Share SizeA helpful tool that estimates the amount of times you can trade at your current share size in a small account.
You can adjust the numbers in the settings page!
Utility
Swing DistanceHello fellas,
This simple indicator helps to visualize the distance between swings. It consists of two lines, the highest and the lowest line, which show the highest and lowest value of the set lookback, respectively. Additionally, it plots labels with the distance (in %) between the highest and the lowest line when there is a change in either the highest or the lowest value.
Use Case:
This tool helps you get a feel for which trades you might want to take and which timeframe you might want to use.
Side Note: This indicator is not intended to be used as a signal emitter or filter!
Best regards,
simwai
Multi-Chart Widget [LuxAlgo]The Multi-Chart Widget tool is a comprehensive solution crafted for traders and investors looking to analyze multiple financial instruments simultaneously. With the capability to showcase up to three additional charts, users can customize each chart by selecting different financial instruments, and timeframes.
Users can add various widely used technical indicators to the charts such as the relative strength index, Supertrend, moving averages, Bollinger Bands...etc.
🔶 USAGE
The tool offers traders and investors a comprehensive view of multiple charts simultaneously. By displaying up to three additional charts alongside the primary chart, users can analyze assets across different timeframes, compare their performance, and make informed decisions.
Users have the flexibility to choose from various customizable chart types, including the recently added "Volume Candles" option.
This tool allows adding to the chart some of the most widely used technical indicators, such as the Supertrend, Bollinger Bands, and various moving averages.
In addition to the charting capabilities, the tool also features a dynamic statistic panel that provides essential metrics and key insights into the selected assets. Users can track performance indicators such as relative strength, trend, and volatility, enabling them to identify trends, patterns, and trading opportunities efficiently.
🔶 DETAILS
A brief overview of the indicators featured in the statistic panel is given in the sub-section below:
🔹Dual Supertrend
The Dual Supertrend is a modified version of the Supertrend indicator, which is based on the concept of trend following. It generates buy or sell signals by analyzing the asset's price movement. The Dual Supertrend incorporates two Supertrend indicators with different parameters to provide potentially more accurate signals. It helps traders identify trend reversals and establish trend direction in a more responsive manner compared to a single Supertrend.
🔹Relative Strength Index
The Relative Strength Index is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between 0 and 100 and is typically used to identify overbought or oversold conditions in a market. Traditionally, RSI values above 70 are considered overbought, suggesting that the asset may be due for a reversal or correction, while RSI values below 30 are considered oversold, indicating potential buying opportunities.
🔹Volatility
Volatility in trading refers to the degree of variation or fluctuation in the price of a financial instrument, such as a stock, currency pair, or commodity, over a certain period of time. It is a measure of the speed and magnitude of price changes and reflects the level of uncertainty or risk in the market. High volatility implies that prices are experiencing rapid and significant movements, while low volatility suggests that prices are relatively stable and are not changing much. Traders often use volatility as an indicator to assess the potential risk and return of an investment and to make informed decisions about when to enter or exit trades.
🔹R-Squared (R²)
R-squared, also known as the coefficient of determination, is a statistical measure that indicates the proportion of the variance in the dependent variable that is predictable from the independent variable(s). In other words, it quantifies the goodness of fit of a regression model to the observed data. R-squared values range from %0 to %100, with higher values indicating a better fit of the model to the data. An R-squared of 100% means that all movements of a security are completely explained by movements in the index, while an R-squared value of %0 indicates that the model does not explain any of the variability in the dependent variable.
In simpler terms, in investing, a high R-squared, from 85% to 100%, indicates that the stock’s or fund’s performance moves relatively in line with the index. Conversely, a low R-squared (around 70% or less) indicates that the fund's performance tends to deviate significantly from the movements of the index.
🔶 SETTINGS
🔹Mini Chart(s) Generic Settings
Mini Charts Separator: This option toggles the visibility of the separator lines.
Number Of Bars: Specifies the number of bars to be displayed for each mini chart.
Horizontal Offset: Determines the distance at which the mini charts will be displayed from the primary chart.
🔹Mini Chart Settings: Top - Middle - Bottom
Mini Chart Top/Middle/Bottom: Toggle the visibility of the selected mini chart.
Symbol: Choose the financial instrument to be displayed in the mini chart. If left as an empty string, it will default to the current chart instrument.
Timeframe: This option determines the timeframe used for calculating the mini charts. If a timeframe lower than the chart's timeframe is selected, the calculations will be based on the chart's timeframe.
Chart Type: Selection from various chart types for the mini charts, including candles, volume candles, line, area, columns, high-low, and Heikin Ashi.
Chart Size: Determines the size of the mini chart.
Technical Indicator: Selection from various technical indicators to be displayed on top of the mini charts.
Note : Chart sizing is relative to other mini charts. For example, If all the mini charts are sized to x5 relative to each other, the result will be the same as if they were all sized as x1. This is because the relative proportions between the mini charts remain consistent regardless of their absolute sizes. Therefore, their positions and sizes relative to each other remain unchanged, resulting in the same visual representation despite the differences in absolute scale.
🔹Supertrend Settings
ATR Length: is the lookback length for the ATR calculation.
Factor: is what the ATR is multiplied by to offset the bands from price.
Color: color customization option.
🔹Moving Average Settings
Type: is the type of the moving average, available types of moving averages include SMA (Simple Moving Average), EMA (Exponential Moving Average), RMA (Root Mean Square Moving Average), HMA (Hull Moving Average), WMA (Weighted Moving Average), and VWMA (Volume Weighted Moving Average).
Source: Determines what data from each bar will be used in calculations.
Length: The time period to be used in calculating the Moving Average.
Color: Color customization option.
🔹Bollinger Bands Settings
Basis Type: Determines the type of Moving Average that is applied to the basis plot line.
Source: Determines what data from each bar will be used in calculations.
Length: The time period to be used in calculating the Moving Average which creates the base for the Upper and Lower Bands.
StdDev: The number of Standard Deviations away from the Moving Average that the Upper and Lower Bands should be.
Color: Color customization options for basis, upper and lower bands.
🔹Mini Chart(s) Panel Settings
Mini Chart(s) Panel: Controls the visibility of the panel containing the mini charts.
Dual Supertrend: Toggles the display of the evaluated dual super trend, based on the super trend settings provided below the option. The definitions for the options are the same as stated above for the super trend.
Relative Strength Index: Toggles the display of the evaluated RSI, based on the source and length settings provided below the option.
Volatility: Toggles the display of the calculated Volatility, based on the length settings provided below the option.
R-Squared: Toggles the display of the calculated R-Squared (R²), based on the length settings provided below the option.
🔶 LIMITATIONS
The tool allows users to display mini charts featuring various types of instruments alongside the primary chart instrument. However, there's a limitation: the selected primary chart instrument must have an ACTIVE market status. Alternatively, if the primary chart instrument is not active, the mini chart instruments must belong to the same exchange and have the same type as the primary chart instrument.
[TTI] Closing Range Indicator📜 ––––HISTORY & CREDITS––––
This Pine Script Utility indicator, titled " Closing Range Indicator," is designed and developed by TintinTrading but inspired by the teaching of Investor's Business Daily (IBD) and William O'Neil. It aims to help traders identify the closing range of a given timeframe, either daily or weekly.
🦄 –––UNIQUENESS–––
The unique feature of this indicator lies in its ability to simulate a functionality of Closing Range calculation based on hovering of the mouse over the close. It employs a conditional display that allows the user to set the indicator as 'invisible' without removing it from the chart and hence provides a numerical closing range value when hovering over the indicator.
🛠️ ––––WHAT IT DOES––––
The Closing Range Indicator calculates the closing range of a trading bar in terms of percentages. It computes the difference between the closing price and the low price of the bar, and then divides it by the range of the bar.
A stock that closes on the high would display 100%
A stock that closes on the low would display 0%
Generally, the higher the percentage the more bullish the close but there are exceptions to this rule.
The indicator can operate on two timeframes:
Daily : Computes the closing range based on the daily high, low, and closing prices.
Weekly : Computes the closing range based on the weekly high, low, and closing prices. If you enable the weekly it will show the weekly close on all daily timeframes. Meaning that if the week Closing range is 54.15% on Friday, it will show the value 54.15% for all days prior to Friday from the same week.
The indicator places a label at the close of each bar, with the label's tooltip showing the calculated closing range percentage. I generally hide the label and just reference the tooltip calculation with a a hoover on top of the bar.
💡 ––––HOW TO USE IT––––
Installation: Add the indicator to your TradingView chart by searching for " Closing Range Indicator" in the indicator library.
Reorder: Reorder the indicator so that it sits as the first indicator (even above the price) on the Pane. This will make sure that you always trigger the tooltip functionality.
Go to Settings:
Timeframe: Choose between daily ('D') and weekly ('W') timeframes from the settings.
Visibility: Enable the 'Make Invisible' option if you want the indicator to be hidden.
Interpretation:
A higher percentage indicates that the closing price is closer to the high of the range, signaling bullish sentiment.
A lower percentage indicates bearish sentiment.
Tooltip: Hover over the label to view the closing range in percentage terms.
Hide Active Candle [SteinG]Hide Active Candle
An essential tool for disciplined traders seeking to avoid making hasty decisions based on active bars that have not yet closed.
Have you ever found yourself eagerly anticipating an entry, only to be tempted by an active candle that starts to pull away? Or perhaps you've been caught in a trade where an active candle pushes against you, stirring unease and uncertainty. Fear not, for we have a solution!
"Hide Active Candle" is a simple Pine Script indicator designed to ghost the active bar on your chart, reinforcing the importance of patiently waiting for its closure before making any trading decisions. By masking the active candle, this indicator serves as a constant reminder to exercise caution and to base your actions on solid, confirmed information.
To make the most of this powerful tool, ensure that you are using a candlestick chart, as this script operates optimally within that framework. Follow these simple steps to get started:
1. Right-click on your chart and select "Settings..."
2. From the drop-down menu, choose "Symbol" under the "Chart Settings" section.
3. Disable every item in the list to fully utilize the capabilities of "Hide Active Candle."
But wait, there's more! We understand that each trader has unique preferences and requirements. That's why we've included customizable settings within the script to tailor it to your specific needs. You have the option to adjust the following parameters:
- Countdown seconds left : Specify the number of seconds before the bar closes when the current candle becomes visible.
- Bull candle color : Select the color that represents bullish candles on your chart.
- Bear candle color : Choose the color that indicates bearish candles.
- Equal candle color : Define the color for Doji star candles.
- Theme : Opt for a dark or light theme, as the active candle mask will be based on your chosen theme.
- Custom hidden color : Personalize the mask color according to your preferences.
By fine-tuning these settings, you can create a trading environment that perfectly suits your style and enhances your decision-making process.
NNFX Exposure UtilityOVERVIEW
This tool allows the user to manually keep track of how much of their account is currently exposed to each currency, and keep that information handy and organized on the chart as a table.
It is specialized for NNFX traders who are trading all the pairs among the 9 major currency crosses: AUD, CAD, CHF, EUR, GBP, JPY, NZD, SGD, USD.
HOW DO I USE THIS INDICATOR?
Before you take a trade, you should open the indicator settings for this indicator and check off which currencies you are about to go long and short on. Here are 3 trades taken as examples:
If you go long on EUR/USD with 2% risk, your exposure is 2% long on EUR and 2% short on USD.
Then if you go short on GBP/SGD with 2% risk, your exposure is 2% short on GBP and 2% long on SGD.
But if you go long on SGD/JPY with 2% risk, your exposure would now be 4% long on SGD and 2% short on JPY. This is against your rules if you are trading the NNFX way. So this tool allows you to see when you are about to accidentally overexpose yourself to any currency pair.
pineCalc- Calculator for PineHello and welcome to v1.00 of pineCalc - the calculator for Pine
A sleek, quick, and discrete calculator in a window pane in your chart!
Right now it supports basic math operation and series of two numbers but will try to update it and don't hesitate to comment any ideas
SOME FEATURES:
- Supports decimal numbers.
- Switch statement with option to choose Addition, Subtraction, Multiplication , or Division
- Choose any two numbers to use math on
- Inputs, Math Type and Result Output
No Active BarThis is probably the only script on TradingView that's clinically proven to lower your blood pressure!***
This script in conjunction with some chart settings changes can completely hide the active candle, only showing historic candles, thus, reducing risk of cardiac arrest and or panic attack.
What to do:
0. Make sure you are using a candlestick chart or this script won't work properly
1. Right click the chart and select "Settings..."
2. Select "Symbol" under the "Chart Settings" menu
3. Disable every item EXCEPT for the "Body"
4. Click on the boxes next to "Body" to access the color picker then change both box's transparency settings down to 0
(the script only colors closed bars, so the active bar will be present just transparent)
5. Right click on the price scale on the far left or far right side of the screen and hover the mouse over "Labels". If any selections have a check mark next to them click them to disable them (especially the "Ask & Bid" price setting since it tracks current price)
That's it! Instead of wicks the High & Low prices are plotted above and below the candles using a step line. It looks a bit strange at first but you'll get used to it. Check out the indicator settings to change the color and style of the High & Low lines.
***The statement could prove true for some but is mostly complete bullshit
Syminfo [Epi]Hello! This little script tells you everything TradingView lets you access in a ticker's syminfo in Pine Script:
- description
- type: crypto, economic, forex, fund, futures, index, spread, stock
- tickerid, such as AMEX:BLOK
- prefix, such as AMEX
- Ticker, such as BLOK
- root: for derivatives such as futures contracts
- currency, such as USD
- base currency: returns 'BTC' for the ticker 'BTCUSD'
- mintick
- point value
- session: regular, extended
- timezone
Some surprises I found in my development:
- there are some more types than mentioned in the documentation,
- the tickerid takes on additional information if you adjust for dividends or show extended session,
- the prefix contains "_DL" additions depending on your data subscriptions, .e.g. "CME_MINI_DL:ES1!",
- with futures, TV will show session.regular both for the 'regular' and the 'electronic' session.
- Unfortunately, syminfo does not contain the 'sector', although TV has the information in the database (the sector is shown in the screener but not accessed in Pine Script).
I use this little utility in my development and hope it's useful for the community. I see such a great number of contributions from the community and would like to give back, even if it's not much.
[TEMPLATE] Code Block Comments█ OVERVIEW
Here I present to the community at large a collection of code comment blocks that I think will be useful, especially for larger script projects bordering on 2,000 lines or above of code.
█ PLANNED FUTURE UPDATES
Work with the community to expand this template to be even more useful with the inclusion of useful global colour sets, variables, tooltips, groups, etc.
better script thumbnail.
full-screen table or label outlining the script's use-cases.
Stock Dividend Periodicityexperimental:
a basic method to evaluate stock dividend periodicity.
known issues:
* it does not adapt well to changes in periodicity, if there is a big enough change on the dividend period plan.
Run TimerThis is a simple utility which counts the number of bars and time elapsed after starting the script. This can be used in time or bars based conditions to modify script behavior.
This particular script does the following:
Starts timer when script is added to chart
Timer is green when starting and continues to be in green if the right Auth key is used in input (Which is hardcoded as 1234 here)
If right auth key is not provided in the input, timer background turns red after trial bars.
Script can be modified to use elapsed time instead.
Thanks to @Bjorgum on assisting on few calculations :)
Function - Forecast LinearFunction to calculate a forecast using a linear regression approach, this is the same function used on excel and other data sheet programs.
reference:
- support.microsoft.com
- stackoverflow.com
Function - Sequence From SeriesFunction to create a array from a sample taken from a series (ex:. close, hlc3...).
[UTILS] Session Input ParserAn utility function to parse session inputs. Extracts hours, minutes and weekdays (if defined) and returns a tuple as the result.
_parseSession(sessionString) => (hourStart, minuteStart, hourEnd, minuteEnd, weekdaysArray)
Examples presented on the chart.
Filter Information Box - PineCoders FAQWhen designing filters it can be interesting to have information about their characteristics, which can be obtained from the set of filter coefficients (weights). The following script analyzes the impulse response of a filter in order to return the following information:
Lag
Smoothness via the Herfindahl index
Percentage Overshoot
Percentage Of Positive Weights
The script also attempts to determine the type of the analyzed filter, and will issue warnings when the filter shows signs of unwanted behavior.
DISPLAYED INFORMATION AND METHODS
The script displays one box on the chart containing two sections. The filter metrics section displays the following information:
- Lag : Measured in bars and calculated from the convolution between the filter's impulse response and a linearly increasing sequence of value 0,1,2,3... . This sequence resets when the impulse response crosses under/over 0.
- Herfindahl index : A measure of the filter's smoothness described by Valeriy Zakamulin. The Herfindahl index measures the concentration of the filter weights by summing the squared filter weights, with lower values suggesting a smoother filter. With normalized weights the minimum value of the Herfindahl index for low-pass filters is 1/N where N is the filter length.
- Percentage Overshoot : Defined as the maximum value of the filter step response, minus 1 multiplied by 100. Larger values suggest higher overshoots.
- Percentage Positive Weights : Percentage of filter weights greater than 0.
Each of these calculations is based on the filter's impulse response, with the impulse position controlled by the Impulse Position setting (its default is 1000). Make sure the number of inputs the filter uses is smaller than Impulse Position and that the number of bars on the chart is also greater than Impulse Position . In order for these metrics to be as accurate as possible, make sure the filter weights add up to 1 for low-pass and band-stop filters, and 0 for high-pass and band-pass filters.
The comments section displays information related to the type of filter analyzed. The detection algorithm is based on the metrics described above. The script can detect the following type of filters:
All-Pass
Low-Pass
High-Pass
Band-Pass
Band-Stop
It is assumed that the user is analyzing one of these types of filters. The comments box also displays various warnings. For example, a warning will be displayed when a low-pass/band-stop filter has a non-unity pass-band, and another is displayed if the filter overshoot is considered too important.
HOW TO SET THE SCRIPT UP
In order to use this script, the user must first enter the filter settings in the section provided for this purpose in the top section of the script. The filter to be analyzed must then be entered into the:
f(input)
function, where `input` is the filter's input source. By default, this function is a simple moving average of period length . Be sure to remove it.
If, for example, we wanted to analyze a Blackman filter, we would enter the following:
f(input)=>
pi = 3.14159,sum = 0.,sumw = 0.
for i = 0 to length-1
k = i/length
w = 0.42 - 0.5 * cos(2 * pi * k) + 0.08 * cos(4 * pi * k)
sumw := sumw + w
sum := sum + w*input
sum/sumw
EXAMPLES
In this section we will look at the information given by the script using various filters. The first filter we will showcase is the linearly weighted moving average (WMA) of period 9.
As we can see, its lag is 2.6667, which is indeed correct as the closed form of the lag of the WMA is equal to (period-1)/3 , which for period 9 gives (9-1)/3 which is approximately equal to 2.6667. The WMA does not have overshoots, this is shown by the the percentage overshoot value being equal to 0%. Finally, the percentage of positive weights is 100%, as the WMA does not possess negative weights.
Lets now analyze the Hull moving average of period 9. This moving average aims to provide a low-lag response.
Here we can see how the lag is way lower than that of the WMA. We can also see that the Herfindahl index is higher which indicates the WMA is smoother than the HMA. In order to reduce lag the HMA use negative weights, here 55% (as there are 45% of positive ones). The use of negative weights creates overshoots, we can see with the percentage overshoot being 26.6667%.
The WMA and HMA are both low-pass filters. In both cases the script correctly detected this information. Let's now analyze a simple high-pass filter, calculated as follows:
input - sma(input,length)
Most weights of a high-pass filters are negative, which is why the lag value is negative. This would suggest the indicator is able to predict future input values, which of course is not possible. In the case of high-pass filters, the Herfindahl index is greater than 0.5 and converges toward 1, with higher values of length . The comment box correctly detected the type of filter we were using.
Let's now test the script using the simple center of gravity bandpass filter calculated as follows:
wma(input,length) - sma(input,length)
The script correctly detected the type of filter we are using. Another type of filter that the script can detect is band-stop filters. A simple band-stop filter can be made as follows:
input - (wma(input,length) - sma(input,length))
The script correctly detect the type of filter. Like high-pass filters the Herfindahl index is greater than 0.5 and converges toward 1, with greater values of length . Finally the script can detect all-pass filters, which are filters that do not change the frequency content of the input.
WARNING COMMENTS
The script can give warning when certain filter characteristics are detected. One of them is non-unity pass-band for low-pass filters. This warning comment is displayed when the weights of the filter do not add up to 1. As an example, let's use the following function as a filter:
sum(input,length)
Here the filter pass-band has non unity, and the sum of the weights is equal to length . Therefore the script would display the following comments:
We can also see how the metrics go wild (note that no filter type is detected, as the detected filter could be of the wrong type). The comment mentioning the detection of high overshoot appears when the percentage overshoot is greater than 50%. For example if we use the following filter:
5*wma(input,length) - 4*sma(input,length)
The script would display the following comment:
We can indeed see high overshoots from the filter:
@alexgrover for PineCoders
Look first. Then leap.
Bands-Trailing Stop UtilityIntroduction
Bands and trailing stops are important indicators in technical analysis, while we could think that both are different they can be in fact closely related, at least in the way they are made. Bands and trailing stops can be made from a simple central tendency estimator, like a moving average, and from a volatility estimator like standard deviation, atr...etc.
This is why i propose this utility that allow you to make bands and trailing stops from any indicator in the price chart.
How To Use
All you have to do is select the indicator you want to make bands from in the settings, so just open the Bands-Trailing Stop Utility indicator settings and select your indicator in "Source". Make sure your source indicator is not in "hide" mode.
For example here i'am using a moving average as source for the indicator. Mult control how spread the bands are from each others, by default mult = 1, if we use mult = 2 we get :
Mult can be non-integer as well as lower than 1 (when lower than 1 the bands would be closer to each others)
Error/Volatility Estimators
You can choose from a wide variety of volatility estimators, select the estimator from the "Method" scrolling parameter in settings, by default the indicator will use the running mean absolute error (MAE) which don't use length. Other estimators use length, making length = to the period of the source indicator can help get better results.
The root moving averaged squared error (RMASE) is just the square root of the simple moving average of the squared difference between the closing price and the source indicator. length control the period of the moving average of RMASE.
You can also use the average true range with period length. It might work better with low lagging moving averages.
The range is simply the difference between the highest and lowest over length periods of the source indicator.
Stdev is simply the price running standard deviation.
Trailing Stop
When the trailing stop mode is checked the bands will be replaced by a trailing stop, the trailing stop will still depend on every settings of the indicator like mult/volatility estimator...etc.
Conclusion
You might find an use to this tool if you want to make bands/trailing stops from pretty much everything. The indicator used as source for the examples is a smooth exponential averager that i could share if i see interest from peoples.
Thanks for reading !
