Futures Trader's Cheat Sheet for ThinkorSwim

BenTen

BenTen

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This study is a "cheat sheet" of labels for your futures chart. It shows the tick size, gain/loss for a 1 tick move in the futures price, the multiplier or per share equivalent for 1 contract, and the risk/max loss for 1 contract.
I thought this indicator may be helpful for beginners who just dabble into Futures trading.



thinkScript Code

Code:
#Futures contract information
Declare upper;
input Label_Color_Choice = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};

def multiplier = TickValue() * (1 / TickSize());

AddLabel(1, "Tick Size =  " + TickSize() + " ... Tick Value =  " + AsDollars(TickValue()) + " ... 1-lot share equivalent = " + multiplier + " shares" + " ... Risk in 1 futures contract =  " + AsDollars(close *multiplier), GetColor(Label_Color_Choice));

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Billions

Billions

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How do you get that green bar on top what is the code? Thanks in advance

Hey @BenTen



I bought at the border of Bull and Bear Zone, Heikin candles. Supertrend signal was delayed, doesn't appear until 3-4 bars later.
Should I treat the upper line of Bull Zone as resistance too? I exited this trade once it ranges at that upper line.
 
Billions

Billions

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@BenTen on the top of PlayStations chart it says tick size etc. in a green bar
 
Billions

Billions

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@BenTen Thats it thank you! how do I get different color?
 
BenTen

BenTen

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@Billions In the indicator's settings you get to pick your color.
 
Billions

Billions

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@BenTen This might be a dumb question Where do I change the color and how in this script?
#HINT: This study is a "cheat sheet" of labels for your futures chart. \n It shows the tick size, \n gain/loss for a 1 tick move in the futures price, \n the multiplier or per share equivalent for 1 contract, and \n the risk/max loss for 1 contract.

Declare upper;
input Label_Color_Choice = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};

def multiplier = TickValue() * (1 / TickSize());

AddLabel(1, "Tick Size = " + TickSize() + " ... Tick Value = " + AsDollars(TickValue()) + " ... 1-lot share equivalent = " + multiplier + " shares" + " ... Risk in 1 futures contract = " + AsDollars(close *multiplier), GetColor(Label_Color_Choice));
 
markos

markos

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@Billions thinkorSwim offers free platform tours. Have you had yours? Please call them to set one up.
Write down 10 questions so that you can have things that matter to you addressed.
TDAmeritrade has piles of videos on you tube as well. Please check there.
 
Billions

Billions

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@Billions thinkorSwim offers free platform tours. Have you had yours? Please call them to set one up.
Write down 10 questions so that you can have things that matter to you addressed.
TDAmeritrade has piles of videos on you tube as well. Please check there.
I have just not sure about changing this color not a big deal I will figure it out Thanks!
 
markos

markos

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Open the study, click the gear on the right side, an input box should be there with a pull down menu that will have all the colors.
 
Billions

Billions

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Open the study, click the gear on the right side, an input box should be there with a pull down menu that will have all the colors.
I saw that it just get highlighted red when I do it its ok thanks
 
markos

markos

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I saw that it just get highlighted red when I do it its ok thanks
If you saw Red Highlight that means something is wrong. Please call support if someone else doesn't come along to help after a while.
 
BenTen

BenTen

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@Billions As I have previously mentioned, you can quickly change the color background via the indicator's settings page. There is no need to modify anything in the code.

 

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