Version Two: Custom Scan Using MACD and RSI
Based on a viewer’s request, this video takes the original MACD RSI Scan to new territory. You will find two custom indicators are included. I included a link to one below, the other within the video. I used the original code for the MACD RSI Scan is used to create a full featured indicator that plots on the price graph.
Included Features:
I included built in alerts, both audible and visual. You will find many adjustable parameters were included 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. Those who watch the entire video will learn how it works and how to adjust it to fit your needs.
Downloads:
The original Scan indicator is linked below. I modified it so it can be used as a scan for both oversold as well as overbought conditions. In the video I explain how to switch from oversold to overbought.
Scan file download is available on the Patreon post at the bottom of this post
Chart study file download is available on the Patreon post at the bottom of this post
Lean More:
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.
*Thinkorswim is a chart analysis platform offered by Charles Schwab: https://www.schwab.com/
Charles Schwab provides financial services including the trading of Stocks, Futures, Options and Forex.
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Watch the video, Thinkorswim Scan MACD RSI Part Two below:
This content is only available to my Patreon subscribers at a level of $3 or higher. Click the image to the left to open this content directly on my Patreon page.
The custom script file included with this video is only available on this post in Patreon.
Thanks again for your continued support!
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.