Thinkscript strategies

You can plot diff if you need to examine its value at each bar of your chart. mx/qCt4Bkl. input price = close; input length = 9; plot SMA = Average(price, length); This script simply plots a 9-period simple moving average on your chart. All you have to do is fill in the blank with the color of your choice. Or 3 bars etc So I change number of bars to see the strength of a typical breakout per each moveing average breakout or any other strategy. Choose Edit to open the Study Order Condition window. I'm trying to figure out if it's possible to create automated options strategies in thinkScript. The VIX Stretches Strategy. If you don’t put the declaration on the first line of your script, it gets added to the upper chart. You will not see the same set up as someone else, even if you're staring at the exact same charts and signals. Mar 3, 2024 · Mar 3, 2024. 4. We're releasing our first algo for ThinkorSwim based on the Opening Range Breakout indicator. rad14733 said: Right-Click on the Option in the Trade tab and select Copy <option symbol> and then Paste as the symbol in your Chart panel An alternate method is to Click on the symbol dropdown in your Chart panel, Click on the Options tab, enter the underlying symbol, and select your option from the condensed Option Chain Oct 17, 2022 · Final Words. Code: plot X=reference OnBalanceVolume(); Another case of thinkscript study referencing. There is no other use for this declaration. Sell_AUTO, EMA crosses below EMA[1]); To see the results of your strategy, position your mouse on any of the strategy points on your chart. Designed for NQ 1m, but I see good, bigger trades on 2m as well (I have only traded it on sim thus far). mx/BHkdttM. Apr 24, 2020 · Apr 24, 2020. I have tried searching for similar threads but have not been able to find a solution. I've also added other thinkscript studies to this chart as well, the Matrix, the TMO & RSI Laguerre. Note that in thinkScript, equality and inequality operators can be applied to string data, see Example 4 for details. They are easy to implement using the SetDefaultColor() function and each color begins its name with Color. . Note, it uses request. In pseudo code: tradeTrigger = if tradeCriteraMet and noTradeDoneToday then 1 else 0; Here's what doesn't work: Type in the desirable symbol name in the corresponding form. Sort by date Sort by votes. SQUARES; Multiple leg options strategies will involve multiple commissions. Feb 3, 2023 · How to Convert from TradingView PineScript to ThinkorSwim thinkScript. The TRIN Strategy. Once done, I could remove the individual indicators from my study set since they are all now in the strategy. I use Renko for day trading and while I haven't seen a code for Uni-Renko available in this forum, I have found the thinkscripts to add a Heiken Ashi overlay on top of a Renko chart; https://tos. Auto trade isn't supported in ThinkorSwim at the moment so you still have to execute the trade on your own. Dec 22, 2023 · Quick demonstration on how to use thinkorswim to code strategies. thinkScript® is a built-in programming language that gives you the capability of creating your own analysis tools such as studies, strategies, watchlist columns, etc. I. Red); myindicator. highlight syntax. Users of thinkorswim® platform are provided with a powerful and flexible tool called thinkScript® language. If you have multiple entries in the same direction, the function returns the average price for all of them. Is it possible to have a thinkscript Strategy that uses 5 different indicators that will have a Buy or Sell at possibly different time bars? For example, if 3 of the indicators were on Buy signal and 2 of the indicators were on Sell signal, the position would be Long 1 (3 Buys minus 2 Sells). Proving a tr Jul 17, 2021 · Strategy Based on EMAs, TSI, MACD, and Premarket Highs/Lows For ThinkOrSwim: Strategies & Chart Setups: 384: Apr 7, 2022: MACD-EMA Strategy For ThinkOrSwim: Strategies & Chart Setups: 24: Oct 22, 2021: B: Trading Rush MACD 200 EMA Strategy 62% Win Rate For ThinkOrSwim: Strategies & Chart Setups: 31: Sep 14, 2021: W: Automated MACD Backtest Oct 6, 2022 · When you want to output data from your indicator or backtesting strategy, you employ the plot () function. To explain the strat, I want the strategy to buy an ATM call option when the 9 EMA crosses above the 12 EMA and close it when the 5 EMA closes below the 12 EMA. This is a work in progress to keep a clean chart for intraday trading on one minute chart thinkScript® is a built-in programming language that gives you the capability of creating your own analysis tools such as studies, strategies, watchlist columns, etc. Nowadays, we are able to create complex technical indicators and strategies using data one could not even imagine back in the time. Super fun and easy to see in real-time. Mar 19, 2020 · I use this on the NQ with a 1-minute chart and that’s about it. Not investment advice, or a recommendation of any specific security, strategy, or account type. Gathers data about market conditions for a given symbol. thinkScript Editor. 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. The workaround is to: copy the strategy into the study tab. Also, you should be more specific on the style of trading and assets you trade so people can at least direct you to relevant sources. Code: ##Nick Radge Bollinger Band Breakout Strat. If you want to see more videos on this topic just be sure Dec 16, 2018 · I've been asked many times, how I'm able to produce buy and sell signals. stop. Defines the price decrease (in units specified in the "offset type" input parameter) at which the exit signal is generated. Here is the code: Code: plot myindicator=ExpAverage(close,20); myindicator. Past performance of a security or strategy does not guarantee future results or success. Any input on this will help, as I’m not a coder but slowly learning this skill. If you have prior experience in either language, the conversion process from Pine Script to thinkScript should be relatively straightforward. ARROW_DOWN); May 10, 2021 · 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. The Alert () function is irrelevant to a platform alert. One cannot neglect them or heavy losses will result. Disclosures. Convert Mar 26, 2020 · Active member. Exponentially Deviating Moving Average (MZ EDMA) is derived from Exponential Moving Average to predict better exit in top reversal case. #2. to create your own custom stock trading indicators in thinkorswim using their think script programming langu Aug 23, 2020 · For example the following works. Just when I thought I was getting the hang of this ThinkScript I get stumped! I am working on a strategy where I only want to execute one trade a day, even if the trade entry criteria are met multiple times in the day. If you’re feeling adventurous, you can create a custom Jan 12, 2020 · 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. POINTS else if aggregationPeriod == aggregationPeriod. chimes" to Adder order on Strategy thinkscript? Questions: 1: Feb 11, 2023: Thinkscript Strategy with Multiple Studies/Indicators: Questions: 1: Jan 24, 2022: S: ThinkScript Averaging-In Strategy: Questions: 5: May 20, 2021: J: Add stoploss Nov 16, 2019 · 2019 Donor. AssignValueColor(if close>=myindicator then Color. Entry strategies combine Entry and Exit properties: a Long Entry strategy serves as an exit for a Short Entry strategy and vice versa. That cannot be said for the document you have compared it to. I am not seeing or finding a good Feb 26, 2021 · Thinkscript a strategy using the Squeezepro histogram: Questions: 1: Jul 24, 2023: S: How to add "Sound. Green else Color. As soon as you insert declare lower;, it gets moved to the bottom of the Nov 2, 2021 · Lifetime. Sep 11, 2022 · 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. These properties can be customized by Pos effect radio Jan 9, 2023 · PaintingStrategy Examples. Obviously, the script would replace the "auto buy to close" or auto sel to closel" at the bottom of a TOS strategy. But knowing when and what to buy is the secret to success along with monitoring them constantly. Backtesting is a crucial step in a trader’s toolkit, allowing for the evaluation of trading strategies using historical data. # 3) Buy on the open day after the signal. Right click the mouse and select "Show report". My current strategy calls "Alert" right after the "AddOrder" with either BUY_AUTO and SELL_TO_CLOSE, but I would like to skip the alert if there has been an outstanding position, is there an API or way to query any outstanding positions that have not been SELL_TO_CLOSE? Chadnash. This very basic indicator is based on four criteria laid out by Tylor Horton of Focused Trades (now with Simpler Trading folks) that he uses for his method of trading squeeze setups. In thinkScript®, you decide which kind of data to analyze with which methods. ##. comment out the AddOrder statements. Oct 1, 2019 · AddOrder(OrderType. # This strategy counts a number of lower highs then after the last candle that price crosses back above lowest high triggers the buy signal and sell signal if the price crosses below the 9 ema or closes below the close of the last candle. Click on the Method cell and choose "STUDY" from the drop-down list. The VIX-RSI Strategy. g. Dec 4, 2021 · My most recent strategies are all listed under the strategies category on the site, and here’s a quick reference list: Cumulative RSI (2) Strategy. Oct 24, 2021 · 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. Jul 12, 2023 · 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. security to get data from a higher timeframe/aggregation, not sure if that's the issue or not. setPaintingStrategy(if condition then paintingStrategy. On the 5min 180day test it gets 1270 trades, a 2. Oct 22, 2020 · Oct 22, 2020. The Double 7s Strategy. I coded it for thinkscript and figured I should share it with all you wonderful people here. TRIANGLES else PaintingStrategy. The author states: This strategy uses crossover of Exponentially Deviating Moving Average (MZ EDMA) along with Exponential Moving Average for trades entry/exits. 3 profit factor and a pretty sweet equity curve that you should be able to see in the screenshot below. Dec 8, 2021 · then the following formulas would be changed to = your buy and sell signals. My question is can I set a "take profit" parameter for a Aug 17, 2022 · Strategies & Chart Setups: 0: May 24, 2024: J: Bollinger Bands & RSI Chart Setup: Strategies & Chart Setups: 2: Feb 26, 2024: Repaints "Trade In The Shade" -Multi-time frame Current Reverse Engineered RSI with Bands and Squeeze For ThinkOrSwim: Strategies & Chart Setups: 14: Sep 16, 2022: S: Dynamic RSI Credit Spread Strategy For ThinkOrSwim To define the decrease as a percentage change of the entry price, select "percent". The QQE indicator consists of a smoothed Relative Strength Index (RSI) indicator and two volatility-based trailing levels (fast and slow). The Universe of ThinkScript A compilation of different ThinkorSwim indicators, studies, strategies, and snippets. Strategy Alerts In ThinkOrSwim. thinkScript® Editor is an advanced code editor that allows you to create your own thinkScript®-based studies and strategies. # if the buy signal was set, then set the stop loss to yesterday's low. 1) thinkScript Alert () function. Check out my vlogs! I vlog startups and the peopl Apr 17, 2022 · 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. I want to apply a conditional statement to the SetPaintingStrategy () in thinkscript so that the color plot will change when a specific condition is met. Apr 3, 2023 · Thinkscript is a programming language for the Thinkorswim trading platform that allows its users to backtest strategies and build tools such as watchlists, indicators, and more. Wondering if someone can spot the bug. Thinkorswim, a powerful trading platform, offers several features to facilitate backtesting, including thinkBack, thinkOnDemand, and the ability to create custom strategies using thinkScript. Nov 21, 2023 · 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. Here are some resources to help you learn thinkScript, the official coding language for ThinkorSwim platform. Multiple leg options strategies will involve multiple commissions. Sep 15, 2022 · Access My Codes: https://DayTradingStrategies. #1. By using ThinkScript on thinkorswim, traders can access and analyze real-time and historical market data, calculate custom calculations, implement trading logic Jan 8, 2020 · The magenta line is the upper lower for Donchian 25. Uses this data to set some criteria for options calls and puts. Thank you fellow Jul 22, 2021 · Hey guys. Aug 8, 2019 · Typo on exactly in the image ugh. Learn all about VIP membership here. In this editor, you can: compose and edit your code. #5. The information presented in this guide is for educational and informational purposes only. Mar 26, 2020. In this video, I’ll show you how to use the Smarter MACD scans to find powerful swing trading setups, in a few minutes. It has everything that thinkScript® Editor can offer and, in addition, it allows you to use any of the existing studies (both predefined and user-defined), keep multiple script tabs open, and detach the window (available To associate your repository with the thinkscript topic, visit your repo's landing page and select "manage topics. This is a trend following strategy. # Plot arrows for every breakout. The report takes into account all Buy and Sell signals suggested by the strategy and estimates the Profit/Loss value. 09:18 JohnnyQuotron: I have lifed the required code from Mobius' RSI-Laguerre Self Adjusting With Fractal Energy Gaussian Price Filter script and placed it directly into a scan. Current Features: Total trades. ThinkScript Strategies. The thinkScript® Integrated Development Environment (IDE) is a dedicated thinkorswim interface that can help you create, edit, and manage your thinkScript®-based studies. The function is frequently used in combination with TOS’ backtesting strategy for order entry and stop loss. Jan 30, 2022 · This uses the halftrend indicator with added deviation bands I coded in. format your code. This is the ThinkScript: then 1 Jan 6, 2021 · I've come across another strategy that I wanted to share with you guys for SPX only. Simple Moving Average. Functions present in this programming language are capable of retrieving both market and fiscal thinkScript Tutorials. I'd change all my "plot" to "def" and remove all the formatting. # 1) Bollinger bands Period 100 days. Nov 2, 2021. Mar 20, 2023 · In ThinkScript, it opens many trades over the past few days (5-minute chart on SPY ticker), but when translated to Pine Script, there are no trades placed. Jan 10, 2021 · There are 2 ways to do alerts. You can use both the Condition Wizard and the thinkScript Editor to set your condition or define a numerical value, e. Furthermore, EntryPrice () helps to Apr 14, 2023 · 1) I can copy the code from each indicator and mash them all into one strategy. Jan 24, 2022 · Jan 24, 2022. thinkScript Tutorials. Commodity interests and cash in futures accounts are not protected by SIPC. Backtesting is the evaluation of a particular trading strategy using historical data. The shared chart can be found here: tos. useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. You will then see a table of your buy/sell strategy with date of trade, price as well as P/L from that strategy. a Short Entry strategy should be accompanied with a Long Entry or Short Exit strategy. Scans available options to find options that meet these May 7, 2021 · May 10, 2021. Forex trading involves leverage, carries a high level of risk and is not suitable for all investors. use integrated thinkScript® library. Strategies. For example, the example below worked for me. ToS platform does not provide for Study Alerts inside of Strategies, nor for strategies inside the scan hacker to alert to new signals. -mashume. Nov 3, 2022 · Here is an example from the CamarillaPoints indicator of painting strategy dependent on the chart aggregation condition: Code: def paintingStrategy = if aggregationPeriod == aggregationPeriod. Gotta put in the grind my friend. def buyStopLoss = if BuySignal == 1 then low[1] else buyStopLoss[0]; Jan 2, 2022 · Code: def entry_condition = if your condition then 1 else 0; def entry_bar_low = if entry_condition == 1 then LOW else entry_bar_low[1]; so that when the entry condition is true the low is captured and then repeated until the next time the entry condition is repeated. Thinkorswim is the trading platform for the broker TD Ameritrade. Ok so I have been running multiple strategies against each other and I am liking what I have found, BUT deploying the strategies in TOS do not really take into account my mindset as a trader and I want to backtest with that mindset behind every trade. # 4) Bottom Bollinger band set to -1 stdv. Oct 28, 2022 · Oct 28, 2022. LONG_DASH); Sep 10, 2020 · useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. , a study. DAY then PaintingStrategy. Functions present in this programming language are capable of retrieving both market and fiscal Oct 20, 2020 · My strategies document will be a comprehensive and vast collection of strategies that any trader can understand and put into use. input price = close; input length = 9; plot SMA = Average(price, length); plot UpSignal = price crosses above SMA; plot DownSignal = price crosses below SMA; Dec 11, 2019 · Hello Everyone, I am trying to come up with a strategy to backtest buying at-the-money options. Apr 19, 2022 · iAskQs said: I recently came upon a nice scalping strategy: . You can use thinkscript, with some limitations. save your scripts and use version control system. I will note that getting the entry and exit strategies to work was a little tricky for me because I’m not a programmer, but it does work. The x Jan 5, 2021 · Strategies & Chart Setups: 6: Oct 4, 2021: C: 401k Market Timing SPX Strategy for ThinkorSwim: Strategies & Chart Setups: 3: Aug 2, 2020: SPX Fear & Greed Mean Reversion Strategy Indicator for ThinkorSwim: Strategies & Chart Setups: 10: Apr 17, 2019: C: Repaints AGAIG Trading Path Chart for ThinkOrSwim: Strategies & Chart Setups: 33: Jun 13, 2024 Oct 4, 2021 · Oct 7, 2021. May 7, 2024 · With ThinkScript, traders can create custom studies, indicators, strategies, alerts, and scans to analyze the forex market according to their unique trading preferences and strategies. QQE — or Quantitative Qualitative Estimation, is based on a rather complex calculation of the smoothed RSI indicators. Setup: MACD Bollinger Bands (the one Ben has posted on here a while back) 8,16,36 and uncheck "show plot" on the BB upper, BB lower and BB mid line. Here's what I observed: In contrast to many indicators, the sweet spot for this strategy seems to be the 1m chart. I have read several variations of the following: Code: # set stop losses -. Turn ThinkOrSwim into your trading powerhouse, with our free indicators, scans, backtesters, research and more. However, some Entry strategies are configured to provide Entry signals only. close would have to be changed to = the option close, close ( option symbol ) def long_open = 0; def short_open = 0; def long_close = short_open; def short_close = long_open; maybe this study can be altered to generate the desired option data. Jan 12, 2024 · useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. ##Basic Strategy used on a Daily, Weekly, Monthly timeframe. You will only be using the zero line, MACD dots and MACD Line for entry purposes. Sample code with paintingstrategy: Code: plot Result = 10; Result. Tweak the "5" up if you need something slightly higher to slide detection of end of the day into the next to last bar in order to actually close the trade in the last bar of the day. The Fast Trailing Level (TL) and Slow TL are constructed by Sep 16, 2020 · 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. Jan 30, 2020 · Applying the strategy to be tested on the first chart & a copy of the strategy with the extended P&L script appended to it on the 2nd chart. SetStyle(curve. On the 2m, it basically functions as a nice pullback entry in a trend. Also, looking through the thinkscript cloud strategies to verify your claim that my strategies are already there, I didn't find one case of an overlap. The link is embedded within the video so be sure to watch for it. # 2) Boll bands set to 2 standard deviation. These operators return yes or no depending whether the corresponding condition is satisfied or not. . The video even includes a link to download a custom strategy that can both long and short entries. Win count, loss count, win rate & win/loss ratio. Cumulative RSI (3) Strategy. 2) Platform alert, found on Marketwatch -> Alerts. NetDo you want to be financially free? You won't get there trading stocks without a proven system. Mar 26, 2022 · Mar 26, 2022. " GitHub is where people build software. SetDefaultColor(Color. Functions present in this programming language are capable of retrieving both market and fiscal Mar 27, 2022 · Mar 27, 2022. Roughly speaking I'd like to create a script that. Basically, Sell higher implied volatility and buy lower volatility dated further out. In this video, learn how to use the ChatGPT A. The Short S&P Strategy. Let's see how it works in practice. Best strategy is your own strategy. Exampl #1: Plot a simple moving average. When finished, click OK. #4. Highest Return. Functions present in this programming language are capable of retrieving both market and fiscal This video, “Thinkorswim Strategy Guide”, shows you how. Once you have added all the desirable pre-defined or newly created strategies, you can backtest their performance using a feature called Strategy Report. ARROW_UP else paintingstrategy. The following code examples illustrate the use of a few different PaintingStrategy styles. Entry level, but important stuff to know. WEEK then PaintingStrategy. Jan 10, 2020 · Just look for them to be pretty close. ----------- Click for image ----------. May 20, 2019 · Administrative. It’s that simple. Oct 30, 2021 · Squeeze Play Strategy For ThinkOrSwim Hi All - My first attempt at Thinkscript - feedback very much welcomed. Epete, the most consistent SPX strategy I have ever come across is buying calendar spreads. This embedded programming language allows you to add your own studies and strategies to more than 300 Oct 31, 2022 · The EntryPrice () function in thinkScript gives you the price of your entry order. I don’t know how combine the two conditions together to make it plot correctly. Although Pine Script and thinkScript are different programming languages, they share many similar functions and inputs. You will often hear knowledgeable programmers say with disappointment that 'ThinkScript' does not have arrays. There are 25 standard colors in thinkScript, including cyan, magenta, yellow, green, and red. Take Advantage of this MACD Divergence in JPM. Although calling it an algo, it's simply just a strategy that plot buy and sell signals on your chart. Avg return per trade, per win & per loss. Results presented are hypothetical, and there Oct 14, 2022 · This is a P-Sar strategy, not that it makes any difference. I want to add a strategy with conditions, such as: Buy when the 9-EMA crosses over the 200- EMA, and the closing price is above the 9 EMA. In studies or strategies, ThinkScript runs your script once for each and every bar on your chart, regardless of the aggregation period. Platform and chart have to be open. The conditions are fairly simple. This amazing feature in Thinkorswim is explained step-by-step. White); myindicator. Nov 16, 2019. May 20, 2021 · @rad14733 - Correct, looking for a method to average-in for a strategy over multiple oversold days, and then liquidate (which to your point that's what it indeed does today) the full position when the equity goes back to overbought to get the final trade results for historical comparison across other equities. And the dashed line is the midline for Donchian 50. Strategies should be used pairwise, e. EDMA Philosophy. Please read the NFA booklet Trading Forex: What Investors Need to Know prior to trading forex products. The following comparison operators are available in thinkScript®: All of these operators except for between are binary. Let us add Bollinger Bands® Long Entry and Short Entry strategies to the E-mini S&P 500 Jan 15, 2019 · 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. ThinkScript Strategies provide backtesting capabilities for Thinkorswim users, by algorithmically generating entry & exit signals that can be automatically backtested on any symbols you like, in order to verify accuracy and to generate a theoretical profit & loss curve showing the hypothetical performance of the strategy. Dec 27, 2022 · In thinkScript, we use the declare lower; declaration when we want to place a study on the lower subgraph. May 10, 2019 · For ex: "After price breaks above 20 day moving average, close trade after 5 bars". Platform doesn't have to be open and you can get email/SMS. plot the triggers. I thought it would be very helpful to the trading community to show you guys a Thin Mar 30, 2020. Example #2: Plot implied volatility. Functions present in this programming language are capable of retrieving both market and fiscal thinkScript® is a built-in programming language that gives you the capability of creating your own analysis tools such as studies, strategies, watchlist columns, etc. 2) I can copy just the calculations from the indicators and mash all those together. The yellow line is the midline for Donchian 25. Nov 24, 2013 · I wrote the Thinkscript Strategies below for the entry and exit, but I found the original Donchian Channel study code on this site. 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