Pre-Sales VIP Questions

Learnbot

Active member
I am not VIP member yet, however, thinking about subscribing to your discord and obtaining the "buy the dip" indicator. I just wanted to check something before I subscribe to VIP, would you be able to post an example of 1min chart for TSLA, Apple, ZM or whatever else stock you see fit (not penny stocks plz since I am not that educated to trade small caps yet). I wanted to see if Buy the Dip works for day trading as well as swing.

Edit: This thread has gotten very long. Added some info below for easier access to information.
Summary:
https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/page-23#post-89427

Helpful links for anyone interested in seeing how VIP members are using the BTD indicator to trade:
Customer's reviews:
More reviews can be found here: https://usethinkscript.com/threads/buy-the-dip-indicator-for-thinkorswim.3553/post-34186
 
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Shinthus

Active member
2019 Donor
VIP

@Rivendial

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@pritspat

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Hey BenTen. I can't find a message function on this site so I'm replying to this message, the first one I found after snooping around for a bit. Not sure if you remember me but I was a member all the way back in 2019 and fell off the face of the earth. I hope you and the community are doing well and I'm interested in possibly joining the discord you have.
 

MerryDay

Administrative
Staff member
Staff
VIP
Lifetime
Hey BenTen. I can't find a message function on this site so I'm replying to this message, the first one I found after snooping around for a bit. Not sure if you remember me but I was a member all the way back in 2019 and fell off the face of the earth. I hope you and the community are doing well and I'm interested in possibly joining the discord you have.
Welcome back.
the forum does not have a dm capability.
the Discord is for VIP members.
Read more here: https://usethinkscript.com/p/get-vip/
 

MerryDay

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How come the price of membership has increased so much over time with little to no increase in additional VIP indicators? I imagine inflation doesn't directly affect Usethinkscript
Over a year ago, I paid the same price as it is now for VIP membership.

I believe there was an introductory price for the early subscribers.
And I think there are sales run occasionally.

As far as content, there is always something being added to the VIP forum:
https://usethinkscript.com/forums/indicators-trading-setups-charts-strategies.60/

Read more here: https://usethinkscript.com/p/get-vip/
 
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Sroo52

New member
VIP
On the Buy The Dip do you have to change the timeframe every time you switch time frame to trade? eg; BTD 5M and you are trading on 5M time frame.
Or can you just set it on 30M and trade on any lower timeframe? I hope my questions make sense. Thanks in advance
This is the upper indicator by the way.
 

anis1728

New member
VIP
Hi MerryDay,
I am a day trader wanted to improve my trading. I use TOS. I see the BTD is for long trading, I am more of a short scalping trader. Is there any indicator for the premium member to short scalping?
Thanks,
anis1728

Also does those indicators work in lower time frame? Since I do scalping as a day trader, these info is very important to me. Please provide your advice.
Thanks,
anis1728
 

MerryDay

Administrative
Staff member
Staff
VIP
Lifetime
Hi MerryDay,
I am a day trader wanted to improve my trading. I use TOS. I see the BTD is for long trading, I am more of a short scalping trader. Is there any indicator for the premium member to short scalping?
Thanks,
anis1728

Also does those indicators work in lower time frame? Since I do scalping as a day trader, these info is very important to me. Please provide your advice.
Thanks,
anis1728
The goal of higher aggregation indicators in scalping is to find impetus for entry.
That can't be found on the lower timeframes.
If you don't have room to have multiple charts, use the Buy the Dip Multi-TimeFrame (mtf). Do not set for much less than a 2hr timeframe.
Any lower and the returns become negligible.

Once you get a signal on the 2hr BTD use price action to find entry.
Price Action indicators are the only type you should be using to find entry on the 1 or 2 min chart. Lag on most of the standard indicators kills most scalps.

Read more about Price Action:
https://usethinkscript.com/threads/price-action-toolbox-for-thinkorswim.10747/
Hope this helps.
 

MerryDay

Administrative
Staff member
Staff
VIP
Lifetime
Hi MerryDay,
Can the BTD be used for shorting? If not, is there any indicator for shorting that is available for premium member?
Thanks,
anis1728
The Buy the Dip is for finding stocks which are bottoming. That would be a bad place to short.
Neither the BTD nor any of the other premium indicators are "strategies" for long or short.
They represent the best set of tools for accessing your trade.
That information, lets you choose the best opportunities to apply your strategy.
 
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Graydrake

New member
I have used a self-developed thinkscript screen on TOS for a few years, which delivers tickers from by bullish watch list that are both up trending on the 1 year chart and are at or below support on the 50% Linear Regression Channel.

This has been my historical "buy the dip" system. How does the usethinkscript Buy the Dip differ from what I have been using?

Gray
 

MerryDay

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Staff member
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I have used a self-developed thinkscript screen on TOS for a few years, which delivers tickers from by bullish watch list that are both up trending on the 1 year chart and are at or below support on the 50% Linear Regression Channel.

This has been my historical "buy the dip" system. How does the usethinkscript Buy the Dip differ from what I have been using?

Gray
Your basic formula for creating your corral of stocks is a sound one.
BTD would not replace your formula. It would alert to when one of those has a significant dip and might be lining up to be a buying opportunity.

Buy the Dip is an indicator based on the Synthetic VIX formula by Larry Williams.
...the VIX reflects investor fear — high readings are associated with high-volatility conditions (and market bottoms)

You can read more about the concept of VixFix through this document.
 
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MerryDay

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Pietrarie

New member
VIP
Hi Guys, I was wondering what is the benefit in using Buy The Dip premium indicator instead of using the RSI?
Is it going to make me more efficient? Is this indicator good for day trading?

Thank you.
 

MerryDay

Administrative
Staff member
Staff
VIP
Lifetime
Hi Guys, I was wondering what is the benefit in using Buy The Dip premium indicator instead of using the RSI?
Is it going to make me more efficient? Is this indicator good for day trading?

Thank you.
Yes, you can use the RSI with the Buy The Dip.

No indicator can be used in isolation. It is recommended that you use a minimum of three non-collinear indicators along with the Buy The Dip.
Some good choices: A trending/momentum indicator (this would be your RSI), a support and resistance indicator and a third of your choice (volatility, cycle or market strength).
Read more here:
https://usethinkscript.com/threads/...nt-to-successful-trading-in-thinkorswim.6114/
https://usethinkscript.com/threads/what-are-the-different-types-of-indicators-heres-one-answer.298/

The below is just one example. It uses:
Mobius Trend Pivots for Support & Resistance
VIP Market Phases for the cycle indicator
You mentioned the ToS RSI for trend / momentum (I favor the VIP IronRod so I included that also).

You will see that the BuyTheDip signaled on the below chart. I like that it is an 'early' indicator. Gives me time to verify that this equity while having a significant dip on the 10min chart, has a super strong upward trend on the monthly chart. This means the bounce will probably be strong as soon as the market turns back upwards. I also reviewed the news widget to determine that this wasn't a correction based on bad news.
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MerryDay

Administrative
Staff member
Staff
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Do you have excellent trend reversal indicators on a 5 min. and 15 min. charts?
If yes, please send a pic. of a 5 min. and 15 min. of AMD on TOS.
Thanks, Phil
Trend Reversals are repainting indicators.
There are no repainting studies on the VIP forum.

What are you looking for a picture to tell you? With Trend Reversal, all the false signals have been erased and only the perfect signals appear. All images for trend reversals charts look falsely amazing.

You do not have to pay for Trend Reversals. Free versions propagate on this forum and everywhere else, as they are the preferred-type of indicator of new retail traders, who are drawn to the appearance of these studies being the "Holy Grail".

Read more about repainting indicators
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833

Read more about VIP:
https://usethinkscript.com/threads/vip-questions.3790/page-24#post-108653
 
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