VWAP Label with Upper/Lower Bands for ThinkorSwim

J007RMC

J007RMC

Well-known member
2019 Donor
I want to display the VWAP line and its label to show the current VWAP value on my chart. Is it possible to add VWAP as a label in ThinkorSwim?

Code: 
#HINT: The Volume-Weighted Average Price (VWAP) is calculated where size x is the volume traded at price x.
# The VWAP plot is accompanied with two bands serving as overbought and oversold levels. The Upper band (overbought level) is plotted a specified number of standard deviations above the VWAP, and the Lower band (oversold level) is plotted similarly below the VWAP. Standard deviations are based upon the difference between the price and VWAP.
input numDevDn = -2.0;
input numDevUp = 2.0;
input timeFrame = {default DAY, WEEK, MONTH};
input show_VWAP_label = yes;
input VWAP_Label_Color_Choice = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};
input show_VWAP_bands_label = no;
input Bands_Label_Color_Choice = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};

def cap = getAggregationPeriod();
def errorInAggregation =
timeFrame == timeFrame.DAY and cap >= AggregationPeriod.WEEK or
timeFrame == timeFrame.WEEK and cap >= AggregationPeriod.MONTH;
assert(!errorInAggregation, "timeFrame should be not less than current chart aggregation period");
def yyyyMmDd = getYyyyMmDd();
def periodIndx;
switch (timeFrame) {
case DAY:
periodIndx = yyyyMmDd;
case WEEK:
periodIndx = Floor((daysFromDate(first(yyyyMmDd)) + getDayOfWeek(first(yyyyMmDd))) / 7);
case MONTH:
periodIndx = roundDown(yyyyMmDd / 100, 0);
}
def isPeriodRolled = compoundValue(1, periodIndx != periodIndx[1], yes);
def volumeSum;
def volumeVwapSum;
def volumeVwap2Sum;
if (isPeriodRolled) {
volumeSum = volume;
volumeVwapSum = volume * vwap;
volumeVwap2Sum = volume * Sqr(vwap);
} else {
volumeSum = compoundValue(1, volumeSum[1] + volume, volume);
volumeVwapSum = compoundValue(1, volumeVwapSum[1] + volume * vwap, volume * vwap);
volumeVwap2Sum = compoundValue(1, volumeVwap2Sum[1] + volume * Sqr(vwap), volume * Sqr(vwap));
}
def price = volumeVwapSum / volumeSum;
def deviation = Sqrt(Max(volumeVwap2Sum / volumeSum - Sqr(price), 0));
plot VWAP = price;
VWAP.hide();
 
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I used one of the VWAP codes above and it works great. does anyone know how to add a line so it turns r/g when above or below? and also i cannot seem to get the timeframe in any minutes form with it working.

Code: 
input numDevDn = -2.0;
input numDevUp = 2.0;
input timeFrame = {default DAY, WEEK, MONTH};
input time = yes;
input time_color = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};
input VWAP_label = yes;
input VWAP_Color = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};
input Upperbands_label = Yes;
input UpperBand_Color = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};
input Lowerbands_label = Yes;
input LowerBand_color = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};

def cap = getAggregationPeriod();
def errorInAggregation =
    timeFrame == timeFrame.DAY and cap >= AggregationPeriod.WEEK or
    timeFrame == timeFrame.WEEK and cap >= AggregationPeriod.MONTH;
assert(!errorInAggregation, "timeFrame should be not less than current chart aggregation period");

def yyyyMmDd = getYyyyMmDd();
def periodIndx;
switch (timeFrame) {
case DAY:
    periodIndx = yyyyMmDd;
case WEEK:
    periodIndx = Floor((daysFromDate(first(yyyyMmDd)) + getDayOfWeek(first(yyyyMmDd))) / 7);
case MONTH:
    periodIndx = roundDown(yyyyMmDd / 100, 0);
}
def isPeriodRolled = compoundValue(1, periodIndx != periodIndx[1], yes);

def volumeSum;
def volumeVwapSum;
def volumeVwap2Sum;

if (isPeriodRolled) {
    volumeSum = volume;
    volumeVwapSum = volume * vwap;
    volumeVwap2Sum = volume * Sqr(vwap);
} else {
    volumeSum = compoundValue(1, volumeSum[1] + volume, volume);
    volumeVwapSum = compoundValue(1, volumeVwapSum[1] + volume * vwap, volume * vwap);
    volumeVwap2Sum = compoundValue(1, volumeVwap2Sum[1] + volume * Sqr(vwap), volume * Sqr(vwap));
}
def price = volumeVwapSum / volumeSum;
def deviation = Sqrt(Max(volumeVwap2Sum / volumeSum - Sqr(price), 0));

plot VWAP = price;
VWAP.hide();
plot UpperBand = price + numDevUp * deviation;
UpperBand.hide();
plot LowerBand = price + numDevDn * deviation;
LowerBand.hide();

VWAP.setDefaultColor(getColor(0));  
UpperBand.setDefaultColor(getColor(2));  
LowerBand.setDefaultColor(getColor(4));

AddLabel(time,  "Daily", GetColor(time_Color));
AddLabel(VWAP_label, " VWAP = " + Round(VWAP, 2), GetColor(VWAP_Color));
AddLabel(Upperbands_label, " VWAP UpperBand = " + round(UpperBand, 2), GetColor(UpperBand_Color));
AddLabel(Lowerbands_label, " VWAP LowerBand = " + round(LowerBand, 2), GetColor(LowerBand_Color));
 
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XeoNoX said:
@jakeyxjakey you stated:


What is r/g (i would assume red and green) and above or below what?


Add a line where and to what and above and below what?
Click to expand...
yes r/g as in red to green I apologize. and by main line I ment the middle (main) VWAP band. sorry I was pretty brief.

I just want it to turn green when it's above the middle VWAP line, and turn red if the price is below it, and green if it's above.

thank you!!
 
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@jakeyxjakey Price above Vwap turns Vwap Line Green and Price Below Vwap turns Vwap Line Red

Code: 
input numDevDn = -2.0;
input numDevUp = 2.0;
input timeFrame = {default DAY, WEEK, MONTH};
input time = yes;
input time_color = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};
input VWAP_label = yes;
input VWAP_Color = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};
input Upperbands_label = Yes;
input UpperBand_Color = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};
input Lowerbands_label = Yes;
input LowerBand_color = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};

def cap = getAggregationPeriod();
def errorInAggregation =
    timeFrame == timeFrame.DAY and cap >= AggregationPeriod.WEEK or
    timeFrame == timeFrame.WEEK and cap >= AggregationPeriod.MONTH;
assert(!errorInAggregation, "timeFrame should be not less than current chart aggregation period");

def yyyyMmDd = getYyyyMmDd();
def periodIndx;
switch (timeFrame) {
case DAY:
    periodIndx = yyyyMmDd;
case WEEK:
    periodIndx = Floor((daysFromDate(first(yyyyMmDd)) + getDayOfWeek(first(yyyyMmDd))) / 7);
case MONTH:
    periodIndx = roundDown(yyyyMmDd / 100, 0);
}
def isPeriodRolled = compoundValue(1, periodIndx != periodIndx[1], yes);

def volumeSum;
def volumeVwapSum;
def volumeVwap2Sum;

if (isPeriodRolled) {
    volumeSum = volume;
    volumeVwapSum = volume * vwap;
    volumeVwap2Sum = volume * Sqr(vwap);
} else {
    volumeSum = compoundValue(1, volumeSum[1] + volume, volume);
    volumeVwapSum = compoundValue(1, volumeVwapSum[1] + volume * vwap, volume * vwap);
    volumeVwap2Sum = compoundValue(1, volumeVwap2Sum[1] + volume * Sqr(vwap), volume * Sqr(vwap));
}
def price = volumeVwapSum / volumeSum;
def deviation = Sqrt(Max(volumeVwap2Sum / volumeSum - Sqr(price), 0));

plot VWAP = price;

plot UpperBand = price + numDevUp * deviation;
UpperBand.hide();
plot LowerBand = price + numDevDn * deviation;
LowerBand.hide();


vwap.DefineColor("UP", Color.GREEN);
vwap.DefineColor("DOWN", Color.LIGHT_RED);
vwap.AssignValueColor( if close> vwap then vwap.Color("UP") else vwap.Color("DOWN"));
UpperBand.setDefaultColor(getColor(2));
LowerBand.setDefaultColor(getColor(4));

AddLabel(time,  "Daily", GetColor(time_Color));
AddLabel(VWAP_label, " VWAP = " + Round(VWAP, 2), GetColor(VWAP_Color));
AddLabel(Upperbands_label, " VWAP UpperBand = " + round(UpperBand, 2), GetColor(UpperBand_Color));
AddLabel(Lowerbands_label, " VWAP LowerBand = " + round(LowerBand, 2), GetColor(LowerBand_Color));
 
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@XeoNoX that still doesn't change the color for the VWAP label box, just the VWAP line. I appreciate you're input.

I just want to have the VWAP label change red/green like the MA labels do.

zOCUrTd.png
 
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@jakeyxjakey You didn't say you wanted to change the label, you stated the line.

I added the code for the label to change to green if price is higher than VWAP and red if price is less than VWAP.

Code: 
input numDevDn = -2.0;
input numDevUp = 2.0;
input timeFrame = {default DAY, WEEK, MONTH};
input time = yes;
input time_color = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};
input VWAP_label = yes;
input VWAP_Color = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};
input Upperbands_label = Yes;
input UpperBand_Color = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};
input Lowerbands_label = Yes;
input LowerBand_color = {default "magenta", "green", "pink", "cyan", "orange", "red", "blue", "gray", "violet"};

def cap = getAggregationPeriod();
def errorInAggregation =
    timeFrame == timeFrame.DAY and cap >= AggregationPeriod.WEEK or
    timeFrame == timeFrame.WEEK and cap >= AggregationPeriod.MONTH;
assert(!errorInAggregation, "timeFrame should be not less than current chart aggregation period");

def yyyyMmDd = getYyyyMmDd();
def periodIndx;
switch (timeFrame) {
case DAY:
    periodIndx = yyyyMmDd;
case WEEK:
    periodIndx = Floor((daysFromDate(first(yyyyMmDd)) + getDayOfWeek(first(yyyyMmDd))) / 7);
case MONTH:
    periodIndx = roundDown(yyyyMmDd / 100, 0);
}
def isPeriodRolled = compoundValue(1, periodIndx != periodIndx[1], yes);

def volumeSum;
def volumeVwapSum;
def volumeVwap2Sum;

if (isPeriodRolled) {
    volumeSum = volume;
    volumeVwapSum = volume * vwap;
    volumeVwap2Sum = volume * Sqr(vwap);
} else {
    volumeSum = compoundValue(1, volumeSum[1] + volume, volume);
    volumeVwapSum = compoundValue(1, volumeVwapSum[1] + volume * vwap, volume * vwap);
    volumeVwap2Sum = compoundValue(1, volumeVwap2Sum[1] + volume * Sqr(vwap), volume * Sqr(vwap));
}
def price = volumeVwapSum / volumeSum;
def deviation = Sqrt(Max(volumeVwap2Sum / volumeSum - Sqr(price), 0));

plot VWAP = price;

plot UpperBand = price + numDevUp * deviation;
UpperBand.hide();
plot LowerBand = price + numDevDn * deviation;
LowerBand.hide();


vwap.DefineColor("UP", Color.GREEN);
vwap.DefineColor("DOWN", Color.LIGHT_RED);
vwap.AssignValueColor( if close> vwap then vwap.Color("UP") else vwap.Color("DOWN"));
UpperBand.setDefaultColor(getColor(2));
LowerBand.setDefaultColor(getColor(4));


AddLabel(VWAP_label, " VWAP = " + Round(VWAP, 2), if vwap<close then color.green else color.red);
AddLabel(Upperbands_label, " VWAP UpperBand = " + round(UpperBand, 2), GetColor(UpperBand_Color));
AddLabel(Lowerbands_label, " VWAP LowerBand = " + round(LowerBand, 2), GetColor(LowerBand_Color));
 
Last edited:
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@XeoNoX, awesome work, Man. One thing I noticed in the code is that the time doesn't switch to the right setting when flipped. For instance, if I set it for "Weekly," while the line adjusts accordingly, the label still displays "Daily," as opposed to "Weekly," or "Monthly," setting. Can it be fixe?

Thank you!
 
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CashPrince said:
@XeoNoX, awesome work, Man. One thing I noticed in the code is that the time doesn't switch to the right setting when flipped. For instance, if I set it for "Weekly," while the line adjusts accordingly, the label still displays "Daily," as opposed to "Weekly," or "Monthly," setting. Can it be fixe?

Thank you!
Click to expand...

someone added that, i fixed it, it wasnt dynamically set. just delete
" AddLabel(time, "Daily", GetColor(time_Color)); "
 
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Hey dude, is there anyway you can have the previous close label turn red/green as well?

Here's the current script for it.

Code: 
declare hide_on_daily;

def PrevClose = close(period = AggregationPeriod.Day)[1];

plot level1 = PrevClose * 1.9;
plot level2 = PrevClose * 2.2;
plot level3 = PrevClose * 2.8;
plot level4 = PrevClose * 3.4;
plot level5 = PrevClose * 4.6;   

level1.SetDefaultColor(Color.Yellow);
level2.SetDefaultColor(Color.Yellow);
level3.SetDefaultColor(Color.Yellow);
level4.SetDefaultColor(Color.Yellow);
level5.SetDefaultColor(Color.Yellow);

AddLabel(1, "PrevClose: " + PrevClose, Color.gray);


# End Levels Based on Previous Daily Close

GoldStriple said:
@Jakey - LFG! haha nice!
Click to expand...
haha I love it. this guy from the Discord im in Atlas made it, his name is Dark Elvis. feel free to add me if you're interested in the indicator or just talking stocks! slim trady#5764
 
Last edited by a moderator:
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XeoNoX said:
@jakeyxjakey

Code: 
AddLabel(1, "PrevClose: " + PrevClose,  if vwap<close then color.green else color.red);
Click to expand...
I was looking to have it green if the current price is above yesterdays previous close, and red if it's below the previous day close's price. not the VWAP. I couldn't find a way to get it in the script properly. I really appreciate your help!

I basically want it to be a red/green indicator for the day (prev day close price)

thanks again m8!
 
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I was also trying to make these %gain labels turn green when the price is above them. they're 90% 120% 180% and so on (fib levels). I almoooost have the labels so they turn red/green accordingly. I hope you can see what I'm goin for. so far the VWAP and EMA labels change red/green properly now thanks to you. Just need the prev close then the fib %. here is the script for the fib level labels

unknown.png


Code: 
declare hide_on_daily;

def PrevClose = close(period = AggregationPeriod.Day)[1];

plot level1 = PrevClose * 1.9;
plot level2 = PrevClose * 2.2;
plot level3 = PrevClose * 2.8;
plot level4 = PrevClose * 3.4;
plot level5 = PrevClose * 4.6;    




AddLabel(1, "90% = " + Round(level1,2), Color.White);
AddLabel(1, "120% = " + Round(level2,2), Color.White);
AddLabel(1, "180% = " + Round(level3,2), Color.White);
AddLabel(1, "240% = " + Round(level4,2), Color.White);
AddLabel(1, "360% = " + Round(level5,2), Color.White);

# End Levels Based on Previous Daily Close

thank you so much again dude you have nooo idea
 
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You stated "yesterdays previous close" so you want the close from 2 days ago? I assume you meant the prior days close, here you go.

Previous Day Close Label with red/green color

Code: 
def PriorDayClose = if GetDay() == GetLastDay() then PriorDayClose[1] else close;
AddLabel(1, "PriorDayClose : " + PriorDayClose ,  if PriorDayClose <close then color.green else color.red);
 
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@XeoNoX I just wanted to thank you again dude. it looks great and functions even better. I appreciate you taking your time. I believe heavily in karma and helping people when I can, so I like to think it gets paid back to me as well.

If you're Disc or Twitter add me we can talk about some Finance ****. slim trady#5764. Have a great weekend dude!

unknown.png
 
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jakeyxjakey said:
@XeoNoX prior day close ahhh. still don't think I would have gotten the getday last day part. I greatly appreciate it brotha!
Click to expand...
hey dude, I have these labels that indicate different fibonacci price levels. do you think you could implement a way so they once that price is hit, they turn yellow?

loook how good the rest of the labels look. thank you so much dude you have no idea


""



declare hide_on_daily;

def PrevClose = close(period = AggregationPeriod.Day)[1];

plot level1 = PrevClose * 1.9;
plot level2 = PrevClose * 2.2;
plot level3 = PrevClose * 2.8;
plot level4 = PrevClose * 3.4;
plot level5 = PrevClose * 4.6;




AddLabel(1, "90% = " + Round(level1,2), Color.White);
AddLabel(1, "120% = " + Round(level2,2), Color.White);
AddLabel(1, "180% = " + Round(level3,2), Color.White);
AddLabel(1, "240% = " + Round(level4,2), Color.White);
AddLabel(1, "360% = " + Round(level5,2), Color.White);

# End Levels Based on Previous Daily Close

""
 
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