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Request - Anchored VWAP - Displaced bands + SD bands
TC2000 offer anchored VWAP which is amazing.
I'm looking for 2 upgrade to be done on Anchored VWAP itself :
1- Show Displacement Channels (upper bands + lower bands) shifted up/down above/below VWAP by a distant x which i can play with ?
2- Show Standard Deviation Bands around Anvhored VWAP with SD(x) above/below VWAP ?
There are some ideas that can be done for Anchored VWAP in this link
plz check the link - it has good ideas to adapt into TC2000 using Anchored VWAP such as: Calibrated Curves / Displacement Channels / Standard Deviation Bands / Average Curves / Delta Curves.
It will be great if you can help me to do similar things in TC2000.
Thank you for your suggestions.
Is it possible to apply them with current TC2000 ? i.e. the VWAP indicator not the Anchored VWAP ?
If you mean the plain VWAP indicator without a period which resets itself at the start of each trading day, you can do 1 with bands being a percentage above or below the bands but not as a net difference or using multiples of standard devation as you want to do in 2.
Add a 1 period Envelope Channel to the VWAP indicator and set the Width (%) indicator to the desired percentage.
If you mean the Moving VWAP indicator with a period, the above technique works for percent bands, but you can also add and subtract a fixed value or multiple of standard deviation.
Moving Volume Weighted Average Price (MVWAP)
So let's say you wanted to plot bands adding and subtracting 10 to a 20 period Moving VWAP using Custom PCF Channel Indicators.
AVG((O + H + L + C) * V, 20) / 4 / AVGV20
Or you wanted to plot bands adding and subtracting 2 standard devations to a 20 period Moving VWAP using Custom PCF Channel Indicators.