Thinkscript: Scoobie Signal

Scoobie Signal

In memory of Joe Grates aka Scoobie we dedicate this indicator which he developed the trading strategy for. This indicator is a combination of three indicators that when they line up correctly can indicate the bottom or top of a short-term trend. The application is for day trading, on a one minute chart to catch short term trends typically for scalping purposes. The indicator works best with the trend but can indicate reversals, especially when combined with Scoobie’s daily reversal times. The indicator will paint a red down arrow at the top of a candle indicating a sell signal, and blue up arrow at the bottom of a candle indicating a buy signal.

For use only on ThinkorSwim by TD Ameritrade.