Stars Align Indicator ThinkorSwim TOS Script

Stars Align Indicator ThinkorSwim TOS Script

Description:

The Stars Align indicator is a must have for traders. It is a momentum based indicator which does exactly what it’s name implies – it tells you when the stars (or in this case varying time-frame momentum oscillators) are aligned. The indicator will display 3 dots for every single candlestick. These dots represent the 3 different time frames in which remeasure momentum – the short term momentum, intermediate momentum, and the long-term trend. The indicator will automatically measure these 3 momentum and paint the corresponding dot either blue or red.

A red dot means that momentum is negative for that timeframe. A blue dot means that momentum is positive for that time frame.

Knowing what the short term,intermediate, and long-term momentum’s are at any given moment is imperative for trading, especially when using day trading and swing trading strategies. Before entering a trade long make sure that all 3 dots are blue, so that you have the highest probability of stock price going up. If you are trying to short stock, all 3 dots should be red.

If at any time you see a mix of blue and red dots in a single column you should not trade the stock, as the stars are not aligned and your chances for success aren’t nearly as high as they could be. Only take a trade when the stars align!

This indicator is especially useful in conjunction with the squeeze trade, as it will quickly tell you underlying momentum going into a squeeze which will allow you to determine whether it is a viable squeeze trade opportunity or a false squeeze trying to bait you into a losing trade!

Works with Futures, Forex Currency Pairs, and Stocks

Works with the Think Or Swim trading platform

Forex Trading – Foreign Exchange Course

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Foreign exchange, or forex, is the conversion of one country’s currency into another.
In a free economy, a country’s currency is valued according to the laws of supply and demand.
In other words, a currency’s value can be pegged to another country’s currency, such as the U.S. dollar, or even to a basket of currencies.
A country’s currency value may also be set by the country’s government.
However, most countries float their currencies freely against those of other countries, which keeps them in constant fluctuation.

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