Combining the Stochastic and MACD into a Custom Scan
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.
IMPORTANT UPDATE: At the 15:05 mark of the video there is a typo in the “plot Data” statement which was corrected before reviewing the signals on the chart. You will find the corrected version of the “plot Data” statement is shown at the 18:14 mark of the video, just as I was copying the code to paste it into the scan. So please use the code as displayed at the 18:14 mark of the video. Sorry for any confusion this may cause.
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.
Would you like to learn how to master the custom scan tools on Thinkorswim?
Click here: Thinkorswim Scans Beginner to Advanced
Learn how to build custom scans without writing any code: Thinkorswim Condition Wizard
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.
TD Ameritrade provides financial services including the trading of Stocks, Futures, Options and Forex.
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