This week I released one of my new favorite studies, Relative Strength, which instead of plotting relative strength as a basic close line graph, it can plot it as a candle chart or a bar graph, so you can trade relative strength price action. It also includes a bunch of extra features that the normal line graph study doesn’t have, such as moving averages, 4 breakout/breakdown signals, 6 bullish and 6 bearish divergence signals over multiple periods, etc. Check it out here.
I’ve also posted some updates to both Big Levels and Premarket Range to add optional summary labels to each one. That way you can use them just to display information on your chart, without any lines, or you can use just the lines, or you can use both together.
Thinkorswim higher timeframe daily or weekly levels
As always, prior purchasers get upgraded for free, so just log back in to your My Account > Orders page, and click the green “View” order details button beside your old order. The new links should be there waiting.
Multiple Timeframe OHLC Levels Indicator for ThinkOrSwim
The multiple timeframe OHLC levels indicator plots the open, high, low, and/or close for a specified time frame (hour, day, week, month, etc.) on a lower time frame chart.
Say you’re trading on a 5 minute chart, and you want to be aware of important nearby price levels. You can add the OHLC levels for the prior day, prior week, prior month, etc. You can also add the levels for the current day, week, month, etc., or 3 days ago, or any other combinations you can think of.
In addition, you can selectively turn off certain values you don’t want (the closing price for the current day, for instance). The indicator automatically takes premarket data into consideration if you have it displayed on the chart, or ignores it if it is turned off, and just uses the regular hours OHLC values instead.
These levels can be incredibly important. I’ve found several levels to be of particular importance: yesterday’s range, last week’s range, and often last month’s range. When you’re a few days into a new trading week, the current week’s range can also be important. I’ve also found the pre market range and the initial balance range to be important as well if you want to add some additional automatic support and resistance points to your chart.
Take a look at the example below and you can easily see how prices tend to respect the OHLC levels from current and prior days and higher time frames.
Multiple Timeframe OHLC levels indicator with Prior Day showing
About Josiah
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. Click here to follow Josiah on Twitter.
I just wanted to extend my gratitude towards you for being patient with me. Now that I understand the concept of how to use the indicators safely I decided to purchase 2 more products from you website... I am very pleased and will be looking to purchase more products from you in the future... Cheers!
Wil H.
Swimdicators
5
2017-09-14T12:23:36-05:00
Wil H.
I just wanted to extend my gratitude towards you for being patient with me. Now that I understand the concept of how to use the indicators safely I decided to purchase 2 more products from you website... I am very pleased and will be looking to purchase more products from you in the future... Cheers!
https://easycators.com/testimonials/wil-h/
I just recently purchased the Z-Distance from VWAP indicator from you a few days back. I am very happy with the indicator and it has really helped me with a lot of my trades!
-Ali M.
Swimdicators
5
2018-04-14T13:03:57-05:00
-Ali M.
I just recently purchased the Z-Distance from VWAP indicator from you a few days back. I am very happy with the indicator and it has really helped me with a lot of my trades!
https://easycators.com/testimonials/ali-m/
Thank you so much ... I appreciate the work your doing and sharing with the TOS community.
Bill F.
Swimdicators
5
2017-09-14T12:24:21-05:00
Bill F.
Thank you so much ... I appreciate the work your doing and sharing with the TOS community.
https://easycators.com/testimonials/bill-f/
I purchased your Pre-Market Gap Scanner a while back and I use it every day. Works great!!
-Stephen K.
Swimdicators
5
2018-04-14T13:07:47-05:00
-Stephen K.
I purchased your Pre-Market Gap Scanner a while back and I use it every day. Works great!!
https://easycators.com/testimonials/stephen-k/
I appreciate you extending you time to get me up and running and your customer service.
Wil H.
Swimdicators
5
2017-09-14T12:50:09-05:00
Wil H.
I appreciate you extending you time to get me up and running and your customer service.
https://easycators.com/testimonials/wil-h-2/
Just want to let you know that I really like you work. Awesome! Thanks for your help.
Rodrigo C.
Swimdicators
5
2018-04-14T13:23:23-05:00
Rodrigo C.
Just want to let you know that I really like you work. Awesome! Thanks for your help.
https://easycators.com/testimonials/rodrigo-c/
Thank you very much for your help... everything turned out great with the code.
Alex M.
Swimdicators
5
2017-09-14T12:58:50-05:00
Alex M.
Thank you very much for your help... everything turned out great with the code.
https://easycators.com/testimonials/alex-m/
Amazing work. Love this new indicator. I actually made 2 versions of it and it works great. You thought of everything well in advance and anticipated user experience. Your work is superb.
Jeremy B.
Swimdicators
5
2018-06-23T12:40:56-05:00
Jeremy B.
Amazing work. Love this new indicator. I actually made 2 versions of it and it works great. You thought of everything well in advance and anticipated user experience. Your work is superb.
https://easycators.com/testimonials/jeremy-b/
Josiah, love the video! Don't think that the additional $50 I just sent today was in error... sent to say thank you because you have gone above and beyond. Thanks again for all your help!!!!!
L.G.
Swimdicators
5
2017-09-14T13:07:38-05:00
L.G.
Josiah, love the video! Don't think that the additional $50 I just sent today was in error... sent to say thank you because you have gone above and beyond. Thanks again for all your help!!!!!
This website uses cookies to improve your experience. We'll assume you're okay with this, but you can opt-out if you wish. Accept | Read More
Privacy
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
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.