The remarkable thing to me is that this strategy can be broadly profitable on most stocks just using the built-in divergence signals between the 3 TMOs, and no additional filters like MAs or other trend filters. Thinkorswim Relative Strength TMO True Momentum Oscillator Scanner and Signals Column – Sidebar Then, by comparing the TMO output of each of these sources, we can identify points in time where the stock’s momentum first begins to outperform the overall market early on, while it’s still trading inside a base or pullback pattern. The relative strength ratio of the stock divided by the index symbol.A market index symbol such as SPX or /NQ.The idea behind this new script is to calculate the TMO for 3 different sources: TSLA Tesla TMO Relative Strength True Momentum Oscillator Strategy for Thinkorswim However, I’ve found that by combining it with Relative Strength, the results are truly impressive. The plain vanilla TMO is a great indicator in its own right, even by itself. This is the TMO, or True Momentum Oscillator, which you may have seen or heard of previously from Mobius. This is a new approach or strategy that I think is valuable enough to share with everyone on my site. Subscribe New TMO Relative Strength indicator and strategy set added to the existing Relative Strength set I hope these strategies are as intriguing to you as they were to me, and hopefully they will provide you a more quantifiable way to determine your edge in the market as well. But these ThinkOrSwim trading strategies may also provide edges on other instruments, and you can test them on whatever symbols you like to trade, to see if they can be applied profitably there as well. Most of these strategies come straight out of Larry Connors and Cesar Alvarez’s book “ Short Term Trading Strategies that Work,” and are specifically for trading the SPY, SPX, or ES futures. Wide Range Bar (WRB) Strategy, Scanner, and Indicator Set from Alphonso Esposito at TradeSmart University.Mean Reversion Gap Strategy, Scanner & Indicator Set from Adrian Manz at Trading Insight.My most recent strategies are all listed under the strategies category on the site, and here’s a quick reference list:
They can either be used to setup automated trading systems in other platforms, or traded manually within ThinkOrSwim and improved with price action trading principles. These ThinkOrSwim trading strategies can be traded standalone, or tweaked further and customized to fit an individual’s trading style. I’ve recently posted several strategy scripts to the website that identify quantifiable edges for my fellow traders. Subscribe New ThinkOrSwim Trading Strategies Published
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High Probability ETF Trading – FULL PACK OF 7 STRATEGIES!Įnter your email address to subscribe to this blog and receive notifications of new posts by email.Short Term Trading Strategies That Work – FULL PACK OF 7 STRATEGIES!.Pre-Market High Low Range Breakout Scan.Thinkorswim Bid-Ask Spread Lines Indicator.Tools for the Independent Trader + Digital Nomad.
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