Thinkorswim Scan MACD RSI Part Two 29

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Version Two: Custom Scan Using MACD and RSI

Thinkorswim Scan MACD RSI Part Two

Thinkorswim Scan MACD RSI Part Two

Based on a viewer’s request, this video takes the original MACD RSI Scan to new territory. Two custom indicators are included. One is linked below, the other is linked within the video. The original code for the MACD RSI Scan is used to create a full featured indicator that plots on the price graph. It has built in alerts, both audible and visual. It has many adjustable parameters for customization. It uses the MACD and RSI to plot areas where overbought and oversold conditions begin to reverse. You can adjust the indicator so that is triggers an alert on the currently active bar or have it wait until the bar closes and the signal is locked in. Be sure to watch the entire video so you understand how it works and how to adjust it to fit your needs.

The original Scan indicator is linked below. It has been modified so it can scan for both oversold as well as overbought conditions. The video explains how to switch from oversold to overbought.

Link to study file: Scan_MACD_RSI_2STUDY.ts

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 Ameritrade: www.tdameritrade.com

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

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29 thoughts on “Thinkorswim Scan MACD RSI Part Two”

  • Reply ↓
    Himanshu Kapoor

    Thank you for posting this; very helpful! Would you happen to have the code for alerts on when RSI hits 70 or 30. For example, I want a bubble that shows custom text, when RSI hits 70, and same for when RSI hits 30. Or, is there an easy way to modify this one Chart_MACD_RSISTUDY.ts

  • Reply ↓
    Ben

    Hello,
    I have downloaded the the .ts 2nd study code posted in a link in this page. it is labeled “Scan_MACD_RSI_2STUDY.ts” . and it not the one shown in the tutorial video.
    In you video posted here the name of the study shows as “Chart MACD_RSI…” and as shown in the attached video, it has an option to switch the alert on “Closed Bar” ( 04:03 minutes).
    Where is the link to this .ts code. was it removed?
    Ben

    • Reply ↓
      Pete Hahn Post author

      When viewing the video, click the information icon in the upper right corner of the chart. This will open the view that shows all available downloads. You will find this study listed at the bottom of that view.

  • Reply ↓
    Brandon

    Hello Steve,
    Thank you for your excellent work and clear tutorials.
    My question regarding this Scan is related to using it in different chart time periods/aggregations.
    I see that in your tutorial you always use this MACD/RSI scan on the Day chart/aggregation
    Can it be used on shorter or longer time period charts? Will the # days of the MACD cause problems using this on a 5m chart for instance? And, same question for showing the indicators on a chart (Currently I use it as a seperate study), but that’s probably the same answer..

    • Reply ↓
      Pete Hahn Post author

      The answer is yes. You can apply whatever time frame you want to the chart and it will plot any signals that appear. Not sure why you asked this question when all you had to do was to download the study and test it for yourself. So I probably don’t understand what you are requesting. Please provide more details if this explanation was not a direct answer to your question.

  • Reply ↓
    Anthony Sanch

    I am trying to put this indicator on my entire watch list. Is there a way on think or swim to apply the oversold script to check my entire watchlist instead of doing one by one?

  • Reply ↓
    Anthony Sanch

    Hey Pete,

    Thank you for the help. Noticed that these scripts wont work on Tradingview. Tried to edit it myself to try to get it working but no luck. Thank you.

  • Reply ↓
    Shahrom Ikramov

    Hello Pete,

    The description of the video on has only the Scan_MACD_RSI but not the Chart_MACD_RSI_2STUDY. Is there another link that I can download the study ?

    Thanks,
    Shahrom

    • Reply ↓
      Pete Hahn Post author

      Top right corner of the video. The Exclamation mark titled “Info”. Link to the chart study version is there. The link displays if you watch the video all the way through.

  • Reply ↓
    Pete Hahn Post author

    Terribly sorry to put you through all that. I was not aware that YouTube has completely removed all annotations. Even from videos previously published. Please contact me via this contact form and I will email you the link.
    https://www.hahn-tech.com/about/

    I will have to update my entire library of videos to correct the issue for the rest of the viewers:

    • Reply ↓
      Doug Nashif

      Thanks Pete! May I suggest something? In viewing several charts I find that the flag is covering up important bars after the signal IF price does not reverse. If you so choose it may be fine to reduce the flag to simply an arrow that can be sized by the user. Just a thought and thanks again for all you do for the trading community!
      Doug

  • Reply ↓
    Pete Hahn Post author

    This happens when your web browser is blocking Annotations on YouTube. You can try using a different web browser or try resetting it to default settings. I see you tried two different browsers so far. You are going to have to dig into your browsers settings and enable YouTube annotations.

  • Reply ↓
    Angel

    Peter today I have watch about 8 hours of many of your videos since 2015 I have tried to see how you set up the Chart_MACD_RSI study. I couldn’t find it at all. Is there a video for it so I can understand that on and also the MACD RSI part 2 video? Thank you very much

    • Reply ↓
      Pete Hahn Post author

      That is the Scan. Earlier in the video a link was provided for you to download the Chart Study. That one is named “Chart_MACD_RSI_2STUDY.ts”. These are two entirely separate downloads.

      • Matthew Therrien

        Thank you Pete – I missed that – I do appreciate all that you do and will be donating as you are most valued source of knowledge and great videos – as well as sounding like a really nice person 🙂

        Matthew

      • Pete Hahn Post author

        Thank you Matthew. I really appreciate the feedback. I love doing this as my full time job and every little bit of income helps to keep this ball rolling.

      • Al Jablonski

        Is the Chart_MACD_RSI_2STUDY.ts posted anywhere? I can not find it. Thank you

      • Pete Hahn Post author

        The link to download it is in the video. It is a clickable link. Click on it when it is presented in the white rectangular box.

      • Sree Dev

        Pete

        The white box on the video is not clickable for the Chart_MACD_RSI_2STUDY.ts. Can you please help send me the script.