Ultimate VWAP Indicator for ThinkorSwim

Welkin

Welkin

Active member
VIP
@fluentd It appears correct, though it looks like you've disabled the 3rd and 4th deviation plot lines. Also feel free to disable the squeeze clouds or crossover clouds if they get in your way, but before you do I recommend looking at chart history to see if you think they could provide you with an edge first. you can adjust the color schemes as well if it is hard to see in contrast with your white background.
 
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ext99k

Member
Can I ask how someone would interpret the vwap cross over clouds? thanks!
 
Welkin

Welkin

Active member
VIP
Can I ask how someone would interpret the vwap cross over clouds? thanks!
I like to consider these areas as overbought/oversold zones of interest where supply/demand dries up and sometimes you can even capture a liquidation break away from these zones, usually towards the weekly/monthly vwap I've found. This isn't 100%, use your own judgement, this is just something I've noticed after looking at a lot of charts and how price reacts to these zones
This is the primary setup that I look for when price breaks out of the crossover clouds. When price moves out of the clouds and retests I go short or long (depending on if its the upper or lower cloud).
another thing to keep in mind is the beginning of a new month, since the monthly vwap resets at the start of a new month this can make the crossover clouds a little wonky.















figured I'd also include this screenshot which shows a bigger picture view of daily, weekly, and monthly vwaps with 2 std deviation bands, so you have a better image of what is going on when you see these clouds form.... in this image the orange clouds are daily x weekly and red clouds are weekly x monthly

hope this provides better insight and gives you some ideas
 
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profitmaya

New member
Is there any writeup or video about how to make use of this for going intraday/swing trading? Appreciate your help. I can see lots of good pointers but not able to digest when to long or short a stock using this.
 
Welkin

Welkin

Active member
VIP
Is there any writeup or video about how to make use of this for going intraday/swing trading? Appreciate your help. I can see lots of good pointers but not able to digest when to long or short a stock using this.
I recommend reading or watching videos on 'standard deviations in trading' or 'VWAP standard deviations'. Understand the probability and statistics of standard deviations. Thats all this is, those crossover clouds are simply 2 standard deviations on either the daily crossing weekly, or weekly crossing monthly. The cloud itself is just a visual aid for when price is on the fringe of these higher time frame VWAP 2 standard deviation zones.
If you're interested in swing trading, I'd focus on the monthly VWAP and weekly x monthly crossover zones. Check chart history and see how price behaves on a ticker when price is active in these areas.
For determining an absolute entry this would be used in combination with your other indicators, be it heiken ashi, macd, cci, rsi, cmf, laguerre, dmi, tmo, etc... really whichever indicators you're most comfortable with.
 
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ext99k

Member
http://tos.mx/KaTHRrL
pieced together a mobile friendly version. can only do the deviation bands and current aggregation squeeze, multiple aggregations don't work on mobile. if you want weekly vwap on top of it just add regular VWAP and set it to weekly.
Thank you! is this different code than the updated code you posted which included the alerts?
 
Welkin

Welkin

Active member
VIP
Thank you! is this different code than the updated code you posted which included the alerts?
yes it is different. I edited the code to a bare min, will see if can get alerts working for you.
 
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CaliUrsa

New member
added code for alerts, but not sure if they will work. try it out:
http://tos.mx/yQq3PFm
@Welkin Hey I'm a new trader and just finding out your posts and all the work and help you've done, looks amazing!
My only problem as a new trader its a little confusing watching the different videos that are posted to help supplement what you're adding on to.

Do you have or may you create a tutorial video for your indicators and how to set them up. I've watched multiple videos posted along side your scripts but still I'm very lost as a new trader.

May you demonstrate what it is you do and how you do it. So newbies like I would be able to benefit from a dummy proof way of learning.
 
Welkin

Welkin

Active member
VIP
@Welkin Hey I'm a new trader and just finding out your posts and all the work and help you've done, looks amazing!
My only problem as a new trader its a little confusing watching the different videos that are posted to help supplement what you're adding on to.

Do you have or may you create a tutorial video for your indicators and how to set them up. I've watched multiple videos posted along side your scripts but still I'm very lost as a new trader.

May you demonstrate what it is you do and how you do it. So newbies like I would be able to benefit from a dummy proof way of learning.
Appreciate the response, and I'm glad you like the scripts.

As a new trader this probably isn't the best way to start as there is a lot going on, and can be overwhelming. Basic VWAP deviation bands overlaying your chart with no squeeze clouds enabled and no weekly x monthly vwap crossovers would be the way to go + probably 1 or 2 lower indicators such as RSI and/or MACD. Also work in reading market internals. This way you won't be overwhelmed with so much information on your screen and once you have a consistant trading strategy then you should try to slowly add and test other things and see how it works out. I don't think there is any dummy proof way of learning, you just need a lot of screen time and reading charts. Paper trade micro futures or forex can also help outside of regular trading hours.

Not sure if I'll be making a video anytime soon, a more detailed write up is more likely at some point when I have more free time.

also feel free to send me an email, I try to respond to everyone in a timely manner, and I have some stuff I can share that'd probably help you out.
 
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CaliUrsa

New member
also feel free to send me an email, I try to respond to everyone in a timely manner, and I have some stuff I can share that'd probably help you out.
Wow definately a lot I'll be reading up on now, so thank you for all the knowledge and I dont know if theres a restriction on new members and messages but I can't seem to send one, sorry about that.
 
Welkin

Welkin

Active member
VIP
Wow definately a lot I'll be reading up on now, so thank you for all the knowledge and I dont know if theres a restriction on new members and messages but I can't seem to send one, sorry about that.
i keep it in the header of the scripts I've posted, welkincall at gmail
 
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