Thinkorswim Scan SLM Ribbons 19


Scan Stocks Using SLM Ribbons Study

Thinkorswim Scan SLM Ribbon

Thinkorswim Scan SLM Ribbon

An indicator presented on TastyTrade and written by Slim of askslim.com. Prompted by a viewer’s request, this video demonstrates how to use the momentum portion of the SLM Ribbons study as a filter for long and short entries. Free custom study included in the link below. This video will show you how to use the SLM Ribbons momentum in a custom scan. As an added bonus, you will also learn how to apply this to a custom column in a watch list. This is the first video we’ve produced since Thinkorswim’s massive makeover. We take things slow and show you step-by-step how to get it up and running on your platform.

Here is the link to the free custom scan study:

Scan_SLM_RibbonSTUDY.ts

If you are looking for the chart study you can get that directly from the author:

Slim Ribbon

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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19 thoughts on “Thinkorswim Scan SLM Ribbons

  • Mahlen

    Hi Pete, I’ve been trying to modify your scan to produce results when the lower study changes from 1 to -1 (or 1 to 0 ) for a down trend and the opposite for an uptrend. Basically, the trigger on the SLM Ribbon Study. I haven’t had success. Any help would be appreciated.
    Thanks so much.

    • Pete Hahn Post author

      No modifications are required. Those scans are already included in the code you download with the video. There should be no lower study at all. Unless you try to plot the scan code as a chart study.

      • Mahlen Petry

        I’m sorry I’m so dense or unclear. Your scan does show all the stocks either above or below the ribbon before you add in the MACD trigger. Without the trigger, I’d like the scan to show only the stocks the day all the moving averages cross and align. The Slim Ribbon Study shows up/down arrows and bar color changes at those times. Slim calls these change of momentum points. So I’d like to scan for just the stocks the day those change of momentum arrows appear. Possibly a moving average crossover scan could give me something pretty close.
        Thanks again.

      • Pete Hahn Post author

        I never so any of the MACD components in the SLM Ribbon. So I am guessing you added that. To scan for the SLM buy/sell signals use this:
        plot scan = Buy_Signal;
        Or
        plot scan = Sell_Signal;

  • Rick

    Pete when I click the slim ribbons scan study, it doesn’t load the url necessary to import into TOS it takes me to a Google drive and the output is Scan_SLM_RibbonSTUDY.ts. not the url necessary to import into TOS

    • Pete Hahn Post author

      From our website. The menu at the very top. Click on the Help menu item and select “Frequently Asked Question”. Then enter the term “download” in the search box. This is the result of that search: https://www.hahn-tech.com/ans/?search=download
      From that list of results. Read the details for the question titled: “How to download and import STUDY.ts files into Thinkorswim”

      • Rick

        Thanks Pete, after I downloaded per your instructions, and read the script, I realized the user had to configure the plot/scan statements to convert it from a study to a scan.

        Will you add to this scan the 2 hr bar in addition to the daily so it would have to pass the 2 hour filter in addition to the daily ? This would and return a better result as the 2 hour & daily would confirm each other and reduce the large amount of stocks the result returns. Slim recommends viewing the two periods when using the Slim Ribbons.

      • Pete Hahn Post author

        You missed the point of the video. The video was about the scan and not the chart study. The code you download from video is the scan and not the chart study. The chart study version of the code is available through the original author’s website. That link is provided in the description of the video. As to your request regarding various time frames. You apply that very simply when building the scan. Set whatever time frame you want on the Study filter. If you want two time frames in the scan just add two Study Filters and set the time frames accordingly. Nothing in the code can be made to address various time frames in the scna.

      • Pete Hahn Post author

        Just to clarify. The link to download from my Google Drive was for the scan, not the study. If you download that file no changes are required to run the scan. The chart study code is provided by the link to Slim’s website. If you download both, absolutely no changes are required. Hope that clears up the confusion for you.

  • Phil Hampshire

    Hey Pete, For some reason when I load the SLM ribbon study on my chart, the background turns lime green, I know it has something to do with the -1 and 1 on the color bars but for the life of me cant fix it. I can get my chart background back to black if I change the 1 to -1 on the green bar but then it doesn’t show the 1 down on the lower graph, therefore would not be able to use the scan to watchlist. Please help as Im as stuck with this. Thank You, Phil

    • Phil Hampshire

      Hey Pete, Just wanted to let you know that I fixed the background problem on my chart. I had to remove the last line you added for background color, when applying to chart. Then added it back when using for watchlist. Might be useful if any one else runs into the same problem. Thanks again for all you do. Phil

      • duane Heverly

        Phil can you show me what line to remove, I have the same problem. If the indicator is positive the background is green, if negative it is red.

      • Pete Hahn Post author

        This only happens when you use the wrong code for the chart study. You are using the scan code for the chart study instead of using the chart code that is supplied from Slim’s website.