Futures Trader's Cheat Sheet for ThinkorSwim

[BenTen]

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

#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));

Shareable Link

https://tos.mx/VU2pQt

 

[Billions]

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

 

[BenTen]

@Billions Maybe this? https://usethinkscript.com/threads/futures-traders-cheat-sheet-for-thinkorswim.268/

 

[Billions]

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

 

[BenTen]

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

 

[Billions]

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

Ok yes I see it now thank you! I love this group always helpful.

 

[StocKameleon]

@BenTen Might be helpful to include required capital as well.

 

[Billions]

@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]

@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 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]

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]

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]

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.

 

[Billions]

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.

Ok Thanks

 

[BenTen]

@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.

 

[BWiz]

@BenTen found a guy on YouTube claiming this indicator as his own. Looks like he is using it to promote his website. His YouTube page name Jason Ramus. Just letting you know in case you want to report his page for copyright issues since it belongs to you.

 

[BenTen]

@BWiz Thank you for letting me know. This is actually not my script either. It was shared in the Universe of ThinkScript a long time ago. I don't know who the original author is.

 

[json12]

hello, this might be super simple but I can't seem to figure out how to add tick value as one of the columns in my FUTURES watchlist.

Current code:

#TickVal
def TickVal = TickValue();
AddLabel(yes, TickVal);

But this is not allowing me to choose

 

[MerryDay]

hello, this might be super simple but I can't seem to figure out how to add tick value as one of the columns in my FUTURES watchlist.

Current code:

#TickVal
def TickVal = TickValue();
AddLabel(yes, TickVal);

But this is not allowing me to choose

I moved your post to this thread. You will find that you can modify the label in the top post to meet your needs