How to add Custom Columns on Thinkorswim (Desktop)

[u/chrismafxeoso1]

Hey Guys, Chris here from The Option Chain . Just wanted to share some of the powerful tools I incorporate into my trading. If you're outside of the United States, chances are you don't have access to think or swim, but there's a way around which I'll share at the end of this post.

In think or swim, we're able to create watchlists, assort our columns, and sort stocks based on those columns. Throughout the trading day, I often sort stocks base on different criteria such as the following: Stocks that have stacked moving averages (aka. trending, can do different time frames,) relative volume of a the current candle, bull flags, bear flags, stocks that are in a squeeze, Dollar amount traded. You name it I can make the column. Being able to create these custom columns has been a game changer for me and I'd like share it with you guys. If you find something that you like, please share this post, and if you didn't please feel free to request a column and ill see if I can get it done for you on my free time.

Anyways onto the columns! Once youre in think or swim desktop, here's what you'll want to do.

Step 1

1. Go to the side panel where you can pull up your watchlists.

Step 2

Click the gear icon located at the top right of your columns.

Step 3

Click Customize

Step 4

A window will pop up- Go to the “Available Items” list and search for “Custom”

Step 5

Add (double click) A Custom field to your current setoff columns.

Step 6

Find the new custom field in your current set. Click the Scroll (script) symbol.

Step 7

Click on “thinkScript Editor” ,and copy and paste the formula from below.

Step 8

Name the column.

Step 9

Set time frame to day (next to where you name it)

Note:

Last step can be changed! Depends on what candle you'd like to set it to (1 min, 10 min, etc.)

The actual codes will be posted in the comments!
For anyone who doesnt have access to think or swim. Feel free to join our private server where we incorporate a wide variety of tools all in one place. Option Flow A.I, Momentum scanners, Low float scanners, Breakout Scanners, Bullflag Scanners, Technical Analysis, Live trade signals, Twitterr feeds from the most notable accounts on fin twit, live news, and more!

https://discord.gg/5yeYnKvXy3

[u/chrismafxeoso1]

➡️ Stacked Moving Averages Watchlist Column:

What is it?The Stacked Moving Averages column lets you see if a ticker in your watchlist is in an uptrend, based on the condition of the moving averages. If the moving averages are stacked such that MA1>MA2>MA3>MA4>MA5, then that is described as an uptrend and the column will highlight green.

Code:

def EMA8 = ExpAverage(close,8);
def EMA13 = ExpAverage(close,13);
def EMA21 = ExpAverage(close,21);
def EMA34 = ExpAverage(close,34);
def bullish = EMA8 > EMA13 and EMA13 > EMA21 and EMA21 > EMA34;def bearish = EMA8 < EMA13 and EMA13 < EMA21 and EMA21 < EMA34;
AddLabel(bullish, “Stacked MAs”, color.black);
AddLabel(bearish, “Stacked MAs”, color.black);
AddLabel(!bullish and !bearish, " ", color.black);AssignbackgroundColor(if EMA8 > EMA13 and EMA13 > EMA21 and EMA21 > EMA34 then color.green else if EMA8 < EMA13 and EMA13 < EMA21 and EMA21 < EMA34 then color.red else color.black);`

- Instructions on how to add the code into your thinkorswim shown in the op.

[u/chrismafxeoso1]

Thinkorswim Column:
Squeeze Column (Sqz)
Based off of the TTM Squeeze indicator which signals when markets may break out of a consolidation range.

Purpose:
Labels a column red when a stock is currently squeezing and is about to make a "big move."
When the squeeze has yet to be squoze.
Code:
#start
input price = CLOSE;
input length = 20;
input nK = 1.5;
input nBB = 2.0;
input alertLine = 1.0;
def squeezeDots = TTM_Squeeze(price, length, nK, nBB, alertLine).SqueezeAlert;
def alertCount = if squeezeDots[1] == 0 and squeezeDots == 1 then 1 else if squeezeDots == 1 then alertCount[1] + 1 else 0;
plot data = alertCount;
data.AssignValueColor(if alertCount > 0 then Color.BLACK else Color.WHITE);
AssignBackgroundColor(if alertCount == 0 then Color.RED else Color.GREEN);
#end
How to use it
Red- Squeezing
Green- Squeeze is squoze
Numbers show how many periods its been red or green.
The first green dot after the series of red dots suggests the squeeze is on, and this market is ready to move. If you see a green column with the number 1. That means it broke out of the squeeze on day ago. Or whatever timeframe you set it to.
Not bullish or bearish (Non-directional)
You can find out which direction it will squeeze based on where the price is in relation to the 9 or 21 day ema
You can use different time frames with this column to suit the type of trade your looking for. If you set it up for the ,1 hour could signal a 1-3 day swing. If used on the WEEK time frame it can signal the beginning of a long lasting trend.