Trust The Levels - Trade Options In ThinkOrSwim

Thanks Metal! Do you, or anyone know if this works well on other timeframes?
Also, I prefer buying and selling shares as opposed to options contracts. Is there an advantage to using options with this strategy besides the obvious ones, instead of shares?

Thanks in advance.
Trading shares work great with this strategy. I know a couple of ppl that trade only shares and use this successfully. Some ppl have said they are doing well using it on the 5m TF.
 
Todays Trades--

MSTR:
1731547590435.png


PLTR:
1731547705419.png


SPX
1731547887301.png

1731548053694.png

BA
1731548244579.png
 
Can this strategy be used for Futures and Forex Trading? I'm assuming I would have to change the times in the settings.
 
Can this strategy be used for Futures and Forex Trading? I'm assuming I would have to change the times in the settings.
Yes! Traders are using it for futures. Not sure about Forex, but I do not see why not. It basically gives you excellent entries as well as target levels.
 
Thinkscript uses Eastern Times in coding the Anchored LRC.
For traders to have the same times that you do with the setting of 0400 and 0939 and LRC lines, they do not have to change the these times, when they use local times other than Eastern times in their chart settings.
When you use 0400, which is the start of trading for the day, then for example, in the Central time zone, to get the LRC lines to match your lines, these lines need to start at 0300 Central time. which these will automatically plot using the code as is.
Hope this helps!
Hi Sleepy, what would the settings be for Pacific time trading? Thanks..
 
The Anchored LRC starts at 4am eastern std and ends at 9:29 1 minute before market open. If you are in a different time frame, you will need to adjust to your pre market start and 1 min before open.
Hi METAL

Is it possible to repeatedly display the LRC on each day throughout the chart rather than just the current day from 4:00 - 9:30? Appreciate it's bit messy but curious to see how it behaves day after day..

Thanks again for all your hard work.
 
hi... I have a newbie questions

1) what is the line that follows the price that changes from green to red and green again when the price is on an uptrend?
2) what is the EMAnumber for the yellow line?
3) I can't get my green dotten line to expand to look like yours, what am I missing? I change the multiplier from 2 to for but I still have a lot of dotted lines... trying to learn how to use this strategy....

Thank you in advance for your reply.
Screenshot 2024-11-30 at 7.39.05 PM.png
 
Hi METAL

Is it possible to repeatedly display the LRC on each day throughout the chart rather than just the current day from 4:00 - 9:30? Appreciate it's bit messy but curious to see how it behaves day after day..

Thanks again for all your hard work.
I believe it would be possible, however, you would need to manually place the date and times for each day back that you would like to apply the Anchored LRC's.
 
hi... I have a newbie questions

1) what is the line that follows the price that changes from green to red and green again when the price is on an uptrend?
2) what is the EMAnumber for the yellow line?
3) I can't get my green dotten line to expand to look like yours, what am I missing? I change the multiplier from 2 to for but I still have a lot of dotted lines... trying to learn how to use this strategy....

Thank you in advance for your reply.
View attachment 23454
Stan,
Check the multiplier in the settings. I typically start with the multiplier @1 but will adjust it as the day goes on in order to provide levels further out. Mine may have been at a multiplier of 2.
 

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

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
313 Online
Create Post

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.
Back
Top