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New Post has been published on http://patternsmart.com/wp/alert-is-not-supported-in-scan-and-custom-quote-in-thinkorswim/

Alert is not supported in SCAN and custom quote in thinkorswim

Alerts can't be used in SCAN and custom quote. We cannot put an alert script into a custom quote or SCAN and expect it to function.

- Thinkorswim TOS, thinkScript

#Thinkorswim TOS #thinkScript #Thinkorswim

New Post has been published on http://patternsmart.com/wp/secondary-aggregation-period-cannot-be-less-than-the-primary-aggregation-period-in-thinkscript/

secondary aggregation period cannot be less than the primary aggregation period in thinkscript

Code:

plot weeklyClose = close("IBM", period = AggregationPeriod.WEEK);

This code plots weekly Close price for IBM. Interesting thing is that the IBM chart does not have to be opened to plot the Close price: it will be plotted on chart of any symbol you specified in chart settings. There is, however, a restriction in terms of time aggregation: secondary aggregation period cannot be less than the primary aggregation period defined by chart settings:

Code:

plot yesterdayHigh = High(period = AggregationPeriod.DAY)[1];

Designed to plot the High price reached on the previous day, this script will not work on weekly charts. - thinkScript

#thinkScript #Thinkorswim

New Post has been published on http://patternsmart.com/wp/two-different-secondary-aggregation-periods-cannot-be-used-within-a-single-variable-in-thinkscript/

two different secondary aggregation periods cannot be used within a single variable in thinkscript

Another restriction is that two different secondary aggregation periods cannot be used within a single variable:

Code:

plot Data = close(period = AggregationPeriod.MONTH) + close(period = AggregationPeriod.WEEK);

This script will not work on daily charts. In order to make it work, you need to break into two variables:

Code:

def a = close(period = AggregationPeriod.MONTH); def b = close(period = AggregationPeriod.WEEK); plot Data = a + b;

- thinkScript

#thinkScript #Thinkorswim

New Post has been published on http://patternsmart.com/wp/three-types-of-aggregation-in-tos-charts-thinkscript/

three types of aggregation in TOS Charts thinkScript

So far, we have learned many things about the bars on charts and values which can be calculated for them. But we never discussed the way they are formed (or, aggregated). In TOS Charts, three types of aggregation are available: time aggregation, tick aggregation, and range aggregation. Time charts represent price action in terms of time: a new bar (or candlestick, line section, etc.) is plotted after completion of a certain time period (called aggregation period). For example, the 1y D bar chart plots the price action for one year, marking Open, High, Low, and Close prices on the daily basis. Tick charts represent intraday price action in terms of quantity of trades: a new bar (or candlestick, line section, etc.) is plotted after completion of a certain number of trades (ticks). This aggregation type can be used on intraday charts with time interval not greater than five days. For example, the 2d 133t bar chart plots the price action for two days, defining Open, High, Low, and Close prices every time the number of trades becomes equal to 133. Range charts represent price action in terms of price accumulation. Three modes of range aggregation are available in TOS Charts: Range Bars, Momentum Bars, and Renko Bars. However, these are not the subject of this chapter as we are going to discuss time aggregation in thinkScript® (information on range charts is available here). All scripts we created before were the ones using aggregation period defined in chart settings. In order to access data of a different aggregation period in your code, specify the period parameter using the corresponding Aggregation Period constant. You can also use a pre-defined string value for this purpose:

Code:

1 min, 2 min, 3 min, 4 min, 5 min, 10 min, 15 min, 20 min, 30 min, 1 hour, 2 hours, 4 hours, Day, 2 Days, 3 Days, 4 Days, Week, Month, Opt Exp,

Code:

. Here is an example script:

Code:

plot dailyOpen = open(period = AggregationPeriod.DAY);

This script plots daily Open price for the current symbol. - aggregation, Thinkorswim TOS, thinkScript, timeframe, TOS

#aggregation #Thinkorswim TOS #thinkScript #timeframe #TOS #Thinkorswim