Today I’ve released updated versions of the All-In-One Gap Scan and the % and $ Gap Columns.
The improvements to the columns were just to fix a small error I found. But for the scan, several big improvements have been implemented …
- Choose both min/max gap % size
- Choose both min/max gap $ size
- Choose whether you only want to scan for gaps that haven’t filled yet
- Choose whether the gap needs to be “significant” — i.e., gapping above the prior high, or below the prior low (completely outside the range of the prior day’s candle)
- Choose whether the gap needs to be a “pro” or “tier 1” or “shock” gap — i.e., gapping over a prior day red candle, or gapping under a prior day green candle, adding “shock value” to the gap
This single all-in-one scan works during the extended hours / premarket / aftermarket, and continues working as the regular trading hours begin, so you only need to use one scan all day long.
The other change is that the $ and % values are now all calculated from the prior close instead of the high/low, just for consistency, and whether the gap is over/under the prior day’s candle is specified as a separate criterion in settings, which can be turned on/off at will. This will help keep things consistent and logical no matter what type of trading you do.
FInd out more here: http://easycators.com
This video describes how to install custom indicators, scans, and quote columns into ThinkOrSwim, either with shared item links, or with the actual code, or with STUDY.ts files.
I noticed that there is not very much information out there on the Options Hacker option scanner for Think-Or-Swim. So I wanted to do a quick ThinkOrSwim tutorial on Options Hacker and at least note some of the differences between it and Stock Hacker.
So I made this short video where I show you how to set up a customized options scan in think or swim. I also show you how to add stock filters, option filters, and custom study filters for the underlying stock. I show you how to narrow and sort the results, and finally, how to save the scan to use later.
Trading options can be a lot more complex than stocks, forex, or futures. Spreads can be dreadful. It can be hard and time consuming to find the best stock option to use. So traders need all the help they can get. Proper use of Options Hacker can really speed up analysis and trade qualification, so it can be highly beneficial.
Let me know in the comments if you have any questions. Meanwhile, feel free to checkout the accompanying ThinkOrSwim tutorial on our blog at https://easycators.com/thinkorswim/tutorials/thinkorswim-tutorial-scanning-options-hacker/