Paul Allen
New member
Afternoon TOS wizards. I've been adding/combining the TSI to my RSI lower study and using the cross as part of my trading plan. Any way I can add an audible alert on the cross? Shanks in advance.
True Strength Index / RSI Crossover
- Thread starter Paul Allen
- Start date
Solution
Lower chart indicators that display right-hand values in percentages is indicative of a ToS error message.
This means that there are multiple indicators in the chart display which are not on the same scale.
While they sometimes present a pretty picture. They are meaningless.
ToS is saying that it just shoved them together even though they have no relationship to each other.
It is not possible to find a cross between two indicators whose scales never cross.
If you search the forum for "normalized"; there are coders who have taken on the challenge of "re-scaling" indicators.
You should think twice before taking on such a coding challenge.
The results are spotty.
And the TSI and the RSI are both trend/momentum indicators...
Lower chart indicators that display right-hand values in percentages is indicative of a ToS error message.
This means that there are multiple indicators in the chart display which are not on the same scale.
While they sometimes present a pretty picture. They are meaningless.
ToS is saying that it just shoved them together even though they have no relationship to each other.
It is not possible to find a cross between two indicators whose scales never cross.
If you search the forum for "normalized"; there are coders who have taken on the challenge of "re-scaling" indicators.
You should think twice before taking on such a coding challenge.
The results are spotty.
And the TSI and the RSI are both trend/momentum indicators.
Thus, they are collinear. They are telling you the same thing; not giving you any added value.
https://usethinkscript.com/threads/...nt-to-successful-trading-in-thinkorswim.6114/
Join useThinkScript to post your question to a community of 21,000+ developers and traders.
Paul Allen
New member
TY!
Lower chart indicators that display right-hand values in percentages is indicative of a ToS error message.
This means that there are multiple indicators in the chart display which are not on the same scale.
While they sometimes present a pretty picture. They are meaningless.
ToS is saying that it just shoved them together even though they have no relationship to each other.
It is not possible to find a cross between two indicators whose scales never cross.
If you search the forum for "normalized"; there are coders who have taken on the challenge of "re-scaling" indicators.
You should think twice before taking on such a coding challenge.
The results are spotty.
And the TSI and the RSI are both trend/momentum indicators.
Thus, they are collinear. They are telling you the same thing; not giving you any added value.
https://usethinkscript.com/threads/...nt-to-successful-trading-in-thinkorswim.6114/
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
| C | True Strength Index Upper Lower Lines | Questions | 1 | |
| C | Is logic in a Switch statement evaluated if the Case is not true? | Questions | 2 | |
| M | Multi-time frame scanner true within x bars | Questions | 3 | |
| S | How to plot a true function 4 bars in a row? | Questions | 1 | |
| R | Coding multiple days of something not True | Questions | 1 |
Similar threads
-
-
Is logic in a Switch statement evaluated if the Case is not true?
- Started by ClubEleven
- Replies: 2
-
-
-
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.
- The most viewed thread:
https://usethinkscript.com/threads/repainting-trend-reversal-for-thinkorswim.183/ - Our most popular indicator:
https://usethinkscript.com/threads/buy-the-dip-indicator-for-thinkorswim.3553/ - Answers to frequently asked questions:
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/
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.