The Sniper Trend Indicator ThinkorSwim TOS Script

nThe Automatic Trend Line indicator is a great tool for identifying medium to long-term trends based on pivot points. But, what if you have a need to know what the more immediate trend is? What if you are a sniper trader who is looking to take a quick shot and make a killing in the market? Then you need the right tool for the job. You need the Sniper Trend.nnThis indicator works on any time frame, with any instrument, and is configurable to meet the user’s needs. It is, ideally, suited for intra-day traders.nnBoth the length and offset are configurable from within the settings panel.nn-Length determines how many candles are used to calculate the trend line.nn-Offset pushes the trend back. See the image below for a demonstration.nnnnWith an offset of 0, the current candle is used in determining the trend. This means that as the current price changes, the trend may change as well. If one is looking for a trend break-out, it will be beneficial to set the offset to a value of 1 or higher.nnIn addition to adjusting length and offset values, the user may choose to draw the trend lines from either the candle wicks or bodies.nnnnThe numbers above the candles indicate which bars are being used for trend determination. They may be turned off from within the settings panel, if desired.nn