Bollinger Bands and Stochastic Scalping Indicator for ThinkorSwim

[MerryDay]

Hello! Can this be used on a 1m or 47t chart?

Thanks!
Lam

There is nothing in the code that prevents this script from running on a 1m or 47t chart.
Try the above original version and compare to a version where you change the script lengths from 12 to 7.

 

[mojo321]

Hi all, I'm new here. I am still paper trading this indicator on thinkorswim. I'm in the 1m,5m,15m charts on /MNQ. Day 1= $216. Day 2= $269. So far so good! I will update the thread as I continue to paper trade it. I should mention, I am only using the indicator for entry, and directional bias. I only trade 1 to 3 contracts, and never go against the direction. (having read Bird Watching in Lion Country years ago - LOL)

 

[SteelBusNole]

I'm not seeing any arrows when I brought in the coding. Thought I might see arrows on the 2 min charts for SGE, MULN and/or TCBP.

 

[useThinkScript]

Technical chart indicators assume that stock prices are cyclical.
That it is possible to buy when price is in the lower zone of the cycle and sell at high.
Oscillators are created to oscillate between those highs and lows based on price, momentum, and other factors.

The Bollinger Bands and Stochastic Scalping Indicator defines the 'low' as:
below the orange Bollinger band in the upper chart
and at the bottom of the various oscillators in the lower charts.

Here is an example:

@SteelBusNole
Random price pops such as seen when SGE reported earnings were not part of a cyclical move and would not result in a signal using a cyclical indicator: