TTM Squeeze Histogram Scanner, Finding momentum stocks on multiple times frames. ThinkScript TOS

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TTM Squeeze Histogram Scanner: Finding Momentum Stocks on Multiple Time Frames with ThinkScript TOS

In this article, we will discuss how to set up a TTM Squeeze dashboard using ThinkScript TOS to identify and display the TTM squeeze histogram colors on your watch list across various time frames. This tool helps traders analyze the momentum of stocks and make informed trading decisions based on the displayed colors. By following the steps outlined below, you can customize your dashboard to recognize strong and weak momentum stocks, providing buy and sell signals tailored to your trading strategies.

To begin setting up your TTM Squeeze dashboard, follow these steps:

  • Click on the gear icon on your Thinkorswim platform.
  • Select "Customize" and type in 'Custom' to create a new custom field.
  • Double-click on one of the custom fields and switch to the ThinkScript editor.
  • Delete the existing code and copy and paste the provided code (available in the video description) for the TTM Squeeze dashboard.
  • Identify the time frames you want to monitor (e.g., weekly, daily, four-hour, one-hour) and repeat the process for each.
  • Name each custom field accordingly (e.g., "Five-Minute Squeeze") and save it.
  • Check the box for intraday charts if setting up for shorter time frames.
  • Once you've set up all desired time frames, add them to your list of studies for display on your dashboard.

This tool allows swing traders and day traders to scan for stocks with strong and weak momentum across different time frames, aiding in the identification of potential trade opportunities based on individual trading strategies.

Keywords: TTM Squeeze, Histogram Scanner, Momentum Stocks, ThinkScript TOS, Trading Dashboard, Customization, Time Frames, Trading Strategies.

FAQ:

  1. What is a TTM Squeeze Histogram Scanner?

    • A TTM Squeeze Histogram Scanner is a tool used in trading platforms like Thinkorswim (TOS) that helps identify and display the momentum of stocks based on the colors of the TTM squeeze histogram on watch lists across multiple time frames.

  2. How can the TTM Squeeze Dashboard assist traders?

    • The TTM Squeeze Dashboard assists traders by allowing them to scan for stocks with strong or weak momentum on different time frames, providing valuable insights for trade ideas and potential buy and sell signals based on individual trading strategies.

  3. Why is setting up custom fields important in the TTM Squeeze Dashboard?

    • Setting up custom fields in the TTM Squeeze Dashboard allows traders to personalize their monitoring of momentum stocks across various time frames, tailoring the tool to their specific trading preferences and strategies for more effective analysis and decision-making.