$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.

# 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

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.
Last edited:

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
524 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.