Price Above or Below VWAP Watchlist Column for ThinkorSwim

BenTen

Administrative
Staff
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I wanted to quickly know if the stock price is currently above or below VWAP (Volume Weighted Average Price). One of our developers were able to help me put together a watchlist column that shows just that. Here is what it looks like.

7P8f0QI.png


Notes:
  • Green means price is currently above VWAP
  • Red means price is currently below VWAP

thinkScript Code

Rich (BB code):
plot vwap = vwap();
AssignBackgroundColor(if close > vwap then Color.DARK_GREEN else if close < vwap then Color.DARK_RED else Color.Dark_ORANGE);

Credit:
  • WalkingBallista
 
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Likos

Member
2019 Donor
@BenTen In your opinion, how does it help determine action decision?

 
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Likos

Member
2019 Donor
@BenTen Hopefully not to sound confusing, how does that make a definite sure thing buy/sell/hold? So let's say for example it suddenly turns green, is this bullish mode? What does the orange indicate?

 
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BenTen

Administrative
Staff
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@Likos There is no orange on that specific column that was something else. Here is a good article on different ways to trade using VWAP.

 
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San

Member
2019 Donor
@BenTen

@BenTen, Can you clarify this is Script for indicator? After i created the indicator using above script i get full chart Orange color?

 
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BenTen

Administrative
Staff
VIP
@San This is not an indicator. Click Customize on your Watchlist > Custom Quotes > select one of the of the custom column and just paste the code in there.

r6qZnZr.png


 
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thinky

Member
1) What time frame are you using?

2) Can the code be edited to just show Last for indexes like SPX and NDX, instead of NaN?

Thinking about removing Last column to make some space.
 
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markos

Well-known member
VIP
@thinky nothing special at all, on my Android. It seems to start from the 2nd day on a one day 5 minute chart or on the 4th day on a 3 day 15 minute chart. I do not know why at this point.
It is a VWAP that happens to work on Android intraday only. That is the way that Mobius built it. BTW, I tried on a 10 day and one hour chart and android showed me 12 days. However, the VWAP did seem to restart every day at the open. It may be buggy, do your Due Diligence. If it doesn't work properly then don't use it.
 

markos

Well-known member
VIP
@thinky nothing special at all, on my Android. It seems to start from the 2nd day on a one day 5 minute chart or on the 4th day on a 3 day 15 minute chart. I do not know why at this point.
It is a VWAP that happens to work on Android intraday only. That is the way that Mobius built it. BTW, I tried on a 10 day and one hour chart and android showed me 12 days. However, the VWAP did seem to restart every day at the open. It may be buggy, do your Due Diligence. If it doesn't work properly then don't use it.
I found out where the bug was on android. When using the intraday VWAP on android, you must have "use extended hours" turned ON.
 

Playstation

Active member
VIP
@San This is not an indicator. Click Customize on your Watchlist > Custom Quotes > select one of the of the custom column and just paste the code in there.

Am I doing the right steps? I added this code as a study.
Then go to my watchlist>Custom Quotes. Filled in like this:
yd6YdNM.png

No colors on my watchlist though.
 

CashPrince

New member
This is pretty cool @BenTen...is it possible to make it indicate/calculate a negative or positive percentage away from the VWAP? I am studying 2% as a good number for scalps.
 

yannucci

New member
Hi Ben I'm hoping you can help, So I have a watchlist set up to color background when Close is > VWAP (5 min ) and the value is close on some but not correct. When I use the condition wizard value is correct but I can't color background.
plot vwap = vwap();
def vwapValue = reference VWAP ();
AssignBackgroundColor(if close then Color.DARK_ORANGE else Color.BLACK );

Thanks in advance for any help, AJ
 

BenTen

Administrative
Staff
VIP
@yannucci What are you trying to do that is different from what is already provided? Not sure about your question.

@ron Can you post a screenshot of it? Try it during live market.
 

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