$TICK and $ADSPD labels with alerts color changes for ThinkorSwim

Brain Monkey

New member
I cobbled this together from a few scripts I found on here. The main one was originally written by @tomsk. There are a few other labels on here I find useful.

Code:
#$TICK LABEL WITH ALERTS
# I COBBLED THIS TOGETHER FROM A FEW SCRIPTS I FOUND.
# THE ORIGINAL TICK AND ADD SCRIPT WAS WRITTEN BY TOMSK.
# CREDIT:
# TICK and AD Label
# tomsk
# 11.15.2019

declare upper;

input TickSymb = "$TICK";
input ADSymb = "$ADSPD";

def TICKS = if !IsNaN(close(TickSymb)) then close(TickSymb) else TICKS[1];
def AD = if !IsNaN(close(ADSymb)) then close(ADSymb) else AD[1];

#def Data = volume(period = AggregationPeriod.DAY);

#AddLabel(yes,"Vol: " + Data, Color.green);
#AddLabel(yes,"Per Vol: " + volume, Color.LIGHT_GREEN);

#AddLabel(yes, "Open_int: " + Open_interest(period = AggregationPeriod.DAY), Color.CYAN );

#AddLabel(yes, "Imp_Vol: " + IMp_volatility, Color.light_gray );
#AddLabel(yes, "VWAP: " + vwap, Color.WHITE );


AddLabel(1, " TICK = " + TICKS, if TICKS < -550 then Color.RED else if TICKS > 550 then Color.GREEN else if between(TICKS, -450, 450) then Color.LIGHT_GRAY else Color.Yellow);


AddLabel(1, " ADD = " + AD, if AD < -350 then Color.RED else if AD > 350 then Color.GREEN else if between(AD, -250, 250) then Color.GRAY else Color.Yellow);


# Alerts:

def alerttrigger = if (TICKS >= 1000 ) or (TICKS <= -1000) then 1 else 0; #replace the 1 with your definition

# BLOCK CODE BELOW
input alerttext = "OH SH*T!!!";
input UseAlerts = {false, default true};
input AlertType = {default "BAR", "ONCE", "TICK"};
def at = AlertType;
input AlertSound = {"Bell", "Chimes", default "Ding", "NoSound", "Ring"};
Alert(alerttrigger and UseAlerts, alerttext, if at == 1 then Alert.ONCE else if at == 2 then Alert.TICK else Alert.BAR, AlertSound);
 
can someone explain how to use tick and ADSPD in trading? how to interpret it?

The idea is that trend is your friend.
You want to trade in the same direction as the market and the security.

The $ADSPD tells you the direction of the market and how strong that direction is.
The $tick tells you the current direction and strength of the stock.

ADSPD (Advance/Decline Line) is the net difference between advancing and declining stocks. A reading of 250+ is very bullish, while over 300 indicates extreme bullishness. Conversely, readings below -250 are very bearish, with below -300 being extremely bearish.

Observing the A/D Line moving consistently higher (+200, +300, +400) at market open signals market strength. However, if the market is rising while the A/D Line is falling, a divergence may indicate a market turn.

With the $tick, the explanation is the same, but at the stock level instead of the index level.
 
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