A thinkorswim alternative that trades your strategy for you
thinkorswim is free with a Schwab account and excellent for charting, options analysis and thinkScript indicators and alerts. thinkScript is not designed to run a strategy that manages its own entries, exits and sizing, and Schwab API access needs re-authenticating every 7 days. AlgoBars runs complete automated strategies 24/7 on its servers, imports thinkScript for free, and adds unlimited backtesting, walk-forward analysis and risk guards.
Last updated
Compared
Competitor figures from its own site and 2026 reviews, checked September 2026.
| thinkorswim | AlgoBars | |
|---|---|---|
| Price | Free with a Schwab account | Free |
| Full strategy automation | Not built for it; mostly alerts and conditional orders | Yes, 24/7 on AlgoBars servers |
| Scripting | thinkScript (indicators, alerts) | AlgoBarsX, plus free thinkScript import |
| Backtesting | Available | Unlimited, no look-ahead, walk-forward |
| Markets | US-focused brokerage account | Forex, crypto, stocks, indices, metals via 200+ brokers |
Good to know
thinkorswim remains a strong choice for options-focused Schwab clients. AlgoBars fits traders who want their rules executed automatically.
Next steps
Frequently asked questions
Can thinkorswim fully automate a strategy?
thinkScript is built for indicators and alerts rather than fully autonomous strategies.
Can I bring my thinkScript to AlgoBars?
Yes, thinkScript import is free.
Does AlgoBars support options?
Options are available as a custom solution by inquiry.
More answers
Sources
Competitor prices and features change. They are shown as published when checked. Trading involves risk of loss.