Thinkorswim Thinkscript MTF Volume & Price Spike Indicator, 2 HTF Confirmation For Sale

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Multi-Timeframe (MTF) Volume Spike + Green Candle ATR Spike (Confluence) withTWO Higher Timeframe (HTF) confirmation options(you choose in the settings)— Custom Thinkorswim Indicator on USB Flash Drive

Designed for momentum day traders who want ONE clear signal when BOTH timeframes agree. This Thinkorswim study prints a bold WHITE UP arrow only when volume AND price action show a true “spike” candle on your Lower Timeframe (LTF) and your selected Higher Timeframe (HTF).

NEW in this version: Unlike our other custom study that uses one fixed HTF confirmation method, this indicator gives you TWO HTF confirmation options to choose from:

• HTF Mode = Live (Real-Time HTF): Uses the currently forming HTF candle. HTF values update in real time, so signals can appear/update while that HTF candle is still building.
• HTF Mode = Closed (Confirmed HTF): Uses the last completed HTF candle for stable confirmation. This reduces intrabar changes because the HTF candle is already final.

If you’ve ever felt like volume spikes alone are noisy, or big candles alone are traps… this is a confluence-based filter that demands both.

✅ Multi-Timeframe Confluence: confirms strength across timeframes
✅ One Arrow Only (No Clutter): no “almost signals,” no confusion
✅ Customizable Inputs: volume strictness, ATR strictness, optional body-strength requirement
✅ HTF Confirmation Mode Toggle: choose how HTF is evaluated (see below)
✅ Optional Alert Toggle: can trigger an alert when conditions are met (chart use)

This version includes a HTF Confirmation Mode toggle so traders can choose how they want HTF confirmation handled:

This is a signal/filter tool — not an auto-trading strategy — and it does not provide entries/exits or profit guarantees.Just like all technical indicators, It’s not a magic wand and it won’t be right 100% of the time, but it’s designed to pull your attention to multi-timeframe confluence spikes—so you can then apply your own entry, exit, and risk rules on top.

✅ Multi-Timeframe Volume + ATR Spike Indicator built specifically for the thinkorswim® desktop platform

✅ Plots ONE large white arrow only when both are true:

• Lower timeframe (LTF): Volume Spike + Green Price ATR Spike candle

• Higher timeframe (HTF): Volume Spike + Green Price ATR Spike candle

✅ Fully adjustable inputs, including:

• LTF timeframe (e.g., 1-minute, 3-minute, etc.)

• HTF timeframe (e.g., 5-minute, 10-minute, 15-minute, etc.)...RECOMMENDED to keep the signals clean and predictable: set the HTF as a multiple of LTF:

Examples that behave nicely:

• Volume lookback length (volLength)

• Volume spike multiple (volMultiple – how many × average volume)

• ATR length (atrLength)

• ATR spike multiple (atrMult – how many × ATR the candle’s range must be)

• Optional body-strength filter (requireBodyOK, minBodyRatio) to require a strong real body vs. tiny wicks

• Arrow offset in ticks so you can position the arrow cleanly under the candle

✅ Designed for long-side traders looking for:

• Strong green “ignition” candles

• Confirmed by both price expansion (ATR spike) and volume expansion (Volume Spike)

• On two timeframes at once

✅ Works on:

• Intraday timeframes (1-min, 3-min, 5-min, etc.)

• Higher timeframes as long as there is sufficient data for volume and ATR

✅ Delivered on a USB flash drive containing:

• Full thinkScript code for the MTF Volume Spike + Price ATR Spike Indicator

• A Read-Me / Overview explaining what the indicator looks for and what the signals mean

• A “How I Use It” example file describing one possible way to integrate it into a long-side trading process

• Basic installation steps (how to paste the code into thinkorswim and add it to your chart)

✅ Clean, well-commented code so you can tweak and customize it further if you’re comfortable with thinkScript

✅ Intended as a signal/filter, not a black-box system – you remain in full control of entries, exits, position sizing, and risk

How to use it:
Apply this study to your lower timeframe chart (for example, a 1-minute chart).
In the inputs, set:

• LTF to match your chart timeframe (e.g., 1-minute), and

• HTF to a higher timeframe (e.g., 5-minute).

The indicator will then plot a big white arrow on your lower timeframe chart only when both the lower and higher timeframe show a Volume Spike + Green Price ATR Spike at the same time.

Signal Behavior / Non-Repainting Notes:

When using Live HTF Candle confirmation mode, this indicator will use real-time candle data. While a candle is still forming, its high/low/close/volume can change until the candle closes. Because this mode requires confirmation from a higher timeframe (HTF), HTF conditions are not final until the HTF candle closes—so signals on your LTF chart may appear or update during the formation of that HTF candle. For the most consistent confirmation, evaluate signals once the HTF candle closes.

This tool is designed for time-based charts. It may run on other chart types, but behavior/results can differ due to how those charts build bars. Best practice is to set your LTF to match your current chart timeframe and set your HTF to a higher timeframe (example combinations: 1m + 5m, 5m + 15m).

There is no single “magic setting” that works perfectly on every ticker or timeframe. Always use proper risk management and backtest thoroughly to ensure it fits your strategy. Educational use only. Not financial advice. No guarantee of results.

• You will be receiving aUSB-A flash drive with this purchase. USB-A flash drive works in USB 3.0 and USB 2.0 ports (backward compatible). If your computer only has USB-C ports, you may need a USB-C to USB-A adapter (not included).

• You must already have an an active Charles Schwab account with access to thinkorswim Desktop platform.

• This indicator is for the thinkorswim desktop platform only (not mobile, not other brokers/platforms).

• Buyers should already be reasonably familiar with thinkorswim, including how to:

• Open Edit Studies

• Create a new custom study

• Copy/paste code into the thinkScript editor

• Adjust study inputs/settings on a chart

Parameter Adjustment & Testing

• The indicator is fully adjustable, and performance depends heavily on:

  • The symbols you trade (low-float stocks, crypto miners, leveraged ETFs, etc.)

  • The timeframes you use

  • Current market conditions and volatility

• There is no single “magic setting” that works perfectly on every ticker and every timeframe.

• ALWAYS, ALWAYS, ALWAYSuse risk management!It is strongly recommended that you trade with a clearly defined risk level on every position (such as a stop loss or max dollar loss per trade). Never risk money you cannot afford to lose.

• For best results, you should:

  • Experiment with different volume and ATR settings

  • Back-test or paper trade the indicator with your own strategy

  • Re-tune inputs as markets change

Important Disclaimer

• This indicator is designed for long-side trading, but it will not work 100% of the time.

• Like any technical indicator, it can and will produce false signals, losing trades, and whipsaws.

• There are no guarantees of profit, accuracy, or performance. Past performance is not indicative of future results.

• This product is provided for educational and informational purposes only and does not constitute financial, investment, or trading advice.

• You are solely responsible for your own trading decisions, parameter choices, position sizing, and risk management. Trading involves substantial risk and can result in loss of capital.

thinkorswim® and any broker names mentioned are trademarks of their respective owners. This product is not affiliated with, endorsed by, or sponsored by Schwab, TD Ameritrade, or any broker.

The seller/creator cannot and does not accept any responsibility for trading losses or damages of any kind that may result from its use. You are fully responsible for your own trades and risk.You are solely responsible for your own trading decisions, position sizing, and risk management. It is strongly recommended that you always trade with a clearly defined risk level (such as a stop loss or maximum loss per trade). The seller/creator cannot be held responsible for any trading losses or damages that may occur from the use of this indicator.