![]() However, the volume of headlines is relatively limited and is not on par with services designed specifically for delivering stock news. The news window lists headlines in real-time and individual stories can be expanded into a new window with a simple click. The news feed within thinkorswim is, like the level 2 data, intended to be basic but helpful. It is worth noting that there is currently no access to the NYSE Open Book or Nasdaq Totalview. The level 2 data within thinkorswim is relatively basic and limited to the major exchanges and ECNs, but free – another major advantage of thinkorswim over other trading platforms that charge extra for level 2 data. These custom studies can be saved and called up to display on charts or to use in the stock scanner during future sessions. In addition, custom indicators for crossover events can be added to the charting window by checking the signal boxes and customizing the marker styles.Īn additional advantage of thinkorswim is that it is possible to define custom studies, either by modifying an existing study or by writing a set of parameters from scratch using the software’s custom programming language. in the case of moving averages) or as a separate sub-plot below the primary charting window (e.g. These studies can be added to a plot, either on top of the candlesticks (e.g. There are wider variety of technical indicators, drawings, and analyses than most traders will ever use, all of which are easy to customize thanks to the pop-up windows that allow customization of all the parameters involved in a calculation. The real power of thinkorswim comes in its ability to apply technical studies on top of the already versatile charts. ![]() It is straightforward to display multiple charts – either for different securities or different timeframes – on a single screen and keeping track of charts is made easier by the ability to color code charts in concordance with a list of securities. In addition to the standard candlestick charts, thinkorswim can plot bars, monkey bars, area charts, and equivolume charts for more advanced visualizations. One of the main screens of thinkorswim is the charting window, which allows traders to investigate individual securities using a variety of different methods. The platform allows users to place trades through TD Ameritrade, which has relatively high $6.95 per trade commissions. The thinkorswim platform is available for free to all TD Ameritrade brokerage account customers, regardless of how many trades are placed or the account balance – an incredible offer given that the tools provided in the software are considered premium by most other brokerages or are available only in paid software applications. Even better, thinkorswim allows users to place trades with TD Ameritrade directly from the platform to enable faster action in quickly moving markets. The trading platform includes many of the tools that active day traders need to operate, including real-time price data, charts and technical studies, level 2 data, stock scanners and alerts. TD Ameritrade’s thinkorswim is an advanced desktop trading platform that is, almost unbelievably, available to all TD Ameritrade customers for free. Read our review to find out everything you need to know about Thinkorswim. ![]() Thinkorswim offers many features that active day traders look for including level 2 data, stock scanners, and more. TD Ameritrade’s Thinkorswim is not only a desktop trading platform that includes numerous tools, it is also free to all TD Ameritrade customers.
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