I couldn't find an indicator that accomplished what I wanted, so I just made one. The indicator simply plots the Up volume and Down volume separately, as an average.
Simple concept - price closes above the typical (H+L)/2 then it's marked as up volume, and vice versa for down volume.
- If the up volume band is higher than the down volume band, then market is probably moving up.
- If both bands are declining, there is not much interest at these prices.
- If bands are moving towards each other, trend reversal.
- If bands are moving away from each other, trend continuation.
Anyway, don't read too much into it.
Here is the code, some screen shots, and a MultiCharts pla.
After reading John Bollinger's book Bollinger on Bollinger Bands I thought to make one of the indicators he mentioned in the book. So here you have the VWMACD indicator with an EMA as a signal line. This indicator was developed by Buff Dormeier and popularized by this book. This one is for multicharts.
Standard VWAP study with alternating clouds. The clouds can be turned on or off in the inputs. The preset colors are for a light background but can be changed in the Global Settings as well as the VWAP line color.
This spreadsheet study will extend the previous period’s ending VWAP values into the current period. This study works on intraday charts and historical charts using any of the VWAP Time Period Types (except Minutes).
Unzip the attached and put the contents in your Sierra Chart \Data folder, then click on Analysis >> VWAP ExtendPrev-
Set the Time Period Type in cell J1 to match the Time Period Type in the VWAP study settings.
Both the VWAP Time Period Type and cell J1 must be a greater interval than the chart bar.
The default subgraph settings show only the VWAP and the first band. If you want to see the other bands, set the Draw Styles of the other subgraphs to something other than Ignore.
The study collection will load the correct spreadsheet study with the correct settings, and it will add an instance of the Volume Weighted Average Price study. If you already have the VWAP study added to your chart, you can remove the instance this study collection adds.
The formulas on the spreadsheet assume the VWAP study appears in columns AA-AI. Either move the VWAP study to the top of the Studies to Graph list, or edit the formulas in cells K3-S3 to reference the correct VWAP columns.
This spreadsheet’s formulas are built on Sheet1, which corresponds to Chart #1. If you apply this study to a different chart number, you must copy the contents of cells I1-J2 on Sheet1 to cells I1-J2 of the corresponding Sheet#.
July 19th, 2013
Size: 48.04 KB
Downloaded: 326 times
1432
tomgilb
This is a modified version of the default thinkorswim VWAP indicator combined with the thinkscripter Chart Period VWAP and Standard Deviation Bands (https://www.thinkscripter.com/indicator/chart-period-vwap-and-standard-deviation-bands) to have three standard deviations rather than the default one sd. Has other options to calculate the bands but they may or may not be accurate.
* The "standard" Band Type is the default thinkorswim VWAP indicator formula.
* Cloud color can be changed under the "Globals" option.
Update 3/7/2014
* Available Time Frame was: Day, Week, Month, Chart.
Available Time Frame now: Day, Week, Month, Year, Minute, Hour, Chart, "Opt Exp", Bar.
* Added option to hide cloud.
* Added option to hide SD lines.
February 23rd, 2014
Size: 4.62 KB
Downloaded: 963 times
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rmejia
(Ver 3.1.0) updated 04/01/2014
Added option for chart Type UniRenko....(per request from BMT member)
NOTE: The UniRenko MUST get it's chart parameters in the following format...(UniRenko requirement not mine)
...for the bar type to recognize what 'time' parameters you are passing.
- Three digits (with leading zeros) for the first UniRenko parameter
- Three digits (with leading zeros) for the second UniRenko parameter
- Three digist (with leading zeros) for the third UniRenko parameter This means 9 digits total...,NO SPACES
-----------------------------------------------------
I also added capability for TEMA and DEMA moving averages
10/16/2011...Added option to color Up/Dn/Neutral....for xcMovAvg2 averages. Also.....refined the algorithm to smooth out the 'stairsteps' on the chart where the main chart continues to paint bars but the larger-time-frame on which xcMovAvg2 is running...has not yet painted it's new bar.
06/05/2011... Added BetterRenko as an option for alternate chart time frame
(per request from forum members).
NOTE: Be sure BetterRenko is loaded as "Custom4" in bartype....(Custom4 is the default setting in the BetterRenko download).
05/22/2011 ... Added optional bands (per request from forum members)
Option to select Fibonacci bands...or percent bands...or
Std Deviation bands...from any moving average from any period.
04/11/2011 .... Added SMMA (per request from a forum member)
Multi Time frame indicator....(xc = 'cross chart' Moving Average)
Will allow you to plot an EMA, WMA, HMA, SMA, BMTCollectiveMA, or ADXVMA from another time period on your chart.
Typical usage has been to plot a larger time frame EMA on a smaller time frame chart....for example the 5 and 15 EMA (20) are popular EMAs, and folks sometimes like to see this plotted on a 1min, or 6 range, (or other) smaller time frame chart.
Plots are configurable for color, size, dashstyle, etc.
The ADXVMA is configurable with 'rising' 'falling' and 'neutral colors.
February 27th, 2011
Size: 26.61 KB
Downloaded: 935 times
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photog53
This is a chart of a Zigzag with growex's version of VWAP and a Volume Profile that recalculate at each zigzag. The Zigzag has many options, and does include an autofibextension. The Zigzag shown is based upon a moving average of the hl2, and can repaint, but not as often as the high/low option.
November 28th, 2020 04:38 AM Colin F The download file is a video not a NT8 archive.
November 7th, 2018 05:46 AM romus Great tool, Thank you!
March 5th, 2016 12:23 PM canariohkg36 it does not work
February 24th, 2016 12:22 AM Trade58 I appears that this issue was presented on April 4, 2015, but has not been resolved. The link still downloads a .TS movi
e file.
It would be helpful to locate a working VWAP indicator for NT7. The one located in the Ninja Forum is buggy and does not
print an accurate volume weighted average price.
From what we can determine, a standard VWAP indicator does not exist in either the Elite or non-elite sections.
April 4th, 2015 02:26 PM TraderWW I have problem installing it. The file format is .ts, which is a video file. Can you help?
December 8th, 2019 03:36 PM Texsus This is amazing. I There any documentation that I can read about it?
Thank you
March 21st, 2015 08:48 PM panamajack Thanks I just saw the notes on the original Zig-Zag - VWAP below - excellent work and thanks for all of your hard work
PanakaJack
March 4th, 2015 09:57 PM adpras16 Thanks in advance garry, can u explain what strategies to use this indicator?
February 8th, 2015 04:00 AM dorony i can not compile this
April 19th, 2023 10:56 PM MajesticLegacy Is there a update to this indicator. Not sure if the current version is still working with the New Version of NT8. Tha
nk you.
Andrea
December 19th, 2022 07:16 PM NGtrader Downloaded your template years ago but finally came to appreciate the simplicity and effectiveness now. Thank you!!
July 4th, 2022 06:24 AM LoboTrader Thank you !
July 20th, 2021 03:29 AM SlimSala Excellent job. Many thanks!