Z distance from VWAP [LazyBear]

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This calculates normal distance of price from VWAP . This is a mean reverting idea (something like ZScore), but using both "volume" and "close".

Useful for finding OB/OS areas and potential turning points.

Complete list of my indicators:
```//
// @author LazyBear
// List of all my indicators: https://www.tradingview.com/v/4IneGo8h/
//
study("Z distance from VWAP [LazyBear]", shorttitle="ZVWAP_LB")
length=input(20)

calc_zvwap(pds) =>
mean = sum(volume*close,pds)/sum(volume,pds)
vwapsd = sqrt(sma(pow(close-mean, 2), pds) )
(close-mean)/vwapsd

plot(0)
upperTop=input(2.5)
upperBottom=input(2.0)
lowerTop=input(-2.5)
lowerBottom=input(-2.0)

plot(1, style=3, color=gray), plot(-1, style=3, color=gray)
ul1=plot(upperTop, "OB High")
ul2=plot(upperBottom, "OB Low")
fill(ul1,ul2, color=red)
ll1=plot(lowerTop, "OS High")
ll2=plot(lowerBottom, "OS Low")
fill(ll1,ll2, color=green)
plot(calc_zvwap(length),title="ZVWAP",color=maroon, linewidth=2)

```
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

What does PDS define?
It doesnt seem to work for currencies and indexes... any idea ?
AhhBoii
@AhhBoii, they don't have volume. Look at futures instead
This seems really interesting/powerful used in conjunction with MACD/Derivative Oscillator as well as your WT_LB indicator. Could you talk a bit here about how you use it? It seems in backtesting that it gives a good leading indicator of possible MACD crosses.

(am newb, thanks much)
Is there a way to create a search parameter for Thinkorswim using this indicator?
john.main.982
@john.main.982, you need thinkoswim programmer.
How do I add this to thinkorswim? Copy/paste isn't working. Thanks!
Special_Grant
@Special_Grant, it needs ThinkOrSwim programmer.
Great !...The big boys come in when price deviates 4% from VWAP ....fyi ;)