This is a price momentum oscillator for ThinkorSwim. It is computed by taking the rate of change over N bars, then smooths that with an averaging function. In this case, it uses the Hull Moving average with a given period M.
It can be used as an indicator of relative strength, internal strength or price movement.
The indicator is a txt file, so you can either copy/paste the content into a new study in ToS or rename the file to a .ts extension and import it.
This indicator draws a horizontal line on the price panel showing where price is currently.
I found this in a post awhile back and am currently using it on a chart. When I looked for it in the DOWNLOADS section, I could not find it, so am posting it for other interested members.
This code allows lines to be drawn at regular price levels. I had this converted professionally from a NT7 indicator so I cannot assist with support.
The lines are customisable with the usual line options as well as the line length.
I hope someone else finds it helpful.
This is an indicator that looks for higher highs and lower lows. Inspired by John Carter's TTMScalper. Found on the NT forum. It's plotting price action based on higher highs, and lower lows.
If, used on it's own, it will give a lot of false signals, therefore it is recommended to be used in conjunction with other stuff that fits your trading stile and that's confirming your set-up.
August 5th, 2013 11:48 AM jmsUK Thanks for this. Was looking for an indicator which labels the extremes with the actual price, rather than points/ticks.
August 5th, 2011 04:19 PM jmjstrider I'm enjoying using the indicator. It will not allow changing thickness from the default of 3. Would be good if that co
November 24th, 2023 09:12 PM FundedTrader82 Works good on Gold.
April 26th, 2023 08:44 PM Blessedprofits Thank you for sharing the tool. How do you get it to print price at the end of each line? And how do you adjust the spac
ing?
October 8th, 2021 09:08 AM rickr Thx for your contribution
June 18th, 2021 09:15 AM tonylou Excellent visual indicator to show speed and range of the market.
It worked great on my desktop. I also installed on a laptop but the lined are off. I wanted the lines at a certain numbe
r but they seem to have a mind of their own. At least it works on my desktop...