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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