → Excellent premium sell candidate
Green → Strong candidate
Yellow → Acceptable
Orange → Aggressive / higher risk
Red → Avoid
Read more
https://usethinkscript.com/threads/put-and-call-score-for-best-option-strike-to-sell.22206/
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Uptrick: Volume Weighted Bands
chewie76 shared:This indicator, Uptrick: Volume Weighted Bands, overlays dynamic, volume-informed trend channels directly on the chart.
By fusing price and volume data through volume-weighted and exponential moving averages, the script forms a core trend line with adaptive bandwidth controlled by volatility.
It is designed to help traders identify trend direction, breakout entries, and extended conditions that may warrant take-profits or pullback re-entries.
Read more
https://usethinkscript.com/threads/uptrick-volume-weighted-bands-for-thinkorswim.22234/
FROM THE ARCHIVES |
Hima Reddy RSI Power Zones Indicator
BenTen shared:The script paints fixed RSI zones so you always know which side controls momentum. When RSI pushes into the bull resistance zone (80–90), you’re looking at strength that refuses to fade; pullbacks usually get bought. When RSI holds the bull support zone (40–50), buyers defend every dip and the trend stays intact. When RSI stalls in the bear resistance zone (55–65), rallies fail and sellers lean on strength. When RSI sinks into the bear support zone (20–30), weakness persists and bounces fade fast.
The indicator doesn’t predict. It classifies. It tells you which side has control and whether a move is continuation or exhaustion.
Read more
https://usethinkscript.com/threads/hima-reddy-rsi-power-zones-indicator-for-thinkorswim.598/
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