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

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RConner7

Member
@shizah - I have added the 3min V2 to the first post.

Add both the V1 and V2 to the chart to give both 1min alerts and 3min alerts.
 
R

RConner7

Member
@BenTen - any chance you can remove the 1min from the thread title?
 
B

barbaros

Member
@RConner7 you can change the agg variable to be an input so you don't have to have 2 different versions. User can pick it from a drop down when adding to the chart.

Code:
input agg = aggregationPeriod.THREE_MIN;
 
H

HighBredCloud

Active member
VIP
@RConner7 I am going to try this on a higher timeframes...5 min to 1 hour so I will report back here...Perhaps I missed...I just want to double check...the two studies you posted are the same except the V2 is giving you 3 min alerts on 1 min correct? No other differences? I just want to be sure not to include the two studies if on higher timeframes they will be the same...Thanks...I really enjoy your studies!
 
R

RConner7

Member
@RConner7 I am going to try this on a higher timeframes...5 min to 1 hour so I will report back here...Perhaps I missed...I just want to double check...the two studies you posted are the same except the V2 is giving you 3 min alerts on 1 min correct? No other differences? I just want to be sure not to include the two studies if on higher timeframes they will be the same...Thanks...I really enjoy your studies!
that is correct. If using the 5min chart I would use the v1 only because it’ll use whatever timeframe you have set. The v2 will force to 3min. You could also modify the code slightly to what Barbados mentioned to allow yourself to pick the time frame. I just didn’t do that on my end because I don’t really trade higher time frames much.
 
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HighBredCloud

Active member
VIP
that is correct. If using the 5min chart I would use the v1 only because it’ll use whatever timeframe you have set. The v2 will force to 3min. You could also modify the code slightly to what Barbados mentioned to allow yourself to pick the time frame. I just didn’t do that on my end because I don’t really trade higher time frames much.
Thanks for the clarification...Not much of a coder but let me first see how this does...I see that the reversals are based on candle patterns...Perhaps if you ever decide to do something for longer timeframes would you consider implementing Tweezer Tops and Tweezer Bottoms? These seem to be very good indicators of a reversal as well on basically any timeframe. I will test this out and keep everyone posted here. Looking back at some stocks from today the signals are rare on higher timeframes...Only a few hit but were spot on.
 
Juston410

Juston410

New member
VIP
Is there a way to set this up to work with low cap stocks/micro stocks? It seems to work fine with other stocks but not with low float/micro stocks. Thanks man!
 
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R

RConner7

Member
Thanks for the clarification...Not much of a coder but let me first see how this does...I see that the reversals are based on candle patterns...Perhaps if you ever decide to do something for longer timeframes would you consider implementing Tweezer Tops and Tweezer Bottoms? These seem to be very good indicators of a reversal as well on basically any timeframe. I will test this out and keep everyone posted here. Looking back at some stocks from today the signals are rare on higher timeframes...Only a few hit but were spot on.
I modified the v2 code to allow for changing of the aggregation period. The v1 should still allow for alerts on any time frame and based off that current time frame. Only the V2 will give you alerts for patterns on a higher time frame... for example... if you are looking at a 1min chart, it will give alerts based off a 3min chart.

I will also look into the tweezer pattern to see if i can figure out how to code it.
 
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R

RConner7

Member
Is there a way to set this up to work with low cap stocks/micro stocks? It seems to work fine with other stocks but not with low float/micro stocks. Thanks man!
if the chart is getting volume, it will make the chart better for showing signals. For example... if the candles show a 1-3 cent range regularly per change, it'll be difficult to read a good setup. Do you have an example stock symbol that you had in mind?
 
H

HighBredCloud

Active member
VIP
I modified the v2 code to allow for changing of the aggregation period. The v1 should still allow for alerts on any time frame and based off that current time frame. Only the V2 will give you alerts for patterns on a higher time frame... for example... if you are looking at a 1min chart, it will give alerts based off a 3min chart.

I will also look into the tweezer pattern to see if i can figure out how to code it.
OK...sounds good...So for higher aggregations other than 1 min use the V2...Got it...I am really curious to see how this will work on 15 min to 1 hour...Will keep everyone posted here. Thanks again for doing the modification to allow higher timeframes.
 
R

RConner7

Member
OK...sounds good...So for higher aggregations other than 1 min use the V2...Got it...I am really curious to see how this will work on 15 min to 1 hour...Will keep everyone posted here. Thanks again for doing the modification to allow higher timeframes.

well... if you want to use a high time frame V1 should be fine, you will only get 1 arrow and alert based of the viewed time frame.

but... if you use the V2 and are looking at a 15min chart and set the aggregation to a 1hr it will give you 4 arrows for a valid signal; meaning the 1hr chart showed a signal.

I put both v1 and v2 on my charts. I look at a 1min chart and get alerts based off 1min. I also get alerts based on a 3min aggregate because i set the agg to 3min on the v2. This allows me to only look at a 1min chart and get alerts based off both time frames. Hope that makes sense. I would just play around with it and give it a shot.
 
HighNDryTrader

HighNDryTrader

New member
@RConner7 love this indicator will be using it next week. I also would love the SPY label if you could share you would have a friend for life.
 

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