Thinkscript examples

I constantly look to this work for ideas and techniques.

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. Downloading and using Thinkscript is free, only when it comes to trading do the fees apply. Thinkscript can be thought of as a tool that allows you to run trading analysis, backtest strategies, build watchlists and set up alerts for financial data. To get started with Thinkscript, you will first need to download the app. In order to do this, go over to the following link and select your OS.

Thinkscript examples

Follow along with the video below to see how to install our site as a web app on your home screen. Note: This feature currently requires accessing the site using the built-in Safari browser. 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. 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. What's new New posts New resources New profile posts Latest activity. Log in Register. What's new Search Search. Search titles only. Log in. Install the app. The 1 Community for Stock Trading Indicators Better trades with simple strategies, proven indicators, and a community of support. Join the community.

CustomColor Color Defines the color of the label box.

Follow along with the video below to see how to install our site as a web app on your home screen. Note: This feature currently requires accessing the site using the built-in Safari browser. 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. 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.

The plot function in thinkScript is the most repeatedly used function to render and display data on your chart. When you want to output data from your indicator or backtesting strategy, you employ the plot function. Start by writing the required series argument and then use the plot function to render the specified data on the chart. Sometimes, you may not like how thinkScript presents the data on your chart. Certain values require a different set of styles. In order to change the style of your plot, you will need to use the SetPaintingStrategy constant. Indicators like volume, which shows the distribution of values, might be better suited to be shown as a histogram rather than a line. Without changing anything from your plot function, you can utilize the SetPaintingStrategy constant to change the style from a line to a histogram. In the following script, I plot arrows on my chart to quickly identify when a 3-consecutive green bars pattern occurs. To top it off, you can use different colors and styling options to make the plot more visible on your chart.

Thinkscript examples

The fold operator allows you to perform iterated calculations. The list below explains the operator's logic variable names are taken from the sample syntax above :. The purpose of the fold operator is to perform an iterated calculation and assign the final value to the result variable. With each iteration, the index value increases by 1 ; the initial value of index is set by the start parameter. Iterated calculations will be performed while the index value is less than the end parameter. Once the index value becomes equal to the end parameter, the loop is terminated without calculation. Within each iteration, the operator calculates the expression and assigns the result to the variable. In the expression , you are free to use the value of index and also reference the previous value of the variable. The initial value of the variable can be specified with the init parameter.

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We will to this by having the upper declaration place a weighted moving average plot on our main BTC chart. To facilitate implementing a multiple-time-frame approach consider establishing a named grid with each grid component having the charts and indicators at the time frames that you are interested in. In this case 'agg'. If you have forgotten or are unsure of the symbol, you can find it easily as follows:. Examples will help explain:. Bar1, LowestLow[1], price ;. LinearRegCurve Plots a single curve in which you have defined the type of price and the number of bars as the basis for the curve. SetLineWeight 2 ; NearT. Each symbol is implied-numbered from 1 to 10, top-to-bottom sequentially. NaN function in ThinkorSwim Learn about the double. CYAN ;A Altered bands on lower aggs. In studies, you may reference built-in studies but not user-defined studies in currently.

While discussing variables, we already used the simplest mathematical operations: addition, subtraction, multiplication, and division. There are also equality operators falling into the same group.

Situation: "I want to find the best time to enter and exit an order. Points ; zeroLine. Line ; Stoch. Red else Color. SetLineWeight 1 ; OS. In studies or strategies, ThinkScript runs your script once for each and every bar on your chart, regardless of the aggregation period. There are several built-in Linear Regression studies in ThinkScript. To use Thinkscript constants all you need to do is to define them prior to their use in your scripts. Bullish instead depending on what you desire. Any enum item having a space should have that item enclosed within quotes whenever used. If most datapoints are widely scattered, the SD will be larger i. SPX then 1 else 0; AddLabel! If you are bearish oriented, i.