Ben_Don't Trade for ThinkorSwim

Disclaimer: None of this is to be construed as investment advice. Any trades made are your own, and using your own due diligence.

By now, everyone knows the hit song "Cross Purposes on the Daily will Kick you in the Dinky". Thankfully, I've created an indicator that tells you in bright colors, where the Daily is at, no matter what chart timeframe you're looking at!

The Do Not Trade indicator examines both the Wilders MACD and the EXP MACD and determines whether or not it is safe to trade. The indicator will provide one of 5 statuses:

1. Do Not Trade - this means the Daily EXP and Wilders MACD is at cross purposes and one should not trade or expect the day to be very ranged.
2. Getting Close to Bullish Trade - Both Daily Wilders and EXP MACD are pointing upwards, or trending in that direction. Time to keep an eye here as the Daily conditions are almost ready.
3. Getting Close to Bearish Trade - Both Daily Wilders and EXP MACD are pointing downward, or trending in that direction, signaling an upcoming bearish trade. Time to keep an eye here as the Daily conditions are almost ready.
4. Good to Bullish Trade - Both Daily Wilders and EXP MACD are pointing downward. You're good to enter
5. Good to Bearish Trade - Both Daily Wilders and EXP MACD are pointing downward. You're good to enter


The indicator examines the Daily EXP and Wilders MACDs to generate a banner message telling the user that the Daily is in their favor, or if, it may be time to wait a bit. The idea, is that a Daily Wilders EXP and MACD going in the same direction is a safe entry. When that starts to breakdown, that's the cue to close the trade.

Additionally, the same indicator for the 4H chart has been added. Same status structure as above.