From TradersList Editors
From TradersList Editors
Incorporate this free ThinkorSwim Price Action Indicator to identify trading opportunities and optimize entry and exit points based on probability signals.
Incorporate this free ThinkorSwim Price Action Indicator to identify trading opportunities and optimize entry and exit points based on probability signals.
High Probability Setup Indicator for ThinkOrSwim: Multi-Signal Confluence Trading Tool
High Probability Setup Indicator for ThinkOrSwim: Multi-Signal Confluence Trading Tool

by benten on ThinkOrSwim

by benten on ThinkOrSwim
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High Probability Setup Indicator For ThinkOrSwim
High Probability Setup Indicator For ThinkOrSwim
The High Probability Setup Indicator for ThinkorSwim is an indicator based on another TradingView Indicato highlighting reversal setups with stacked confluence from multiple indicators. Includes distinction between low, medium and high probability signals based on amount of confluence involved.
The High Probability Setup Indicator for ThinkorSwim is an indicator based on another TradingView Indicato highlighting reversal setups with stacked confluence from multiple indicators. Includes distinction between low, medium and high probability signals based on amount of confluence involved.

Get on ThinkOrSwim
This indicator is available on ThinkOrSwim charting platform. Signing up for a free account and downloading ThinkOrSwim software is required.

Get on ThinkOrSwim
This indicator is available on ThinkOrSwim charting platform. Signing up for a free account and downloading ThinkOrSwim software is required.
🔑
Open Source
Listing has publically available source code that can be audited and modified as needed.
🔑
Open Source
Listing has publically available source code that can be audited and modified as needed.
💸
Free Access
All features of this listing are fully free to use with no pricing tiers. Simply start using.
💸
Free Access
All features of this listing are fully free to use with no pricing tiers. Simply start using.
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Trusted Publisher
Publisher of this listing is well recognized in social channels and receives overwhelmingly positive feedback.
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Trusted Publisher
Publisher of this listing is well recognized in social channels and receives overwhelmingly positive feedback.
Published by benten on ThinkOrSwim
Published by benten on ThinkOrSwim
Multi-Indicator Confluence Scoring
This indicator stacks signals from multiple underlying technical tools and scores each setup by how many conditions align simultaneously. Rather than relying on a single indicator, it measures the degree of agreement across several - then labels the signal as low, medium or high probability.
Probability Tiers Explained
A low probability signal means only a few conditions triggered, which might still be tradeable but carries more risk. Medium probability shows moderate agreement across tools. High probability setups fire when the maximum number of confluent conditions align - these are the setups worth prioritizing.
Multi-Indicator Confluence Scoring
This indicator stacks signals from multiple underlying technical tools and scores each setup by how many conditions align simultaneously. Rather than relying on a single indicator, it measures the degree of agreement across several - then labels the signal as low, medium or high probability.
Probability Tiers Explained
A low probability signal means only a few conditions triggered, which might still be tradeable but carries more risk. Medium probability shows moderate agreement across tools. High probability setups fire when the maximum number of confluent conditions align - these are the setups worth prioritizing.
Reversal Setup Focus
The indicator is designed primarily around reversal setups, highlighting moments where price is likely to change direction. By requiring multiple tools to agree on a reversal at the same time - such as RSI, moving averages and price patterns - false signals are significantly reduced.
Practical Filtering for Trade Plans
Use the probability tiers as a filter for your trade plan. Only take high probability signals for conservative approaches, or include medium signals when you want more opportunities. The tiered system lets each trader calibrate risk and frequency to match their personal trading style.
Reversal Setup Focus
The indicator is designed primarily around reversal setups, highlighting moments where price is likely to change direction. By requiring multiple tools to agree on a reversal at the same time - such as RSI, moving averages and price patterns - false signals are significantly reduced.
Practical Filtering for Trade Plans
Use the probability tiers as a filter for your trade plan. Only take high probability signals for conservative approaches, or include medium signals when you want more opportunities. The tiered system lets each trader calibrate risk and frequency to match their personal trading style.
Automatic detection of key reversals
Automatic detection of key reversals
This indicator stacks signals from multiple technical tools and scores each setup by how many conditions align simultaneously. Signals are labeled as low, medium or high probability based on the degree of confluence.
This indicator stacks signals from multiple technical tools and scores each setup by how many conditions align simultaneously. Signals are labeled as low, medium or high probability based on the degree of confluence.
Filter Setups by Confluence Count
Rather than relying on a single indicator, the tool measures agreement across several. High probability setups fire when maximum confluent conditions align.
Focus on Statistically Extreme Points
Low probability means few conditions triggered. Medium shows moderate agreement. Use probability tiers as a filter calibrated to your risk tolerance.
Let the Tool Scan for Reversal Patterns
The indicator highlights reversal moments where multiple tools agree. By requiring RSI, moving averages and price patterns to align, false signals reduce significantly.
Common Questions About Confluence-Based Signals
Common Questions About Confluence-Based Signals
Multi-indicator confluence scoring aims to filter out weak signals, but understanding how probability tiers work is essential. Here are common questions about confluence trading.
Multi-indicator confluence scoring aims to filter out weak signals, but understanding how probability tiers work is essential. Here are common questions about confluence trading.
What indicators contribute to the probability scoring?
The indicator combines signals from multiple technical tools such as RSI, moving averages and price patterns. When more conditions align simultaneously, the probability tier increases. Exact components depend on the specific script version.
Should I only trade high probability signals and ignore low probability ones?
That depends on your risk tolerance. High probability signals have more confluence but occur less frequently. Some traders include medium signals for more opportunities while accepting slightly lower win rates. Match the tier to your trading plan.
Why do high probability signals sometimes fail?
No signal works 100% of the time. Markets can gap against positions on news or experience unusual conditions. Probability tiers improve odds but do not guarantee outcomes. Always use appropriate position sizing and stop losses.
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Web sentiment
Web sentiment
Traders online feel positive about the High Probability Setup Indicator for ThinkorSwim, praising its usefulness, customization, and supportive community engagement.
Traders online feel positive about the High Probability Setup Indicator for ThinkorSwim, praising its usefulness, customization, and supportive community engagement.
Source: Online Discussion
Source: Online Discussion
Source: Online Discussion
✍️
✍️
TradersList Reviews (6)
TradersList Reviews (6)
TradersList Community has given this listing four stars, indicating a well trusted listing with great utility value. This listing is one of the better ones on TradersList.
TradersList Community has given this listing four stars, indicating a well trusted listing with great utility value. This listing is one of the better ones on TradersList.
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Source: TradersList Reviews
Source: TradersList Reviews

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by goingdark365

Free
ThinkOrSwim Indicator
Bollinger bandswith Rsi ,Mfi, Rvol For ThinkOrSwim
🔑
🌐
Bollinger bandswith Rsi, Mfi, Rvol For ThinkOrSwim is a free ThinkOrSwim indicator combining Bollinger Bands with RSI, MFI, and relative volume into one for reading sentiment from multiple indicators in one view.

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by mbarcala

Free
ThinkOrSwim Indicator
dBands Upper Indicator For ThinkOrSwim
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🌐
✅
dBands Upper Indicator For ThinkOrSwim is a free Indicator that combines Bollinger Bands and Keltner Channel into one tool with variety of customziation options. Useful for identifying support, resistance as well as potential breakouts.

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by ommni007

Free
ThinkOrSwim Indicator
Day of Week Gap Analytics For ThinkOrSwim
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✅
Day of Week Gap Analytics For ThinkOrSwim is a free Indicator that analyzes cumulative tick changes on gap bars for each day of the week for discovering time based statistical edge.

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by benten

Free
ThinkOrSwim Indicator
Rahul Mohindar Oscillator (RMO) Indicator For ThinkOrSwim
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The Rahul Mohindar Oscillator (RMO) Indicator for ThinkorSwim identifies potential market reversals and momentum slowdowns based on the oscillator movement. Useful for visually identifying different trending stages.

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by tptrades

Free
ThinkOrSwim Indicator
Wick Pressure For ThinkOrSwim
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Wick Pressure For ThinkOrSwim is an Indicator that analyzes multiple wick formations at overbought and oversold levels for a filtered and refined identifying of buying and selling pressure.

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by benten

Free
ThinkOrSwim Indicator
Leledc Exhaustion Indicator For ThinkOrSwim
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Leledc Exhaustion Indicator for ThinkorSwim is an indicator based on price action patterns associated with potential trend exhaustion, signaling when a trend may be ending or nearing a correction in its current direction.

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by armybender

Free
ThinkOrSwim Indicator
Ehler's Instantaneous Trend [LazyBear] For ThinkOrSwim
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Ehler's Instantaneous Trend [LazyBear] For ThinkOrSwim is a free moving average Indicator based on Ehler's Instantaneous Trend. This moving average is calculated based on John Ehler's earliest implementations, acting similarly to Hull Moving Average (HMA) with minimal lag.
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TradersList
Discover trading edge
Join Telegram
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Disclaimer
Our goal is to achieve greater transparency, guidance and safety in trading and investing by providing means to discover, research and discuss trading/investing related sites/services.
Content provided on this site is not financial advice, meant for educational purposes only. TradersList does not endorse or guarantee any result for listed sites/services. Do your own research.
Read full disclaimer
TradersList
Discover trading edge
Join Telegram
Disclaimer
Our goal is to achieve greater transparency, guidance and safety in trading and investing by providing means to discover, research and discuss trading/investing related sites/services.
Content provided on this site is not financial advice, meant for educational purposes only. TradersList does not endorse or guarantee any result for listed sites/services. Do your own research.
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