Advanced Stochastic Divergence SCAN for Thinkorswim TOS

Advanced Stochastic Divergence SCAN for Thinkorswim TOS

This customized scanner will find all Positive/Negative (bearish/bullish) Stochastic Divergence based on your settings.

Link:http://www.patternsmart.com/cart/index.php?route=product/product&path=57_79&product_id=278

 

The algorithm of this SCAN is same as our Stochastic Divergence indicator.

This Advanced scanner is specially made for experienced traders.

For example, you can search Stochastic Divergence signals in a short range, such as 15 bars(applicable to any time period).

You can also search in a long range, such as 60 or 100 bars. Furthermore, you can specify the percentage of price change between 2 Highs and the percentage of Stochastic value change which are used to find the Divergence.

It makes possible to scan on very complex conditions.

Example 1, scan Negative (bearish) Stochastic Divergence if current High is the peak within 15 bars, and it's 5% greater than the peak from 25 bars ago. At the same time, the current Stochastic value is 8% less than the Stochastic value of that peak from 25 bars ago.

Example 2, scan Positive (bullish) Stochastic Divergence if current Low is the trough within 5 bars, and it's 3% less than the trough from 15 bars ago. At the same time, the current Stochastic value is 10% greater than the Stochastic value of that trough from 15 bars ago.

Features:

• You can change all Stochastic (Relative Strength Index) parameters:
  • length: The number of bars used to calculate the Stochastic.
  • price: The price used to calculate the Stochastic.
  • average type: The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.
• Length 1&2: Define the range of bars which are used to calculate the recent High and previous High, as shown in picture.
• Percent: The difference between High1 and High2, as shown in picture.
   
• Stochastic_Percent: The difference between Stochastic1 and Stochastic2, as shown in picture.
• Scan in many time frames, 5mins, 15mins, 30mins, 1 day, 1 week, 1 month.
• Applicable for all securities(Stocks, Futures, Forex, Options,ETF, etc.).

 

Regular price: $99.
$99, $29 with purchase of our Stochastic Divergence indicator.

Stochastic Divergence signals Custom Quotes for Thinkorswim TOS

Stochastic Divergence signals Custom Quotes for Thinkorswim TOS

This custom study will help you to quickly identify the Stochastic Divergence signals in the Watchlist.

It will detect all Positive/Negative (bearish/bullish) Stochastic Divergence based on your settings.

The algorithm of this Custom Quotes is same as our Stochastic Divergence indicator.

Features:

• You can change all Stochastic parameters:
  • length: The number of bars used to calculate the Stochastic.
  • price: The price used to calculate the Stochastic.
  • average type: The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.
• Length 1&2: Define the range of bars that used to calculate the recent High and previous High, as shown in picture.
• Percent: The difference between High1 and High2, as shown in picture.
• Stochastic_Percent: The difference between Stochastic1 and Stochastic2, as shown in picture.
• Available in all time periods and Applicable for all securities.
• You can set multiple columns to display prices in various time periods.
• Sorting the list based on your own preferences.

Regular price: $99.
$99, $29 with purchase of our Stochastic Divergence indicator.

 

Stochastic Divergence indicator for Thinkorswim TOS

Stochastic  Divergence indicator gives possible reversal signals when there are discrepancies between Stochastic and price movement.

Buy now

Divergence emerges when price and oscillator indicator move in different directions.

For instance, an uptrend Negative Divergence occurs when price reaches a higher high, but the indicator fails to follow. In a downtrend, positive divergence occurs when price reaches a lower low, yet the indicator does not reach a lower low.

For the most part, oscillator indicators and price trailing each other and move in the same direction. However, when they start to drift apart, the current trade may consolidate or exhibit a reverse pattern. 
 

Features:

1. Alert: provide both sound and message alert whenever a divergence is found. You can turn it on or off.
    
2. Length 1&2: Define the range of bars which are used to calculate the recent High and previous High, as shown in picture.
    
3. Stoch _mode: Choose "Upper" to only plot signal arrows on price chart.
   Choose "lower" it will plot as a Stochastic  indicator with divergence signals.
    
4. Percent: The difference between High1 and High2, as shown in picture. 
    
5. Stoch_Percent: The difference between Stochastic 1 and Stochastic 2, as shown in picture. 
    
6. All Parameters of Stochastic : Adjust the inputs of Stochastic  indicator.
    

How to use:
The purpose of divergence indicator is to point when price  trend are moving into  opposite direction.
Negative divergence:
First of all, we need to locate the recent High1 and its Stochastic 1 value within the given range(lenght1).
Secondly, we find the previous High2 and its Stochastic 2 value within the given range(lenght2).
Then we compare the ratio of these 2 Highs and Stochastic  values to determine if they meet the percentage you set.

For example, if you set "percent=3", then it will check if High1 is greater than High2 by 3%. If you set "Stoch_percent=5" then it will check if Stochastic 1 is less than Stochastic 2 by 5%.
If both percent conditions are met, there will be a red arrow pointing downward.

Positive divergence:
The indicator will find the recent Low1 and its Stochastic 1 value within the given range(lenght1).
And then it will find the previous Low2 and its Stochastic 2 value within the given range(lenght2).
If you set "percent=1", then it will check if Low1 is less than Low2 by 1%. If you set "Stoch_percent=5" then it will check if Stochastic 1 is greater than Stochastic 2 by 5%.
If both percent conditions are met, there will be a green arrow pointing upward.


Please note: in order to plot this indicator on both price chart and lower chart, you need to load it in two places. And set Stochastic _mode to "Upper" in Price chart and Stoch _mode to "lower" in Lower chart. As shown in the following picture.
If you want the same signals on both charts, all parameters have to be consistent on both sides.


This indicator works in any time period and applicable for all securities(Stocks, Futures, Forex, Options,ETF, etc.).
When you use this indicator in minute chart, it's better to set "percent" less than 1, otherwise, lots of signals will be filtered.

If you want to add any feature to this indicator, please send us a Customization request.