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Thinkorswim Custom Scan knowledge would help
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Created: by DougN Attachments:2

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Thinkorswim Custom Scan knowledge would help

Elite Member
Scottsdale, Arizona, USA and Puerto Penasco, Mx
Trading Experience: Intermediate
Platform: Ninja 7, TOS
Favorite Futures: YM, ES, GC, CL
DougN's Avatar
Posts: 42 since Nov 2013
Thanks: 35 given, 33 received

Thinkorswim Custom Scan knowledge would help

Below is a custom scan that I found on another blog (Big Bull and Big Bear). I'd really like to see it work but unfortunately no luck so far. A couple of messages have gone unanswered by the blogger so maybe someone here can help.

With only a bit of experience applying custom indicators to Thinkorswim this is the first scan that I have attempted. When the code is pasted into the applicable entry box the result is several error messages. Possibly the updates in TOS have just made the code obsolete?

Any help that you could provide would be much appreciated. Below is the full copy of the original post. Originally I included here a link and image of the chart that he showed but because I am new here the system would not accept my post with a link or an image attached.

As the blogger wrote:
"This scan is to quickly find the stocks that have this Wedge pattern or Dragon pattern
Easy way to find this was pointed out today by our friend Laser today. He has this setup in TC2000 and Telechart. Another friend Mautzman has used this very successfully.

I am putting this in ThinkorSwim for the folks who cannot access TC2000 or Telechart.

First Custom Scan: Price Linear Regression 44 days

#Big Bull and Big Bear LLC

def MiddleLR = InertiaAll(close, 44);
plot buy1 = middleLR > middleLR[10];

Second Custom Scan: Volume Linear Regression 10 days
#Big Bull and Big Bear LLC

def MiddleLRVol = InertiaAll(volume, 10);
plot volbuy =middleLRvol < middleLRvol[5];

Third Custom Scan: Top Band Linear Regression 10 days
#Big Bull and Big Bear LLC

def price = 1.01*High;
def TopbandLR = InertiaAll(price, 10);
plot toplr =topbandLR < topbandLR[5];

Fourth Custom Scan: Lower Band Linear Regression 10 days

#Big Bull and Big Bear LLC
def price2 = 0.99*Low;
def LowerbandLR = InertiaAll(price2, 10);
plot lowerlr =lowerbandLR > lowerbandLR[5];

I run this scan on the stocks that show on a very good tool called Bluefin developed by a friend Dan Cummiskey at Patient Fisherman.

As Dan has pointed out multiple times, one should to be in the best performing stocks in the market. In Bluefin, Dan has filtered out the strongest stocks by various methods.

Now one need to go through this entire list and using elbow grease, need to identify trade able pattern and subscribe to alerts.

Thinkorswim, Freestockcharts and TC2000 has good systems for setting up alerts."

1.Fibs 2.??? 3.Profit
Puerto Rico
Trading Experience: Intermediate
Platform: thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: ES
rmejia's Avatar
Posts: 384 since Oct 2010
Thanks: 3,599 given, 429 received

Is this 4 scans or 1 scan with 4 filters?

How are you adding the filters? I went to:
1. Scan Tab - Stock Hacker
2. Several ways to do this next step, could go on load scan query and drop down to Create New Scan Query or on the existing tab just delete all default criteria.
3. Next on the right, Add Study Filter
4. Will default to ADXCrossover, there dropdown to custom
5. In custom go to the second tab, thinkScript Editor
6. Highlight everything and paste over that the code, then hit OK
7. That should be it, 1 filter applied. Save Scan Query or add the other 3

Attached Thumbnails
Thinkorswim Custom Scan knowledge would help-2013-11-25_1527.png   Thinkorswim Custom Scan knowledge would help-2013-11-25-watchlistscanner.png  
The following user says Thank You to rmejia for this post:
Elite Member
Scottsdale, Arizona, USA and Puerto Penasco, Mx
Trading Experience: Intermediate
Platform: Ninja 7, TOS
Favorite Futures: YM, ES, GC, CL
DougN's Avatar
Posts: 42 since Nov 2013
Thanks: 35 given, 33 received

In his original post he shows a chart of one symbol found by his scan. I assume it would be several filters to produce the results.

I'll try to reproduce your work.

Thanks and nice job!

P.S. added all four filters and the scan works perfectly. Thanks again rmejia!

Last edited by DougN; November 25th, 2013 at 02:56 PM. Reason: added P.S.


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