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Futures Market Ratio Indicator for ThinkorSwim


This one is very useful for futures traders on 15 min and daily. The way it is set now is /RTY vs /ZN because I trade /RTY and /ES, but it is a ratio indicator, so it can be set to any ratio. Generally speaking, when bonds go up index futures go down. I also use it to see a ration of /ES vs /VX. It can probably be improved with a simple moving average, because as is it is using the high/low of a 20 MA.


thinkScript Code

Rich (BB code):
declare lower;

input secondSym = "/ZN";
def div = if !IsNaN (close("/RTY")) then close("/RTY") else div[1];
def RatioQ = close (secondSym) / div;
plot Ratio = RatioQ;

#def divZ = if !IsNaN (close("/RTY")) then close("/RTY") else divZ[1];
#def RatioZ = close("/ZB") / divZ;
#plot RatioZB = RatioZ;

def RatioQH = high (secondSym) / div[20];
plot RatioH = RatioQH;

def RatioQL = low (secondSym) / div[20];
plot RatioL = RatioQL;

#AddCloud (RatioH, RatioL, color.Green, Color.RED);

AddVerticalLine(if Ratio crosses above RatioH then 1 else 0, "S", Color.RED);
AddVerticalLine(if Ratio crosses below RatioL then 1 else 0, "B", Color.GREEN);


#plot ave = data;

Ratio.DefineColor("Up", Color.Green);
Ratio.DefineColor("Down", Color.Red);
Ratio.DefineColor("Equal", Color.Yellow);
if Ratio > Ratio[1]
then Ratio.color("Up")
else if Ratio < Ratio[1]
then Ratio.color("Down")
else Ratio.color("Equal")

Shareable Link

A slightly different version of the above ratio:

Thanks @john3 for sending in the code.
Last edited:

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