Trend Reversal Indicator:
Read through this thread for answers to everything that you ever wanted to know about the Trend Reversal Indicator
https://usethinkscript.com/threads/trend-reversal-indicator-with-signals-for-thinkorswim.183/
PLEASE NOTE: THIS INDICATOR REPAINTS
Because repainters are such prolific liars, these studies should ONLY be used to make entry by traders proficient in using them in correlation with price action, candlestick patterns, a disciplined stop-loss plan, and the fortitude to weather the losses that come with the false signals.
Read more:
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833
Continue reading for answers to your most pressing questions.
Trend Reversal Indicator
Caveat: Scripts that repaint should NOT be used in Scans, Watchlists, Alerts, Conditional Orders or Backtesting Strategies.
a. The script will fire on a false signal. The signal will then disappear. You will think the script is broken.
b. The script didn't fire on the signal. That is because it wasn't there at that time! It was painted on afterward. You will think the script is broken.
Scalpers scan for one of the other indicators in their tool box
read more:
https://usethinkscript.com/threads/price-action-toolbox-for-thinkorswim.10747/
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833
Day traders use momentum and trend indicators to find reversals.
Yes, all the momentum and trend indicators are scannable for day trading.
Read through this thread for answers to everything that you ever wanted to know about the Trend Reversal Indicator
https://usethinkscript.com/threads/trend-reversal-indicator-with-signals-for-thinkorswim.183/
PLEASE NOTE: THIS INDICATOR REPAINTS
Because repainters are such prolific liars, these studies should ONLY be used to make entry by traders proficient in using them in correlation with price action, candlestick patterns, a disciplined stop-loss plan, and the fortitude to weather the losses that come with the false signals.
Read more:
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833
Continue reading for answers to your most pressing questions.
Trend Reversal Indicator
Caveat: Scripts that repaint should NOT be used in Scans, Watchlists, Alerts, Conditional Orders or Backtesting Strategies.
a. The script will fire on a false signal. The signal will then disappear. You will think the script is broken.
b. The script didn't fire on the signal. That is because it wasn't there at that time! It was painted on afterward. You will think the script is broken.
Scalpers scan for one of the other indicators in their tool box
read more:
https://usethinkscript.com/threads/price-action-toolbox-for-thinkorswim.10747/
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833
Day traders use momentum and trend indicators to find reversals.
Yes, all the momentum and trend indicators are scannable for day trading.
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