This yearly reclimb indicator provides a sortable watchlist column that you can use to find stocks trading at or near their yearly or 52-week highs and lows.
This is a custom quote column or watchlist column for ThinkOrSwim that shows the percentage that a stock in your list has reclimbed from the 52 week low toward the 52 week high. So if the yearly high is $100 and the yearly low is $0, and if the stock is currently trading at $60, then the reclimb indicator would show 0.6 for 60% of the year’s range.
This ThinkOrSwim indicator helps you sort your watchlist by yearly low-to-high reclimb, and find either stocks that are about to break out over their 52-week highs, or bottom-pick value stocks that are trading at or near their 52-week lows.
I’ve noticed before that sometimes TD Ameritrade makes it really hard to find where to download the ThinkOrSwim platform. I can’t tell you how many times I’ve been at a new computer somewhere, wanting to trade or program something, and had to go search around the ThinkOrSwim website for what seems like a completely unreasonable amount of time to find the download link. So I finally decided to help myself and my fellow swimmers out by posting the direct links here on an easy-to-access page that can be easily bookmarked too, if needed frequently. So without further ado, here are the ThinkOrSwim download links:
Once you complete the download and launch the installer, here’s a quick final thought on installation options. If it makes sense in your situation, I would definitely suggest choosing the option to “install for all users,” especially if you plan to share or install any thinkScripts in the future. The ThinkOrSwim platform’s sharing links don’t really work as well unless the platform is installed for all users of the computer.
The reclimb indicator for ThinkOrSwim shows you how far a stock has retraced its daily range so far. Reclimb is defined as the amount of the daily range that has been recovered after making a new low, expressed as a percent of the day’s total range from high to low. So if a stock opens at 9.50, falls to 9, then makes a high at 10 before falling back to 9.75, then the stock’s Reclimb is .75, or 75% of the daily range of $1 between $9 & $10. The same would be true on a down day, where the stock opens at 9.75, climbs to 10, falls to 9, and then reclimbs to 9.50 — in this case the reclimb is 50% or .5 of the daily range of $1 from 9 to 10.
This indicator can be used either as a lower study on a chart, or as a custom quote column in a watchlist or scan.
Hi guys, I’m Josiah, and I’m a trader/programmer from the Nashville, TN area. I recently finished up both a bachelor’s and a master’s degree in Computer Information Systems at a local university and have been self-employed since then, trading and developing projects with Ruby on Rails on the side. Since I was already familiar with a certain amount of programming, and had an active interest in trading and investing, learning ThinkScript — the scripting language for the ThinkOrSwim platform — made a lot of sense, and helped me develop a platform configuration that really streamlined my trading workflow.
About the ThinkScripts
These basically came about because I got so frustrated with the limited built-in capabilities in TOS, and standalone subscription services that charge $99+/month. So I decided to learn ThinkScript so I could develop indicators and scans for myself. I still use most of these thinkscripts every day while trading.
Josiah is a stock trader, thinkScript programmer, real estate investor, and budding mountaineer. He's also rumored to be an in-shower opera singer. Josiah & his family live in Nashville, TN. Twitter | YouTube
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.