VWAP Average Indicator for ThinkorSwim

horserider

Well-known member
VIP
A fast and slow moving average of the VWAP since someone requested it. Again never used it. Play with it and report any results. I see little use for it.

Code:
##  VWAPMovAvg2Line_JQ

#

# two line simple or exponential moving average

# by JQ 2008-08-31

# Not my own code... thinkMOney maybe



def VWAP = vwap();



input displace = 0;

input fastlength = 6;

input price = close;

input slowlength = 13;





input Averagetype = {default Exponential, Simple};



plot fastavg;

plot slowavg;



switch (Averagetype)



{



case Simple:

    fastavg = Average(vwap[-displace], fastlength);

    slowavg = Average(vwap[-displace], slowlength);



case Exponential:

    fastavg = ExpAverage(vwap[-displace], fastlength);

    slowavg = ExpAverage(vwap[-displace], slowlength);



}
 
Last edited by a moderator:

horserider

Well-known member
VIP
7WJJFw1.png
 

horserider

Well-known member
VIP
@Nick Sure. It is linear regression channel. ToS has some under linearregch> ToS has a 50, 100 and var. Also can use standarddevchannel or standarderrorchannel. Probably better to go with standard deviation channel it is easier to understand. Set it at 1.3 or 2 . If you want the 5 lines add two studies and set one to 1.3 and the other to 2.0
 

markos

Well-known member
VIP
@horserider Thank you for your input on the top of the chart. I see very little use for the moving averages as well. As I understand it, the LRC was added by you in this instance and is not part of the code.
 

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Top