Build Custom Scans, Alerts and Chart Studies Using Thinkorswim Condition Wizard
Wouldn’t you love to be able to create highly complex scans, alerts and chart studies? Frustrated from spending endless hours trying to learn how to write code? In this video, I show you how to use the Thinkorswim Condition Wizard to build highly complex alerts, scans and 
chart studies. We start by showing a very basic example but we cover every detail so you won’t get lost. Then we progress to more complex solutions through a series of 5 examples. Each example is taken directly from posts to our Q&A forum. These are real world examples, posed by real traders just like you.
Lean More:
Would you like to learn how to master the custom scan tools on Thinkorswim?
Click here: Thinkorswim Scans Beginner to Advanced
Examples included in this video:
- Identifying stocks where the TTM_Wave C is light blue
- Stocks above simple moving average the previous 3 bars
- Three consecutive bars of 2% or more gain
- Unusual option volume
- MACD crossover below the zero line
Want to learn more?
Once you master these techniques, be sure to view our advanced Strategies video: Thinkorswim AutotTade Almost . This video explains how to use the Thinkorswim Condition Wizard to build chart strategies and conditional orders for automated trade execution. Also included are code templates. Which make it very easy to copy code from the Thinkorswim Condition Wizard and paste it into your own custom chart strategy.
For a complete understanding of Thinkorswim Chart Strategies be sure to view all our videos in this topic:
*Thinkorswim is a chart analysis platform offered by TD Ameritrade: www.tdameritrade.com
TD Ameritrade provides financial services including the trading of Stocks, Futures, Options and Forex.
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Great explanations! Thanks Fred
Hi, really appreciate you posting these videos. I’ve learned a lot from them and have a followup question. Is it possible to execute a conditional order with a ratio of two stocks meeting a particular criteria or worst case, two criteria?
Ideally, in scenario 1, it would something like execute advanced order for selling Stock A at a certain price that also triggers a buy order for Stock B given the condition when (StockB/StockA)<9
Alternatively, in scenario 2, two conditions where both are met: (1) Stock A hits ask target of x and (2) Stock B bid is less than y, which would trigger an advanced order described above where you would sell A and buy B for limit orders at the x and y prices set
Many thanks for any suggestions
In Thinkorswim? No. Sorry. You need a space ship and in Thinkorswim we are only paddling up the stream in a kayak.
Hi Pete,
For a Study Alert with the Condition Wizard set to DAY Aggregate.
How could you set it so it will check on that DAY condition but that will be checked at an specific Time every day?
Lets say compare the SMA of today with the SMA of yesterday, but do it at 3:30pm.
Thank you,
CC
You cannot do that within the code. You would need to set that as a separate Study Filter of your scan or setup your scan to run at a specified time each day. Check the Q&A forum for resources. Far too complex to address here in the comments section of a video.
Hi Pete,
How can we sell orders based on buy price . IF I have multiple orders with different trade price , how can we sell only orders high are at given price .
Greatly appreciate if you can help
This video does not cover anything you just inquired about. You need to contact the Trade Desk at TD Ameritrade. We cannot help you with this.
Excellent content by an excellent and humble coach. Great job Pete, there are few left out like you.
Wow, thanks so much for that wonderful feedback. Helps to know I am hitting my marks.
great video. thanks.
This is an incredible site. Thank you so much for doing this. I’m wanting to write a script in TOS that will do things like give an arrow signal when a moving average crosses another moving average, or change the color of a volume bar when it’s higher or lower than a previous volume bar. Is this sort of thing possible using the condition wizard?
We have not yet created a video that specifically covers Condition Wizard for chart studies. However the video we published for custom watchlist columns will show examples of similar techniques which could be used to create custom chart studies: https://www.hahn-tech.com/thinkorswim-condition-wizard-watchlist/
Also, be sure to search our Q&A forum. Tons of examples of custom charts studies. You are very likely to find solutions there that already do what you have in mind.
Hello Pete,
First of all Thank you for your time and effort for all the videos that you are sharing for us. I truly appreciate your help!!. Do you know any custom setups for momentum stocks that we can find based on the criteria for potential quick day trades? I saw most of the videos on the conditions of the previous close like 2 or 3 days of the price or volume action in sequence.
Any help you provide is greatly appreciated
Thanks for the feedback. The materials I publish are meant to help traders learn how to do their own research. I don’t teach them how to trade but rather teach them how to fish for their own trades. Have you viewed any of our videos in the Strategies category? Those are the tools every trader needs to learn so they can do their own research and find trading opportunities uniquely suited to their own risk tolerance and goals.