Version Two: Custom Scan Using MACD and RSI
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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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
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.
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..
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.
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?
Yes, but we can’t provide that solution here in the comments section. Post a new request in our Q&A forum. Be sure to search before posting because you may find a solution you can use has already been posted. https://www.hahn-tech.com/ans/cat/watchlists/
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.
That is correct. The code for TradingView and Thinkorswim are completely different. You cannot use the code from one platform in the other.
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
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.
Pete – Will you please post Chart_MACD_RSI_2STUDY.ts? I was really hoping to get a peek at that code 🙂 Thanks so much!
The link to download the code is included in the description of the video.
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:
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
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.
Awesome. Thanks a lot!
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
The original video is here: https://www.hahn-tech.com/thinkorswim-scan-macd-rsi-squeeze/
Pete
I downloaded your Scan_MACD_RSI_2 and it has none of the adjustable parameters shown in your video – Please see screenshot of the settings we get – https://i.imgur.com/4AckAuD.png
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.
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
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.
Is the Chart_MACD_RSI_2STUDY.ts posted anywhere? I can not find it. Thank you
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.
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.
Click the exclamation mark in the upper right corner to access the download links.
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