# Thinkorswim Scan To Strategy 17

## Converting a Scan to a Strategy (and vise versa)

Thinkorswim Scan To Strategy

Do you know how to convert a custom Scan on Thinkorswim into a custom Strategy? You will not believe how simple it is. This video shows the step-by-step instructions on how to convert custom Scans into custom Strategies. There is also a quick demo of how to convert a Strategy back into a Scan. After watching this video you will be better equipped to take your trading ideas and put them into practical use. You will be able to build strategies that meet your trading plan and then convert them into a scan that will deliver verified entry signals right to your watch list.

This video builds upon the foundations laid in four previous tutorials. This video assumes you already have a good understanding of custom studies and strategies on the Thinkorswim platform.  If you haven’t seen them already, it’s best to view them first.

Thinkorswim Custom Scan Stochastic MACD

Thinkorswim Scan TTM Squeeze Histogram

Thinkorswim Scan MACD RSI Part Two

Thinkorswim Strategy Guide

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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## 17 thoughts on “Thinkorswim Scan To Strategy”

• Joe Dewan

Hi Pete,
I don’t see exactly the same thinkScriptEditor as you copy and pasted.

Here’s what I see;

input price = close;
input displace = 0;
input length = 20;
input Num_Dev_Dn = -2.0;
input Num_Dev_up = 2.0;
input averageType = AverageType.Simple;

def sDev = stdev(data = price[-displace], length = length);

plot MidLine = MovingAverage(averageType, data = price[-displace], length = length);
plot LowerBand = MidLine + num_Dev_Dn * sDev;
plot UpperBand = MidLine + num_Dev_Up * sDev;

LowerBand.SetDefaultColor(GetColor(0));
MidLine.SetDefaultColor(GetColor(1));
UpperBand.SetDefaultColor(GetColor(5));

Thank you.
Joe

• stamenski

I am sorry if I am posting this twice, but I cannot see my previous post. My question is why cant I see my customs scan under the User Defined Studies in order to copy and try it as a strategy. Isnt a Scan a Study ?also

• Pete Hahn Post author

Your original comment was located immediately below this one. Since you could not locate the original comment I removed it so I could respond to this one. Adding a custom scan to Thinkorswim does not automatically add a new custom chart study. While it is possible to reference a custom chart study from within the code of a custom scan, the process does not work in reverse.

• Morteza

The scan to strategy should work in a way so that if strategy condition triggers in the last bar or within x bars it should trigger, not because it triggers at some old time in the past. simply scanning to strategy doesn’t do that. How can we scan so that it shows only the ones that are triggers on the last day?

• Pete Hahn Post author

I’m really not sure what you are asking here. You seem to be implying that scans are returning results for signals that took place many bars ago. That is not the case. You have to purposely create your scan to look to the left the most recent bar available. The vast majority of scans only operate on the last bar available.

• Shawn

Can you create a strategy for the PPS study (Person Pivot Study). I want to create a strategy that will back test for buy or sell signals on daily or weekly time frames.

• curtis

Mr. Hahn,
I have watched the above video and was able to create a scan for BBE, thank you immensely. How do create a scan that has two plots and you want to change the condition of one of the plots. I am attempting to scan for stocks that WAD is crossing above an EMA.
declare lower;

plot ZeroLine = 0;

ZeroLine.SetDefaultColor(GetColor(5));

• David M McLaughlin

Hi Pete,
I have watched your videos and used the knowledge to make some cool strategies so I first wanted to say thank you for all you do. I would like to know how I can define the price at the bar I enter the trade as a variable then use it as a stop to close the trade if the price was to move against me?

Regards,
David

• Cris

Hi Pete,

I converted the TTM Squeeze Histogram into a strategy, and the code was exactly as you used in the video. Yet, when i apply the strategy on the chart, i just get one straight line with the entry points annotated from the strategy, but i lose all the other charting studies that I have, such as the candle sticks, bollinger bands, keltner channels. Can you help me with this please.

• Pete Hahn Post author

You will have to post this in the Q&A forum and provide a full view screenshot of your chart. No way to know what you have there until we see it.

• Pete Hahn Post author

The code shown in the video is a variety of built-in studies, along with a sampling of custom code presented in other videos. There is no source code provided with this video. If you are interested in something in particular you will need to access them by viewing one of the several videos referenced at the start of this video. Please don’t miss the entire point of this video, which is to show you how to convert between scans and strategies.