thinkorswim Set-up

Use our custom thinkorswim plug-ins to accelerate your earning potential and put your alert system on overdrive. If you still need an account, sign up with the button to the right to get discounted fees!

Below you can access our custom plug-in and watch lists, so you can get your thinkorswim trading platform up to speed as quickly as possible. Click here for details on installing each plugin.

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IV Rank [Chart]


# --------------START BELOW THIS LINE---------------
#
# OptionStrategiesInsider.com
#
# IV Rank tells traders where the Implied Volitility lies in relation
# to its yearly high and low Implied Volitility
#
#-------------------TO INSTALL--------------------------
# Start ThinkorSwim
# Click the Chart tab
# Click the Studies button
# Select Edit Studies
# Click New button
# Erase Everything in the box (plot Data = close;)
# Paste the text in this page into the box
# Insert the name: IV Rank Levels
# Click OK
# Click OK
# ------------------HAVE A NICE DAY--------------------

declare lower;
declare hide_on_intraday;

#IVPercentile
def vol = imp_volatility();
input ImpVolatility= yes;
input IVPercentile = yes;
input DailyStandardDeviation = yes;
input WeeklyStandardDeviation = yes;
input MonthlyStandardDeviation = yes;

input TimePeriod = 252;

def data = if !isNaN(vol) then vol else vol[-1];
def hi = highest(data, TimePeriod);
def lo = lowest(data, TimePeriod);
plot Percentile = (data - lo) / (hi - lo) * 100;
def lowend = Percentile < 20;
def highend = Percentile > 50;

#Labels
addlabel(IVPercentile , concat("IV Rank: ",aspercent(Percentile /100)), if lowend then color.red else if highend then color.green else color.yellow);

addlabel(ImpVolatility, concat("ImpVolatility: ",aspercent(vol)), if lowend then color.red else if highend then color.green else color.yellow);

def Hold1 = (vol / Sqrt(252)) * close;
AddLabel(DailyStandardDeviation, Concat("Daily SD $", Astext( Hold1, NumberFormat.TWO_DECIMAL_PLACES)), if lowend then color.red else if highend then color.green else color.yellow); ;

def Hold2 = (vol / Sqrt(52)) * close;
AddLabel(WeeklyStandardDeviation, Concat("Weekly SD $", Astext( Hold2, NumberFormat.TWO_DECIMAL_PLACES)), if lowend then color.red else if highend then color.green else color.yellow); ;

def Hold3 = (vol / Sqrt(12)) * close;
AddLabel(MonthlyStandardDeviation , Concat("Monthly SD $", Astext( Hold3, NumberFormat.TWO_DECIMAL_PLACES)), if lowend then color.red else if highend then color.green else color.yellow); ;

plot LowVol = 20;
plot HighVol = 50;

LowVol.SetDefaultColor(GetColor(5));
HighVol.SetDefaultColor(GetColor(6));

IV Rank [Watchlist]


# --------------START BELOW THIS LINE---------------
#
# OptionStrategiesInsider.com
#
# IV Rank tells traders where the Implied Volitility lies in relation
# to its yearly high and low Implied Volitility
#
#-------------------TO INSTALL--------------------------
# Start ThinkorSwim
# Ensure your side bar is open
# Click the gear icon in the watch list
# Select 'Customize'
# Under Available Items scroll down to 'Custom 1'
# Select the icon to the right of 'Custom 1'
# Select the 'thinkScript Editor'
# Paste the text in this page into the box
# Insert the name: IV_Rank
# Click OK
# Go back to the Avialable Items area and select IV_Rank and then 'Add Items'
# Click OK
# ------------------HAVE A NICE DAY--------------------
def vol = impVolatility();
rec data = if !isNaN(vol) then vol else data[1];
def hi = highest(data,252);
def lo = lowest(data,252);
plot perct = (data – lo)*100 / (hi – lo);

ETF Watch List


DIA EEM EWJ EWW EWZ FXE FXI FXY GDX GLD QQQ RUT SCHE SCIF SLV TBT TLT UNG USO VIX VOO XHB XLE XLF XLK XLRE XLU XLV XOP XRT

Stock Watchlist


AMAT AMD AMZN AAPL AZO BA BABA BIIB BWLD CAT CMG CVX DIS DLTR FB FSLR GS HAL JPM KO LUV MA MCD MSFT NFLX NKE NVDA ORLY BKNG TSLA TWTR ULTA UNP X

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