Setting Up Effective Thinkorswim Alert Settings

Setting up effective thinkorswim alert settings is crucial for staying on top of market movements and making informed trading decisions. thinkorswim offers a variety of alert types, including price alerts, technical indicator alerts, and news alerts.

To get started, you can create a custom alert by selecting the type of alert you want, such as a price alert or a technical indicator alert. For example, you can set a price alert to notify you when a stock reaches a specific price threshold.

thinkorswim allows you to choose from a range of technical indicators, including moving averages, relative strength index (RSI), and Bollinger Bands. By setting alerts based on these indicators, you can stay ahead of market trends and make timely trading decisions.

The key to effective alert settings is to keep them simple and focused on your specific trading goals. Avoid setting too many alerts, as this can lead to information overload and decreased productivity.

To create an alert in thinkorswim, start by right-clicking on your chart and navigating to "Create alert." This will populate the alert window with options for setting the alert.

You can change the symbol and spread, and adjust the price settings to get more specific with what you want to happen before you get alerted. Depending on where your cursor is on the chart when you right-click, that will be the price that populates in the price window.

You can customize the sound and push notifications for your alert by scrolling down in the alert window. You can even upload custom sounds, giving you the ability to distinguish between different types of alerts.

Make sure to save your custom sound file to a location on your hard drive that is both easy to find and permanent, as thinkorswim will no longer be able to find it if you move the file after adding it to the platform.

To create an alert, right-click on your chart and navigate down to where it says "Create alert." This will populate the alert window for you.

You can change the symbol and spread, and adjust the price settings to get more specific with what you want to happen before you get alerted. Depending on where your cursor is on the chart when you right-click, that will be the price that populates in the price window.

You can adjust the sound and kind of push notifications you'll be getting for the alert. You even have the option to upload custom sounds! Once you have all of your criteria set for your alert, click "Create" and you're good to go.

To view all your active alerts, navigate your way over to the "MarketWatch" tab at the top left of your screen. This will provide you with information on all the alerts you have set.

To decide what you want to be alerted about, you'll need to determine what specific events or conditions trigger your interest. This can be as simple as a price crossing a certain level or as complex as a moving average crossover.

You might want to alert yourself when the price crosses above or below a certain level, such as the 9 EMA line, as described in one example. This can give you a clear indication of when to take action.

For fast-moving markets, scalping, and day trading, LAST price alerts are ideal. They ensure you catch every significant price movement quickly.

In highly liquid markets with frequent trading activity, using LAST ensures you catch every significant price movement quickly. This can be especially useful for short-term strategies that rely on timely entry and exit decisions.

Here are some scenarios where LAST is preferred:

Customizing Alert Options can make a big difference in how you use thinkorswim. You can change the symbol and spread, and adjust the price settings to get more specific with what you want to happen before you get alerted.

You can also adjust the sound and push notifications to personalize your experience with the alert. For example, you can upload custom sounds to make your alerts more distinctive.

To save custom sounds, you'll need to download them to your computer and save them to a location that's both easy to find and permanent. This way, you can apply the custom sound to your thinkorswim platform and use it for all your alerts.

Here are the key settings to consider when creating a custom alert:

Editing the condition of your alert is a crucial step in getting Thinkorswim to alert you exactly when you want.

You can run through each section above to select your desired settings. Thinkorswim can be particular about its instructions, so make sure you're precise.

In my case, I included an alert offset of 1, which isn't typical. This is because Thinkorswim alerts at each cross of the moving average line rather than when price closes above it.

Don't be afraid to experiment with different settings to find what works best for you.

To create a recurring alert on Thinkorswim, you'll want to navigate to the options setting and select "Create Regular Alert". This will instruct Thinkorswim to keep the alert active and send the notification every time price crosses above the 9 EMA.

The "Create Regular Alert" option allows you to set up a recurring alert that will notify you every time a specific condition is met. You can choose to receive notifications at a specific interval, such as every time price crosses above the 9 EMA.

You can also adjust the sound and push notification settings for your alert to personalize your experience. Thinkorswim even allows you to upload custom sounds, giving you complete control over how you receive notifications.

To access the alert options, simply right-click on your chart and navigate down to where it says "Create alert". From there, you can adjust the symbol, spread, and price settings to get more specific with what you want to happen before you get alerted.

Thinkorswim allows you to upload custom sounds, giving you a wide range of options. You can find sounds online or use sites that generate specific audio alerts. Make sure to download the sound file to your computer.

To apply the custom sound, go back and follow the steps to add it to Thinkorswim. It's essential to save the sound file to a location on your hard drive that is both easy to find and permanent. If you move the file after adding it to TOS, the application will no longer be able to find it.

You can save your files to the Thinkorswim folder itself, making it easy to access and manage your custom sounds. This way, you can keep your sounds organized and easily accessible for future use.

In fast-moving markets, LAST price alerts are ideal for catching every significant price movement quickly.

LAST price alerts are preferred in highly liquid markets with frequent trading activity, making them essential for scalping and day trading.

For short-term strategies, the speed of LAST alerts is crucial for timely entry and exit decisions.

In highly volatile markets, LAST price alerts can be triggered by fleeting trades, leading to false signals.

MARK price alerts provide a smoother, more stable trigger point, making them better suited for specific trading situations.

In markets with less frequent trading, MARK offers a more consistent and representative price level for triggering alerts.

For swing trading and longer-term strategies, the slightly delayed notification of MARK is less crucial, and its greater stability prevents premature alert triggers.

In illiquid markets, MARK's reliance on bid/ask averages reduces the chance of alerts triggered by outliers or temporary price spikes that might not reflect the underlying trend.

Here's a comparison of LAST and MARK price alerts:

You can set price alerts in Thinkorswim to get notified when a stock reaches or falls to a specific price, allowing you to look at the chart and make sure the setup is still valid.

To create an alert, right-click on your chart, navigate down to where it says "Create alert", and populate the alert window with your desired settings.

You can adjust the symbol and spread, and personalize your experience with the alert by setting the sound and push notifications.

To decide what you want Thinkorswim to alert you to, consider what specific conditions you're looking for, such as a moving average crossover or price crossing below a certain level.

Here's a quick rundown of the most common price types for setting alerts in Thinkorswim:

Understanding Price Types is crucial when setting up alerts in Thinkorswim. Alerts based on the LAST price are triggered immediately upon a trade occurring at or beyond your specified level.

LAST refers to the most recently traded price of the instrument, which is the price you see displayed on your chart in real-time. This price type is straightforward and easy to understand.

MARK, on the other hand, is a more complex price that represents the midpoint between the current bid and ask prices. Alerts triggered by MARK prices are less prone to "false positives" caused by fleeting, non-representative trades, especially in illiquid markets.

To help you choose between LAST and MARK, here's a quick comparison:

By understanding the differences between LAST and MARK, you can set up alerts that are tailored to your specific trading needs and preferences.

MARK price alerts are particularly useful in illiquid markets, where LAST prices can fluctuate wildly due to less frequent trading. This makes MARK a more consistent and representative price level for triggering alerts.

In swing trading and longer-term strategies, the slightly delayed notification of MARK is less crucial, allowing it to prevent premature alert triggers due to noisy price action.

MARK's reliance on bid/ask averages also reduces the chance of alerts triggered by outliers or temporary price spikes that might not reflect the underlying trend.

Here are some specific situations where MARK price alerts shine:

To create a custom alert for a 9 EMA crossover on a 1 hour chart, you'll need to decide what you're looking for, such as a moving average crossover or price crossing below a certain level. The author of this article has narrowed it down to an exponential moving average crossover.

To set up this alert, you'll need to enter the Thinkscript code on the create alert screen under the Price dropdown menu by selecting study, edit, and clicking the Thinkscript editor tab at the top of the study alerts page.

The code for a cross above the 9 EMA on a 1 hour chart is available in the article, and you can enter it into the Thinkscript editor to set up the alert.

For a cross below the 9 EMA, the code is slightly different and also available in the article.

To add an extra layer of confirmation, the author likes to see the price close above or below the 9 EMA line before placing a trade.

In fast-moving markets, LAST price alerts are a must-have to catch every significant price movement quickly. This is because such markets have frequent trading activity, making speed a top priority.

LAST price alerts are particularly useful for scalping and day trading strategies, where timely entry and exit decisions are crucial.

For traders who focus on price breakouts, LAST alerts provide immediate notification of price movements as they happen, helping to capitalize on these opportunities.

To maximize the effectiveness of LAST price alerts, consider the following scenarios:

Thinkorswim alert settings can be a game-changer for traders of all levels, helping you stay on top of market movements and make informed decisions.

By setting up custom alerts, you can receive notifications for price movements, order fills, and other key events, keeping you informed without having to constantly monitor the markets.

Customizable alert settings allow you to tailor notifications to your specific trading needs, whether you're a day trader or a long-term investor.

Thinkorswim's alert settings can be linked to various market data, including stocks, options, futures, and forex, giving you a comprehensive view of the markets.

By using thinkorswim's advanced alert features, you can create complex rules and conditions to trigger alerts, such as when a stock price breaks a certain level or when a specific indicator reaches a certain threshold.

Thinkorswim's alert settings can be accessed through the platform's desktop or mobile app, making it easy to stay connected to the markets on the go.

By setting up thinkorswim alert settings, you can save time and reduce stress, freeing up more time to focus on your trading strategy and make more informed decisions.