Thinkorswim thinkscript library

Thinkorswim Layout Update

2010-10-25T23:04:00.000-07:00

Here is my latest layout. The top two rows are more or less the same as before. The bottom left indicator is the number of advancers / decliners. Today is another crazy day. It got up to 17 advancers to decliners in the morning and slowly bleed off all day long. Second left indicator is the breath, up volume minus down volume.

Pivot levels

2009-12-20T21:41:00.001-08:00

My TOS platform setup has not changed since my last post. The only difference is I have been watching the dollar (/DX) more closely in my main screen now.

Anyways, I am using this script to calculate the pivot levels for me. But it requires you going into edit studies and entering in the day high, low and close manually every night. As you can see, the code is almost identical to the last post, but this one allows you to put in the values in the edit studies screen.

input day_high = 0;

input day_low = 0;

input day_close = 0;

plot pivot = (day_high + day_low + day_close)/3;

pivot.SetDefaultColor(Color.YELLOW);

plot R1 = pivot * 2 - day_low;

R1.SetDefaultColor(Color.GREEN);

plot S1 = pivot * 2 - day_high;

S1.SetDefaultColor(Color.GREEN);

plot R2 = pivot + R1 - S1;

R2.SetDefaultColor(Color.LIGHT_GRAY);

R2.hide();

plot S2 = pivot - (R1-S1);

S2.SetDefaultColor(Color.LIGHT_GRAY);

S2.hide();

plot R3 = day_high + 2*(pivot-day_low);

R3.SetDefaultColor(Color.LIGHT_GREEN);

R3.hide();

plot S3 = day_low - 2*(day_high - pivot);

S3.SetDefaultColor(Color.LIGHT_GREEN);

S3.hide();

Pivot levels

2009-05-05T14:08:00.000-07:00

Here is some code to calculate the simple pivot levels for any symbols. You can choose the timeframe to decide if you want to calculate daily, weekly or monthly pivots. By default, the code only shows the pivot, S1 and R1. You can remove the hide() lines and show all the levels if you want.

input timeFrame = {default DAY, WEEK, MONTH};
def period_high = high(period = timeFrame)[1];
def period_low = low(period = timeFrame)[1];
def period_close = close(period = timeFrame)[1];

plot pivot = (period_high + period_low + period_close)/3;
pivot.SetDefaultColor(Color.YELLOW);

plot R1 = pivot * 2 - period_low;
R1.SetDefaultColor(Color.GREEN);
plot S1 = pivot * 2 - period_high;
S1.SetDefaultColor(Color.GREEN);

plot R2 = pivot + R1 - S1;
R2.SetDefaultColor(Color.LIGHT_GRAY);
R2.hide();

plot S2 = pivot - (R1-S1);
S2.SetDefaultColor(Color.LIGHT_GRAY);
S2.hide();

plot R3 = period_high + 2*(pivot-period_low);
R3.SetDefaultColor(Color.LIGHT_GREEN);
R3.hide();
plot S3 = period_low - 2*(period_high - pivot);
S3.SetDefaultColor(Color.LIGHT_GREEN);
S3.hide();

TOS platform layout

2009-01-12T16:02:00.000-08:00

What kind of layout works for you? For me, it has taken a long time to perfect the layout on my TOS platform. Here's my main TOS window with all the lovely intraday indicators I mentioned
along with 1 minute charts of all the index futures. I have two 22" widescreen LCDs running side by side @ 1680*1050 resolution. That layout seems to fit perfectly and quite legible.

2009-01-08T12:24:00.001-08:00

Happy new year everyone!

Have you guys read about this? TD Ameritrade is buying up thinkorswim. We all know how
awesome TOS is! But TD Ameritrade? I definitely have my reservations about this company.
Back in the .com days, I had an account with Datek. Anybody remember that broker? They were
pumping out some cool trading tools at the time. Streaming quotes and real time portfolio management with Java applets. I was quite happy with them at the time. Then Ameritrade bought them out around 2002 I believe. After that, TD merged with Ameritrade. In canada at least, TD basicallly just converted all the Ameritrade accounts into the TD system. Believe me, that was the most horrible platform I have use. HTML interface, no streaming quotes and forget about real time streaming charts. Commision went up as well. Needless to say, I had to switch broker to the next less horrible broker Etrade Canada. That is a whole other horror story all by itself for another time.

Anyways, my point is let's all pray everything will remain the same especially the platform and the commission.

2008-10-23T15:57:00.000-07:00

I don't know how many of you guys follow Brett Steenbarger's blog. But he has been talking about this adjusted cumulative TICK indicator. I finally took the time to attempt to reproduce that. The graphs looks similar, but still off by a tiny bit.

Here's the code:

def previousdaysaverage = Average(((high("$tick") + low("$tick") + close("$tick")) / 3), 395);

plot data = TotalSum(((high("$tick") + low("$tick") + close("$tick")) / 3)) / 100 - previousdaysaverage;

Got this graph from markettells.com

2008-08-20T16:25:00.000-07:00

Check out PennyStocker's blog for loads of TOS thinkscript indicators

http://hankachilles.spaces.live.com/

I have been using the TTM squeeze indicator myself.

2007-12-12T16:39:00.000-08:00

Here's a simple script to see the VWAP (Volume weighted average price). To see a good approximation, you need to switch to the one minute chart since TOS doesn't provide tick data.

plot Data = TotalSum(Volume * Close) / TotalSum(Volume);

Market internals

2007-11-29T16:06:00.000-08:00

For those of you who follow Peter Reznicek on Shadowtrader broadcast, you should know how to setup the market internals. In case you don't, here's the video to do that.

Before thinkscript was available on the TOS platform, you can only see the Advance/Decline line seperately and try to guess what the net number is. Now, you can just do a very simple script to get the net A/D line to show up on the graph.

For the NYSE AD line, pull up a graph of $ADVN. Edit the studies and create a new study. In the text area, put this in:

Plot AdvDecLine = Close - Close("$DECN");

For the Nasdaq AD line, pull up a graph of $ADVN/Q. Edit the studies and create a new study. In the text area, put this in:

Plot AdvDecLine = Close - Close("$DECN/Q");