Finally, an Alert Based on TTM Trend
Responding to numerous requests from viewers like you, this video shows how to add an Alert to the TTM Trend.
The TTM Trend is a licensed Study listed in Thinkorswim under the category name John Carter. For some reason the built in version does not provide audible alerts when the colors change from red to blue and back again. Well fortunately Thinkorswim provides a way to accomplish this without violating any copyright laws.
In this brief video you will see how the TTM Trend indicator is referenced from inside a custom study. We’ll explain how this is possible and then show you how to simply add a few lines of code to include the Alert feature.
DISCLAIMER: I AM NOT A CERTIFIED FINANCIAL ADVISOR AND NOTHING IN THIS VIDEO OR TEXT IS AN ADVERTISEMENT OR RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT. NOR IS THIS VIDEO OR TEXT INTENDED TO INSTRUCT YOU ON HOW TO MAKE BUY OR SELL DECISIONS USING ANY OF THESE INDICATORS.
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Watch the video, Thinkorswim Alert TTM Trend below:
input compBars = 6;
input paintBars = yes;
def upTrend = TTM_Trend(compBars, paintBars).TrendUp;
def downTrend = TTM_Trend(compBars, paintBars).TrendDown;
def bullReversal = upTrend and downTrend == yes;
Alert(bullReversal, "Bullish Trend", Alert.BAR, Sound.RING);
def bearReversal = downTrend and upTrend == yes;
Alert(bearReversal, "Bearish Trend", Alert.BAR, Sound.RING);