VWAP Scalp/Reversal Indicator - 1min chart - for ThinkorSwim

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RConner7

Member

i can't actually see the vwrap on the chart is it invisible ? and can someone explain what filters are involved in the signals?
The VWAP isn't active in the indicator itself but you can add it as a separate indicator if you'd like. This indicator uses the upper and lower deviation bands if you'd like to keep those active as well (most don't). I didn't keep the VWAP active on the indicator because a lot of people like to keep their charts clean and it can always be added in as a 2nd indicator.
 
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RConner7

Member
Anyone catch this $DAL move? This indicator nailed it... i unfortunately missed it.

 
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RConner7

Member
$WFC - anyone catch this one? grateful that i nailed this run!
 
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Bung Bang

New member
Does this study works on 3 min timeframe or only for 1min TF?
 
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RConner7

Member
Does this study works on 3 min timeframe or only for 1min TF?
I personally have not tried this on anything beyond a 1min. It's very possible it works on others but i can't say for sure to what extent. I'd be curious to hear results if anyone has tried it out.
 
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Trading51

Active member
2019 Donor
Warehouse
Does anyone know roughly how many bars after does price add the horizontal line at the low or high >?
 
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Trading51

Active member
2019 Donor
Warehouse
$ES futures at 1:11 PM, I have 11 bars counted and a green line at the highs was added, what's the formula or reason or some sort of logic to why this line is drawn and when? anyone?
 
R

RConner7

Member
R

RConner7

Member
Does this study works on 3 min timeframe or only for 1min TF?
You have sparked my interest in the 3min charts with this indicator.

I usually put up between 10-15 stocks with this indicator running and just wait for alerts. I looked at those stocks i picked for today on a 3min chart vs a 1min chart and every one would have been a winner.

3min charts from today:










May needed to average in a bit on $LUV


I've never traded from a 3min chart. I usually use 1 or 2min. I've noticed myself pysching myself out of trades more on the 1min charts. I get too nervous and close winners early. I wonder if the longer chart would help me with that.

What is your reasoning for using the 3min chart?
 
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Bung Bang

New member
Thanks for your quick reply to my 3min question; glad that it should work. I found 1min day trading is too fast with a lot of volatility so I have been trying 3min TF as a newbie.

BTW, can you take a look at 1min for OLLI ticker at just before noon time (EST 4/29), there are four bullish arrows appearing one after another, are they considered 'false' signals ?
 
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MazeNoFugazi

New member
Hey Connor - thanks for the script; noticed some spot on indicators on $BAC yesterday. Will keep you posted.
 
R

RConner7

Member


What a move in $DIS Disney today. I luckily was able to catch the run!

I made a V2 of the script based on feedback and testing on the 3min charts. This V2 will show 3min signals on the 1min chart. For example... the 3 small yellow arrows are made up from the signal from the 3min time frame but alerted on the 1min chart.

ALSO - important... you should not enter trades unless the next ~1-3 candles breaks the higher or low of the signal candle. If there is no break, do not take the trade. I have actually been giving it a few extra pennies after the break. I can provide he V2 for 3min signals if anyone would like.

Remember... if the signal just gives you a small bounce... take the profit from the small bounce and then enter if it breaks back below or above the signal candle. I've noticed that some of these trades can be very profitable as well since most will be in the direction of the trend if it's not a true trend reversal.
 
R

RConner7

Member

2 awesome signals on $PYPL today on the 1min chart


good 3min signal on the 1min chart on $NCLH
 

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