Thinkorswim AutoTrade Almost
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- Опубліковано 4 жов 2024
- In this video we show how to build your own code using a point and click condition wizard. The condition wizard makes it very simple to build your own set of rules for trade execution. However you may not realize the code generated by the condition wizard can be very easily inserted into a template to form a Strategy and/or Custom Chart Study.
We supply the templates, and show you how to put it all together. You will learn how to build your code using the condition wizard and you will learn how to convert that into a Strategy file. And Using tools we provided in previous videos you will then be able to analyze the performance of those Strategies.
We also show you how to use the condition wizard to generate orders that will execute in the same way as those theoretical orders generated by the custom Strategies.
AutoTrades are not fully supported on Thinkorswim as on other platforms. However if you learn how to connect the pieces you can place conditional orders that await the signal created by a set of defined rules. Once the conditions are satisfied, the order is released from hold and becomes a live order.
DISCLAIMER: I AM NOT A CERTIFIED FINANCIAL ADVISOR AND NOTHING IN THIS VIDEO OR TEXT IS AN ADVERTISEMENT OR RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT. NOR IS THIS VIDEO OR TEXT INTENDED TO INSTRUCT YOU ON HOW TO MAKE BUY OR SELL DECISIONS USING ANY OF THESE INDICATORS.
*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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This video is probably the best training video on the use of scripts for TOS I have ever seen. You are AWESOME, thank you!!!
Awesome! Thanks for taking the time to provide your feedback. There are plenty of examples listed in our Q&A Forum (over 2,000 solutions posted so far) so be sure to check that out: www.hahn-tech.com/thinkorswim-forum-topics/
timeless tutorial.
If you liked this one you will absolutely love the second in this series: www.hahn-tech.com/thinkorswim-automated-round-trip-trades/
Hahn i can't begin to give u enough credit for the work u do,WHENEVER U POST A VIDEO..i stop what i'm doing and pay attention over & over again...u have made it for me to not ever go outside of the TOS platform...i trade stocks, options and Forex and every time i think i need to use to platforms u come to the resue...THANKS HAHN
Awesome. It is so great to get feedback like this. Don't worry, I have plenty of more content still in the pipeline. If you haven't done so already, be sure to check our website where we organize all of our UA-cam videos and include additional resources. For instance you can view the FAQ's here: www.hahn-tech.com/frequently-asked-questions/
Just type a question in the search box and view a list of FAQ's that pertain to that topic. We appreciate your support!
great content is never long
Most of my viewers have found they need to view this video several times before they are able to apply the tons of valuable knowledge contained in this "rather lengthy video". If you are able to learn these techniques more quickly, consider yourself very blessed. Most are not able to learn these techniques from a 15 min long video.
I'm not even halfway through your video and I realise how valuable the information you're providing is and I'm so thankful for it! The number of views on this video is a testament to the fact that Trading nowadays has been destroyed by the advertisers who advertise for get rich quick schemes etc, THANK YOU for this video friend!
Thanks for taking the time to express your appreciation. So glad to know your found this video helpful!
the presenter here is a natural teacher. thank you so much for your contribution!
Thanks for the compliment. It really means a lot to be recognized as a natural teacher.
This is really good. Thankyou great teacher..
Thanks! I suggest you also view the updated video on this topic:
www.hahn-tech.com/thinkorswim-autotrade-almost/
Supreme video! Here's a tip: The within __ bars is on the condition wizard screen; it gets pushed out of sight when the study has many lines. Just enlarge the window and the within bars fill-in appears.
Excellent tip Gary Lundy. Thanks for taking the time to share that!
Thank you very much for making this information to available. Once again thank you.
Hi Pete, In following your video I noticed you are pasting the Plot Signal and Plot Exit code of the Study Template differently/opposite to the Lower Study code you created prior - video starting @ the 25:15 - 25:25 mark. I want to thank you again for all the great tutorials.
I am glad you were paying close enough attention to notice. You are the first to enter a comment on this error. Thanks for taking the time to post about it.
Thank you so much! The lower strategy template has helped me so much!!!!!!!
Sweet!
Pretty well illustration. Super helpful! Thank you for taking the time to share how script...
Can you illustrate using this strategy for buying and selling option based the movement of underlying stock or please advise how to use condition wizard to write a stoploss condition at breakeven point to exist the position? Thank you!
Lot's of examples like that have already been posted in our Q&A forum. We have a separate topic set aside just for sort of thing: www.hahn-tech.com/ans/cat/strategies/
Use the search function at the top of the list of questions. If you don't find your question has already been posted then consider posting a new question of your own in the forum.
You sir, are a goddamned genius! Love your site too. You rock.
Thanks for taking the time to express your feedback. There is plenty more available in our Q&A forum. Well over 15,00 questions answered to date: www.hahn-tech.com/thinkorswim-forum-topics/
I have watched this video like ten times and find something new every time! This video is invaluable for people that have a hard time with entries!
Would you consider doing one on a VWAP entry?
Hi 12rider1972. This is Pete. I am so glad you find this video valuable enough to continue watching it to glean new insights. As to the VWAP. It's certainly possible to build a chart strategy using the VWAP. However the Conditional Order tool does not support it.
This was exactly what I was looking for. My 1980's basic programming and c+ combined with intuitive chart analysis and the thinkorswim platform. Thank you!
Only partially into the video, but I really hope this helps me start coding my own Algorithm for trading, or at the least testing the algorithm I've been currently using. Thankf for uploading these videos. :D
Best of luck to you. I suggest you spend some time browsing the "Strategy Guide" section of our Q&A forum. There are many examples there that can help you learn. This one in particular will save you a ton of pain and suffering as you learn how this tool works: www.hahn-tech.com/ans/parablic-sar-signal-not-firing-in-tos-strategy/
I got lost, but I'll rewatch. I think I just didn't understand the logic/concept behind what the scripts, but I'm def interest. I was very intrigued though.
This is our most advanced video on this topic so if your are starting with this video it would not be unusual for you to be completely overwhelmed by the concepts demonstrated in this video. The best place to begin your learning curve is from our website. Which is where each and every video is published in an organized manner. The following link will take you to the Strategy Guide topic on our website. You will find the videos listed in the order they should be viewed on the left-hand sidebar menu: www.hahn-tech.com/category/tos/strategies-tos/
@@Hahntech thanks a lot I appreciate the guidance. I'll jump on it.
I spent a week trying to figure out how to alto-trade using Python, but this takes about a tenth of the effort and has so much greater certainty.
I'm glad this video was able to help. If you truly want to build or use a fully automated trading system then move to a platform that supports this natively. I really don't understand why folks are spending so much effort trying to get Thinkorswim to do something it was intentionally designed NOT to do..... when there are so many other platforms out there that already support fully automated trading.
@@Hahntech Uh, ok? What's shown in this video is exactly and precisely what I need to do. I don't want to automate my entire workflow--just the executions.
Excelent. So this video was a real time saver for you. That's great. I get a lot of requests from clients and in the Q&A Forum to force Thinkorswim to execute a fully automated trading system. So my previous reply was meant to caution those users against trying to use a screwdriver as a hammer, so-to-speak.
Thanks Pete!
Thank you for sharing. Awesome
EXCELLENT!!!!!! just what the doctor ordered. Thanks, and a GREAT Video. well done. very instructional. I have Subscribed to your channel. Best always!
Thanks. Everything crystal clear. Really good.
Great video! Works very well, except one of my strategies, that is heavily dependent on the TTM_Trend, isn't recognized by the conditional set up as a study. On the charts it show up obviously, but isn't an option in the study filters for the "autotrading" orders. I have tried re-writing the code, but haven't had any luck. Hell, I've been using TOS for years and had no idea this function even existed. It has been working great for my other strategies. Thanks for all the time you put into these videos!
Thanks for your comment. This one may require some customized code. Check our Q&A forums to see if we've solved this question previously: www.hahn-tech.com/ans/cat/strategies/
If not. Post a new question there but keep in mind I am recovering from surgery and may take a week or so to answer.
Always enjoy coming back to this video, Pete. Given the proximity since created, per one's question below re setting this "auto" up for shorts....did you end up tinkering w/ that - I didn't see any chatter in the Q&A on the Site. Blessings.
I really haven't even come back to look at this since publishing. The main goal was to teach folks how to use this tool so they could do their own research and create their own setups. The things I present in the video were just examples to demonstrate how all the pieces work together. I never intended for any of these to actually be used for trading. But some folks can not help themselves but to see gold in the dirt.
I absolutely love you! You are the best!
have you become wealthy yet?
Highly appreciated. Kudos to you sir.
FYI this is not auto-trading, it is programmed trading. The difference is that auto-trades are signals generated by 3rd-party black boxes, usually by subscription, and executed by your broker. Your broker needs to implement an application programming interface to make that happen, which TOS seems to be resistant to. You can get this kind of auto-trading on IB, however.
Agreed, thus the name of the video "AutoTrade Almost". Pretty sure I made that as clear as possible.TradeStation and Sierra Chart are two other platforms that are great for fully automated trading.
Ive enjoyed many of your videos. Today this is exactly what i was searching for!
This was a huge help! You saved me a lot of time, thank you!
Awesome. So glad to know you found this helpful.
Once I applied an EQ filter for the background noise this turned out to be a great video! :D
Sometimes the audio quality doesn’t follow through to the final cut. Over time I’ve learned how to ensure that it does. First time I’ve had someone comment on the audio quality for this video. Really appreciate the feedback.
Great training, learning a lot. My Cond_BB_RSI does not want to move to the lower box under the RSI like yours. Any tips on how to move it? The move arrows do no go down.
Hmm... that's odd. I just added it to my own chart and all I had to do was click and drag to a lower subgraph. If that does not work then add the following line to the top of the code: declare lower;
don't forget the semicolon at the end!
Thank you for this awesome video!
You are very welcome. More to come!
Thanks for the video. Really helped.
Pete, another great video!
As a new trader I am actually quite satisfied with the almost autotrading functionality except for one hitch. I have a conditional order that refers to 3 custom studies I use to force in multiple MACD aggregations. So, I have this built into a 1st trg seq to get my 4 sets of Buy and Sell orders, great, except when I save this into a template then load it back in, the first order is stuck in "Wait Cond" despite satisfying all conditions. Through troubleshooting I found that I have to go back into the order's script window to allow it to "refresh/update", I literally see the window refresh. Only after this does the conditional order trigger when it's supposed to. Have you seen this before? I contacted two reps via live chat but they pretty much told me I was making things up.
I have had other viewers describe a similar issue. When you build a conditional order, then try to save as template, the code does not get saved completely. I think it's just a glitch.
@@Hahntech TD response to this "Thanks for reaching out. The issue you’re running into is that there is a character limit for the custom script when you save it into a template. I have reported this to our developers to work on increasing the character limit and adding an error message when a script gets cut off. Sorry for the frustration this has caused you, we are working on it. I would recommend saving the template without the custom scripts and then simply adding them before you send the order. I hope this at least helps provide some clarity on the issue and a way to work around this limitation."
Thank you so much! Very nice video, and so helpful! :D
I am reviewing your videos several times each I like them. I am wondering if is possible to make conditional order that can be repeated by it self.
No, we have found through testing that even though there are controls available to regenerate a condition order those controls are inoperable. Each conditional order must be created manually.
Great videos, thanks for explaining a you go along. Appreciate your time spend on this. I wonder if you can make a video about tradesize as a percentage of the account value
This is not available for strategies in thinkorswim. They don't make account equity available to thinkscript. You could modify the trade size input to include account equity. But that would have to be manually entered.
Wow - fantastic information. thank you. Are you still using Think or swim? I don't see any more recent videos?
There have been 25 videos published since this video was published. So yes, I am still using Thinkorswim and yes there are more recent videos. You can view the entire library of videos from our website, where you will find everything is neatly organized and easy to navigate.
The most recently published video is here: www.hahn-tech.com/thinkorswim-scans-beginner-to-advanced/
Most of the current action is taking place in our Q&A Forum: www.hahn-tech.com/thinkorswim-forum-topics/
This is a great video!
This is pretty good EXCEPT there is no handling of stop loss. With this strategy if the price turns around and falls in the next bar you are holding shares hoping the price goes back up. Nice effort though you're almost there.
Please don't get hung up on the strategy performance. I am a software developer and not a trader. I just threw things together for the purpose of showing what can be done to automate trades on Thinkorswim. If you want to learn how to build, research and analyze your own trading setups, I am here to teach you how to do that. If you are looking for someone to show you a profitable trading system, move along and follow someone else.
@@Hahntech Well said Pete, I think you emphasize on all your videos about the objectives, which is not trading or profitability based, rather opportunity based, we appreciate all you do for the community.
@@DAVID-ek8fz Thank you!!!
Hello,
Just watched the video, first strategy RSI+BB, you first identify stocks meet that condition and place conditional order?
I'm not sure I understand the question. But the pattern in the presentation is to show how each setup looks on the chart before showing how to build the conditional orders for the signals that were displayed on the chart. There are templates provided which enable you to quickly convert the code from the Condition Wizard into a custom Chart Strategy to back-test the trading setup. This is the most advanced video in this series. So if you haven't viewed any of the prerequisite videos you will not likely be able to follow along with all the concepts demonstrated in this video.
Thanks, Pete, another great one for sure. I had a question, regarding conditional ordering. I found a strategy that works both ways, long and short using auto for the theoretical orders. It seems I can't have more than one directional order out at the same time on the same instrument. Is that right? Hence the "almost auto" part;-) Also, is there an auto replace once the entry and exit conditions are met?
in order to long and short systems within the same strategy can be done but requires a bit of extra work. We didn't cover that in this video but will take it under consideration for a sequel, as I'm sure this one will have numerous follow-up videos and/or articles. And yes, there is a way to 'auto-replace' a conditional order. It's the same exact method used for Study Alerts. But again, this is a topic we'll like cover in the near future as a follow-up to this one. Thanks for your questions and feedback!
After watching the first strategy, I think I understood how you built both conditions and entered them: when to buy, and when to sell (both conditional market orders). What I did not understand is that - it appears to me that the buy and sell/ enter and exit - were based on you profiting...but what about, if the market goes against you (after you buy, but before conditions are met to sell)...where was that added in? And don't you have to add that in - to protect you, in case the asset price doesn't reach your exit conditions (before the price goes against you)?
It all depends on whether you want a stop-and-reverse type of strategy or one that exits using a trailing stop. You can mix and match strategies on the same chart to achieve whatever goals you have in mind.
There is so much great info on your website. Thank you for sharing! I have been toying with this for a couple weeks. I like to know how trend of the market is performing when trading a stock. Have you played with adding a condition like if spy is above the open price to a stock buying stradgy?
I really don't get much time to spend playing with trade setups these days. All my available work time is currently spent building custom projects for our viewers.
Couple questions 1. Do you have to keep creating conditional orders once one is filled? 2. How does conditinal close orders work with forex, for example if i want to close an order based on a macd crossover?
1. There is an option you can check that will cause the conditional order to automatically regenerate after it is triggered. We do plan to cover this in a follow up video. If you attempt to do this I advise extreme caution and that you practice for a long time with PaperMoney before trying this with live money.
2. I'll try to remember to cover this in the follow up video. It's a great question.
We’re these questions ever covered?
If so what’s the video?
I went on their website under the FAQ and Hahn confirmed it's not possible to create regenerating orders.
The best you can do is save the order as a template to make it easier to re-create
www.hahn-tech.com/ans/auto-trade-almost-and-automatically-regenerate-open-and-exit-orders/
Great Video! I continue to come back to it for reference!
how's chances on creating multiple time frame using Stochastic and CCI /DAY,HOUR, MINUTES .CAN IT BE DONE .THANK U
Yes, it can be done. You can build a chart strategy for backtesting using MTF but you cannot use that code in the Conditional Orders.
Any suggestions on using the strategy to setup a scan that give high probability trades?
If I did, I would not be producing videos. I would sit at my computer and quietly rake in millions of dollars. I would not tell a soul. You have two choices. High probability trades with very large risk or low probability trades with very little risk. Any other combination leads to ruin. There are no high probability trades with low risk. Details here: www.hahn-tech.com/strategies-winning-percent-versus-risk-reward/
Thanks for the great video! It is so informative and hands-on. I have a couple questions:
Is the 1st strategy (RSI & BollingerBands) intended for a daily chart?
At 16:02, in Parameters -> period, is that where you tell TOS what type of bars to consider? 5min, 3min, daily bars, etc?
Thank you!
The RSI and BollingerBands was not meant for any specific time frame at all. Do your research and use it for whatever time frame fits your existing trading methodology. The time frame for Condition Orders is selected at the top left corner. At the specific point of the video you mentioned, that Conditional Order is set to a Daily time frame "D".
Thank you !
Thank you Mr. Hahn; your explanations were clear and easy to follow. I want to implement the Ehler's Stoch study/strategy into "auto trade" but neither show up in the condition wizard, even though they are TOS listed. Am I missing something? I want to be able to sell based on the sell signal from Ehler's Stock.
I have worked on this topic once before. The Ehler's studies are not supported by the condition wizard at this time. There is no workaround.
Thank you for answering, and thanks again for the instruction.
"Holly Cow"...soooo easy. thanks!!!!!!!
Another question, at the 29.28ish mark you talk about offsetting the bars by 1 so it buys on the bar after the parameters are triggered. You say for RSI to change to 2, then a text bubble appears instructing not to change because it is based on a value not a study but then at the 31:23 mark when you review the code it is stated as if you did change the RSI crossover to within 2 bars. What did I miss?
The text bubble is talking about the "within bars" setting on the RIGHT-HAND side. The RSI "within bars" setting is adjusted to a value of 2 on the LEFT-HAND side. (capitalized letters used to show which elements of the setup you missed, not to yell at you). ;-)
@@Hahntech I see, thank you for your time
Very nice video. Question, If I want to sell 50 cents from any open price in any condition order, what should be the code? Thank you in advance
You would enter that as a normal order. Since you already know the "open price" when the order is placed you simply enter a normal order and set the price to whatever value you need.
Great video, thank you. Question on 32:35, why Price rules: limit and you have Limit price: set? Shouldn't it be set for market. If we go long based on rsi, why we close based on price?
Yes, most conditional orders should be set using a Market order and not a Limit order. The main focus here was to teach how to build conditional orders based on your own trading ideas.
Pete, great video. Very helpful. I know that ParabolicSAR is not one of the supported studies. Do you know if it is possible to hard code the parabolicSAR indicator and use it for semi-auto trading, or is it rejected because it is recursive in nature?
Correct. It cannot be made to work. There is no workaround. This has been requested more than once in our Q&A forum. Be sure to check it. Many times more resources on our Q&A forum than you will find in our UA-cam channel.
Great video thanks for sharing, on a side note, what video software are you using to edit this video?
I use Camtasia for Mac to both record and edit.
Hey pete great vids! Keep up the great work!
Is it posable to specify a time range in a day?
- say you wanted to filter down to only have a condition trigged between 1:23am and 4:56 pm?
yes in fact it is right there on the same screen when setting the conditional order. You can have the order conditioned upon a set time of day.
Very nice video, I was wondering something when you set your condition order, on which time frame the condition will work, I don't see any relation between the order entry and the chart with the time frame ? Thanks a lot
When entering a conditional order, the time frame is selected via a button in the upper left corner of the code editor window.
@@Hahntech thanks a lot you are awesome, I have spent my night to play with this conditions. it's very addictive :)
well, its worth mentioning, you apparently cannot place the market buy and the exit sale at the same time, at least not for the stock i was trying it with.... hmm..
I am curious what software you are using.
The trading platform demonstrated in this video is called Thinkorswim. There is a link within the description of the video that will provide all the details you need.
Awesome Video!
I was curious - is there a way to save the conditional order so I don't have to put that in every time?
See if this helps: www.hahn-tech.com/ans/conditional-order-save/
Instead of the buy order, can you set alert for the condition?
Yes, I believe if you watch the video you will find that I intentionally used the "Study Alert" tool in the "MarketWatch" tab for most of the examples. I believe I also explained that you should test out these conditions using the Study Alerts first, them move to the PaperMoney side of Thinkorswim before finally moving on to the live trading with very small position size. Did you watch the entire video from start to finish? There is a tremendous amount of material covered in this video and if you blinked only once you probably missed important details.
I assume when you create the exit conditional order it should be market and gtc as well and not limit and day as shown?
That all depends on your goals and the specifications for your trade setup. But yes, a market order will ensure execution but not the execution price. A limit order will ensure a price but not an execution. Time in force is completely up to each individual.
Great Video! ... Does anyone know if there is a way to set you bid to the mark price? or even how to manage which strike price you want??
Or do you set up a few (many) orders a different strikes and then include price of the underlying as part of the conditions. As well as a cancel when once one of the other orders are placed ... How many conditions can you set on an order??
By the questions you are asking it sounds like you are trying to use this to automate some parts of your options trading. The automated tools here are extremely limited for stocks and futures. For options trading, even more so. In fact I would go so far as to say they are wholly inappropriate for automating options trades. I have found the very same limitation on most of the other trading platforms I have researched as well. This topic has been covered to some extend in our Q&A forum.
Thank you for your great efforts. I am really interested in listening to your videos. I have one question, I'm not sure if anybody asked before: in 25:15 your copied the exit code and pasted in the entry signal of the lower study. is that right?
regards.
You are correct, the signals were reversed when I attempted to replicate the existing study. Stick with the one that was already listed in the Edit Studies window but the steps required to apply the condition wizard code on the template are the details you want to focus on.
@@Hahntech Thank you for your reply. in TradeStation, we can trace the P/L% through the chart while trading is on. i am wondering if we can do this is ToS. Sure, I can see it in monitor but would be more attractable if you can view it in the chart.
I suggest you start at the beginning of this topic rather than the most advanced video we have published. This link will take you to the list of videos for Chart Strategies on Thinkorswim. They are list in the left-hand sidebar menu in the order they should be viewed. You will find your answer in the very first video of that list: www.hahn-tech.com/category/tos/strategies-tos/
so wait... you have to actually put in an order for the stock on the trading screen, then run these studies in the chart to make them trigger? kind of not following (though by the time i get an answer on here, i'll have figured it out and will be driving my new Ferrari... but..... either way... i'm currently confused /// update: apparently i had to wait 26 minutes into the video for that answer. oops.
Yeah, this video is a bit like drinking from a fire hydrant. Take your time, don't skip around. Make sure you watch it a couple/few times to make sure you can apply and understand all the concepts. When are done here, make sure you have watched all our videos on Strategies. This video assumes you already have a clear understanding of Strategies. Last tip, we have an entire category of our Q&A forum dedicated to Strategies. Be sure to read through those posts to pick up many of the common issues posed by viewers: www.hahn-tech.com/ans/cat/strategies/
Well this is awesome!
IMO it's better to program your own strategies so you have more control over how things are traded.
Exactly. Which was the sole reason I created this video. Not to provide a useable strategy, but to show everyone how to build their own. Be sure to check our website for the entire list of videos on this topic: www.hahn-tech.com/category/tos/strategies-tos/
And if you have questions there is even a topic in our Q&A forum committed to chart strategies: www.hahn-tech.com/ans/cat/strategies/
I am looking for a TOS script to help with a common and repetitive trading situation, but not having any success. Not sure if I am permitted to ask for any direction or guidance in this forum. Thank you in advance.
Here is a link to the "Strategy Guide" topic on our Q&A Forum: www.hahn-tech.com/ans/cat/strategies/
Well over 100 solutions posted just in this topic alone.
Great video. Just curious why you/seemingly nobody, ever shows these strategies actually in action? I.e. can it be used on On Demand? I guess I’m confused as to whether this can be used for live trading or is it simply showing hypothetically what could happen still requiring the trader to action the trade. Thanks.
I think you need to go back and watch this video again. The entire point of this video is to demonstrate exactly what is possible for semi-automated trading on Thinkorswim. Nothing held back here. This video shows how to push Thinkorswim semi-automated trading the absolutely limit. If you are wondering why there isn't more to this.... that's because there is nothing more to this.
Furthermore, if you are looking for fully automated trading then you need to move on to another platform entirely. Thinkorswim does not do fully automated trading, and this is by design. TD Ameritrade does not want anyone using Thinkorswim for fully automated trading.
@@Hahntech didn't mean that in a negative sense, so apologies if it came off that way. Actually the best video I've found for back testing. Saw another video using your work and not giving credit where it was due. Simply didn't understand how to use it whether paper trading or on demand. I think I assumed the trades would take place automatically and wondering how that would translate over to real time trades.
No offense taken whatsoever. Seems the you have summarized the content and intent of this video very well: "I think I assumed the trades would take place automatically and wondering how that would translate over to real time trades." The intent was to remove all doubt in the viewer's mind as to what is possible in Thinkorswim.
Hi Pete, can you show a video on how to export the data set OHLC for the daily chart for a specific time frame (ex. 30-50 years)? I know what i want to do, but cant figure out how to do it. Any ticker will do. Thank you, kindly.
Hi Jo Eash. This is a very popular request. Unfortunately Thinkorswim does not provide any functionality to achieve this. You can get some of this data from Google Finance. And there are several premium services out there that provide historical stock data.
Thank you for the great video. I have a quick question about the bar for buy and exit signal. So what is the duration for the bar? How can i have a bar duration at 15 minutes? Please advise. :)
Can you/me do the same thing you have done but also include buy orders pre and post hours of trading? Thank you in advance for your time.
Sure thing. All you have to do is set the chart to any intraday time frame and set the chart to included extended hours trade session. The chart strategy merely runs on whatever time frame you have the chart set to. There is nothing in the code that needs to be changed.
Hey Hahn name is Kaan i want to learn to trade properly and am afraid to invest without that basic knowledge do you have any recommendations what route to take or book or education. I have limited capital.
Limited capital is your first strike against you. Sorry, that is a hard cold fact that cannot be changed.
The only things I have to say on this topic are in the following article on our website:
www.hahn-tech.com/learning-how-to-trade/
www.hahn-tech.com/strategies-winning-percent-versus-risk-reward/
I want to make a script that makes a sell order when the ASK price reaches the upperband price of VWAP, but when I click Add condition in the Condition Setup window, select Study and search, there is no VWAP.
Is there a way to get VWAP's Upeer Band value in Thinkscript?
sorry but the answer is no. At this time the VWAP chart study on Thinkorswim is not supported for Study Alerts or Conditional Orders.
Me Hahn - do you know of a study I can add to my conditional study..? For instance, I want the signal to only become true when the volume of a given stock has 1 million in volume or more.
Thanks 🙏
That is a very simple condition to build. I suggest you check our tutorial video showing how to work with the Condition Wizard. Several examples and step-by-step instructions: www.hahn-tech.com/thinkorswim-condition-wizard/
@@Hahntech Yes and thank you! after rewatching your videos several times I figured it out. I was wondering how the TOS buy/sell OCO orders by using a stragedy knows what timeframe you want it applicable to. very interesting....
How to set the time frame. That is a very important detail you missed. That is located at the very top of the Condition Wizard. Top-left corner of the code editor view.
One question i still have is if i have a study that gives a buy or sell signal, (the one im playing with is the PPS) ive noticed the signal will generate during the candle and dissapear before the candle closes if there is sufficient retracement. What if i want the trade to trigger at the first display of the signal and not wait for the candle to close? How would i script that in?
Really tough to provide usable solutions in the comment section of the video. I suggest you check our Q&A forum. Post a new question if you don't find something that works for you. Here is one post that combines the PPS and PMC indicators into a scan: www.hahn-tech.com/ans/pps-and-pmc-custom-scanner/
Awesome video. I went ahead and created it. However, I'm getting the buy and sell signals, but how do you make it self execute? Is there a setting?
Ok, so you are "getting the buy and sell signals"... you are speaking of the theoretical buy and sell orders that plot on the chart? Assuming yes, then if you want the orders to "self execute", you need to place an order and set a condition that includes your code which plots those theoretical orders on the chart. Which is all explained in this video. So I have to guess that you did not watch it all the way through. Or that you were simply skimming through the video.
Hahn-Tech, LLC BOL. Hahn, yes and no. I've watched it all the way through months ago, then came back to it and followed the instructions up to creating it. So you busted me sir! Thanks for the clarification. I'll be sure to watch it through one last time for good measure. Thanks Hahn, you're the man!
Hahn-Tech, LLC. Here's a rookie follow-up question. So given that the strategy is created from a buy order, if we desire a sell entry, will the strategy execute at the closing signal from the strategy? Or do we have to enter a contingent sell order (instead of a contingent buy order) for it execute? Hope my question makes sense.
Yeah, this video is like drinking from a fire hydrant. I doubt there is anyone out there able to watch it once from start to finish and grasp everything I have laid out. Which is why it's good to ask questions.
So regarding your question about changing a strategy order to buy into a strategy order to sell. This video introduces 4 different strategies. So first we need to know which of the four you have chosen to work with.
Once we know this, we may be able to help you convert that to a short side entry. As it stands, the strategies in this video only cover long side entries. In order to provide you a complete solution I belie we'll have to move this conversation over to our Q&A forum.
Absolutely great video, I set everything up but I cannot see the indicators on my chart which would enable me to backtest the strat.. for ex: 27:50 in the video. Also, not sure if this is because of the recent updates to TOS but I cannot view the 'Condition Preview' or choose the small gear icon to make a market order with a conditional trade. Any help would be appreciated!
If you need assistance you can post a new request in our Q&A forum. This is far to technical to try to address here in the comments of a video: www.hahn-tech.com/thinkorswim-forum-strategy-guide/
I will say the Strategies do not plot anything but theoretical buys and sells on the chart. If you were expecting the indicators to plot, those will have to be added separately from the built in studies that come with Thinkorswim.
I think that StrategyDesk used to be so much simpler and better. It could make trades on its own. I used it all the time before. Then Ameritrade got rid of it. Ameritrade spent about a Billion dollars on Think or Swim and it is so complicated that it cannot work very well.
Tom Cool I’m so glad I came to this video and took a look at the comment section. I wanted to set my trading strategy in ToS to trade for me automatically but now I know I can’t. One thing I can’t stand about TD or its platform I think it’s too cluttered for me.
Tom, so what did you end up going with to fill that void? I'm looking for an alternative to ToS as well. As much as I like the platform I'm essentially losing money from its lack of features.
So you basically cannot have "input" statements or having dynamic parameters for those condition statements like "RSI ()."RSI" crosses above RSI_Thresh" with RSI_Thresh variable defined as 25 by input statements earlier I guess. You have to hard code it.
Thanks for a great video.
If you are using built-in studies they have inputs. If you are creating your own you do not. Same thing with custom watchlist columns, study alerts and scans.
Can you use def statements when setting up conditional orders or do you absolutely have to hard code everything? Thanks
I'm confused. Using "def statements" involve "hard coding" the condition. Stated another way, writing code directly into the thinkscript editor, that is "hard coding".
Compare that to the techniques demonstrated in this video. Which involve no code writing at all. Just click through the condition wizard to setup your rules. This is the antithesis of "hard coding".
That's fine. I figured it out. You cannot have "def statements" either in your conditions for conditional orders. I have another question. Do you know how many conditions I can have for my conditional orders? I put in 4 conditions and the 4th condition didn't show up at all in the "Description" so are they all being evaluated or does TOS only evaluates the conditions that show up in the "Description"?
Thanks for your help. Reall appreciate it.
Actually you can have def statements in the condition editor. You can just copy and paste an entire indicator in there. There are some rules you must follow in order to get it working. I encourage you to spend time browsing our Q&A forum. There are very many questions/solutions on this topic. www.hahn-tech.com/ans/cat/strategies/
hi is it possible that you explain how to include a stoploss order for your trades on thinkscript?
In this video I do not discuss any of my own trades. So there is no reason to discuss any stop loss orders in this video. Perhaps you were intending to ask how to apply a stop loss order to a chart strategy? This video only shows how to automate a portion of your trade management.
off topic question but, how do I set TOS so that I can see the time axis and price axis lines (the lines that move with your mouse) on all charts (or trade charts) at the same time?
Chart Settings --> General --> Synchronize crosshairs position
Thank you very much for this tutorial video. After I started using TOS, I follow your youtube channel.
I am wondering is it possible to run this buy and sell order in a loop?
I also like to know is there any way in the TOS we can run back test on a strategy with an amount of money and for a duration of time? This may help me to modify my strategy for best return.
No it is not possible to "run this buy and sell order in a loop". This video shows everything that is possible. I didn't hold anything back. As for backtesting chart strategies on Thinkorswim. I have an entire library of videos on this topic. It would have been best if you had started from the beginning rather than viewing the most advanced video on this topic. You can start here: www.hahn-tech.com/thinkorswim-strategy-guide/
That video will open on our website, where you will find everything organized by topic with navigation from the menu on the left-hand sidebar.
@@Hahntech thank your for your detail reply. In the conditional order can I change the bar duration from day to minutes or hrs?
The answer is yes. Nothing the code is required to do this. The time frame is adjusted at the top of the screen. It is a user setting.
Hi..a very good video that you have done for us. Would it be possible to also do a similar video for Options? thanks.
Not really much to show for options. The mechanics are the same. There are a few posts in our Q&A forum on the topic.
At the 25.29 mark you copied the "cross above" script to "plot exit" and the "is less than" script to "plot signal" , is that not backwards since we are looking for a signal to enter with RSI crossing above 25 and looking to exit when RSI drops?
The correct version is the one that was already created previously and shows in the video at 25:32 mark. I"m glad you are paying attention, only a few viewers have taken the time to mention this so far (you might find their remarks in by browsing the rest of the comments).
Thank you for awesome video. I have couple questions 1. can we implement conditional order on custom timeframe on intraday such as 1min, 5min etc. 2. can we place sell order before we have the buy position open, it is rejecting my sell conditional order with "short sale not permitted"?
Answer to #1. No custom time frames are supported at this time for Condition Orders, Study Alerts, Watchlist columns or Scans. Answer to #2. No, this is the reason the word "Almost" was included in the title. Everything that is currently possible on Thinkorswim was demonstrated in this video. I did not leave anything out. This is as far as we can take semi-automated trading on this platform.
@@Hahntech That makes sense. so a followup. TOS always assume it to be daily bars correct? when we setup conditional order.
I believe it remembers the last time frame you selected for the previous conditional order. Not sure. But either way, the time frame is easily adjusted in the top left corner.
Another Question: do I need to have the TOS open for conditional order to be executed?
Conditional orders are supposed to reside on the servers at TD Ameritrade and "should" continue to function after you log out. However this behavior is subject to change and you should absolutely check with TDA support and conduct your own tests to confirm exactly how this works.
Thanks Pete, this is what I was looking for but a big missing piece here for me: You are using the stock symbol DVN in the demo, the one stock. I repeated your process for a particular stock and saved it as a default. However, when re-using that saved template on another stock, the previous stock ticker is stuck in the condition code. The stock symbol does not dynamically change to the new stock choice, therefore it becomes useless. I can't go and write this code for every single trade. What am I missing? I must be doing something wrong. Thanks.
Not sure what you are missing there. I just tested it and a saved order template that includes a conditional order does not force the same ticker symbol when I try to use that saved order template to buy some other ticker symbol. For the record, this is the condition I tested:
SimpleMovingAvg() crosses above SimpleMovingAvg("length" = 18)."SMA"
When I saved it I was using ticker symbol "AAPL" and then when I applied that saved template to "AMZN" it did not change the ticker symbol back to "AAPL".
@@Hahntech Yes, it actually "looks like" it is dynamically changing the ticker symbol. Because in the dialog below it shows the new symbol. However, if you click the sprocket to edit... you can see that it holds the previous stock in the condition. So, to fix it one has to remember to click the sprocket, type in the new symbol, and it will engage. Now, I'm not doing this as "a study" like you did. I'm just using the condition builder and saving it as you suggested on your site. Is this a bug in the ToS software?
Until I can replicate this I cannot tell if it is by design or a bug. However when I tested it didn't do this at all. So I suspect you are doing something extra that is causing it to do this. Because left to its own devices the platform does not behave this way. We can't really provide more detailed assistance in the comment section of a video. You might try posting this in our Q&A forum where we can get into more details. But be sure to provide screenshots showing every detail you are using to set this up: www.hahn-tech.com/thinkorswim-forum-topics/
Great Video thanks. When i send my order, it shows on the chart screen but never activates, i tried many times but it never buys, can you or any of the users please help
Make sure you are practicing using the PaperMoney side first of all. Then, make sure you are using a Market order type. The default is usually Limit order and that will prevent orders being executed as soon as they are triggered.
Thank you for the tutorials very interesting.. i got a question It is possible to make an Auto trade strategy using Renko bars along with ichimoku?
I am trying to do it with no results.
First thing I will say is that you would never want to use something like Renko bars to backtest any strategy. Why? Because each Renko chart will change depending where the start point is. It's garbage for backtesting. Only good for deterring trend and spotting support and resistance levels.
Love the video-
How can you apply the first study to automate your buy and sell order as a bracket order?
Begin with a bracket order before adding the condition. This is entirely up to each user. Nothing in the code or condition can effect the structure of the order.
Thank you,
You are becoming my fav....
One more-
Is it possible to create a preset bracket order that you would only need to adjust the quantity of stock?
It is possible to save any order you create as a template to be used for future orders. That is simply standard built-in order tools. However it will not retain any of the code you add using the Conditional Order tools.
@@Hahntech excelent
Thank you so much
@@Hahntech where can I find custome order templates in your site?
Hate to bother you again but I got another question. I deleted all the code from line 68 down from the SLM Ribbon and entered as you did in the study order condition as well as entering it as "superfast cross above fast". It worked fine for me both ways in condition preview but when I transferred either code to a strategy using the buy/sell template you provided it gave me a no such function error. Any suggestions? I can replace it using MA's and it would do the same thing correct?
There is no way I can provide assistance of this complexity in the comments section of a video. I would need to see a screenshot of what you are trying to do when the error displays on the platform. The only suggestion I have is for you to spend some time browsing our Q&A Forum for existing solutions on this topic. If you do not find a solution already posted then you should consider posting a new question of your own.
@@Hahntech thank you
Great tutorial. Thanks!Can this process be used to place advanced OCO options orders?
Not using any code. When you create the conditional order you have the ability to create any OCO order you like. So first you create the OCO order, then you add the condition. The code that runs in the condition wizard can ONLY send the order to market. Nothing more.
So, sounds like it is not possible within Strategies using thinkScript Editor to code a rather simple algo such as:
When study parameters = True for SPY, buy ATM Call for Expiration
Date = (closest to today’s date + 7days) with OCO brackets to sell at MKT+10% and
STOP MKT-10% ?
Is there an override or upgrade within TOS that would provide such capability?
No, not even close. This videos describes the absolute limit of what is available at this time. This is not a video showing the introductory version. This video squeezes every last drop of mojo out of the platform, resulting in a very rudimentary ability to automate trades. This is as good as it gets.
Thank you- so I am looking for a platform with the capability to create or code the algo as shown :Strategy = True for SPY, buy ATM Call for Expiration Date = (closest to today’s date + 7days) with OCO brackets to sell at MKT+10% and STOP MKT-10%Would TradeStation be able to complete this automatically?(i.e. when the study on the underlying SPY is triggered, a market order is created for the ATM Call
option of Expiration approximately one week away and with corresponding OCO
sell/stop orders of +10% and -10%).If not, are you aware of any of the trading platforms that would allow the user to build in this capability?
I'm not sure. I will have to research this. If you are interested in pursuing this, please view our rates as well as other details and fill out the contact form here: www.hahn-tech.com/about/
Great job on this video! I have been using Ninja for running my automated strategy. I wanted to able to convert my EMA Slope indicator that I use on Ninja to use on TOS. Please let me know if you can help with conversion. Thanks!
I would like to take a crack at it. I haven't worked with any code in NinjaTrader before but I learn quickly and I hear it's similar to other languages. Fill out the contact form on our About page to initiate a dialog about this potential project: www.hahn-tech.com/about/
Thanks much! But, I found someone right before you got back to me. Thanks again for the great video.
Hello! Thank you very much for the video! I have a different strategy that I am trying to automate using your tutorial, but when I try sending out the Sell Order it gives me a message "Entering this order will cancel your open working orders". I am not sure how to fix this problem.. Also, is there a way to make this a repeating order?
Sounds like there are some open orders that are in direct contradiction to the new order you are trying to enter. Keep in mind the word "Almost" was included in the title of this video specifically to point out that fully automated trading is not supported. This is the answer to your question about "repeating order". All of this was explained in the video so I suggest you need to view it again and make sure not to skip any portions of the video.
@@Hahntech Thank you for your response! The order that in direct contradiction is the buy order. I want to buy a stock when 9MA crossed over 20MA and I want to sell it when it crosses back down below 20MA. The code for the buy order was fairly easy to do (thanks to your video), but when I submit an order to close it gives me that message that it will cancel my buy order. But in your video I see you submitting a buy order based on your condition/strategy and then submitting a sell order for exit. I can't figure out why my TOS won't let me do the same..
I have watched your video months ago and here I am again :) I keep coming back to it like to a trust worthy textbook.
In this video, I explained that you first have to wait for buy trade to open the position. Then only after you hold the stock as an open position can you create the sell order. I did not demonstrate nor explain that you could enter both orders at the same time. Because they cancel each other out. However one of our viewers discovered a workaround. Which I tested and got it to work in PaperMoney. In the near future I will publish an updated video showing exactly what this work around enables. In the mean time you can check the comments section of this video hosted on our website: www.hahn-tech.com/thinkorswim-autotrade-almost/
In the comments section, locate the comment posted by "Mario" dated 8/3/21. Mario explains the steps required to perform the workaround.
@@Hahntech I found it!!! ♥ Thank you SO SO SO much!!! Mario had the same idea as me, I want to buy when 9EMA crosses over 20MA and sell when 9EMA crosses back under 20MA. I cannot wait for your video! I will be trying the code I write using your video this week with 1 share. Until now the only solution I found to close my conditional order was with a stop loss. Can't wait to test the new code! Thank you!
How do these conditional orders work together? What happens if the sell order hits before you have any stock? Also if two buys are hit after each other? Can you control this to sell what you have bought only?
Go back and watch the video again. There is no way to do "fully automated trading" in Thinkorswim. This is the very reason why the title of the video includes the word "Almost".
Hahn-Tech, LLC I see, is everything accurate and useful to use as non trading but just to give signals and then manually executing them? Also possible give alerts?
yes, the same method used to build Conditional Orders can be used to create Study Alerts. The same exact code can be used in both tool on Thinkorswim.
Thanks
One more thing, I'm trying to create my own conditions based on ichimoku. When you are creating your buy conditional and your sell conditional, is there a way to have a relation between those two orders ? because what happens, the sell can be executed before the buy and i don't want to be short on this example.
You cannot deploy both sides using conditional order. That is the exact reason for the work "Almost" in the title of the video. If you need to automate both sides as a fully automated trading system you cannot do so using Thinkorswim. You will need to move to another platform.
@@Hahntech thanks a lot ,in this case I will put alerts and i will follow my strategy to buy and sell :), I just have to execute manually.
What would this code look like to do a trailing stop?
addOrder(OrderType.SELL_TO_CLOSE, exit, open[-1], tradeSize, Color.MAGENTA, Color.MAGENTA);
It is not possible to cover this topic fully and answer this question in the comment section of the video. I encourage you to post any questions you have in the Q&A forum on our site. I will say that most trailing stops are not supported by the conditional order wizard. The platform already includes built in trailing stops for Strategies so go ahead and browse the list and try them out.
where do i copy the whole strategy , i dont find it here
when I try it in the 'OnDemand' feature it doesn't have the "or' feature in the conditions tab.
It is already known that many features have limited to no functionality when OnDemand is turned on. I suggest you contact support at TD Ameritrade since there is nothing I can do about this.