Thinkorswim Strategy Guide 59

Basic Overview of Using Strategies in Thinkorswim

Thinkorswim Strategy Guide

So you have this trading strategy but you have no idea how it performs. Wouldn’t you love to be able to have Thinkorswim automatically test your strategy for you? And wouldn’t it be great if it let you export the trade details so you could analyze them in a spreadsheet? Yeah, it can do that. This video, “Thinkorswim Strategy Guide”, shows you how. The video even includes a link to download a custom strategy that can both long and short entries. The link is embedded within the video so be sure to watch for it. This amazing feature in Thinkorswim is explained step-by-step. If you want to see more videos on this topic just be sure to like the video and leave some comments below.

The following link will take you to the page where you can download the strategy featured in this video:

Strat_PivotRev_SlowDRevSTRATEGY.ts

For Advanced Users Only:

Take this knowledge to the next level and learn how to automate your trades on Thinkorswim

Thinkorswim AutoTrade Almost

Thinkorswim Automated Round-Trip Trades

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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Watch the video, Thinkorswim Strategy Guide below:

A viewer requested the lower study version of a strategy demonstrated in this video. The time stamp where this appears is around 11:22 and the study is called “Strat_PivotRev_TrailSqz”. I decided to make this available to everyone right here at the end of this post. The code is displayed below. Just select the text of the code and copy it to your clipboard. Then in the TOS platform go to the edit studies window and click the ‘New” button in the lower left. You can name the study however you like, then paste this code into that window, being sure to first clear away any text that shows up by default.  Hope it helps. If you any further questions just leave a comment in the box below.

declare lower;
input direction = {default "Long", "Short"};
input tradeSize = 100;
input KPeriod = 10;
input DPeriod = 10;
input priceH = high;
input priceL = low;
input priceC = close;
input averageType = AverageType.SIMPLE;
def SlowD = reference StochasticFull(80,20,KPeriod,DPeriod,priceH,priceL,priceC,3,averageType).FullD;
def pivotLow = low > low[1] and low[1] < low[2] and low[2] < low[3];
def pivotHigh = high < high[1] and high[1] > high[2];
plot pivotLowReversal = ( pivotLow and close > high[1] ) or ( pivotLow[1] and close > high[2] and low > low[2] and high[1] < high[2] );
plot exitLong = SlowD < SlowD[1] and SlowD[1] < SlowD[2] and highest(pivotLowReversal[0],2) == 0;
def entry;
def exit;
switch (direction) {
case "Long":
entry = pivotLowReversal;
exit = exitLong;
case "Short":
entry = no;
exit = no;
};