FreeIndicators·ThinkorSwim
Daily Trend
Daily 50/200 painted on any intraday chart, with an up, down, or mixed read.
How to install in ThinkorSwim
- In ThinkorSwim, open a chart, then go to Studies → Edit Studies.
- Click Create, clear the editor, and paste the code.
- Name it, click Apply, then OK, and it draws on your chart.
How to Use — WTP_DailyTrend
Don't sell puts into a daily downtrend you can't see on the 1h. Educational, not advice.
What it is (one line)
The daily 50/200 SMA painted onto any intraday chart (via secondary aggregation), with a trend-bias label and a regime cloud — so the higher- timeframe trend is always in view while you're zoomed in.
Who it's for & best timeframe
| Trader type | How you use it | Chart timeframe |
|---|---|---|
| Premium seller (CSP) | Only sell puts when daily bias is UP/MIXED, not DOWN | any ≤ daily |
| Day trader | Trade with the daily regime, not against it | 1m – 1h |
| Swing trader | Confirm the 50>200 "golden" regime before entries | 1h – daily |
What you see (overlay)
- Orange line — daily 50 SMA. Light-red line — daily 200 SMA.
- Cloud — green when 50>200 (bullish regime), red when 50<200 (bearish).
- Label:
Daily trend: UP / DOWN / MIXED. - UP = 50>200 and price > 50. DOWN = 50<200 and price < 50. MIXED = anything between.
How to use it
- Keep it on your intraday chart as a regime guardrail.
- UP → sell puts / buy pullbacks with confidence.
- DOWN → stand down on CSPs; a falling knife blows through your strike.
- MIXED → smaller size, tighter strikes.
Settings
fast_length(50) /slow_length(200) — the daily MAs.agg(Day) — the higher-timeframe source.
Important limitation
Chart timeframe must be ≤ daily (works 1m…1D). It errors on weekly+ because you can't pull a daily aggregation onto a higher timeframe.
Common mistakes
- Selling puts on a name flashing DOWN.
- Putting it on a weekly chart (it will error).
Video script outline
- Hook: "You're zoomed into the 1h — but is the daily falling apart?"
- Show the daily 50/200 + cloud on an intraday chart.
- UP = go, DOWN = stand down, MIXED = careful.
- Caveat: daily and below only.
- Recap + import link.
Educational analysis, not financial advice.
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