Superlative Thinkscript Code

By in Day Trading on December 10, 2010

The following is a rough transcription of a video that talks about custom thinkorswim indicators.These guys are the premiere source for thinkscript code for the ThinkorSwim platform:

“The TSI method is brought to you by TSI – The TSI method is a trading system developed especially and specifically for futures and for stocks. It is comprised of seven core technical analysis indicators and seven core videos. These Dvd-grade videos are supplemented by a plethora of other videos that cover utilization and advanced techniques. The primary filter for the TSI Method is the WFRT Scalper. “WFRT” stands for “world’s first real time scalper”, and that is what it is. Unlike virtually every other scalper on this planet – which relies upon what’s called a three-bar or four- bar reversal – WFRT Scalper does not. For other so-called scalper indicators, when a change in trend is detected, then the indicator will plot an arrow or some other indication three or four bars back. That is not the case with this indicator. Every arrow that you see indicating either a scalp long or a scalp short is in real time. Just utilizing this indicator alone, a very sophisticated trading system can be developed. The second indicator utilized by the TSI Method is MoneyFlow Pro. MoneyFlow Pro is the best money flow indicator ever coded for any platform. The third indicator is TSI Compressor, a unique indicator which utilizes proprietary algorithms. The next indicator is TSI Accumulator, which likewise is unlike any other technical analysis indicator ever coded. It looks at the accumulation and distribution of institutional activity in the security in a completely novel and proprietary way. The next indicator we use is TSI TrendHammer, and this is our random walk analyzer.

“We incorporate pivot levels into the TSI Method. Normally when everything is set up correctly, we have it in automation mode. So that all of the pivot levels do not need to be seen. In fact, for most of our indicators, we utilize an automation mode, and we show you how to set that up, so that you do not have data compression on your screen and you do not have more information on the screen than you need to see. And finally, we use TSI Trailing Stop. And this is the equivalent of having a springboard or a trampoline beneath you, a net to catch you. And it shows you visually the way your trailing stop or whatever stop that you use as an entry, it shows you visually how that will function. In completion, we see that we have all of our indicators up. We utilize a 5-minute chart and a 1-minute chart, and going by the rules as set forth in our DVD-grade video instruction, we show you how you can identify which trades have institutional backing and institutional participation and which are just short term price fluctuations. We incorporate an additional method into theTSI Method called the “Turbo Scalp” which allows you to capitalize on every price fluctuation on the 1-minute time frame.

“This completes our video discussing the TSI Method. It is unique. Our indicators are coded exclusively for the ThinkorSwim trading platform, and we believe that we are looking at ways to interpret institutional participation in your security in a completely novel and unique way. We encourage you to visit to learn more. And we will be talking to you soon.”

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