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Updates to Weis Wave released, and new walkthrough video (finally! :-)

Thinkorswim Weis Wave and Ord-Volume Indicator Settings 1

Sorry it’s taken me so long to do an actual video for the Weis Wave & Ord-Volume indicator, but that is finally done now and released on the Weis Wave page and the Youtube channel.

I also released some small improvements to the behavior and settings and coloration options.

I’m currently working on some major improvements to the overall features including different methods for identifying waves instead of just the existing ZigZag method, as well as a more full-featured trend identification scheme, so keep an eye out for a beta of that to be released soon.

Meanwhile, check out the latest small update and video here.

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Automatic Zig Zag Anchored VWAP and Volume Profile

I had a request to do this indicator from a customer and I thought it would be a useful tool, so I got to work on it. I’ve added this as a free bonus to the existing Anchored VWAP and VWAP multiple timeframe set here.

The basic idea is you can define your Zig Zags as usual with the built in Zig Zag indicator. But instead of just plotting zig zags, the indicator will plot volume profiles for each wave/swing, and additionally anchor VWAPs to the most recent 5 swing high/low pivot points and plot them forward in time to present.

Here’s a quick walk through:

Thinkorswim automatic Zig Zag Anchored aVWAP and Volume Profile
Thinkorswim automatic Zig Zag Anchored aVWAP and Volume Profile

Get the indicator here (or if you’re an existing owner download it in the My Account > Orders > View Order Details page):

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Updates to ValueCharts

I recently overhauled ValueCharts and added some new features, such as a data frequency distribution like the one in the original book “Dynamic Trading Indicators”, showing how often different readings on the indicator are touched so you can place trades at the most ideal levels. For the data points you can either use the closing value of each ValueCharts bar, or the midpoint of each Value Charts bar.

I also added a back test enabled strategy file where you can see how your chosen levels perform on whichever symbols you like. The strategy includes an optional trend filter so you can tell it to only take long trades above a certain moving average, such as the 200 SMA, and only shorts below it, etc.

As always, prior purchasers get the updates for free and new customers will have access immediately at check out.

Click here to check it out.