ThinkorSwim Stock Alert Scanner and Scripts Live Stream

Introduction

Good morning, traders! Happy Friday! I'm Ricky Gaspard, your host for this pre-market session. Each morning, we monitor our volume spike indicator to identify potential trading opportunities. Once we spot a volume spike, I will evaluate the current bar volume to ensure it's dynamic and conducive for safe trading. A healthy market should feature a vigorous contest between buyers and sellers without periods of stagnation.

Analyzing Volume and Price Movements

Once we confirm solid volume, you can expect the stock price to rise. For beginners, I recommend setting a resistance level when the price begins to pull back. This is followed by establishing a support level to plan your entry point at the support for the anticipated next rise.

We depend on our proprietary indicators to guide us through these moves. For instance, our Dominator bars indicate buyer and seller activity and we prefer these green bars situated above the average yellow volume line. This setup signals that more participants are entering the market and buying.

Additionally, I use the “my blessing” indicator that also needs to show an upwards trend with a green line for favorable conditions. We evaluate the volume spike and confirm our indicators to make strategic buy decisions. However, please be reminded that I am not a financial advisor, so consult with professionals before making any trading decisions based on my suggestions.

Trading Guidelines and Best Practices

It’s important to note that my screen may experience delays, which could result in missed trading opportunities. Ensure that you are set up on your own system to observe live data.

As we approach the market open, I'm particularly interested in stocks like TNN, which had significant movement yesterday. Pre-market trading will invariably bring sporadic activities, and being prepared makes all the difference for successful trades.

During today’s session, we observed a stock, IMRX, moving with a slight gain. It’s essential to keep a keen eye out for tall green bars indicating buyer activity. Fridays can be slower trading days, but we also aim for profitable plays, especially before the weekend when traders often consolidate their positions.

We also discussed various stocks on our radar, such as WNT and XXII. Upward movements often witness profit-taking, so it’s crucial to watch market indicators keenly.

Community and Support

I want to remind everyone that we have an active trading community on Discord to share insights and observations. However, please beware of scammers impersonating me on various platforms asking for funds or private information. Always verify communications, and if in doubt, do not engage.

We had a successful trade this morning, and it’s encouraging to see traders profiting from even small movements. For those still looking to optimize their ThinkorSwim setup for pre-market trading, there are numerous resources available online to assist.

As we conclude this session, reflect on taking one profitable trade as the goal of each day. Thank you all for joining this morning, and I encourage you to enjoy your weekend before we regroup for another trading week.

Keyword

Keywords: ThinkorSwim, stock trading, volume spike, pre-market session, trading indicators, resistance level, support level, buyers, sellers, profit-taking, community trading, discord, personal trading setup, trading strategies.

FAQ

Q: What is a volume spike?
A: A volume spike refers to a significant increase in trading volume for a stock, indicating heightened interest from buyers or sellers.

Q: Why is it important to set resistance and support levels?
A: Setting these levels helps traders plan entry and exit points based on expected price movements.

Q: How do you know when to buy a stock?
A: Traders look for indicators like tall green Dominator bars and alignment with other market indicators to determine if it's a good time to buy.

Q: What should I be aware of when trading on Fridays?
A: Fridays can often be slower trading days, with many traders selling off positions before the weekend; this can impact stock performance.

Q: How can I stay safe from scammers?
A: Always verify the identity of individuals contacting you and never provide personal information or funds without proper verification.