UseThinkScript
useThinkScript is a free custom indicator and trading strategy creation platform for Thinkorswim. It allows traders to code, backtest, and deploy their own custom indicators and trading systems within the Thinkorswim platform.
technical-analysis
charting
automated-trading
useThinkScript: Free Custom Indicator & Trading Strategy Platform
A free platform for creating custom indicators and trading strategies within the Thinkorswim platform, allowing traders to code, backtest, and deploy their own systems.
What is UseThinkScript?
useThinkScript is a free platform that allows traders to create custom indicators and trading systems for Thinkorswim. It integrates directly into the Thinkorswim desktop platform, providing an easy way for traders to code, backtest, and deploy their own unique trading tools.
Some key features of useThinkScript include:
- Syntax highlighting editor for writing ThinkScript code
- Backtesting engine to test indicators and strategies against historical data
- One-click deployment to get custom scripts into your Thinkorswim charts
- Code sharing so you can publish scripts for other traders to use
- Access to a community forum to get help with scripting issues
By coding indicators and strategies with useThinkScript, traders can create completely customized analytical tools and automated trading systems tailored to their methodology. This gives them an advantage over relying only on default off-the-shelf indicators in Thinkorswim.
Since useThinkScript integrates directly with Thinkorswim charts and data, the scripts traders create can scan the market, generate signals, and even automate trades from directly within the Thinkorswim platform itself. This tight integration and the ability to share scripts makes useThinkScript a popular platform amongst active Thinkorswim traders.
UseThinkScript Features
Features
- Create custom indicators and strategies
- Backtest indicators and strategies
- Deploy custom code within Thinkorswim platform
- Access price data and studies
- Develop complex trading logic and alerts
Pricing
- Free
Pros
Powerful functionality
Integrates seamlessly with Thinkorswim
Large community support
Free to use
Cons
Steep learning curve
Limited documentation
Debugging can be difficult
Official Links
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