Champion Reversal Indicator ThinkorSwim TOS Script
$52.00
This video shows setting up the scan, running the scan, saving the results to a watchlist, and saving the scan itself so it can be reused again later. In the video, I set the scan up for searching 5 minute charts.
Champion Reversal Indicator ThinkorSwim TOS ScriptProduct DescriptionChampion Reversal IndicatorThe Champion Reversal indicator identifies potential reversals by monitoring RSI, Bollinger Bands, and number of same-colored candles. Champion Reversal IndicatorIdeal for mean reversion trading
Yes, it can be done. Note that I do not have eSignal; neither did I have access to the eSignal code for this indicator. My ThinkScript was reversed engineered based only on the screenshots and the written description at the link posted by the above requestor. eSignal version vs. thinkorswim version This indicator marks potential reversals by checking the following default parameters:
All parameters are user configurable from the script settings panel. If you want to be more aggressive, narrow the RSI overbought/oversold range or allow the reversal candle to be inside the bollinger bands. Download immediately Champion Reversal Indicator ThinkorSwim TOS Script I also added colored entry candles and initial stop levels. Additionally, I have written a script for the stock hacker scan tool that will find stocks which are setting up for a potential reversal according to the criteria mentioned above. This video shows setting up the scan, running the scan, saving the results to a watchlist, and saving the scan itself so it can be reused again later. In the video, I set the scan up for searching 5 minute charts. Other time frames may be used as well by selecting a different aggregation period from the drop down list. Note: the video does not have recorded audio. Technical Analysis Everything Else How to understand about technical analysis: Learn about technical analysis In finance, technical analysis is an analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume. |
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