Fun With ThinkScript – AutoWave for ThinkorSwim

If the goal is to match QCharts AutoWave ZigZag functionality, then this is the only ThinkScript indicator for ThinkorSwim that does it.

These custom scripts have streamlined my scans a great deal making it easier to target potential plays. This saves time and lets me focus on better set-ups.

What You’ll Learn In AutoWave for ThinkorSwim

The Geek

66 I recently purchased the Polynomial Regression Channel and Sniper Trend studies and applied them to 5 minute charts for day trading purposes. In the first week, I have had great success using these studies.

I am really finding both studies useful and profitable.

Brian W.

This indicator duplicates the AutoWave ZigZag feature from QCharts.

Yes, it does; and it can get close to matching the QCharts AutoWave, but it cannot duplicate it. Take a look at the video below. After experimenting a great deal with the settings, the ZigZag HighLow can be made to closely match the AutoWave.

Everything looks great until the chart is scrolled back, or the symbol is changed, or the time-frame is changed. The ZigZagHighLow settings must be adjusted for each ticker symbol and every change made to the chart.

If the goal is to match QCharts AutoWave ZigZag functionality, then this is the only ThinkScript indicator for ThinkorSwim that does it.

The location and color of the price change labels may be adjusted from within the script settings panel.

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