VWAP Volume Breakout Indicator for ThinkorSwim

[ozzie]

@mohitdas This should do it:

# Alerts
Alert(bull, " ", Alert.Bar, Sound.Chimes);
Alert(bear, " ", Alert.Bar, Sound.Bell);

How do we add this code and where do we add these codes I'm new

 

[MerryDay]

How do we add this code and where do we add these codes I'm new

Add the code from here: https://usethinkscript.com/threads/vwap-volume-breakout-indicator-for-thinkorswim.573/#post-4317
following these instructions:
https://usethinkscript.com/threads/how-to-import-existing-thinkscript-code-on-thinkorswim.10/

If you want alerts add this code to the bottom of the study that you just created:

# Alerts
Alert(bull, " ", Alert.Bar, Sound.Chimes);
Alert(bear, " ", Alert.Bar, Sound.Bell);

Keep in mind these alert caveats:
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-58010

 

[Hansenj21]

@BenTen Super new to coding here. But I feel I have found a simple yet effective trading theory. I am looking for a code and alert to stocks that close above VWAP on one minute candles. Happy to share this theory to someone that can help. Without an alert and just placing trades by watching them myself I have seen +85% success.

Also is there a video to watch to input this code? Again super new to coding.

Thank you!

 

[MerryDay]

@BenTen Super new to coding here. But I feel I have found a simple yet effective trading theory. I am looking for a code and alert to stocks that close above VWAP on one minute candles. Happy to share this theory to someone that can help. Without an alert and just placing trades by watching them myself I have seen +85% success.

Also is there a video to watch to input this code? Again super new to coding.

Thank you!

Close Crosses Above VWAP Scanner

1. Shared Scan Link: http://tos.mx/LFD2nFg Click here for --> Easiest way to load shared links
2. To create alerts. See image below.
   1. click on
      
      menu icon that is down by results
   2. click on alert scan results change

 

[delasol79]

@RichSprinkles Actually, I found the reason. It was due to the condition below:

def above_volume = Vol crosses above VolAvg;

I changed it to:

def above_volume = Vol > VolAvg;

And that seems to fix the issue. Recheck the code in the first post. I just updated it.

Thanks @BenTen, love this indicator, definitely adds value to the VWAP.
I've added below to the script
input n = 5; # hint: input number to multiply VolAvg times this number

and changed below code

def above_volume = Vol > VolAvg;
to
def above_volume = Vol > n * VolAvg;

I find that this helps with different time frames and eliminates a lot of the noise where volume is just above the average and not enough to be significant. I use 5x volume average for 30 minutes or higher and 2x volume average for below 30 minutes, but feel free to set whatever figure suits your trading style.

Hope this helps anyone and thanks again BenTen!