Pre-Sales Buy the dip VIP indicator question

Learnbot

Active member
I am not VIP member yet, however, thinking about subscribing to your discord and obtaining the "buy the dip" indicator. I just wanted to check something before I subscribe to VIP, would you be able to post an example of 1min chart for TSLA, Apple, ZM or whatever else stock you see fit (not penny stocks plz since I am not that educated to trade small caps yet). I wanted to see if Buy the Dip works for day trading as well as swing.

Edit: This thread has gotten very long. Added some info below for easier access to information.
Summary:
https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/page-23#post-89427

Helpful links for anyone interested in seeing how VIP members are using the BTD indicator to trade:
Customer's reviews:
More reviews can be found here: https://usethinkscript.com/threads/buy-the-dip-indicator-for-thinkorswim.3553/post-34186
 
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Shinthus

Active member
2019 Donor

@Rivendial

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@pritspat

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Hey BenTen. I can't find a message function on this site so I'm replying to this message, the first one I found after snooping around for a bit. Not sure if you remember me but I was a member all the way back in 2019 and fell off the face of the earth. I hope you and the community are doing well and I'm interested in possibly joining the discord you have.
 

MerryDay

Administrative
Staff member
Staff
VIP
Lifetime
Hey BenTen. I can't find a message function on this site so I'm replying to this message, the first one I found after snooping around for a bit. Not sure if you remember me but I was a member all the way back in 2019 and fell off the face of the earth. I hope you and the community are doing well and I'm interested in possibly joining the discord you have.
Welcome back.
the forum does not have a dm capability.
the Discord is for VIP members.
Read more here: https://usethinkscript.com/p/get-vip/
 

MerryDay

Administrative
Staff member
Staff
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Lifetime
How come the price of membership has increased so much over time with little to no increase in additional VIP indicators? I imagine inflation doesn't directly affect Usethinkscript
Over a year ago, I paid the same price as it is now for VIP membership.

I believe there was an introductory price for the early subscribers.
And I think there are sales run occasionally.

As far as content, there is always something being added to the VIP forum:
https://usethinkscript.com/forums/indicators-trading-setups-charts-strategies.60/

Read more here: https://usethinkscript.com/p/get-vip/
 
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Sroo52

New member
VIP
On the Buy The Dip do you have to change the timeframe every time you switch time frame to trade? eg; BTD 5M and you are trading on 5M time frame.
Or can you just set it on 30M and trade on any lower timeframe? I hope my questions make sense. Thanks in advance
This is the upper indicator by the way.
 

anis1728

New member
VIP
Hi MerryDay,
I am a day trader wanted to improve my trading. I use TOS. I see the BTD is for long trading, I am more of a short scalping trader. Is there any indicator for the premium member to short scalping?
Thanks,
anis1728

Also does those indicators work in lower time frame? Since I do scalping as a day trader, these info is very important to me. Please provide your advice.
Thanks,
anis1728
 

MerryDay

Administrative
Staff member
Staff
VIP
Lifetime
Hi MerryDay,
I am a day trader wanted to improve my trading. I use TOS. I see the BTD is for long trading, I am more of a short scalping trader. Is there any indicator for the premium member to short scalping?
Thanks,
anis1728

Also does those indicators work in lower time frame? Since I do scalping as a day trader, these info is very important to me. Please provide your advice.
Thanks,
anis1728
The goal of higher aggregation indicators in scalping is to find impetus for entry.
That can't be found on the lower timeframes.
If you don't have room to have multiple charts, use the Buy the Dip Multi-TimeFrame (mtf). Do not set for much less than a 2hr timeframe.
Any lower and the returns become negligible.

Once you get a signal on the 2hr BTD use price action to find entry.
Price Action indicators are the only type you should be using to find entry on the 1 or 2 min chart. Lag on most of the standard indicators kills most scalps.

Read more about Price Action:
https://usethinkscript.com/threads/price-action-toolbox-for-thinkorswim.10747/
Hope this helps.
 

MerryDay

Administrative
Staff member
Staff
VIP
Lifetime
Hi MerryDay,
Can the BTD be used for shorting? If not, is there any indicator for shorting that is available for premium member?
Thanks,
anis1728
The Buy the Dip is for finding stocks which are bottoming. That would be a bad place to short.
Neither the BTD nor any of the other premium indicators are "strategies" for long or short.
They represent the best set of tools for accessing your trade.
That information, lets you choose the best opportunities to apply your strategy.
 
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Graydrake

New member
I have used a self-developed thinkscript screen on TOS for a few years, which delivers tickers from by bullish watch list that are both up trending on the 1 year chart and are at or below support on the 50% Linear Regression Channel.

This has been my historical "buy the dip" system. How does the usethinkscript Buy the Dip differ from what I have been using?

Gray
 

MerryDay

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I have used a self-developed thinkscript screen on TOS for a few years, which delivers tickers from by bullish watch list that are both up trending on the 1 year chart and are at or below support on the 50% Linear Regression Channel.

This has been my historical "buy the dip" system. How does the usethinkscript Buy the Dip differ from what I have been using?

Gray
Your basic formula for creating your corral of stocks is a sound one.
BTD would not replace your formula. It would alert to when one of those has a significant dip and might be lining up to be a buying opportunity.

Buy the Dip is an indicator based on the Synthetic VIX formula by Larry Williams.
...the VIX reflects investor fear — high readings are associated with high-volatility conditions (and market bottoms)

You can read more about the concept of VixFix through this document.
 
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MerryDay

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Last edited:

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