My two “go-to” programs are Stockcharts and TOS. StockCharts has expanded tremendously over the last few years. I do have a subscription as I feel I have gotten so much out of it in use and learning. They have expanded their scanning, sharpcharts, ACP, etc and I have started to use them more to do a lot of work. But I use TOS as my trading is through TD Ameritrade. And will continue in the future via TOS as TDA is absorbed by the borg, Schwab. Plus, TOS allows me to play with scripting and allows me to use RTD (real time data) transfer into Excel spreadsheets. I probably sound like a programmer, but that couldn’t be farther from the truth. I’m a rewired oncologist who is just enjoying exploring the geeky side of life and keeping my mind active. I’m no expert but am always learning. You need to decide how things fit for your goals and needs.
TOS is a massive program that I learn something new about daily. Unfortunately, I don’t always remember what I run across and often end-up relearning it weeks later. Such is life. Point is, I struggle with where to tell you to begin if you haven’t ever loaded it up. Other than to say, load it and just explore to start. It has a paper trade aspect that you need to log into as you start it.
There’s a guy on the internet, “Shortthestrike,” who I’ve seen some of his options video’s and has been pretty straightforward and clear. He has a TOS Tutorial for Beginners. I have not watched it, but strikes me that it’s likely a good generalized intro. There’s a few million others out there.
I am more than happy to share anything I have, especially since you have been kind enough and open to share your idea. The key to having any discussion and learning. As far as the specific script, I have decided to rewrite it specifically for your comments. What I posted was a hastily edited/adapted prior script and I would rather post something more specific. But again, I’m not a skilled coder, it may end up trash! Once I have that, will post.
Speaking of which, one significant problem with TOS strategies is their narrow limitations on order execution timing. This is especially problematic with Heikin-Ashi studies as the candles do not reflect gaps and what looks like a winner is really a looser given the timing of buys and sales. I understand you wait for the candle body close, but do you try to sneak in buys just before the close on some Fridays? Or always wait until the open on Monday for orders?
Look forward to more discussions.
Lakedog