Don’t panic, you have followed an old outdated link but I can help you find the material you were looking for. The contents of this page has been split into three separate pages on this site.
Thinkorswim Premium Trading Tools…
- Volume Profile: chart study and scan
- Implied Volatility: chart study and scan
- Divergence Lines: chart study and scan
Select this link to view premium trading tools for Thinkorswim: https://www.hahn-tech.com/thinkorswim-premium-trading-tools/
Premium Trading Tools that work on *TradeStation…
- Divergence Lines: chart study, scan and RadarScreen
- Daily ATR Levels: chart study
Select this link to view premium trading tools for TradeStation: https://www.hahn-tech.com/tradestation-premium-trading-tools/
* TradeStation® and the TradeStation Open Platform logo are trademarks of TradeStation Technologies Inc.
TradeStation®, RadarScreen® and EasyLanguage® are registered trademarks of TradeStation Technologies Inc.
Sierra Chart Premium Trading Tools…
- Divergence Lines: chart study
- Daily ATR Levels: chart study
Select this link to view premium trading tools for Sierra Chart: https://www.hahn-tech.com/sierra-chart-premium-trading-tools/
In the future, you can find any of these new webpages from our main menu. Just look for the “Premium Indicators” menu item and you will find all three of these pages are listed there.
Hello Pete, will the Std Divergence Lines MACDx2 and the Hidden Div Lines MACDx2 work with option charts? Is there a scan/watchlist/alerts available for divergences? TY Pete
Whatever ticker symbol you add to the chart will work. Options contracts are just ticker symbols. However you cannot do spreads of any kind and most options contracts lack sufficient trading data to fill a chart anyway. So unless you are charting options for QQQ, or SPY you are going to have gaps in the trade data on the chart. The demo video describes what features are included so take the time to view the video to answer your questions about scan/watchlist and alerts.
Hello Pete,
Is it possible to use the SC divergence line indicator to detect price divergence against Cumulative Delta Bars?
That would require a modification to the code with an additional fee. If the Cumulative Delta Bars is a built-in study that comes with Sierra Chart the source code can be used from that. If it is a custom chart study you will need to provide the source code you have.
Hello Pete
I just discovered our youtube channel and was blown away, thank you for sharing your knowledge. It helped me to become a better trader
also, I used to be a developer myself and really appreciate you teaching and giving me foundation to begin from on ToS
I do have a strategy that I possibly would like to convert into a script and may need to ask for your help. at the meantime i may support you by purchasing some of the stuff you already built
Thank you
Thanks for taking the time to express your appreciation and feedback. Take care!
Hans! new to tradestation, migrating from Think or Swing.. trying to rebuild my system… question: Does the daily ATR level indicator works on the latest Tradestation version of the platform?
You can call me Pete. “Hans” is someone else entirely. But perhaps that was a spell check error. The name of the other platform is Thinkorswim, not “Think or Swing”. But there again that also may have been a spell check error. Having cleared all of that up. Yes, I am using the ATR level indicator on the most current version of TradeStation publicly available.
Thanks Pete,,,,, yes, all spelling errors, my apologies..
I have found the video for Volume ProfileV2. This video references the original Volume Profile video. I am not able to locate that original video. Can you assist?
Original demo video is here: https://youtu.be/UerGumC2CUA
Hi Pete, is your IV Percentile Premium Indicator actually an IV Rank indicator? It’s my understanding that IV Rank tells whether implied volatility is high or low in a specific underlying relative to the past year of implied volatility data whereas IV Percentile represents the percentage of days that implied volatility has traded below the current level over the past year.
The indicator is based on the Current IV Percentile that is display on Thinkorswim under the Trad tab in the section labeled “Today’s Options Statistics”. However this was clearly explained and demonstrated in the video. Regarding the difference between percentile and rank I have no opinion. I have tailored this specifically to what is used in Thinkorswim.
Hi, Pete, about the volume profile scan indicator, in your video, you select “hour” based on weekly time frame. If I select 30 min or 5 minutes time frame based on weekly scan, the scan results are the same?
My question if different time frames will make any different results for example, if I use it on shorter time frame, like 5- 15 min scan based on daily time frame.
Thank you
The basic concept I describe in the video is this: The more candles you have for the profile period (ie, lower chart time frame and/or long time per period), the more signals the code/scan will generate. At some point there is a balance. I found that a combination that achieves 24-36 candles per profile period produces the right balance between signal and noise.
I have looked, for a long time, for a divergence indicator that accurately finds a divergence between price and the MACD value line/histogram. For me, Pete Hahn’s divergence indicators are exactly what I was looking for. I ended up purchasing both the MACD and Stochastic/RSI indicators for Thinkorswim. Included with the purchase was the code to create scans in Thinkorswim. Now I can scan for both positive and negative divergences. You can even adjust the lookback period so you can find divergences that suit your style of trading. They are very easy to implement and provide great visual feedback. These indicators work amazingly well and I find them to be an excellent product and very fairly priced.
Carl, Thanks so much for taking the time to provide your feedback. Very much appreciated!
Hi Pete,
I had purchased the MACD divergence and has been using it for some time. It is a great tool. My question is : If I purchase RSI/Stochastic divergence, will it enhance or interfere my trading decision?
Amin
I’m glad to know you have found the MACD divergence study a useful tool in your trading. However it is impossible for me to answer your question. The only thing I can do is provide you some example screenshots showing the RSI-Stochastic Divergence plotted on a chart. You will have to determine for yourself whether it will impact your trading in a positive or negative fashion and to what degree.