Premarket Gap Scanner for ThinkOrSwim:
This video shows how to customize the volume, average volume, price ranges, and average true range / ATR parameters for my Pre-market Gap Scanner package for ThinkOrSwim.
Every trader is different, and we each focus on different types of stocks. Maybe you like playing opening drive momentum trades on low-float stocks early in the morning. Maybe you’re looking to play the first pullback on a trend day. Or maybe you’re looking for 1-2-3 patterns on 2 and 5 minute charts.
All of these plays might require different volume, average daily volume, and average true range requirements when you’re scanning for gaps in the pre-market. So this video will walk you through how to change and customize those settings in ThinkOrSwim, without having to do any coding in Thinkscript.
Find out more and purchase the scanner at this link:
ThinkOrSwim’s built-in scans don’t allow you to scan for gaps in the pre-market, they only work after the open. Because of this, most traders are forced to pay huge monthly fees for premium scanners like Trade-Ideas or Pristine’s ESP scanner. So I developed these custom scans using TOS ThinkScript to help find the best stocks forming gaps in the premarket, using the free market data and scanning tools in the ThinkOrSwim platform.
The Pre Market Indicator for ThinkOrSwim does just what you would assume: it plots the pre-market high and low range as lines on your chart, both during the pre market hours and the regular trading hours of the day. This way they can be used as automatic support and resistance indicators for the rest of the trading day.
You can specify if you want it to show the premarket range for today only, or all days visible on the chart. You can also easily change the line weight, style, pattern, and color. The pre market indicator is made for use with intraday charts only, and you must have “show extended hours” option checked on the chart you want to use it on.
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.