Created by ShadowTrader Equity Strategist, Danno Sheehy, the advantages of the ST Tape Reader thinkScript are almost too numerous to list. It provides an essential edge for successful day trading in both stocks and futures contracts. In fact, we have never seen a thinkorswim study that can “read the tape”, until now.
ShadowTrader Tape Reader
Keeps running total of net action at the bid versus at the offer in real time
Gives insight into what’s happening inside of any price bar on any intraday timeframe
See the overall trend of underlying buying and selling on the day to reinforce direction and avoid “shake outs”
Definitive picture reflecting net buying and selling in real time to gain edge on entries and exits
Includes “chop indicator” to keep traders out of directionless markets