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Just a heads up to those of you on TOS. Yesterday's update had many new and exciting improvements.
They introduced Renko and Momentum bars with many custom levels. I love my thinkorswim. Check out the new release info on your TOS home screen main article.
For example, it will not allow you to use custom range bars say range of three
But when I pull up an old chart and switch it to range it will pull up .0002 which I have never used or it will pull up on a different chart .0003 which I have used
It does not allow you to go to anything less than .0005
NEW! Strategy Roller™ BID/ASK Charting
Dollar and Percent Orders *Coming Soon*
Renko and Momentum Charts
Studies from Technical Analysis of Stocks and Commodities
A Few More Plums for the Pudding
Yes, after being on the phone with TOS for more than an hour and technical support could not respond to my questions, it turns out the YTD data is not live but historical. The numbers populate the day following the close to form the charts.
I tried using renko on TOS but looks like its an issue with the renko charts. Because How can bricks which are once formed disappear. I tried talking to helpdesk they are clueless and dont fix this issue as they fix issues in priorirty.
At one point I got a hold of a tech guy that could explain how TOS constructed Range Bars. Now my understanding is that Range bars by definition eliminate time. Tos range bars are based on One minute Time bars. So range bars are formed within that one minute time bar and then a new set of range bars start as soon as the one minute bar is done. If you trade YM there are times when with in one minute it can go down 40 points and
head back up all in the same minute. Tos range bars will form on the way down, but erase themselves on the way back up if that one minute time bar is not done. In fairness once the one minute bar is done, phantom bars are created and back fill where price has been but that's not something I want to live with. Of course no Volume studies of any kind are permitted with range bars. There is also a time limit of about 2 hours so that if the set range is not reached a new range bar starts any way. Range bars, momentum and I think Renko are all based on the One minute time bar theme. To me it renders them useless. I had hoped that enough people would squawk and they would change this. I doubt it. It's to bad , I know using tda data range bars work perfectly on Quote Tracker and all volume studies work there as well. No futures are available for 3rd party software though. Well, I like range bars but I can live without them.
