I’ve been asked many times, how I’m able to produce buy and sell signals. I thought it would be very helpful to the trading community to show you guys a ThinkorSwim, Thinkscript tutorial. Everyone has made videos about how to build custom scanners but not many videos on how to build your own algorithm using Thinkscript. In this video, I show you how to build a custom algorithm that produces buy signals using the MACD indicator. I used the MACD just as an example but you can script for any indicator you like and use. If you have any questions, please comment them down below and I will try to help you as much as I can with the limited knowledge that I have. If this video was helpful, give it a thumbs up and don’t forget to subscribe.
Below are the custom scripts for the arrows. Copy and Paste them into your script wizard.
Up Arrows:
def Condition1 = if
then 1 else Double.NaN;
plot x = Condition1;
x.SetPaintingStrategy(paintingStrategy = PaintingStrategy.BOOLEAN_ARROW_UP);
————————————-
Down Arrows:
def Condition1 = if
then 1 else Double.NaN;
plot x = Condition1;
x.SetPaintingStrategy(paintingStrategy = PaintingStrategy.BOOLEAN_ARROW_DOWN);
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