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MC

Think or Swim Code/indicators

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Does anyone on here use Think or swim and have any of the great indicators coded like we have for Tradestation.

 

I would be interested in VWAP and 3bar trend mainly.

Also maybe a value chart, ttm trend, ttm scalper alert.

I don't know that it would be an option but a volume by price/price histogram.

 

Thanks guys :)

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I tried it out last year, I actually didn't even realize they have a scripting engine.

That's very interesting. Does it do backtesting on options?

I think it could be tough to find the stuff you want without coding it yourself though.

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I tried it out last year, I actually didn't even realize they have a scripting engine.

That's very interesting. Does it do backtesting on options?

I think it could be tough to find the stuff you want without coding it yourself though.

 

They do have custom coding...I'm no good at coding so I would have to beg or pay someone to do the dirty work if it's not easily ported over. ;)

 

I believe they are talking of backtesting soon being added, though I don't use them yet so I can't confirm that.

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...here is TTM squeeze...

....

declare lower;

input Length = 20;

input price = close;

######################

def e1 = (Highest(High, length) + Lowest(low, length)) / 2 + Average(close, length);

def osc = Inertia(price - e1 / 2, length);

plot oscp = osc;

 

def diff = reference bollingerbands(length = 20)."upperband" - reference KeltnerChannels."Upper_Band";

plot mid = 0;

mid.assignValueColor(if diff >= 0 then Color.UPTICK else Color.DOWNTICK);

 

#oscp.assignValueColor(if osc[1] < osc[0] then Color.CYAN else Color.magenta);

oscp.assignValueColor(if osc[1] < osc[0] then

if osc[0] >= 0 then

#UpPos

createColor(0, 255, 255) else

#UpNeg

createColor(204, 0, 204)

else if osc[0] >= 0 then

#DnPos

createColor(0, 155, 155) else

#DnNeg

createColor(255, 155, 255));

 

oscp.setPaintingStrategy(PaintingStrategy.HISTOGRAM);

mid.setPaintingStrategy(PaintingStrategy.POINTS);

...........

and here is VWAP

.....

plot Data = TotalSum(Volume * Close) / TotalSum(Volume);

................

and here is TICK

.............

declare lower;

plot data = high("$tick");

Plot Data2 = low("$tick");

plot ZeroLine = 0;

plot up = 800;

plot down = -1000;

Plot Noise = 600;

Plot Noise2 = -600;

zeroline.setDefaultColor(color.blue);

Noise.setDefaultColor(color.yellow);

noise2.setDefaultColor(color.yellow);

up.setDefaultColor(color.uptick);

down.setDefaultColor(color.uptick);

data.assignValueColor(if data >= 800 then Color.upTICK else Color.blue);

data.setLineWeight(2);

Data.setPaintingStrategy(PaintingStrategy.HISTOGRAM);

data2.assignValueColor(if data2 <= -1000 then Color.downtick else Color.blue);

data2.setLineWeight(2);

Data2.setPaintingStrategy(PaintingStrategy.HISTOGRAM);

ZeroLine.setDefaultColor(GetColor(0));

............

Does anyone on here use Think or swim and have any of the great indicators coded like we have for Tradestation.

I would be interested in VWAP and 3bar trend mainly.

Also maybe a value chart, ttm trend, ttm scalper alert.

I don't know that it would be an option but a volume by price/price histogram.

Thanks guys :)

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Thanks...very cool. The squeeze doesn't load on the screen for some reason and it's red in the list of active indicators. Wonder if I'm doing something wrong.

 

Any ideas?

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try again ?

 

 

declare lower;

input Length = 20;

input price = close;

######################

def e1 = (Highest(High, length) + Lowest(low, length)) / 2 + Average(close, length);

def osc = Inertia(price - e1 / 2, length);

plot oscp = osc;

 

def diff = reference bollingerbands(length = 20)."upperband" - reference KeltnerChannels."Upper_Band";

plot mid = 0;

mid.assignValueColor(if diff >= 0 then Color.UPTICK else Color.DOWNTICK);

 

#oscp.assignValueColor(if osc[1] < osc[0] then Color.CYAN else Color.magenta);

oscp.assignValueColor(if osc[1] < osc[0] then

if osc[0] >= 0 then

#UpPos

createColor(0, 255, 255) else

#UpNeg

createColor(204, 0, 204)

else if osc[0] >= 0 then

#DnPos

createColor(0, 155, 155) else

#DnNeg

createColor(255, 155, 255));

 

oscp.setPaintingStrategy(PaintingStrategy.HISTOGRAM);

mid.setPaintingStrategy(PaintingStrategy.POINTS);

 

 

 

 

Thanks...very cool. The squeeze doesn't load on the screen for some reason and it's red in the list of active indicators. Wonder if I'm doing something wrong.

Any ideas?

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elovmer...same thing on my end still. Sorry to be a pain.

Has anybody else tried the code for squeeze and had it work? I've never had a custom indicator come up red in my list so I'm confused as to whats wrong. :crap:

 

Edit---

Found it...the space in code for "upper_ba nd" slipped by me. I deleted that space and shes good to go.

 

Thanks a bunch. Did you code these? I have one other indicator I miss from Tradestation that I wonder about having coded for TOS.

Edited by MC

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currently there is no way to do this on tos charts,,,, i was however able to make a POC indicator that i have tweaked for 2min on the ES, enjoy!

 

 

#developing poc by popstocks, for 2min

 

def swi = if getDayOfMonth() != getDayOfMonth()[1] or secondsfromtime(1614)==0 then 1 else 0;

 

rec fir = if swi == 1 then close else fir[1];

rec b1 = if swi == 1 then 0 else if between(close, fir, fir * 1.002) then volume + b1[1] else b1[1];

rec b2 = if swi == 1 then 0 else if between(close, fir * 0.998, fir) then volume + b2[1] else b2[1];

 

rec d1 = if swi == 1 then 0 else if between(close, fir * 1.002, fir * 1.004) then volume + d1[1] else d1[1];

rec d2 = if swi == 1 then 0 else if between(close, fir * 1.004, fir * 1.006) then volume + d2[1] else d2[1];

rec d3 = if swi == 1 then 0 else if between(close, fir * 1.006, fir * 1.008) then volume + d3[1] else d3[1];

rec d4 = if swi == 1 then 0 else if between(close, fir * 1.008, fir * 1.010) then volume + d4[1] else d4[1];

rec d5 = if swi == 1 then 0 else if between(close, fir * 1.010, fir * 1.012) then volume + d5[1] else d5[1];

rec d6 = if swi == 1 then 0 else if between(close, fir * 1.012, fir * 1.014) then volume + d6[1] else d6[1];

rec d7 = if swi == 1 then 0 else if between(close, fir * 1.014, fir * 1.016) then volume + d7[1] else d7[1];

rec d8 = if swi == 1 then 0 else if between(close, fir * 1.016, fir * 1.018) then volume + d8[1] else d8[1];

rec d9 = if swi == 1 then 0 else if between(close, fir * 1.018, fir * 1.020) then volume + d9[1] else d9[1];

rec d10 = if swi == 1 then 0 else if between(close, fir * 1.020, fir * 1.022) then volume + d10[1] else d10[1];

rec d11 = if swi == 1 then 0 else if between(close, fir * 1.022, fir * 1.024) then volume + d11[1] else d11[1];

rec d12 = if swi == 1 then 0 else if between(close, fir * 1.024, fir * 1.026) then volume + d12[1] else d12[1];

rec d13 = if swi == 1 then 0 else if between(close, fir * 1.026, fir * 1.028) then volume + d13[1] else d13[1];

rec d14 = if swi == 1 then 0 else if between(close, fir * 1.028, fir * 1.030) then volume + d14[1] else d14[1];

 

rec z1 = if swi == 1 then 0 else if between(close, fir * 0.996, fir * 0.998) then volume + z1[1] else z1[1];

rec z2 = if swi == 1 then 0 else if between(close, fir * 0.994, fir * 0.996) then volume + z2[1] else z2[1];

rec z3 = if swi == 1 then 0 else if between(close, fir * 0.992, fir * 0.994) then volume + z3[1] else z3[1];

rec z4 = if swi == 1 then 0 else if between(close, fir * 0.990, fir * 0.992) then volume + z4[1] else z4[1];

rec z5 = if swi == 1 then 0 else if between(close, fir * 0.988, fir * 0.990) then volume + z5[1] else z5[1];

rec z6 = if swi == 1 then 0 else if between(close, fir * 0.986, fir * 0.988) then volume + z6[1] else z6[1];

rec z7 = if swi == 1 then 0 else if between(close, fir * 0.984, fir * 0.986) then volume + z7[1] else z7[1];

rec z8 = if swi == 1 then 0 else if between(close, fir * 0.982, fir * 0.984) then volume + z8[1] else z8[1];

rec z9 = if swi == 1 then 0 else if between(close, fir * 0.980, fir * 0.982) then volume + z9[1] else z9[1];

rec z10 = if swi == 1 then 0 else if between(close, fir * 0.978, fir * 0.980) then volume + z10[1] else z10[1];

rec z11 = if swi == 1 then 0 else if between(close, fir * 0.976, fir * 0.978) then volume + z11[1] else z11[1];

rec z12 = if swi == 1 then 0 else if between(close, fir * 0.974, fir * 0.976) then volume + z12[1] else z12[1];

rec z13 = if swi == 1 then 0 else if between(close, fir * 0.972, fir * 0.974) then volume + z13[1] else z13[1];

rec z14 = if swi == 1 then 0 else if between(close, fir * 0.970, fir * 0.972) then volume + z14[1] else z14[1];

 

 

 

 

def o = Max(d1, Max(d2, Max(d3, Max(d4, Max(d5, Max(d6, Max(d7, 0)))))));

 

 

def n = Max(d8, Max(d9, Max(d10, Max(d11, Max(d12, Max(d13, Max(d14, 0)))))));

def w = Max(z1, Max(z2, Max(z3, Max(z4, Max(z5, Max(z6, Max(z7, 0)))))));

def s = Max(z8, Max(z9, Max(z10, Max(z11, Max(z12, Max(z13, Max(z14, 0)))))));

def g = Max(b1, Max(b2, Max(n, Max(w, Max(s, o)))));

 

rec po = if g > g[1] then ( ( sum(hlc3*volume,20) / sum(volume,20) ) + average(hlc3,15) )/2 else po[1];

rec pop = if swi==1 then po[1] else pop[1];

def poc = if pop == 0 then double.nan else pop;

plot pz = poc * 1.0015;

plot py = poc * 0.9985;

 

def yo = po;

plot yos = if isnan(close[-1]) then double.NaN else if yo != 0 then yo else double.nan;

#yos.SetPaintingStrategy(paintingstrategy.points);

yos.hidebubble();

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....are you sure there is no way to do it ? volume by price....

...about VWAP.....

...the way i use it on TOS is ... during globex.... i include the previous days action ... and look for a return to VWAP....

.... or look for a return to it ... during regular hours if it did not make it during globex....

 

...how do you use POINT OF CHANGE... on the 2 min chart ?

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Hello all.

 

Here is the TICK

 

declare lower;

plot data = high("$tick");

Plot Data2 = low("$tick");

plot ZeroLine = 0;

plot up = 800;

plot down = -1000;

Plot Noise = 600;

Plot Noise2 = -600;

zeroline.setDefaultColor( color.blue);

Noise.setDefaultColor(color.yellow);

noise2.setDefaultColor(color.yellow);

up.setDefaultColor(color. uptick);

down.setDefaultColor(color.uptick);

data.assignValueColor(if data >= 800 then Color.upTICK else Color.blue);

data.setLineWeight(2);

Data.setPaintingStrategy( PaintingStrategy.HISTOGRAM);

data2.assignValueColor(if data2 <= -1000 then Color.downtick else Color.blue);

data2.setLineWeight(2);

Data2.setPaintingStrategy (PaintingStrategy.HISTOGRAM);

ZeroLine.setDefaultColor( GetColor(0));

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Hi, the "getDayofMonth" string is an error. Do you know how to fix this?

 

currently there is no way to do this on tos charts,,,, i was however able to make a POC indicator that i have tweaked for 2min on the ES, enjoy!

 

 

#developing poc by popstocks, for 2min

 

def swi = if getDayOfMonth() != getDayOfMonth()[1] or secondsfromtime(1614)==0 then 1 else 0;

 

rec fir = if swi == 1 then close else fir[1];

rec b1 = if swi == 1 then 0 else if between(close, fir, fir * 1.002) then volume + b1[1] else b1[1];

rec b2 = if swi == 1 then 0 else if between(close, fir * 0.998, fir) then volume + b2[1] else b2[1];

 

rec d1 = if swi == 1 then 0 else if between(close, fir * 1.002, fir * 1.004) then volume + d1[1] else d1[1];

rec d2 = if swi == 1 then 0 else if between(close, fir * 1.004, fir * 1.006) then volume + d2[1] else d2[1];

rec d3 = if swi == 1 then 0 else if between(close, fir * 1.006, fir * 1.008) then volume + d3[1] else d3[1];

rec d4 = if swi == 1 then 0 else if between(close, fir * 1.008, fir * 1.010) then volume + d4[1] else d4[1];

rec d5 = if swi == 1 then 0 else if between(close, fir * 1.010, fir * 1.012) then volume + d5[1] else d5[1];

rec d6 = if swi == 1 then 0 else if between(close, fir * 1.012, fir * 1.014) then volume + d6[1] else d6[1];

rec d7 = if swi == 1 then 0 else if between(close, fir * 1.014, fir * 1.016) then volume + d7[1] else d7[1];

rec d8 = if swi == 1 then 0 else if between(close, fir * 1.016, fir * 1.018) then volume + d8[1] else d8[1];

rec d9 = if swi == 1 then 0 else if between(close, fir * 1.018, fir * 1.020) then volume + d9[1] else d9[1];

rec d10 = if swi == 1 then 0 else if between(close, fir * 1.020, fir * 1.022) then volume + d10[1] else d10[1];

rec d11 = if swi == 1 then 0 else if between(close, fir * 1.022, fir * 1.024) then volume + d11[1] else d11[1];

rec d12 = if swi == 1 then 0 else if between(close, fir * 1.024, fir * 1.026) then volume + d12[1] else d12[1];

rec d13 = if swi == 1 then 0 else if between(close, fir * 1.026, fir * 1.028) then volume + d13[1] else d13[1];

rec d14 = if swi == 1 then 0 else if between(close, fir * 1.028, fir * 1.030) then volume + d14[1] else d14[1];

 

rec z1 = if swi == 1 then 0 else if between(close, fir * 0.996, fir * 0.998) then volume + z1[1] else z1[1];

rec z2 = if swi == 1 then 0 else if between(close, fir * 0.994, fir * 0.996) then volume + z2[1] else z2[1];

rec z3 = if swi == 1 then 0 else if between(close, fir * 0.992, fir * 0.994) then volume + z3[1] else z3[1];

rec z4 = if swi == 1 then 0 else if between(close, fir * 0.990, fir * 0.992) then volume + z4[1] else z4[1];

rec z5 = if swi == 1 then 0 else if between(close, fir * 0.988, fir * 0.990) then volume + z5[1] else z5[1];

rec z6 = if swi == 1 then 0 else if between(close, fir * 0.986, fir * 0.988) then volume + z6[1] else z6[1];

rec z7 = if swi == 1 then 0 else if between(close, fir * 0.984, fir * 0.986) then volume + z7[1] else z7[1];

rec z8 = if swi == 1 then 0 else if between(close, fir * 0.982, fir * 0.984) then volume + z8[1] else z8[1];

rec z9 = if swi == 1 then 0 else if between(close, fir * 0.980, fir * 0.982) then volume + z9[1] else z9[1];

rec z10 = if swi == 1 then 0 else if between(close, fir * 0.978, fir * 0.980) then volume + z10[1] else z10[1];

rec z11 = if swi == 1 then 0 else if between(close, fir * 0.976, fir * 0.978) then volume + z11[1] else z11[1];

rec z12 = if swi == 1 then 0 else if between(close, fir * 0.974, fir * 0.976) then volume + z12[1] else z12[1];

rec z13 = if swi == 1 then 0 else if between(close, fir * 0.972, fir * 0.974) then volume + z13[1] else z13[1];

rec z14 = if swi == 1 then 0 else if between(close, fir * 0.970, fir * 0.972) then volume + z14[1] else z14[1];

 

 

 

 

def o = Max(d1, Max(d2, Max(d3, Max(d4, Max(d5, Max(d6, Max(d7, 0)))))));

 

 

def n = Max(d8, Max(d9, Max(d10, Max(d11, Max(d12, Max(d13, Max(d14, 0)))))));

def w = Max(z1, Max(z2, Max(z3, Max(z4, Max(z5, Max(z6, Max(z7, 0)))))));

def s = Max(z8, Max(z9, Max(z10, Max(z11, Max(z12, Max(z13, Max(z14, 0)))))));

def g = Max(b1, Max(b2, Max(n, Max(w, Max(s, o)))));

 

rec po = if g > g[1] then ( ( sum(hlc3*volume,20) / sum(volume,20) ) + average(hlc3,15) )/2 else po[1];

rec pop = if swi==1 then po[1] else pop[1];

def poc = if pop == 0 then double.nan else pop;

plot pz = poc * 1.0015;

plot py = poc * 0.9985;

 

def yo = po;

plot yos = if isnan(close[-1]) then double.NaN else if yo != 0 then yo else double.nan;

#yos.SetPaintingStrategy(paintingstrategy.points);

yos.hidebubble();

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Yeah, TOS keeps changing their syntax with every other update. It is a very annoying habit of theirs!

 

Copy the text to a notepad and do a find replace.

 

You want to change all of the 'getdayofmonth' to just 'getday'

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There were a couple of extra spaces, and the bollingerbands reference was broken. This should work:

 

declare lower;

input Length = 20;

input price = close;

######################

def e1 = (Highest(High, length) + Lowest(low, length)) / 2 + Average(close, length);

def osc = Inertia(price - e1 / 2, length);

plot oscp = osc;

 

def diff = reference BollingerBandsSMA(length = 20)."upperband" - reference KeltnerChannels."Upper_Ba nd";

plot mid = 0;

mid.assignValueColor(if diff >= 0 then Color.UPTICK else Color.DOWNTICK);

 

#oscp.assignValueColor(if osc[1] < osc[0] then Color.CYAN else Color.magenta);

oscp.assignValueColor(if osc[1] < osc[0] then

if osc[0] >= 0 then

#UpPos

createColor(0, 255, 255) else

#UpNeg

createColor(204, 0, 204)

else if osc[0] >= 0 then

#DnPos

createColor(0, 155, 155) else

#DnNeg

createColor(255, 155, 255));

 

oscp.setPaintingStrategy( PaintingStrategy.HISTOGRAM);

mid.setPaintingStrategy(PaintingStrategy.POINTS);

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Hmmm. The extra spaces seem to be a problem with cutting/pasting into TL. The problem areas in my previous post are:

 

def diff = reference BollingerBandsSMA(length = 20)."upperband" - reference KeltnerChannels."Upper_Band";

oscp.setPaintingStrategy( PaintingStrategy.HISTOGRAM);

mid.setPaintingStrategy(PaintingStrategy.POINTS);

 

If you strip out these spaces, the indicator should verify...

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thanks to everybody here!!

suggestion--- the thinkscript manual is really scarce on examples-- it kind of assumes someone is familiar with coding generally. it would really be helpful if someone could explain SIMPLE functions in a concrete way, like building blocks to create a desired result. EXAMPLE: i'm struggling to write this simple code (and i'd appreciate any help- i keep getting errors)---

========================

1. to display two stocks upper (any format, candles or whatever, avg price or whatever)

2. single plot in lower study that shows the difference between the two stocks, but using the avg of daily hi+lo+close.===============================

see what i mean? if someone had a building block that showed them how to plot multiple stocks (upper), and another building block that showed them how to plot interactions (+,-, /,sqrt etc) of those stock values (lower), they could build many indicators.

anyway, just a suggestion and request from a frustrated newbie coder--

Dennis

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Hi Dennis,

 

First, I'm not a TOS coding expert, but I have played around a little. A good way to learn the language seems to be by looking at the predefined indicators that have source code. These are the ones with the little scroll or paper icon next to them (double click on it).

 

To your specific items, I played around a little and came up with these simple examples that you can expanded on (please share!):

 

1) display two stocks in upper:

 

# Simple example of plotting two stock in upper

# Data1 will be the primary stock you are viewing

plot Data1 = close;

# Data2 will be the comparison stock

plot Data2 = close("c");

 

2) display the difference between two stocks in lower:

declare lower;

def Data1 = close;

def Data2 = close("c");

plot Diff = Data1 - Data2;

 

There is also several "comparison" studies that compare your current stock to various others. It looks like you can change the line style and stock to compare to as well.

 

Hope that helps,

John

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Hi Dennis,

 

First, I'm not a TOS coding expert, but I have played around a little. A good way to learn the language seems to be by looking at the predefined indicators that have source code. These are the ones with the little scroll or paper icon next to them (double click on it).

 

To your specific items, I played around a little and came up with these simple examples that you can expanded on (please share!):

 

1) display two stocks in upper:

 

# Simple example of plotting two stock in upper

# Data1 will be the primary stock you are viewing

plot Data1 = close;

# Data2 will be the comparison stock

plot Data2 = close("c");

 

2) display the difference between two stocks in lower:

declare lower;

def Data1 = close;

def Data2 = close("c");

plot Diff = Data1 - Data2;

 

There is also several "comparison" studies that compare your current stock to various others. It looks like you can change the line style and stock to compare to as well.

 

Hope that helps,

John

wow!! thanks, John--- that was fast! okay, i'm going to play with this a bit and come back here to share--- thank YOU -- this is one of my simplest but most critical indicators

 

EDIT~~~ that was exactly what i meant by "building blocks" to help a newbie understand-- from your example i can see how to build some other stuff too

 

Bump: im still working on code you provided, John, which has much more potential than this from their manual--- somehow between the two i should be able to finally get exactly what i want---

++++++++++++++++++++++++++

declare lower;

plot data = close-close("enter symbol");

++++++++++++++++++++++++++

 

Bump: im still working on code you provided, John, which has much more potential than this from their manual--- somehow between the two i should be able to finally get exactly what i want---

++++++++++++++++++++++++++

declare lower;

plot data = close-close("enter symbol");

++++++++++++++++++++++++++

 

Bump: im still working on code you provided, John, which has much more potential than this from their manual--- somehow between the two i should be able to finally get exactly what i want---

++++++++++++++++++++++++++

declare lower;

plot data = close-close("enter symbol");

++++++++++++++++++++++++++

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....got a TTM squeeze indicator.....

....works very well..... as does TSI

....is that what you want ? ttm squeeze ?

 

..... anybody have a ERGODIC indicator for tos ?

 

.....anybody have any idea what settings to use with SMI indicator ?

Does anyone have the TTM Value Chart indicator for TOS?

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    • also ... and barely on topic... Winners (always*) overpay. Buying the dips is a subscription to the belief that winners win by underpaying - when in actuality winners (inevitably/always*) win by overpaying... it’s amazing the percentage of traders who think winners win by underpaying ... “Winners (always*) overpay.” ...  One way to implement this ‘belief’ is to only reenter when prices have emphatically resumed the 'trend' .   (Fwiw, While “Winners (always*) overpay.” holds true in most endeavors (relationships, business, sports, etc...) - “Winners (always*) overpay.”  is especially true for auctions... continuous auctions included.)
    • re:  "Does it make sense to always buy the dips?  “Buy the dip.”  You hear this all the time in crypto investing trading speculation gambling. [zdo taking some liberties] It refers, of course, to buying more bitcoin (or digital assets) when they go down in price: when the price “dips.” Some people brag about “buying the dip," showing they know better than the crowd. Others “buy the dip” as an investment strategy: they’re getting a bargain. The problem is, buying the dip is a fallacy. You can’t buy the dip, because you can't see the total dip until much later. First, I’ll explain this in a way that will make it simple and obvious to you; then I’ll show you a better way of investing. You Only Know the Dip in Hindsight When people talk about “buying the dip,” what they’re really saying is, “I bought when the price was going down.” " ... example of a dip ... 
    • Date: 19th April 2024. Weekly Commodity Market Update: Oil Prices Correct and Supply Concerns Persist.   The ongoing developments in the Middle East sparked a wave of risk aversion and fueled supply concerns and investors headed for safety. Hopes for imminent rate cuts from the Federal Reserve diminish while attention is now turning towards the demand outlook. The Gold price hit a high of $2417.89 per ounce overnight. Sentiment has already calmed down again and bullion is trading at $2376.50 per ounce as haven flows ease. Oil prices initially moved higher as concern over escalating tensions with the WTI contract hit a session high of $85.508 per barrel overnight, before correcting to currently $81.45 per barrel. Oil Prices Under Pressure Amid Middle East Tensions Last week, commodity indexes showed little movement, with Oil prices undergoing a slight correction. Meanwhile, Gold reached yet another record high, mirroring the upward trend in cocoa prices. Once again today, USOil prices experienced a correction and has remained under pressure, retesting the 50-day EMA at $81.00 as we moving into the weekend. Hence, despite the Israel’s retaliatory strike on Iran, sentiments stabilized following reports suggesting a measured response aimed at avoiding further escalation. Brent crude futures witnessed a more than 4% leap, driven by concerns over potential disruptions to oil supplies in the Middle East, only to subsequently erase all gains. Similarly with USOIL, UKOIL hovers just below $87 per barrel, marginally below Thursday’s closing figures. Nevertheless, volatility is expected to continue in the market as several potential risks loom:   Disruption to the Strait of Hormuz: The possibility of Iran disrupting navigation through the vital shipping lane, is still in play. The Strait of Hormuz serves as the Persian Gulf’s primary route to international waters, with approximately 21 million barrels of oil passing through daily. Recent events, including Iran’s seizure of an Israel-linked container ship, underscore the geopolitical sensitivity of the region. Tougher Sanctions on Iran: Analysts speculate that the US may impose stricter sanctions on Iranian oil exports or intensify enforcement of existing restrictions. With global oil consumption reaching 102 million barrels per day, Iran’s production of 3.3 million barrels remains significant. Recent actions targeting Venezuelan oil highlight the potential for increased pressure on Iranian exports. OPEC Output Increases: Despite the desire for higher prices, OPEC members such as Saudi Arabia and Russia have constrained output in recent years. However, sustained crude prices above $100 per barrel could prompt concerns about demand and incentivize increased production. The OPEC may opt to boost oil output should tensions escalate further and prices surge. Ukraine Conflict: Amidst the focus on the Middle East, markets overlooking Russia’s actions in Ukraine. Potential retaliatory strikes by Kyiv on Russian oil infrastructure could impact exports, adding further complexity to global oil markets.   Technical Analysis USOIL is marking one of the steepest weekly declines witnessed this year after a brief period of consolidation. The breach below the pivotal support level of 84.00, coupled with the descent below the mid of the 4-month upchannel, signals a possible shift in market sentiment towards a bearish trend reversal. Adding to the bearish outlook are indications such as the downward slope in the RSI. However, the asset still hold above the 50-day EMA which coincides also with the mid of last year’s downleg, with key support zone at $80.00-$81.00. If it breaks this support zone, the focus may shift towards the 200-day EMA and 38.2% Fib. level at $77.60-$79.00. Conversely, a rejection of the $81 level and an upside potential could see the price returning back to $84.00. A break of the latter could trigger the attention back to the December’s resistance, situated around $86.60. A breakthrough above this level could ignite a stronger rally towards the $89.20-$90.00 zone. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past perfrmance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date: 18th April 2024. Market News – Stock markets benefit from Dollar correction. Economic Indicators & Central Banks:   Technical buying, bargain hunting, and risk aversion helped Treasuries rally and unwind recent losses. Yields dropped from the recent 2024 highs. Asian stock markets strengthened, as the US Dollar corrected in the wake of comments from Japan’s currency chief Masato Kanda, who said G7 countries continue to stress that excessive swings and disorderly moves in the foreign exchange market were harmful for economies. US Stockpiles expanded to 10-month high. The data overshadowed the impact of geopolitical tensions in the Middle East as traders await Israel’s response to Iran’s unprecedented recent attack. President Joe Biden called for higher tariffs on imports of Chinese steel and aluminum.   Financial Markets Performance:   The USDIndex stumbled, falling to 105.66 at the end of the day from the intraday high of 106.48. It lost ground against most of its G10 peers. There wasn’t much on the calendar to provide new direction. USDJPY lows retesting the 154 bottom! NOT an intervention yet. BoJ/MoF USDJPY intervention happens when there is more than 100+ pip move in seconds, not 50 pips. USOIL slumped by 3% near $82, as US crude inventories rose by 2.7 million barrels last week, hitting the highest level since last June, while gauges of fuel demand declined. Gold strengthened as the dollar weakened and bullion is trading at $2378.44 per ounce. Market Trends:   Wall Street closed in the red after opening with small corrective gains. The NASDAQ underperformed, slumping -1.15%, with the S&P500 -0.58% lower, while the Dow lost -0.12. The Nikkei closed 0.2% higher, the Hang Seng gained more than 1. European and US futures are finding buyers. A gauge of global chip stocks and AI bellwether Nvidia Corp. have both fallen into a technical correction. The TMSC reported its first profit rise in a year, after strong AI demand revived growth at the world’s biggest contract chipmaker. The main chipmaker to Apple Inc. and Nvidia Corp. recorded a 9% rise in net income, beating estimates. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date: 17th April 2024. Market News – Appetite for risk-taking remains weak. Economic Indicators & Central Banks:   Stocks, Treasury yields and US Dollar stay firmed. Fed Chair Powell added to the recent sell off. His slightly more hawkish tone further priced out chances for any imminent action and the timing of a cut was pushed out further. He suggested if higher inflation does persist, the Fed will hold rates steady “for as long as needed.” Implied Fed Fund: There remains no real chance for a move on May 1 and at their intraday highs the June implied funds rate future showed only 5 bps, while July reflected only 10 bps. And a full 25 bps was not priced in until November, with 38 bps in cuts seen for 2024. US & EU Economies Diverging: Lagarde says ECB is moving toward rate cuts – if there are no major shocks. UK March CPI inflation falls less than expected. Output price inflation has started to nudge higher, despite another decline in input prices. Together with yesterday’s higher than expected wage numbers, the data will add to the arguments of the hawks at the BoE, which remain very reluctant to contemplate rate cuts. Canada CPI rose 0.6% in March, double the 0.3% February increase BUT core eased. The doors are still open for a possible cut at the next BoC meeting on June 5. IMF revised up its global growth forecast for 2024 with inflation easing, in its new World Economic Outlook. This is consistent with a global soft landing, according to the report. Financial Markets Performance:   USDJPY also inched up to 154.67 on expectations the BoJ will remain accommodative and as the market challenges a perceived 155 red line for MoF intervention. USOIL prices slipped -0.15% to $84.20 per barrel. Gold rose 0.24% to $2389.11 per ounce, a new record closing high as geopolitical risks overshadowed the impacts of rising rates and the stronger dollar. Market Trends:   Wall Street waffled either side of unchanged on the day amid dimming rate cut potential, rising yields, and earnings. The major indexes closed mixed with the Dow up 0.17%, while the S&P500 and NASDAQ lost -0.21% and -0.12%, respectively. Asian stock markets mostly corrected again, with Japanese bourses underperforming and the Nikkei down -1.3%. Mainland China bourses were a notable exception and the CSI 300 rallied 1.4%, but the MSCI Asia Pacific index came close to erasing the gains for this year. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.vvvvvvv
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