SuperTrend-Squeeze-DMI Chart Setup for ThinkorSwim

[ALV]

studies attached. If you use lower timeframes, you can add the MTF indicator and adjust it for the TF's you want.
https://tos.mx/M2jhuF0

 

[mansor]

@mansor- studies attached. If you use lower timeframes, you can add the MTF indicator and adjust it for the TF's you want. Hope this help
https://tos.mx/M2jhuF0

ALV _ thanks 10x!! I didn't know we had to keep adding the same script and keep modifying mins,hours,days, wks, etc. that was breeze! Thanks again for putting up with me, I do like volume trend - that's very interesting!

 

[ALV]

Mansor,
Thanks for your share grid. Can you please let me know what does the volume dot on the bar mean?
Thanks again

Hi Mansor - Bars with higher than normal volume. A note in the study indicates the following: "A blue dot is plotted on bars that have a volume greater than input volumeGreaterPercent of the moving average for the timeframe of input volumeLength". The default volumeGreaterPercent is = 50 and the volumeLength=20 bars. I don't change defaults. Hope this help.

 

[mansor]

Hi Mansor - Bars with higher than normal volume. A note in the study indicates the following: "A blue dot is plotted on bars that have a volume greater than input volumeGreaterPercent of the moving average for the timeframe of input volumeLength". The default volumeGreaterPercent is = 50 and the volumeLength=20 bars. I don't change defaults. Hope this help.

Also just to add:

Volume doesn't always mean, that price would go up, so if you see the cyan dot, it's indicating that volume is higher 50% when compared to last 20 bars but you want to pay attention to price action also. Cyan dots appearing on bars & price falling is a good sign that it's trying to find bottom & you need to wait for reversal indicators to show entry point. IF you jump in the trade just by looking cyan dot while the price is falling, you'll be trying to catch a falling knife.

Eg: check out CGC on 1d1m chart at 2:21pm (et) price was consolidating at 16.80, then huge volume (of sellers selling at bid price instead of ask price) came in and price dropped to 16.50 at 2:30pm & you would see cyan dots at 2:22, 2:23, 2:24, 2:26, 2:28.

 

[dc2uh]

@mansor- studies attached. If you use lower timeframes, you can add the MTF indicator and adjust it for the TF's you want. Hope this help
https://tos.mx/M2jhuF0

This is super helpful. Could someone please explain what the Buyer/Seller Volume and the Price Strong/Weak are showing? thanks

 

[ALV]

This is super helpful. Could someone please explain what the Buyer/Seller Volume and the Price Strong/Weak are showing? thanks

Hi dc2uh;
Background of those labels will change depending on conditions defined in the code. If the Buying volume is 5% higher than Selling volume for the period of time defined, the background will be green for that label, otherwise will be gray. If it is the opposite, the Selling volume label will be red, otherwise will be gray.
For Price strong/weak is similar, except the conditions are related to the highs and low of the candles. You can see the details in the code.
Hope this help.