Thinkscript examples

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Thinkscript is a programming language for the Thinkorswim trading platform that allows its users to backtest strategies and build tools such as watchlists, indicators, and more. Downloading and using Thinkscript is free, only when it comes to trading do the fees apply. Thinkscript can be thought of as a tool that allows you to run trading analysis, backtest strategies, build watchlists and set up alerts for financial data. To get started with Thinkscript, you will first need to download the app. In order to do this, go over to the following link and select your OS.

Thinkscript examples

I constantly look to this work for ideas and techniques. My Motivations: I found the pdf hard to read at times and I want the great work StanL did to live on. Perhaps this document can, more appropriately, be call an 'Almanac'. The PDF format was selected, with extra features, like the hyperlinked Table-of-Contents, to make subjects easily found. This document also proovides a reference for future coding activities. Hence being familar with what is available herein, will enhance recall when needed. A good PDF reader with search capability is also recommended. Click the underlined Page? Titles appearing in the Table Of Contents above are the same and colored blue throughout this document. For example, this symbol indicates when scan code is included. Many items herein originated on the those chatroom postings. Much credit and thanks are due those people. We are all grateful to them for their selfless contributions. Although a subject may not be of interest to you, the coding techniques involved may be pertinent to what you desire to code, either today or at some time in the future.

SetLineWeight 2 ; NearT.

Follow along with the video below to see how to install our site as a web app on your home screen. Note: This feature currently requires accessing the site using the built-in Safari browser. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets. We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders.

Follow along with the video below to see how to install our site as a web app on your home screen. Note: This feature currently requires accessing the site using the built-in Safari browser. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets. We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

Thinkscript examples

The fold operator allows you to perform iterated calculations. The list below explains the operator's logic variable names are taken from the sample syntax above :. The purpose of the fold operator is to perform an iterated calculation and assign the final value to the result variable.

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If you wanted to define a swing high as a bar high that is higher than the highs of the two bars just before it AND higher than the highs of the two bars just after it, the thinkscript code would look like this:. The best major signal come when the two oscillators line up. SetLineWeight 1 ; FullD. SetLineWeight 1 ; DwnArrow. Comment1: Re all crossover scans, refer to "Referencing other studies" for a complete explanation of the applicable rules for specifying parameters. This works if you have at least two days data on the chart. View indicator tutorial list. SetLineWeight 5 ; LowestLow. The first value is getValue price,n or price[0]. If you enter a futures symbol for the label while showing a stock chart, the label functions normally during stock trading hours but should be used along with a futures chart during stock-trading-off-hours. NaN, ga5, color. NaN; This finds the next high price value greater than 40 among the following bars and terminates looping if price is no longer a number.

At this very moment we presume that you are able to create a simple technical indicator as the most useful commands have been discussed in previous chapters. This script will plot a 20 period SMA of Close price with both length and price adjustable via the input parameters.

AddLabel is an excellent tool to observe a value for debugging purposes. The following code will establish those markers. Functions that take a look back value or length, such as average data, length , highest data, length , etc. To define a constant you can use the def command that is followed up by your custom constant name. Trading not recommended. The heart of the fold function is the 'do expression' which is crucial for success but is not naturally intuitive. If most datapoints are close to the average, the SD will be low i. If you are new, or just looking for guidance, here are some helpful links to get you started. Usage: The above two line are conditions that you use to restrict your data. Then select the asset you would want to trade. SetLineWeight 2 ; line.