New Think or Swim charing functionality release notes. I love the Elders Impulse settings http://mediaserver.thinkorswim.com/notices/Release_032412.html
Swimmers...
When our developers tell us they are looking forward to Spring, we instantly assume they are referring to using the idea of stored mechanical energy in a coiled object to construct more efficient computing methods. After a longer than intended email chain (which explained in detail how the sum of kinetic energy and potential energy does not play a significant role in their theory of instantaneous computation), we discovered that our developers were actually referring to the season. Curious as to why they’re interested in the world outside their labs, let alone excited about it, we questioned why they’re looking forward to Spring. Turns out it had nothing to do with warming weather, green grass, and sunshine. They have been anxiously holding on to a new charting package to deliver! With the addition of SwamiCharts, new thinkscript functionality, and our new Thermo Mode, it’s easy to see why.
On Saturday, March 24th we released version 1814.15. New features include:
SwamiCharts*: thinkorswim charts have undergone a psychedelic experience with the introduction of John F. Ehlers’ new SwamiCharts indicators. SwamiCharts are an easy-to-understand, quick-to-interpret, and entirely consistent type of 3D chart with time on the x-axis (length), lookback period on the y-axis (height), and the indicator value (color) as the third dimension. As an extension of this, we also brought in 12 new proprietary studies written specifically to take advantage of this gradient charting design. . Three different sets of studies, each designed for a different charting and trading styles, all for no cost…groovy.
An ordinary technical indicator line chart shows an indicator at a single fixed lookback period only, a very narrow view. SwamiCharts is a step forward, providing a 3D view of a technical indicator over a wide sequential range of time periods. This type of visualization technology (also used for medical imaging and mapping) is now possible using thinkorswim technology. Every tick on the chart updates an entire array of study values for your analysis, without presenting a wall of text or maze of lines.
This package begins with implementing a number of classic chart indicators, with the enhancements to range and display which the SwamiCharts’ implementation provides.
Classics:
Aroon Indicator
Commodity Channel Index (CCI)
Relative Strength Index (RSI)
Stochastic Oscillator
For illustrative purposes only
We then go one BIG step further, providing all of SwamiCharts’ proprietary indicators in our platform for your use.
Essentials - A core collection of essential technical indicators that improve on the originals by displaying action over a range of parameters so that you can better assess true market action at a glance:
Swami Accumulation/Distribution
Swami Market Mode
Swami Predict
Swami Volume
For illustrative purposes only
Advanced – A set of unique indicators utilizing cutting-edge digital signal processing (DSP) techniques to more clearly detect price turning points, swing peaks and valleys, and trend onsets and conclusions:
Swami Convolution
Swami Laguerre Trend
Swami Relative Performance
Swami SwingWave
Swami Volatility
For illustrative purposes only
Daytrader - A collection of indicators that have been characterized to quickly respond to price fluctuations at intraday time intervals. These indicators can be used over a wide range of intraday intervals from ticks to hours:
Swami Intraday Fisher
Swami Intraday Impulse
Swami Intraday Volume
For illustrative purposes only
Thermo Mode: Charting in three dimensions is too useful not to embrace wholeheartedly. All eligible studies in the thinkorswim charting platform can now be plotted in a 3D display to provide a range of plots for a selected output. This lets you use the chart indicators you know and love in a way you have never before experienced.
This kind of 3D works without the funny glasses. When thermo mode is engaged, a variable in your chosen study can be changed from a single value to a range, adding a whole new level of insight to your analysis by displaying outputs based on color shading.
With several different gradient types available, you can select your preferred display. The range values you select for your variable will then plot the effect of this input’s gradual change on the output of the formula in the study.
A picture is worth a thousand words. thinkorswim’s Thermo Mode packs an amazing amount of data into a compact, easy-to-understand display that is equivalent to using literally dozens of traditional line studies. Even with all this data, the rendering is straightforward and intuitive.
For illustrative purposes only
Trading Hours Only Mode for Futures Charts: With futures’ variable trading schedules, getting a consistent and reliable comparison between products or time frames can be a challenge. To help you rise to the occasion, we have included a new mode for futures charts that will allow you to view price data for futures in a more flexible way.
The choice to “Show Extended Session” can now be applied to futures charts on a Daily Aggregation. When this is inactive, the chart will compile data from the open until that futures product rollover time for its aggregation period.
When “Show Extended Session” is active, a given future’s daily chart is compiled for the entirety of that future’s trading period.
This functionality is expanded for futures on intraday charts as well. When “Show Extended Session” is inactive, intraday aggregations show only the period of time for that future’s intraday session.
For illustrative purposes only
Elder's Impulse Technical Indicator: As if SwamiCharts and Thermo Mode did not provide enough new charting indicators to use, we have also integrated Elder’s Impulse study as a new momentum indicator within the thinkorswim platform.
Elder’s Impulse system uses a combination of MACD and EMA trends to analyze the velocity of pricing trends in a security.
In scenarios in which both the EMA and the MACD infer acceleration, the price bars will be shown with a green point.
In cases in which both the EMA and the MACD infer deceleration, or a downtrend, the price bars will show in red.
When the two signals do not show agreement, the price bars will be shown in blue to indicate at least temporary equilibrium between buying and selling pressure.
For illustrative purposes only
Technical Analysis of Stocks & Commodities Indicators: We are continuing our integration of technical indicators presented in the “Trader’s Tips” section of Technical Analysis of Stocks & Commodities magazine. This release brings us three new and unique technical indicators as pre-built indicators in the thinkorswim platform.
First up is William Erman’s Ermanometry indicator, a cyclical time-based indicator used to infer the projected time of a likely market shift.
For illustrative purposes only
The Inverse Fisher Transform Stochastic Oscillator study shows price trends with a minimum of whipsaw signaling by smoothing its stochastic input with a weighted average input and then adding an inverse Fisher transform formula to further clean the indicator’s signal.
For illustrative purposes only
Get a double dose of momentum analysis with the Reverse Engineering MACD study and the MACD with Prices study. These two studies complement the classic MACD by calculating specific price values associated with MACD levels and the values that would cause the MACD to reverse direction.
For illustrative purposes only
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