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Raghee Horner VWAP Max Tool Indicator for ThinkorSwim

ljones

New member
I'm curious to know how Simpler Trading came up with their VWAP Max Tool Package indicator for ThinkorSwim. How does TOS calculate the VWAP line? It looks like they are starting each day from the open rather than summing from the beginning of the chart's period. Is this a correct interpretation? I am interested in VWAP on the daily chart. I find the Anchored VWAP is lining up with hand calculations but deviating big time from the TOS VWAP.

Quick Update!!!!

DO NOT buy the VWAP Max Tool from Simpler Trading or Raghee Horner. It's the same as one of the Anchored VWAP indicator that Ben posted in this thread.

Additionally, you can even use the script below.

Code:
# n Bars VWAP
# Nube 6.24.19
#

input length = 20;
input price  = vwap;

def p = if IsNaN(price) then p[1] else price;
def v = if IsNaN(volume) then v[1] else volume;

plot VWAP = if IsNaN(price) then Double.NaN else
             Sum(p * v, length) / Sum(v, length);
 
Last edited:

BenTen

Administrative
Staff
VIP
@ljones That's correct. VWAP will start fresh at the beginning of each day. You can find more info about it here. The Anchored VWAP indicator will allow you to use it on different timeframes.
 
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Slip

New member
Are you aware of a vwap for TOS that works on a range bar chart? The standard vwap seems to work only on minute charts. Thanks!

 
Last edited:

BenTen

Administrative
Staff
VIP
@Slip VWAP doesn't seem to support Range Bars at the moment. I just tested out on ThinkorSwim and it's not working for me either.
 
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adii800

Member
Are you aware of a vwap for TOS that works on a range bar chart? The standard vwap seems to work only on minute charts. Thanks!
Yup, I've seen demand for such an indicator, and tweaked the built-in VWAP indicator to function on range charts. I'll probably post a thread about it tonight :)
 

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