In general, setting up a time frame for your chart involves two things: defining a time interval, which is a time range for which the entire chart is plotted, and specifying an aggregation period, i.

The latter can be expressed in time unitsticksor price range accumulation. The Charts interface provides you with a number of standard time frames, however, you are free to create your own. If you switch often between time frames, consider adding the most frequently used to your favorites so they are always at hand.

Setting up Chart Time Frame

Click on the Time Frame button above the chart, next to the gear button. The Time Frame Setup menu will appear. Click on the Time frame tab and select the Aggregation type you prefer to use: TimeTickor Range. If your choice is Time aggregation, specify which kind of time aggregation you wish to set: standard intraday each bar is completed in less than 12 hoursstandard daily each bar takes at least 1 day to be completedor custom you can specify both intraday and daily periods there.

Specify the desirable time interval. For intraday aggregations, it cannot be more than days, for tick aggregations - not more than 5 days. Abbreviations: WTD stands for "week to date", YTD is "year to date", and Max available means that the chart will load all the available price data for the symbol note: there are symbols that can be charted all the way back to Specifying the latter will display all the available chart data for the period and when the current day is over, the chart will keep updating and the left-hand chart limit will be pushed forward one day.

Please note the difference between the From-To and Up to today controls: should you select the current date in the To box in the former control, the chart will stop updating at midnight CST Central Standard Time. Specify the aggregation period. On the list, Opt Exp means that the period between two consecutive expiration Fridays is taken to aggregate data for one bar. If you wish to add your aggregation to Favoritesclick on the star icon in the bottom left corner of the dialog window.

To customize the list of favorite time frames, click Customize list Setting up Chart Time Frame In general, setting up a time frame for your chart involves two things: defining a time interval, which is a time range for which the entire chart is plotted, and specifying an aggregation period, i.

To set up a time frame: 1. Tick Charts Range Charts.What's new New posts New profile posts. Get VIP. Log in Register. Search titles only. Log in. For a better experience, please enable JavaScript in your browser before proceeding. Thread starter BenTen Start date Jun 1, BenTen Administrative Staff. Three-bar reversal is a powerful pattern for day trading.

The setup looks for a few consecutive red candlesticks and the final bar being a green candle closing higher than previous bars. Here is an example:. Rich BB code :. NaN; bullish. SetPaintingStrategy PaintingStrategy. NaN; bearish. Bar, sound. Last edited: Jun 9, Thank You.

This indicator indicates the place of three bar reversal with arrows on the chart. The formation is quite specific.What's new New posts New profile posts. Get VIP. Log in Register. Search titles only. Log in. For a better experience, please enable JavaScript in your browser before proceeding. Thread starter BenTen Start date Jul 14, BenTen Administrative Staff.

Developer Waylock created it and AlphaInvestor added weekly aggregation. From backtesting, the buy and sell signals worked really well. You may want to take a second look and see if this is something that may fit your trading style. I also added alerts in the code so that ThinkorSwim will let you know when there is a new bullish or bearish signal. Alerts added. DefineColor "ValueUp", Color. DefineColor "ValueDn", Color.

RED ; Value. Color "ValueUp" else Value. SetDefaultColor Color. HideTitle ; ZeroLine. NaN; ArrowUp. SetPaintingStrategy PaintingStrategy. SetLineWeight 5 ; ArrowUp. HideTitle ; ArrowUp. NaN; ArrowDn. SetLineWeight 5 ; ArrowDn.

thinkorswim chart setup for day trading

HideTitle ; ArrowDn. Bar, Sound. Chimes ; Alert ArrowDn, " ", Alert. Bell ; End Study. Nice simple indicator - thanks for posting. BenTen said:. BenTen Here is the backtest code for this strategy Strategy: Code:. RED. That was really helpful! If you could give a few more details and show a full 90 day chart, thank you! BenTen Thank you for thinking outside of the box and trying so many different indicators for your members to back test and try out.

You are bringing a needed, different viewpoint to the ThinkorSwim community!On the new menu that comes up, click on the tab at the top of the page that corresponds with the type of security you are charting e. Pull up your watchlist in the left sidebar Gadgets. In the upper right-corner of the watchlist, click the chain link icon to the right of the symbol entry box to select a color.

Next, pull up Charts tab and choose the same color by clicking the same chain link icon to the right of the symbol entry field. You can utilize the linking feature throughout the platform such as on the Trade tab, Analyze tab, MarketWatch tab, and Tools tab. Clients can customize their preferences by utilizing the various studies, drawings, and settings and saving their settings.

Within the Style dropdown box in the right corner, clients are able to choose their aggregation type between Tick, Time and Range.

Also, they can choose whether to record the chart either intraday or daily. Once determined, you can save the style within the same menu. Finally, clients may employ any number and combination of drawings and studies and save these separately in the same way within each dropdown box. If you would like to turn this feature off, simply uncheck the box. Keep in mind, daily charts do not show the extended session so you will need to switch to an intraday chart.

To select an intraday chart, choose from the shortcut aggregation button located along the top of the chart next to the Style button. To choose your own custom number of bars, click in the drop down field and enter the appropriate number. Repeat this process as necessary to add additional symbols. Here you will see all of your lower studies listed, each with an individual label titled "Lower". Drag and drop the lower studies you would like to overlap until they are all share the same lower panel, then select OK.

Once placed, right click directly on the arrow drawing to reveal a drop down menu. Select "Edit Proprties" and a new window will appear where you may select the preferred direction you would like the arrow to point.

thinkorswim chart setup for day trading

Drawings are designed to retain a starting point and an ending point. These points are based off of time and price, the drawing simply connects the points.

A trend line for example, has a slope associated with it and the angle of the line is dependent on how much space is in between the start and end points you select for that line. In other words, the angle of the line will vary due to the changing amount of space in between the points when switching through different aggregations. FAQ - Charts How do I link a watchlist and chart?

How can I customize my charting preferences?

FAQ - Trade

How do I overlap volume on my chart? How do I remove volume from the chart? How do I view the extended session for pre-market and post-market trading?Thinkorswim, a product of the US brokerage company TD Ameritrade, is regarded as one of the best trading platforms worldwide.

Thanks to the advanced platform, StockBrokers. Thinkorswim's rich features and highly-advanced functionalities like stock screeners help users solve one of the most common problems - finding an all-in-one solution that combines everything needed in order to trade seamlessly with one powerful stock analysis software.

The following article will help you find out how to use thinkorswim in a way that will unlock the entire potential of the platform. Our thinkorswim review covers the platform features, traded instruments, costs, education and research tools, as well as other interesting facts and insights. The thinkorswim guide has something for all types of users - for example, we will help beginner traders find out how to use the platform to trade commission-free instruments.

There are also some valuable tips for advanced traders, focused on the in-depth features and research tools that thinkorswim provides. Transparency: When you buy certain products from some of the sites which we link to, we may earn a small share of the revenue.

thinkorswim chart setup for day trading

But before you are able to use the program, you have to create an account with the broker. The account set-up is quick and smooth as the customer support staff are very helpful and responsive. After your account is verified and the software is installed, you can log-in easily with just your username and password. After you have logged in the program you will find out how intuitive and easy-to-navigate thinkorswim is, even for beginner users with no previous experience with trading programs.

The working area of thinkorswim is divided in two main segments - a sidebar in the left and a main window in the center of your trading station. The sidebar contains subtabs with relevant information. It is customizable and the user can add different gadgets - from account details tabs, message center and calculator, through watchlist and streaming features, to quick charts and quick quotes. Navigating the tabs on the main window, as well as all the subtabs can seem rather complicated for first-time users with no previous trading experience.

However, after the first few sessions, users usually get familiar and start to feel comfortable using the powerful platform. It is worth noting the fact that, although all the features and the rich trading functionalities, thinkorswim's developers and designers have managed to do a wonderful job in fitting so much features and information in such a convenient and intuitive interface.

When it comes to thinkorswim's trading features, it is reasonable to say that the platform offers one of the most complete trading services on the market. Thinkorswim offers so much that even the most sophisticated traders won't be disappointed.

Day Trading: THINKORSWIM step-by-step CHART SETUP - PRO TRADER perspective!

One of the main benefits of the platform is the chance to use the Federal Reserve Economic Data and receive constant updates and all that is for free.The Charts interface is one of the most widely used features in the thinkorswim platform.

The video below will guide you through this interface and articles in this section will give you detailed descriptions of its components and useful features. The first thing you do in Charts is specify the symbol for which the price plot will be displayed.

To do so, type in the symbol name in the Symbol Selector box. You can also look through all the available symbols to pick the desirable one: click on the gray triangle and search through the categories in the dialog that pops up.

In Charts, you can view and analyze price plots of any kind of symbols: stock, options, futures, and forex. Once you pick up a symbol, you will see its price plot on the main subgraph. By default, the 1 year 1 day time frame is used which means that the chart displays one year worh of data, candles aggregated on a daily basis. You can also pick a time frame from your Favorites. To learn how you can customize the list of your favorite time frames, refer to the Favorite Time Frames article. By default, the chart uses the Candle char type; however, you are free to change it to another chart type, e.

To do so, click Style in the header, move your cursor over the Chart type menu item, and select the preferred chart type. More information on the chart modes and types can be found in the Chart Modes and Chart Types sections. By default, the only visible additional subgraph is Volumewhich displays the volume histogram and volume-based studies.

When you add a study designed to be displayed on an individual subgraph neither main, nor volumee. All subgraphs have the main area where the price, volume, and study values are plottedtwo axes time axis and value axisand a status string a string above the main area, which displays important time, price, volume, and study values based on where your cursor is.

The parameters of the axes can be customized in the corresponding tabs Price Axis, Time Axis of the Chart Settings menu.

Thinkorswim Day Trading Chart Setup 2020

Like several other thinkorswim interfaces, Charts can be used in a grid, i. Each instance is independent from others and displayed in an individual grid cell. To create a chart grid:. The Grid menu will appear. Hover your mouse across the layout editor to specify the configuration of your chart grid. It needs to be rectangular and its maximum size depends on your screen resolution.

Click when the desirable grid is highlighted. For example, doing so when a 3x3 grid is highlighted will display nine chart cells. You can use each chart cell the same way you would use the full-size interface, however, adding too many cells will optimize the display: the volume will be overlapped to the main subgraph, lower subgraphs will be turned off, axes will be hidden, etc. This might also affect visibility of studies and drawings.

If you need to maximize any of the cells, i. Double-clicking the symbol description again will restore the original configuration. You can save your grid for further use. To do so, click on the Grid button and choose Save grid as Specify the grid name and click Save. This will save all your charts in the grid with all studies, patterns, and drawing sets added to them.

You can manage your saved grids in the same menu. The name of the last loaded grid is shown to the left of the Grid button. Resetting the grid or workspace will clear this space.

Watch the video below to learn how to use the Super Gadgets. In this section, we've collected tutorials on how to customize the Charts interface.From the "Trade Tab" under "All Products", type an underlying security then click on the arrow next to "Option Chain" to expand the chain, which is sorted by expiration.

Please note; If the underlying does not have an option chain, no options will appear. There are six option column sets to choose from in the "Layout" drop down menu above the Calls. Click on this drop down and choose from one of the pre-built sets, or choose "Customize When you are done making your selections, Click "OK" to view your changes.

The six pre-installed options column sets are also fully customizable as well. Simply choose one and then follow the steps above. When you are finished customizing, you can save your set for quick access by clicking on the "Layout" drop down and selecting "Save as In the pop up, enter in a name and then click "Save".

You can now choose your new set by clicking on the "Layout" drop down, as it will be listed in the menu towards the bottom. Thinkorswim is built for traders by traders. With that in mind you can click on any Bid or Ask on the platform. From there you can adjust you price, quantity and type of order. We have a couple easy ways to access Level II Quotes. From the Trade, All Products page click on the down arrow next to trade grid and type in a symbol you wish to view.

You can also bring up a Level II on the bottom of any chart.

SPY Day Trading + Swing Trading Indicators for ThinkorSwim

From the Charts tab, while you have a symbol charted, look on the far right had side and you will see a sidebar. The second tool from the bottom is Level II. Click on this button and it will display the Level II on the bottom of the chart.

Access to real-time data is subject to acceptance of the exchange agreements. Level II Quotes are free to non-professional subscribers. Professional access and fees differ. At the bottom left of this section, click on the up arrow tab to open the "Order Entry Tools". Now, pull up the buy or sell order you want in the "Order Entry" section and adjust the price for your Limit order. Then, right click anywhere on the exitsing order line and choose "Create duplicate order" in the menu.

Adjust this second order to the Stop activation price of your choosing.