TMO-VWAP w/ Bands Study

zeek

Active member
2019 Donor
Can someone help me add an additional condition for the buy & sell signals code below?
I would like the buy signal only to trigger if price is at or above 1.0 standard VWAP deviation and vice versa, only trigger sell signal if price is at or below 1.0 standard VWAP deviation.

Code:
def BUYsignal =Main < OS and Main crosses above Signal;
def SELLsignal = Main > OB and Main crosses below Signal;
addverticalline(BUYsignal,"Buy",color.green,curve.firm);
addverticalline(SELLsignal,"Sell",color.red,curve.firm);

TMO code:
Ruby:
# TMO ((T)rue (M)omentum (O)scilator)
# Mobius
# V01.05.2018
# hint: TMO calculates momentum using the delta of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

declare Lower;

input length = 14;
input calcLength = 5;
input smoothLength = 3;

def o = open;
def c = close;
def data = fold i = 0 to length
           with s
           do s + (if c > getValue(o, i)
                   then 1
                   else if c < getValue(o, i)
                        then - 1
                        else 0);
def EMA5 = ExpAverage(data, calcLength);
plot Main = ExpAverage(EMA5, smoothLength);
plot Signal = ExpAverage(Main, smoothLength);
     Main.AssignValueColor(if Main > Signal
                           then color.green
                           else color.red);
     Signal.AssignValueColor(if Main > Signal
                             then color.green
                             else color.red);
     Signal.HideBubble();
     Signal.HideTitle();
addCloud(Main, Signal, color.green, color.red);
plot zero = if isNaN(c) then double.nan else 0;
     zero.SetDefaultColor(Color.gray);
     zero.hideBubble();
     zero.hideTitle();
plot ob = if isNaN(c) then double.nan else round(length * .7);
     ob.SetDefaultColor(Color.gray);
     ob.HideBubble();
     ob.HideTitle();
plot os = if isNaN(c) then double.nan else -round(length * .7);
     os.SetDefaultColor(Color.gray);
     os.HideBubble();
     os.HideTitle();
addCloud(ob, length, color.light_red, color.light_red, no);
addCloud(-length, os, color.light_green, color.light_green);
# End Code TMO
 
Last edited by a moderator:
@zeek There currently is no TMO-VWAP w/bands study on the forum.
A workaround would be to scan for the TMO signals and VWAP triggers w/ the Scan Hacker.
 
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