Hi community,
I keep thinking of things to program in thinkorswim. I know a lot of you guys use VWAP so i wanted to create something along those lines.
I created a way to keep tabs on how many standard deviations a stock is away from the VWAP. I'm aware some people like to know when it gets +2/-2 away to look for a move back to VWAP. See picture to illustrate.
I also began creating a scan to find these stocks.
Any tips on what else might be a useful indicator/scan for the community please let me know!
I use RSI basic and 5/15 expmovingaverage level 2 thats it. I use 5 min chart for pattern 1 min for entry and LVL2's times and sales for trend changes.
I've been going back and fourth on 1min vs 5min for entry. Can't decide which is best. RSI though, yeah, that's almost a magic technical indicator. I have found dozens of picks with RSI, picks that I put on my watch list and then a few hours later see them on Tim's watch list too.
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