I sit down to write this on a historic day. Many of us in Chicago and across the globe have waited years for this to happen. Saying the words over and over. Staying with our superstitions no matter how obscure. Telling our moms that they missed another one and that we will get the next one. But I come humbled and honored to announce that today, after 108 full build cycles, our developers have finally learned two complete baseball analogies!
Go, TOS, Go!
On November 19, 2016, thinkorswim released build number 1894. Features include:
The Earnings Tab
The Earnings tab brings to one place all of the critical information needed to analyze the pricing and volatility movements of a security around its historical earnings events.
- On the Fit All and Zoom sections of the page, each of the previous eight quarters’ earnings events are shown side by side along with five days of pricing and volatility data before and after the event
- For each quarter, you can view the stock’s price history, the historical and implied volatility, the price of the at-the-money straddle (expressed as a percentage of the stock price), and the projected and actual earnings for the security in a comparison format
- For each historical earnings period—and the next upcoming earnings period—you can view the projected range from Wall Street analysts, as well as the crowd-sourced earnings and revenue estimates from our new partner Estimize
- The entire two-year period can be viewed simultaneously using daily data on the Fit All tab or be zoomed in to show intraday (30-minute aggregation) data on the Zoom tab
The Compare tab allows you to overlay the most important price and volatility measures of each historical quarter.
- The different measures of volatility and pricing can be filtered using the checkboxes on the left-hand side. There is also a set of checkboxes to control which quarters are displayed.
- In addition to a quarter-by-quarter filter, different quarters can also be filtered by whether they beat, met, or missed the earnings or revenue estimates of either Wall Street or Estimize using the Filter button at the top left of the Compare screen.
It’s clear that candlestick patterns are all about the name. From “Concealing Baby Swallow” to “Identical Three Crows,” it seems as if all the innuendoes and hidden market slander have been accounted for. But in the event that your personal favorite pun has yet to be taken, we are giving you the ability to create your very own candlestick patterns. Now you can create patterns that include any number of up, down, or doji candles with any given relationship to one another. This is all done with a drag-and-drop interface so there is no need to write any code or understand fancy thinkScript functions. Just draw the pattern you want to see.
- Creating your own candlestick patterns is done from the same location as selecting them on your chart.
- From your Charts, choose “Patterns” and “Select Pattern.” Once you are on the Candlestick tab, you will see the Create button at the bottom, which will bring you to the Candlestick Pattern Editor.
- From the editor, you can define each individual as an Up Candle, Down Candle, Doji, or a Mix group of candles. This is done by clicking the plus sign on the undefined candle.
- Once defined, the Open, High, Low, and Close of each candle can be associated with any other price point on another candle. This is done by dragging one point and dropping it on another point. The wizard will ask you to define the condition, and the candles will adjust appropriately.
- If dragging and dropping is not your style, you can use the drop-down menus below the candles to edit the candles and your conditions instead.
- Once your candlestick patterns is built and properly named, the fun begins. The pattern works just as any prebuilt candlestick pattern; an icon of your choice will be placed above or below the final candle in your pattern. This icon is chosen with the drop-down at the top of the Candlestick Pattern Editor.
- Just like all the existing candlestick patterns, these are written in thinkScript, which allows you to copy the source code out and use it throughout the software. Scans, alerts, and even trigger orders can be tailored to use your newly created pattern.
- We have added a new category to the Study filters on the Scan tab. The new category titled User Defined Patterns contains all your created patterns.
The Active Trader Ladder
There is no better tool for trading in fast market than the Active Trader Ladder. Since this tool is almost always accompanied by a chart, we decided to bring them even closer together. You can now add indicators of your studies to the Price column of the Active Trader ladder.
To add the icons, right-click on any column header of your Active Trader ladder and check “Show studies from chart”
- This will add small indicators next to the price for any upper study that is plotted on the chart associated with your ladder
- The colors will match the colors of the plotted chart study
- Multiple studies plotted on your chart will be displayed as different symbols—circles, upward triangles, downward triangles, diamonds, and squares, in that order
- Hover over the indicator shown for details; of course, you can trade from these indicators by right-clicking, but they were designed next to the price level so that you can simply click on the “Bid Size” or “Ask Size” price just as you always have with the Active Trader Ladder
- At this point trades are not tied the value of the plot; they are just sent at the price chosen
Product Depth Futures Curve Enhancements
Admittedly, this tool is not for the first-time, fresh-out-of-the-box trader, so as a prerequisite to this bullet point, you may want to type “Product Depth Curve” in the search bar. In short, you can see the change in price contract over contract for any futures product. We have added some alignment features that really help you understand the slope of the curve when making adjustments or comparing to dates in the past.
- When the time axis is locked, you will see that the dates are now listed as Ms. 1M, 2M, 3M, etc. This represents the number of the contract month you see from the start of your charted symbol
- This feature allows you to keep the same slope of your curve even if you remove any contract from the curve
- With a locked time axis that is drawn as the number of the plotted month, you have a more pure view of the slope if you want to compare the current futures curve with how the same curve looked in the past
I doubt you are keeping score, but we have many more studies than any charting package we can find. We know this because we are keeping score. So here are six new studies and seven new strategies to further the gap. All of these are from our friends at Technical Analysis of Stock and Commodities Magazine, and all the details can be found by clicking on the name.
- Studies: MiddleHighLowMA, EhlersAutocorrelation, EhlersAutocorrelationPeriodogram, ATRHighSMABreakoutsFilter, SuperPassbandFilter, EfficiencyRatio
- Strategies: MiddleHighLowMAStrat, ATRHighSMABreakoutsLE, ADXTrend, VHFTrend, ERTrend, R2Trend, TrendFollowingStrat
- We have added a new function in thinkscript called GetTime().
- When using portfolio functions in thinkScript, there is now a symbol parameter when applicable.
Lay off the high ones,
The Support Team
thinkorswim by TD Ameritrade
*TD Ameritrade and Estimize are separate unaffiliated companies not responsible for each others' policies.