Homogeneously weighted moving average (
H
W
M
A
) charts have recently achieved popularity for monitoring small changes in process parameters (location and/or dispersion). Furthermore, the
D
H
W
M
A
(double
H
W
M
A
) and
T
H
W
M
A
(triple
H
W
M
A
) are the advanced versions of the
H
W
M
A
charts. The
H
W
M
A
chart for the process dispersion is designed to detect only the upward (one-sided) shift (i.e., process deterioration). Employing a two-sided chart for concurrently detecting both process improvement and process deterioration is an important aspect of statistical process monitoring. By taking this point as motivation, one and two-sided
T
H
W
M
A
charts (symbolized as the
T
H
W
M
A
V
) are proposed for monitoring the process dispersion. The Monte Carlo simulations are performed to investigate the performance behavior of the
T
H
W
M
A
V
charts in terms of certain performance indicators, including
A
R
L
,
S
D
R
L
,
E
Q
L
,
R
A
R
L
, and
P
C
I
. The comparison among the
T
H
W
M
A
V
versus existing charts (
D
H
W
M
A
V
,
H
W
M
A
V
,
T
E
W
M
A
V
,
D
E
W
M
A
V
, and
E
W
M
A
V
) indicates that the
T
H
W
M
A
V
charts outperform the existing charts. Finally, a dataset is also analyzed to illustrate the implementation of the
T
H
W
M
A
V
charts.