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hello there,
I would like to know if its possible to have ThinkOrSwim show an arrow on the market reversal.
for example if the market its going Up and then there is a reverse and goes down to have an arrow pointing down due to a reversal. is this possible ?
What parameters define what a market reversal is. If you use indicators like zig-zag, moving average crossovers, etc. you can plot an arrow when they cross or change direction given their defined parameters.
Rmejia..that's really nice..
I was able to import and use them but I am a little bit confused by the fact that its not really showing it..
I just wanna find out what type of indicator is this like zig-zag and such
the bold red line resistance at top and bold yellow line support at the bottom are a PriceChannel (0,30)
Not sure what you mean by not showing it. If you are looking for a specific indicator it is going to be hard, there is a plethora of indicators in thinkorswim. The indicator making the yellow arrows is not a crossover or zigzag. If there was a bigger screenshot the names of the indicators appear on the line on top of the chart; besides from that it becomes a guessing game.
some timelater... hahaha, i saw this old post on this indicator, by a chance, i have some information on that "reversal arrow", i dont either know what it could be, it comes from an inclined straight line, and the confirmation is horizontal to enter the trade, probably a zigzag confirmer with ATR? thats why it ends with a diferent indicator. i know that is a very wanted indicator, i leave attached here any information possible, maybe someone knows from what indicator is by knowing possible settings.
Someone with experience can identify other thing than a price channel + envelopes?, seems that this settings (20, 0.05) are 20 from a PC length and the 0,05 of an envelope channel ( minimum setting available for envelopes to work). Any other ideas?
Im looking for a mean reversion system.
