Thinkorswim Custom Scan Stochastic MACD 9


Combining the Stochastic and MACD into a Custom Scan

Thinkorswim Custom Scan Stochastic MACD

Thinkorswim Custom Scan Stochastic MACD

Have you ever wished you could take your favorite setup and convert it to a custom scan? Wouldn’t it be great to just press the scan button and instantly have a list of qualified charts to review? In this video, you learn how to convert the logic of your setup into a custom scan on the Thinkorswim platform. You’ll have to work with a little bit of scripting language. But don’t worry, I’ll show you step-by-step how to take your ideas and translate them into a clear signal the scan engine can understand. Even if you’ve never worked with a scripting language before, this video makes it easy.

Thinkorswim Custom Scan Stochastic MACD

This video demonstrates how to convert the plot lines from two different indicators and convert them into a true/false statement the scan engine can understand. Once you’ve mastered these techniques you will be spending much less time reviewing charts. Your own custom scans can filter out the low hanging fruit, saving your countless hours of chart time.

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.

*Thinkorswim is a chart analysis platform offered by TD Ameritradewww.tdameritrade.com

TD Ameritrade provides financial services including the trading of Stocks, Futures, Options and Forex.

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Thinkorswim Custom Scan Stochastic MACD

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9 thoughts on “Thinkorswim Custom Scan Stochastic MACD

  • Kirk E. Zeller

    Hello Pete,
    I’m so glad I found your site which has immensely increased my understanding of TOS and its many features. I just found “OnDemand” on one of your other videos so I appreciate you demonstrating that capability. I’ll be doing more testing over weekends and evenings now. For this video (Thinkorswim Custom Scan Stochastic MACD) I am happy to be able to follow along with the instructions and try to see the long and short sides on the same scan. I’ve added this piece of code at the bottom and wanted your input if you would do it this way or differently. Thanks for all you do and I wish you success and great health over the weeks and months to come.

    def DataUp = (SlowK[1] SlowD) and (Lowest(SlowK[1], 3) Diff[2]);
    def DataDown = (SlowK[1] > SlowD[1]) and (SlowK > SlowD) and (Highest(SlowK[1], 3) > 50) and (Diff[1] < Diff[2]);

    def total = DataUp + (-DataDown);

    plot Data = total;

    Also, please help me with the added syntax to create a Scan for the "total" (+1 or -1) so I can add to a watchlist. If I understand correctly, I need to have a "plot scan; " statement after the inputs and a "scan = total " statement for total?

    Thanks again.

  • Matt Johnson

    Morning Pete,

    First off, thank you very much for your posts of videos like this. They really do help! And I like that you stay on course in your video and you don’t go off on tangents.

    I am trying to create a scanner that combines conditions of MACD and StochasticMomentumIndex. I have come up with a rough draft of code so far based on this video. I can’t seem to get it execute properly though. Could you please help? I need to share in greater detail what I’m looking for in the scan.

    Thank you!

  • JP

    Dear Pete,

    This video is just amazing, showing us how to combine two instruments into one custom scan. I pushed it just a bit and tried to add that it just fires if the CCI is > 0. Unfortunately neither with the added CCI, nor without, it doesn’t work (my screenshot: https://drive.switch.ch/index.php/s/R1qXz7UslbvgODG and the used code in an rtf-document: https://drive.switch.ch/index.php/s/6WGDZoHrrzNoh98). What did I wrong?

    Thanks for your help and your great work.

    JP