Better Volume Indicators for Thinkorswim
Howto & Style
Introduction
If you're using the TD Ameritrade Thinkorswim platform for trading, you may find the default volume indicators lacking in clarity. In this article, we will walk you through how to improve the volume indicators on the Thinkorswim charts with easy-to-read labels for total volume, current bar volume, pre-market volume, and even create dual-colored volume bars to visualize buying and selling volume in each bar. You don't need any programming knowledge, just copy and paste the provided Think Script to enhance your trading experience.
When you first log into TD Ameritrade, you'll notice the default volume bars beneath the candles on the chart. These bars may be hard to read as they bleed into the candles. By customizing the settings and utilizing Think Script, you can create your own volume indicators that offer a more comprehensive view of the volume data. With simple steps like adjusting the appearance of the volume bars and adding custom indicators like total volume, current bar volume, last bar volume, pre-market volume, and dual-colored volume bars, you can better analyze market trends and make informed trading decisions.
If you're looking for a quick way to check the stock float or compare information across different financial websites, FlowChecker provides a user-friendly tool where you can enter a stock ticker and instantly access float data without any registration required. By following the steps outlined in this article, you can enhance your trading experience on Thinkorswim and gain valuable insights into volume trends that can help you navigate the market more effectively.
Keywords
Thinkorswim, TD Ameritrade, volume indicators, trading, Think Script, stock float, market trends, trading decisions, financial websites, FlowChecker, stock ticker, custom indicators, candlestick charts.
FAQ
Can I use Think Script on Thinkorswim without any programming knowledge?
- Yes, you can simply copy and paste the provided Think Script to customize your volume indicators on the Thinkorswim platform without needing any programming background.
How can custom volume indicators help improve my trading experience?
- Custom volume indicators like total volume, current bar volume, last bar volume, and dual-colored volume bars can provide enhanced visual representation of buying and selling volume, allowing you to make better-informed trading decisions based on market trends.
Is it important to compare volume data across different financial websites?
- Comparing volume data across various financial websites, such as FlowChecker, can help you validate the accuracy of the information provided by your trading platform and gain a more comprehensive understanding of market dynamics to support your trading strategies.