Stars Align Indicator ThinkorSwim TOS Script
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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 StocksWorks with the Think Or Swim trading platform
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