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Think Or Swim GW Chart Settings

Posted by robert 
Re: Think Or Swim GW Chart Settings
August 08, 2020 12:33PM
That's odd. I get wildly different results from these MACD settings in TOS versus Alchem. I've tried fiddling with exponential settings on and off and various types of MACD calculations in TOS including the ones you listed. All to no avail.

Can you confirm that you are, in fact, getting identical results in the MACD? Compare the daily MACD numbers for any given stock, for starters.



Edited 1 time(s). Last edit at 08/09/2020 10:59AM by HouseOfFabu.
Re: Think Or Swim GW Chart Settings
September 12, 2020 03:08PM
Hello Robert,

This thread helped me with transitioning from QCharts to T/S platform. I am a grad of WSB, and am just switching over to T/S. One main question remaining - Can you tell me if you use Simple, Exponential, Wilders or Hull for average type on the RSI, MACD, and DMI?

Kevin



Edited 1 time(s). Last edit at 09/12/2020 03:41PM by KevinB.
TCB
Re: Think Or Swim GW Chart Settings
September 12, 2020 06:58PM
Hi, Kevin

The MACD = Exponential, RSI = Wilders, DMI = Wilders.
Re: Think Or Swim GW Chart Settings
September 12, 2020 09:27PM
Are we sure on using Wilders for the RSI????

I had been using simple for a long spell now. I just went and checked. smiling smiley

When I compare TOS with Alchem charts, the only way it will match is if I use Simple for the RSI. Using Wilders causes the two charting packages to not match up anymore.

Also I want to note that Alchem charts is THE recommended charting app that Gary recommends everyone to use. Since there is no way to modify RSI in Alchem charts I can only "assume" it is set the way Gary would want it to be in order to match what he has in Qcharts.

Maybe someone with Qcharts can verify if these indicators match perfectly with Alchem charts. I'm only assuming that they do match.


This image is from Alchem showing TSLA using simple.



This is from TOS showing TSLA using Wilders


Notice the difference in the RSI lines. The RSI is the red/green lines directly underneath the candlestick chart box area. When the RSI in TOS is switched to 'simple' it will then match what you see in Alchem charts.

R



Edited 9 time(s). Last edit at 09/12/2020 11:02PM by RichieRick.
Re: Think Or Swim GW Chart Settings
September 13, 2020 10:53AM
I do appreciate the input. I will transition to Alchem if I cannot replicate Gary's settings in TOS, but it does seem to me there are those out there using TOS successfully. The average type really does seem to matter and so further insight is appreciated particularly with RSI.

Kevin
Re: Think Or Swim GW Chart Settings
September 14, 2020 07:43AM
Yes TOS works perfectly. I'm using TOS, but I have access to Alchem I use it to ensure that what I have in TOS matches Alchem. The assumption is Alchem is setup to match Qcharts, and I believe it is. Right now Gary still uses Qcharts but has stated numerous times that when Qcharts finally gets shut down he will switch to Alchem. I've never heard him mention TOS or Tradestation. I'm guessing he's aware of them, but feels no need to discuss them since it's not his preferred platform.

Having said all that, the only way I can get the RSI to match Alchem Charts is to use "simple". As you can see in the pics I posted using "Wilders" changes the indicators appearance a bit.

Also I've noticed that Alchem Charts has price data issues from time to time. Each time I find a price data difference in the charts and I compare it to TOS, TOS is the winner. I think the TOS price data is more accurate. Price data errors can and will affect the charts and the indicators.
Re: Think Or Swim GW Chart Settings
September 14, 2020 08:32AM
Hi,
I've been following this topic for a while and I'm still wrestling with charting platforms and cost thereof.
I took WSB and RTP classes years ago in Raleigh - and am kind of amazed that Gary is still using QCharts. I thought he was 100% behind Alchem.
Just curious, after all the problems QCharts had, has he given any specific reasons why he's still on QCharts all these years later and why he hasn't switched to Alchem?
Thanks,
Bill
Re: Think Or Swim GW Chart Settings
September 14, 2020 10:40AM
R
Thanks,
For MACD and DMI, what are you using for these, and are you in agreement with TCB on those two?

Kevin
Re: Think Or Swim GW Chart Settings
September 14, 2020 10:46AM
That's easy to answer. smiling smiley

First, he's not a computer guy. smiling smiley

He is 100% behind everyone switching over to Alchem charts. Alchem charts is built on a platform called Quant Share. Quant Share is the base program from which Alchem charts are built on. If you had an account and the knowledge you could duplicate Alchem charts on Quant Share exactly, but you better know what you're doing there, as Quant Share is less user friendly than Trade station or TOS.. smiling smiley

Gary stays on Qcharts because he's comfortable with it mostly. He has said many times that if/when Qcharts are ever shut down for good he will move to Alchem charts. He spends a little time using Alchem charts just so he can be familiar with how it works/looks for students, and to also be ready to move to it if Qcharts ever shuts down. Since Alchem Charts is it's own company he doesn't have total control of the platform. He's mentioned in the past that there are some things he doesn't love about Alchem Charts, even though it recommends it to all his students. I'm sure there's lots of things he doesn't like about Qcharts either, but still he wanted everyone to use that before Alchem Charts came along. smiling smiley

R
Re: Think Or Swim GW Chart Settings
September 14, 2020 10:48AM
KevinB Wrote:
-------------------------------------------------------
> R
> Thanks,
> For MACD and DMI, what are you using for these,
> and are you in agreement with TCB on those two?
>
> Kevin

Yes, those two are good to go with what TCB mentioned.
Re: Think Or Swim GW Chart Settings
September 14, 2020 10:51AM
OK Thank you both.

Kevin
Re: Think Or Swim GW Chart Settings
February 03, 2021 09:42PM
Hey, everyone. It's been a while since I've posted. Just wanted to give a quick update to this thread. The first post is very out of date now. It was originally meant for those who had taken Gary's 1-5 class because that manual had his indicator settings included. Well, that's no longer the case. Hence this update.

Below is a link to my basic WSB workspace. It includes only the indicators that are included with Thinkorswim. Each has been setup with the appropriate settings. If you would like to add the yellow auto-wave line, that is available for purchase from my website. It is a separate purchase because I had to program that one myself.

In the top, right corner of TOS click on "Setup" --> "Open shared item...", then copy and paste the following link into the pop-up dialog that opens.

[tos.mx]

- robert


Professional ThinkorSwim indicators for the average Joe
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