Welcome to the sixth episode of “How to Thinkscript”. We are TOSIndicators.com, home of the Volatility Box, the most robust ThinkOrSwim indicator based on statistical models built for large institutions and hedge funds.
In today’s video, we’re going to show you how to build scans for our most downloaded indicator – the V-Score. There are numerous versions on the internet, both paid and free.
Ours is free and includes the following features:
For today’s tutorial, we build 4 scans: 2 bullish and 2 bearish scans, that will help you find trade opportunities in the market place.
You will need the V-Score for this tutorial. Click here to download it for free.
If you’d like to skip the tutorial and start playing with the scans right away, you can download the V-Score Scans for free below.
What is the VScore?
The V-Score is a trading indicator that helps you measure the Z-Score distance between price action and the VWAP bands.
The V-Score helps you understand whether you’re predominantly above or below the mean, and what a true reversion to the mean looks like with a volume-weighted-average-price (VWAP).
You can anchor the VScore to any particular date, and use the tool to understand whether we’ve pulled back enough to a place where the symbol has usually found support, or where resistance has generally presented itself.
Click the button below to download the V-Score Scans