Downloading...
Download

Pine

Debugging Pine Script with log.info()log.info() is one of the most powerful tools in Pine Script that no one knows about. Whenever you code, you want to be able to debug, or find out why something isn’t working. The log.info() command will help you do that. Without it, creating more complex Pine Scripts becomes exponentially more difficult. The first thing to note is that log.info() only displays strings. So, if you have a variable that is not a string, you must turn it into a string in order for log.info() to work. The way you do that is with the str.tostring() command. And remember, it's all lower case! You can throw in any numeric value (float, int, timestamp) into str.string() and it should work. Next, in order to make your output intelligible, you may want to identify whatever value you are logging. For example, if an RSI value is 50, you don’t want a bunch of lines that just say “50”. You may want it to say “RSI = 50”. To do that, you’ll have to use the concatenation operator. For example, if you have a variable called “rsi”, and its value is 50, then you would use the “+” concatenation symbol. EXAMPLE 1 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ //@version=6 indicator("log.info()") rsi = ta.rsi(close,14) log.info(“RSI= ” + str.tostring(rsi)) Example Output =>  RSI= 50 Here, we use double quotes to create a string that contains the name of the variable, in this case “RSI = “, then we concatenate it with a stringified version of the variable, rsi. Now that you know how to write a log, where do you view them? There isn’t a lot of documentation on it, and the link is not conveniently located.  Open up the “Pine Editor” tab at the bottom of any chart view, and you’ll see a “3 dot” button at the top right of the pane. Click that, and right above the “Help” menu item you’ll see “Pine logs”. Clicking that will open  that to open a pane on the right of your browser - replacing whatever was in the right pane area before. This is where your log output will show up.  But, because you’re dealing with time series data, using the log.info() command without some type of condition will give you a fast moving stream of numbers that will be difficult to interpret. So, you may only want the output to show up once per bar, or only under specific conditions.  To have the output show up only after all computations have completed, you’ll need to use the barState.islast command. Remember, barState is camelCase, but islast is not! EXAMPLE 2 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ //@version=6 indicator("log.info()") rsi = ta.rsi(close,14) if barState.islast  log.info("RSI=" + str.tostring(rsi)) plot(rsi) However, this can be less than ideal, because you may want the value of the rsi variable on a particular bar, at a particular time, or under a specific chart condition. Let’s hit these one at a time. In each of these cases, the built-in bar_index variable will come in handy. When debugging, I typically like to assign a variable “bix” to represent bar_index, and include it in the output. So, if I want to see the rsi value when RSI crosses above 0.5, then I would have something like: EXAMPLE 3 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ //@version=6 indicator("log.info()") rsi = ta.rsi(close,14) bix = bar_index rsiCrossedOver = ta.crossover(rsi,0.5) if rsiCrossedOver log.info("bix=" + str.tostring(bix) + " - RSI=" + str.tostring(rsi)) plot(rsi) Example Output =>  bix=19964 - RSI=51.8449459867 bix=19972 - RSI=50.0975830828 bix=19983 - RSI=53.3529808079 bix=19985 - RSI=53.1595745146 bix=19999 - RSI=66.6466337654 bix=20001 - RSI=52.2191767466 Here, we see that the output only appears when the condition is met. A useful thing to know is that if you want to limit the number of decimal places, then you would use the command str.tostring(rsi,”#.##”), which tells the interpreter that the format of the number should only be 2 decimal places. Or you could round the rsi variable with a command like rsi2 = math.round(rsi*100)/100 . In either case you’re output would look like: bix=19964 - RSI=51.84 bix=19972 - RSI=50.1 bix=19983 - RSI=53.35 bix=19985 - RSI=53.16 bix=19999 - RSI=66.65 bix=20001 - RSI=52.22 This would decrease the amount of memory that’s being used to display your variable’s values, which can become a limitation for the log.info() command. It only allows 4096 characters per line, so when you get to trying to output arrays (which is another cool feature), you’ll have to keep that in mind. Another thing to note is that log output is always preceded by a timestamp, but for the sake of brevity, I’m not including those in the output examples. If you wanted to only output a value after the chart was fully loaded, that’s when barState.islast command comes in. Under this condition, only one line of output is created per tick update — AFTER the chart has finished loading. For example, if you only want to see what the the current bar_index and rsi values are, without filling up your log window with everything that happens before, then you could use the following code: EXAMPLE 4 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ //@version=6 indicator("log.info()") rsi = ta.rsi(close,14) bix = bar_index if barstate.islast log.info("bix=" + str.tostring(bix) + " - RSI=" + str.tostring(rsi)) Example Output => bix=20203 - RSI=53.1103309071 This value would keep updating after every new bar tick. The log.info() command is a huge help in creating new scripts, however, it does have its limitations. As mentioned earlier, only 4096 characters are allowed per line. So, although you can use log.info() to output arrays, you have to be aware of how many characters that array will use. The following code DOES NOT WORK! And, the only way you can find out why will be the red exclamation point next to the name of the indicator. That, and nothing will show up on the chart, or in the logs. // CODE DOESN’T WORK //@version=6 indicator("MW - log.info()") var array rsi_arr = array.new() rsi = ta.rsi(close,14) bix = bar_index rsiCrossedOver = ta.crossover(rsi,50)  if rsiCrossedOver     array.push(rsi_arr, rsi) if barstate.islast     log.info("rsi_arr:" + str.tostring(rsi_arr))     log.info("bix=" + str.tostring(bix) + " - RSI=" + str.tostring(rsi)) plot(rsi) // No code errors, but will not compile because too much is being written to the logs. However, after putting some time restrictions in with the i_startTime and i_endTime user input variables, and creating a dateFilter variable to use in the conditions, I can limit the size of the final array. So, the following code does work. EXAMPLE 5 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ // CODE DOES WORK //@version=6 indicator("MW - log.info()") i_startTime         = input.time(title="Start", defval=timestamp("01 Jan 2025 13:30 +0000")) i_endTime           = input.time(title="End", defval=timestamp("1 Jan 2099 19:30 +0000")) var array rsi_arr = array.new() dateFilter = time >= i_startTime and time <= i_endTime  rsi = ta.rsi(close,14) bix = bar_index rsiCrossedOver = ta.crossover(rsi,50) and dateFilter // <== The dateFilter condition keeps the array from getting too big if rsiCrossedOver     array.push(rsi_arr, rsi) if barstate.islast     log.info("rsi_arr:" + str.tostring(rsi_arr))     log.info("bix=" + str.tostring(bix) + " - RSI=" + str.tostring(rsi)) plot(rsi) Example Output => rsi_arr: bix=20210 - RSI=56.9030578034 Of course, if you restrict the decimal places by using the rounding the rsi value with something like rsiRounded = math.round(rsi * 100) / 100 , then you can further reduce the size of your array. In this case the output may look something like: Example Output => rsi_arr: bix=20210 - RSI=55.6947486019 This will give your code a little breathing room. In a nutshell, I was coding for over a year trying to debug by pushing output to labels, tables, and using libraries that cluttered up my code. Once I was able to debug with log.info() it was a game changer. I was able to start building much more advanced scripts. Hopefully, this will help you on your journey as well.
AMEX:SPYEducation
by mwrightinc
5
New Pine Updates - Line.get_price(), label styles and much moreHello, This video idea covers some of the big updates added to Pine and TradingView over the last several days. Most importantly, I show you how to use the following new features: - line.get_price() - a function used to get the price of a line object on the chart at a specific bar value - label styles - how to use the new styles added into Pine for your labels I also discuss some other new features such as: - label tooltips - the addition of Candlestick patterns as built-in indicators on the platform - syminfo.basecurrency - timezone parameter when getting a bar's time Thank you!
BNC:BLXEducation
by BigBitsIO
2
Tips And Tricks In PinescriptConclusion I’am starting with the conclusion since i don’t plan to be on tradingview for some time. Pinescript is a really easy to use and learn language and i had a lot of fun writing all my indicators, i remember the first time i used it, it was a really nice day and i opened the script editor to edit the awesome oscillator indicator, i changed the sma to an ema, how cute, changing a letter, i was 16. However we made a lot of progress in three years, i have often heard that i was a prolific, creative and talented indicator maker, and since my only goal in tradingview was to share and help people, i will leave all the tips and tricks related to pinescript i have to help you make great indicators. Show the code When publishing you can hide the code of your indicator, my first tips is to always show the code of your indicator/strategy except if you have a really good reason to hide it. Showing your code can help other people spot errors thus making you improve. If you think that your code is the holy grail and this is why you have to hide it i must tell you that there are a lot of researchers publishing papers that you can read about machine learning and other mega complex stuff applied to financial markets. At the end sharing is caring so share everything from your indicator ! Structure Your Code Its common to make an indicator, save it, and start a new project from scratch, then if you come back to the saved indicator you can get lost, this happened with me several times. First create sections in your code, then delimit each section with a commentary, commentaries can be made in pine with //, i personally use //---- but you can use whatever you want like //ma section or //plots etc. The name of your variables can also be important, i’am conformable with an alphabet like variable declaration. Therefore you could structure you code like this : study(…..) length = input(14) //---- a = … b = … c = … //---- plot(…) So try to find a structure style such that you will be confortable with :) Making Different Types Of Filters in Pine There are different types of filters, i explain each ones in my post Digital Filters And DSP . Here is the code to compute all common types of filters : low-pass (lp) = lp(x) high-pass (hp) = x - lp(x) bandpass (bp) = lp(x - lp(x)) band-reject (br) = x - lp(x - lp(x)) with a simple moving average this give you : low-pass moving average = sma(close, length) high-pass moving average = x - sma(x, length) bandpass moving average = sma(x - sma(x,length),length) bandreject moving average = x - sma(x - sma(x,length),length) This is a easy way to compute each filters types. You can use other filters types instead of the simple moving average. Understand The Exponential Window Function The exponential window function is my favorite equation and in my opinion one of the most elegant thing i had the chance to use. This window function is widely used and have the following form : alpha*x + (1-alpha)*y or y + alpha*(x - y) alpha is called a smoothing constant, when a = 0.5 you are just computing the average between x and y because a = 0.5 and 1 - a = 0.5, therefore you end up with : 0.5*x + 0.5*y = (x + y)/2. But the beauty of this function is that as long as a is greater than 0 and lower than 1 you will give more weight to x or y depending of a. There are a lot of indicators using this, the most well known being the exponential moving average. Rescaling Inputs in A Certain Range Scaling involve putting the input in a certain range such that the output is always equal or lower than a certain value and always equal or higher than another value, there are several ways to rescale values in a certain range, here are some ways to rescale values in Pine : rsi(x, length) - rescale values in range of (100,0), higher length will converge the results toward 50, if you don’t want that use smooth values for x. stoch(x,x,x,length) - rescale values in range of (100,0) correlation(x,n,length) - rescale values in range of (1,-1) sign(x) - rescale values in a range of (1,-1), 1 when x > 0 and -1 when x < 0. x/highest(x,length) - values will always be equal or greater than 0 and equal or lower than 1, when x is high the output will be closer to 1. lowest(x,length)/x - values will always be equal or greater than 0 and equal or lower than 1, when x is low the output will be closer to 1. a = change(src,length) b = abs(a)/highest(abs(a),length) * sign(a) - rescale values in a range of (1,-1) a/(a + b) - rescale values in a range of (1,0) if a > 0 or (1,-1) if a < 0 as long as a < (a + b) (x - b)/(a - b) - rescale in a range of (1,0) if x > b and a > x. see also : Use operations to scale in a desired range, when the rescaling is in a range (1,-1) use the following operations : 0.5 * rescaling + 0.5 if you want to rescale in a range of (1 + rescaling) * (maximum/2) if you need a custom range Use Recursion With The Exponential Window Function Recursion is the process of using outputs as inputs for a function. Pine allow you to use outputs as inputs thanks to the nz() function. Lets use an example, imagine the following code with the version 2 of pinescript : a = change(nz(a ,close),9) This code compute the difference between a and a 9 bars back, now when the code will make the first calculation you want a numerical value for a because a will be equal to na (non attributed), this is why you need to have an initial value (also called a seed) for a and this is what nz() do , attribute a value to a when a = na. By running the code above you will end up with a periodic results, so how can you use recursion with your indicators ? Here the following code example show you how : alpha = 0.5 a = scale(close, length) b = function(alpha*a+(1-alpha)*nz(b ,a)) When you want to use recursion in a function you must first declare alpha, alpha can be any value as long as alpha is greater than 0 and lower than 1, then you must scale your input (here the closing price), this is done because depending on the price scale you could get different results when using recursion, when your rescaling range is low (1,0) your results could be more periodic than in a range like (100,0). function is the function you want to use, if you rescaled the input you should use a function that don’t plot in the chart, if your function is a simple moving average sma or another filter you won’t need to scale the input, however if you use function such as change, rsi, stochastic…or any other oscillator you will need to rescale the values in a certain range. Recursion can help you get smooth, predictive, periodic and reactive results. If you need adaptive results you can even make alpha a variable by rescaling something you want in a range of (1,0), for example : alpha = scale(tr,length) a = scale(close) b = function(alpha*a+(1-alpha)*nz(b ,a)) Create Adaptive Exponential Filters Easily Adaptive moving averages are greats because market exhibit a dynamical behavior, so adaptivity is a good way to have really great filters. An easy way to have adaptive filters is by using exponential averaging, in short using the structure of an exponential moving average, the ema of x is calculated as follow in pine : y = alpha*x + (1-alpha)*nz(y ,x) which can derived to : y = nz(y ,x) + alpha*(x - nz(y ,x)) where alpha = 2/(length + 1) As you can see we go back to the exponential window function and thanks to this function the ema is really efficient to compute. An adaptive filter will use a variable alpha instead of a constant one, so as long as 1 >= alpha >= 0 you will get an adaptive filter. If you want to adapt the filter to market volatility just rescale a volatility indicator like the atr in a range of (1,0), in pine this would look like : alpha = scale(tr,length) y = alpha*close + (1-alpha)*nz(y ,close) If you need alpha to decrease when length increase you can divide your rescaling by length, for example if you use the stochastic of the true range as alpha you can make : alpha = stoch(tr,tr,tr,length)/100 / sqrt(length) y = alpha*close + (1-alpha)*nz(y ,close) Create An Adaptive Simple Moving Average In pine you can compute a simple moving average by using the sma() function : sma = sma(x,length) now imagine you want to use a non constant length, like for example the barssince() function, well you can’t because the sms function only work with constant integers, so how can you use non constant integers for calculating an adaptive sma ? Well you can derive the sma formula like this : length = barssince(cross(close,vwap)) + 1 rsum = cum(close) asma = (rsum - rsum )/length Make sure that length is always greater or equal to 1, if length is a float use the round() function : length = round(barssince(cross(close,vwap)) + 1) Use Fixnan For Colors When plotting an indicator with a plot fonction using a condition to change colors, you will have a different color if the indicator value is equal to its previous value, this image describe this case : with : a = highest(50) c = if a > a lime else if a < a red plot(a,color=c) Instead you can use a ternary operator and use fixnan to fix this issue, the plot code look like this : plot(a,color=fixnan(a>a ?lime:a 4000 ? 1 : 0 b = sma(a,length) plot(a),plot(b) The time it takes to the filter to get to the maximum value of the step function will tell you about its reactivity while seeing if the filter exceed the maximum value of the step function will tell you about its overshoot response, after an overshoot the filter can also go back under the step function, this is an undershoot, there are also tons of other things about the step response like ringing, but some only happen with recursive filter like the ema. In order to check for smoothness against another filter you can use this code : a = abs(change(filter1)) b = abs(change(filter2)) If you see that filter 1 have overall greater values than filter 2 it means that filter 1 smooth less. Estimate A Gaussian Filter You don’t really need fancy math’s to make a gaussian filter, the central limit theorem will help you estimate it just fine. A gaussian filter is a filter which impulse response is a gaussian function (bell shaped curve), a gaussian filter can be approximated with this code : a = sma(sma(sma(sma(close,length/4),length/4),length/4),length/4) In short the more sma function you add the better the estimation. Some Other Tips You can declare a float by using 0. instead 0.0 You can find the average highest frequency of a signal a with : b = a > a and a < a or a < a and a > a ? 1 : 0 c = 1/(cum(b)/n) * 2 Learn all the shortcuts, some in mac : cmd + enter = add to chart cmd + i = new script cmd + click on a function = display the reference manual of the function Double click on one indicator line will display its settings window. Know some maths, its not a requisite but it sure help. And finally work and share with a group, its not something that i did but the truth is that it help a lot. Final Words I can’t cite all the person i want to thanks, there are to many, but without support its hard to improve, so thank you all. If this article helped you in any way then i’am more than satisfied. Oh and if you want to thanks and support me for all those years just use, change, improve and learn from my indicators as well as sharing your work or knowledge and have a lot of fun, that’s all i want. Lets conclude this adventure with the memorable thanks for reading !
Education
by alexgrover
12
Week in Review: All of Old. Nothing Else Ever. Except Sometimes.First Off If you enjoy these weekly publications and would like to keep up-to-date with the latest and greatest scripts, share this article and follow me on TradingView. No Turning Back Now Last week the TradingView community made an effort to publish some high-quality, open-source studies and strategies for everyone to benefit from, which in turn required from me a better quality articles on the week. This seemed to be a popular decision and (hopefully) better sponsors the script that I discuss. This week I’ll try to do more of the same, but in order to improve I’ll need some input from the readers. So please, if you have any suggestions on how to improve these articles, don’t be afraid to express them either in the comments or via a direct message. In this Week’s Charts Let’s first mention MichelT’s “Average True Range in pine”. Although the function for the atr() is already available in Pine, it’s handy to understand the math behind the function should you need to circumvent some error messages that TradingView is giving you when using the built-in atr(), or if you wish to modify the formula to fit another purpose. Speaking of changes to fit another purpose, jaggedsoft’s “RSX Divergence - Shark CIA” takes everget’s “Jurik RSX” and modifies it to include divergences, the code of which was snipped from Libertus’s “Relative Strength Index - Divergences - Libertus”. This implementation calmly spots meaningful anomalies between price action and the oscillator in question. everget himself was relatively prolific this week, doing what he does best and adding to the open-source repository of moving averages available on TradingView (a repository that he’s had a heavy hand in establishing). This week he’s gifted us the “McNicholl Moving Average”, developed by Dennis McNicholl, as well as the “Quadruple Exponential Moving Average” and the “Pentuple Exponential Moving Average”, both developed by Bruno Nio. It’s great to see him publishing open-source work again and hopefully this continues into the future. And Left Out of Last Week’s Charts Last week was probably a more appropriate time to include them, but, alas, I had a (major) oversight. So allow me to give a quick introduction to puppytherapy through the two scripts published in the last week, “APEX - ADX/ADXR/DI+/DI- ” and “APEX - Moving Averages ”. Both are insightful compositions on how to get the most from simple indicators. I look forward to seeing more of his work (and I’ll try, in future, not to disclude good work like what he put out last week) Milk it for What it’s Worth I mean, who doesn’t enjoy seeing people apply simple methods to maximum effectiveness? Much like puppytherapy , nickbarcomb’s (a joke some of my Northern Irish friends would appreciate) “Market Shift Indicator” could be a lesson to a lot of us on how to get more from our moving averages and I’ll certainly be applying some of his concepts to develop prototypical signal systems with moving averages in the future. Someone who’s concepts I’ve borrowed from before with great success is shtcoinr , a user who, along with many others, has appeared regularly in this series. A master of compiling simple and effective S/R indicators (something that was a bit of a mystery to the TradingView community for a while), shtcoinr has done it again with his “Volume Based S/R”, a S/R indicator that paints boxes according to volume activity, and “Grimes Modified MACD Supply Demand”, a modification of his “RSI-Based Automatic Supply and Demand”. shtcoinr has hopefully exhibited to the TradingView community that one can derive S/R areas with almost anything. Another regular who’s recently released a few scripts that render S/R is RafaelZioni . This week he published his “Hull channel”, which is a creative use of the Hull MA and ATR. Like many of his past scripts, there’s a trove of helpful information buried deep in the code of his work, so don’t hesitate to get your fingers dirty. You’ll likely learn some very helpful things. Nice to Meet You Let’s go over some new faces this week, many of whom have brought something genuinely new to the TradingView community. When I say new faces, I mean new to the series of articles, as many of you are likely very familiar with the psychedelic and, at times, enigmatic work of simpelyfe . This week he released two highly creative, open-source scripts that can have a number of applications; his “Randomization Algorithm ” (which returns a number between 1 - 10 and is a nice alternative to RicardoSantos’s “Function Pseudo Random Generator”) and his “Pivots High/Low ” (with a bit of tinkering this might have an application in automatically painting trendlines). It’s great to see how he does some of his wonderful work and I’ll definitely be following him closely in the future with the hopes of improving my own work. westikon’s “Time Volume Accum” is (as far as I know) another new indicator to the TradingView community. Unfortunately the very short description is in Russian (I think) and I’m not too sure in what capacity this is supposed to be used, but I’m always looking to get new perspectives on volume and I’ll be studying this idea to do just that. RyanPhang , also partial to speaking a language I don’t understand, has created , which roughly translates to “Volume drives ups and downs”. Again, not too sure what ideas or systems this pertains to, but (for me anyway) it’s, again, a new way of looking at something old. Another volume indicator with the bunch is “Better X-Trend / Volume”, published by rimko . This is an iteration of emini-watch’s Better Volume indicator, which is available for purchase through his website. Due to the fact the TradingView doesn’t allow one to glean tick volume, this is as much fidelity rimko can show to the original as possible. Hopefully this will change in the future. mwlang published “John Ehlers Universal Oscillator ” this week. The purpose of this release was to fix “a degrees to radians bug in LazyBear’s version” of the indicator, something I’m sure Ehlers’ fans will be thankful for. Call Security One of the benefits of using TradingView is having access to a wealth of data, but being allowed access to it is not the same as knowing how to get access to it, and even further from getting the most out of it. kishin’s “Mining Cash Flow Line” takes data from Quandl, does some mathemagic and spits out the price that it costs to mine Bitcoin. Knowing how to utilise this kind of data in the future will likely help to seperate the men from the boys, so it’s important we come to understand and learn how to apply it as a community in order to keep our head above water. kishin’s script leads the open-source foray into this unchartered TradingView territory. Another user that’s made some great use out of Quandl data is deckchairtrader . This week they published “Deckchair Trader COT Index”, “Deckchair Trader COT MACD” and “Deckchair Trader COT Open Interest”. As it was in the paragraph above, this isn’t simply a matter of relaying the raw data from Quandl, but requires running it through a couple functions to get the final result. This is also one of the few scripts that performs fundamental analysis on TradingView. Do you know what the maximum amount of securities you can call is? It’s 40. Just ask danarm , who’s “Aggregate RSI”, “TDI on Top 40 Coins” and “Top 5 coins cummulated Upvol/Dnvol and Money Flow” (r/increasinglyverbose) call on many securities. Each one can give good insight into the market breadth of any give move and each one invites the user to consider ways they might use the security() function. At It Again No doubt you know who I’ll be focusing on this week and regular readers are probably wondering, “where is he?”. But before I start (it’s dasanc by the way), let me say this: since the start of this month to the date-of-writing (27/02/2019) dasanc has published 20 open-source indicators, with (as far as I can count) fifteen of them being completely unique. Most of them are the work of the highly-renowned technical analyst John Ehlers, someone who many, if not all, algo traders are aware of. With four new open-source scripts under his belt from the past week, two of them unique, I feel justified in more thoroughly looking at dasanc’s work. First off we’ll look at the “Bitcoin Liquid Index”. This is a script calling from the tickers that compose the BNC Index. If you’re a TradingView user that doesn’t have a PRO account, but that does want a “fair” price for BTC, this script can help you achieve exactly that. They’re not the exact same, but they’re very close (as the below screenshot shows). The “Stochastic Center of Gravity” is dasanc’s stochastic translation of of Ehlers CG indicator. On the page for the indicator he’s provided a link to the paper that discusses it. As dasanc mentions, it’s reliability as a trading indicator is a kind of questionable that TradingView’s backtester doesn’t have the resources to answer. It doesn’t fit BTC on the daily, as you can see below (green line = buy, red line = sell). “Fisher Stochastic Center of Gravity” simply runs the “Stochastic Center of Gravity” through a fisher transform, the result of which are smooth, filtered signals.. (As a sidenote, transforming data through a fisher transform, or some other transform, is applicable to many different indicators.) To use the “Fisher Stochastic Center of Gravity” dasanc suggests first defining the direction of the trend. How do we do that? Luckily he’s provided an open-source method for us to do that called the “Instantaneous Trend”. (By the way, if someone says iTrend to you, they’re not talking about trading software released by Apple, they’re talking about the Instantaneous Trend by John Ehlers). The iTrend is a “low-lag trend follower for higher timeframes”. Want to learn? If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: docs.google.com The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources. Suggestions or Questions? Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open. Profile’s of Mentioned MichelT: www.tradingview.com Libertus: www.tradingview.com jaggedsoft: www.tradingview.com everget: www.tradingview.com puppytherapy: www.tradingview.com nickbarcomb: www.tradingview.com shtcoinr: www.tradingview.com RafaelZioni: www.tradingview.com simpelyfe: www.tradingview.com RicardoSantos: www.tradingview.com westikon: www.tradingview.com RyanPhang: www.tradingview.com rimko: www.tradingview.com kishin: www.tradingview.com deckchairtrader: www.tradingview.com danarm: www.tradingview.com mwlang: www.tradingview.com LazyBear: www.tradingview.com dasanc: www.tradingview.com
NASDAQ:AAPLEducation
by chrysopoetics
6
Week in Review: Chipper CodersFirst Off If you enjoy these weekly publications and would like to keep up-to-date with the latest and greatest scripts, share this article and follow me on TradingView. *sigh* The TradingView community has been, unfortunately for me, very busy this week publishing useful indicators. Due to this, it wouldn’t be right to just glaze over everyone, so this week will be a little extended, taking a slightly deeper look at some of the work published and by who it’s published. I’ll still focus in on the coder that has, in my opinion, done the highest quality work. That aside, there’s no order. Water, Water, All Around... Someone (or some people) that’s no stranger to TradingView is BacktestRookies , who’s articles on their website have helped many budding Pine scripters. This week they published an indicator called “Volume Profile:Intra-bar Volume”. Through a function to loop, it looks at the close of lower timeframes and stores the volume as buying volume if the lower timeframe candle closed up, or selling volume if it closed down. This is as close as we can get to identifying volume flow imbalances without order flow data, but it’s not quite there (through no fault of its own). One issue I noticed was that during the current chart’s period the volume bars will stop updating volume and will only render it properly when current chart’s period finishes. This makes it difficult to use it within a trading system (as far as I can see) Sticking with volume, mjslabosz has created “Volume+ (RVOL/Alerts)”, which is a relative volume indicator. Relatively simple, but highly applicable in volume studies. mjslabosz has also allowed the user to select what criteria needs to be met for the volume bars to be highlighted. No doubt this will be a useful addition to many people’s ideas. Spiralman666’s “ETH HawkEye Aggregated Volume Indicator” takes NeoButane’s “Aggregated ETH Exchange Volume” and combines it with LazyBear’s “HawkEye Volume Clone Indicator”. This will give you an in-depth yet holistic overview of Ethereum’s volume. The concept can be extrapolated to other assets for volume analysis strategies. … And Not A Drop To Drink One issue I have with many reversal identification scripts is that they identify the conditions for a reversal as an instance as opposed to a zone or area. LonesomeTheBlues “Divergences for many indicators V2.0” attempts to rectify this by plotting reversal conditions as a line from one point to another, thereby giving you a zone/area from within which to take reversal trades should other conditions be met. The user has the option to choose from a range of indicators with which to identify reversals. Lines In The Sky Another familiar face to TradingView, and someone who constantly brings something new to the community, is alexgrover . This week he published a “Light LSMA” script. Rather than try and rehash the brilliant explanation he gave on it’s construction, I encourage you to visit his profile and view the trove of high-quality work he’s provided. Peter_O’s “EMA NoHesi - cutting noise in EMA and any other data signals” (rolls of the tongue, eh?) is a function to remove noise from indicators that use lines, like MA’s, RSI, MACD etc. The function will guide the line in the same direction unless there is a significant change is the price. The script could be improved to automatically calculate the hesitation value based off what asset you’re trading, but that doesn’t take much away from it. The “Multi Timeframe Rolling BitMEX Liquidation Levels” by cubantobacco allows users to gain insight into where a lot of liquidation may lie for BitMEX and where price may have to go to keep cascading in that direction. Combining this with some kind of sentiment index for Bitcoin can give great insight into what levels will cause huge reactions. In general the TradingView community can’t seem to get enough of tools for trading on BitMEX, so I’m sure this will see use. Last of the lines, shtcoinr’s “The Center”, which was inspired by half a sentence from Adam H. Grimes, takes the high and low of the higher timeframe, divides it by half and then plots the halfway line. The result is a line that hints at the prevailing trend, can act as a momentum indication (by measuring the distance of the line from the price) and acts as a line of support and resistance. Busy Bees Two people were very active in producing high-quality work this week. The first I’ll mention is RafaelZioni (who’s been included in the previous two articles). He’s published five scripts this week, with one of them being a simple “5 min volume scalper” with alertconditions() that buy and sell based off volume activity. Another script with alertconditions() for buying and selling is his “Keltner Channel signals”, which is just an alteration of puppytherapys “Keltner Channel - APEX”. It also includes support and resistance levels. “linear regression new” and “BollingerRS” apply the same concept, with “linear regression new” being an attempt to render a linear regression channel (something that TradingView should really provide for us, along with the volume profile formula). Last but not least is RafaelZioni’s “Linear regression slope as SAR”, which is a creative alteration to the standard PSAR. The other busy bee this week was xkavalis , who published three interesting scripts. The first was “Dynamic Price Channels”, which divides the price action into equal channels. When I first seen it I thought that maybe it could be a component for a volume profile overlay (combined with some other features). The “Manual Backtest Lines” can be used within another indicator for replaying price action and results. (He’s actually looking for a fix for a couple of issues, so if you think you can help him out, shoot him a message). “ATR SL Visualization (on chart)” plots appropriate stoplosses and take-profits for each bar (should you enter a trade on that bar) automatically and is, yet again, another script that would be a useful component within a strategy. Expect More of the Same The user I’ll be focusing on this week is dasanc , someone who’s been focused on in the past. It’s difficult not to shine the spotlight on him when he’s pumping out truly empowering ideas. Last week dasanc published “Decent Martingale Strategy ”, which was inspired from a script with a similar name by RicardoSantos . Although it’s not ready for use in trading, it gives good insight into how to code strategies (although until TradingView’s backtester is suped up a little, backtesting doesn’t really mean anything in most cases, so don’t get too excited at those results) The “Signal to Noise Ratio [SNR}” by dasanc gives traders confidence that the signal being fired isn’t just a stray note in a noisy market, but a meaningful one. Keeping with Ehlers, dasanc has also published the “MESA Adaptive Moving Average”, which, rather than being a copy of the indicator, is, as dasanc puts it, a translation. His iteration seems to signal a period earlier than other versions without introducing any lag, due to how it’s calculated. Following from the “Interquartile IFM” and the “Cosine IFM”, we now have the last of Ehlers IFM bunch, the “Robust Cycle Measurement”. This is similar to it’s cousins in that it outputs an adaptive period, but the output of this script is usually higher than it’s two cousins. I’ll definitely be including it in some of my future creations. Last but certainly not least is dasanc’s “Multi-Instantaneous Frequency Measurement”, which is a script combining all three of the IFM’s that have been published, as well as the Hilbert Transform. Quick Mention I would just like to give nilux a shout-out for turning more than a handful of studies into their strategy counterparts. A lot of people seem to have trouble wielding the power of strategies and I’m sure many would learn something from studying his. Also, look at this almost-2000 line script that shtcoinr called “... longer than the bible”: Want to learn? If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: docs.google.com The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources. Suggestions or Questions? Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open. Profile’s of Mentioned Dasanc: www.tradingview.com RafaelZioni: www.tradingview.com xkavalis: www.tradingview.com nilux: www.tradingview.com Spriralman666: www.tradingview.com shtcoinr: www.tradingview.com BacktestRookies: www.tradingview.com alexgrover: www.tradingview.com Peter_O: www.tradingview.com TheViciousVB: www.tradingview.com cubantobacco: www.tradingview.com LonesomeTheBlue: www.tradingview.com mjslabosz: www.tradingview.com
BITFINEX:BTCUSDEducation
by chrysopoetics
8
Mission Statement for the "- in Review" seriesI'm not sure of the exact figures, but I think TradingView has about 7M+ users. That's 7M+ people working towards the same end. 7M+ people with insights and ideas. 7M+ people with access to an in-house programming language tailored for trading and technical analysis. Yet despite this there's only a small, mumbling community for discussing Pine, trading and how to bring them together. A few people have endeavored to change this and I'd like to play my part. So I'm going to begin publishing a series of articles through TradingView that will try to bring light to the secretly-active Pine community. The three titles I suggest will be: (1) "Week in Review", (2) "Coder in Review" and (3) "Script in Review". One of the reasons I want to do this is because I think it's incredibly difficult for new users to get recognition for their brilliant work due to the current TradingView search system being an echo-chamber. Those with the most followers get the most views and the most likes and then more followers and more views and... LazyBear, a cherished asset of the TradingView community, is all some people will know and search for. This can be disastrous for building a lasting community around Pine and for developing your own concepts around trading. So I want to give more exposure to those who publish now so that we can all have the opportunity to be involved in conceptual progress. Hopefully in due time TradingView will revamp their search engine. Most popular scripts of the week/month/year would be a start, but I'm sure more could be done. The articles written will never be defamatory or provocative. I don't want to rouse spirits, but focus minds. In that same vein, I will never shill someone's profile or scripts. All choices will be mine alone (unless I can poll effectively and transparently) and, as such, will have my biases (unless others join me in this effort) Week in Review Every Tuesday I'll pore through the scripts that have been published in the last week and select one for review, once it meets the minimum criteria. The criteria for being considered is: (A) for the script to be open-source and (B) not to be a direct copypasta-job from another coder. There's nothing wrong with using something not made by you to help you create something better though, but there has to be obvious improvements made from the original. The script reviewed is meant to be my pick-of-the-bunch, but that is by no means an ultimate opinion. Some qualities that I'll most likely be looking for are: (A) creativity and innovation; just do as Ezra Pound did and "Make it new!", (B) usefulness: it can either be useful in it's own right, or it can be useful when used as a component within another script; both will be considered, neither will be favored and (C) a decent description of what it's supposed to do or how it's supposed to be used. Clean charts are a plus too: you only need the indicator you're publishing on the chart most of the time. Aside from the script, there will be a brief mention of the programmer and their body of work. Coder in Review This is where I'll look over the portfolio of a user on TradingView and comment on their body of work, some of their best (my favorite) scripts and how they've helped the community to grow as a whole. The criteria for being considered are: (A) must have an account for over six months and (B) must have published at least ten scripts. These won't be published regularly (at least not at the start), so I'll just push them out when I get the itch. From referencing so much of RicardoSantos' work in my initial builds, I felt indebted enough that I wanted to write him an essay explaining my thanks. I've since had that feeling for a lot of programmers. Some qualities I'll be looking for will be: (A) breadth of analysis and (B) efficient code. Script in Review Some weeks we're going to have a handful of top-notch scripts, most which we don't want discluded from the narrative. So in order to accommodate for them there'll also be a "Script in Review" thread of articles. This will also give me the opportunity to discuss scripts that were published a long time ago. Criteria to be included will be the same as the "Week in Review" selection. Like the "Coder in Review", these won't be regularly publications for the time being, but may become so in the future. Disclaimer I'm going to talk about scripts and programmers that I like, but that is by no means an endorsement. If someone I talk about sells products or services, I do not want you to make a decision to engage with their products or services based on my opinions. I'm not selling anything or trying to get you to buy something. I just want to open up the discussion about Pine and bring together a community of like-minded people. Want to learn? If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: docs.google.com The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources. Suggestions or Questions? Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open.
FOREXCOM:EU50Education
by chrysopoetics
2
Pine Script, KDJ Indicator, FreeThis indicator was originally noted in the tradingview help forums. Noted from "Google's Finance Site," but they use a modified (using EMA instead of traditional SMA) slow stochastic with the %J equation (%J =3 * D – 2 * K ). I can't find any references to the origins of the %J equation, but it is noted in several other online sites. getsatisfaction.com So, I've taken the indicator and made some options, upgrades and published it for free!. The basic foundation of the code is still the %J equation. I've included an option to use either the EMA (default) and the SMA (more traditional slow stochastic). You can also adjust the lookback period, %D smoothing, and I've included the option to smooth the %J. This last option slows the indicator down a little, but really cuts out the choppiness of the %J crossings. Get the source here: pastebin.com Installation video by @ChrisMoody here : vimeopro.com
AMEX:SPY
by kocurekc
4
Pine Script - Relative Momentum IndicatorThis indicator was developed by Roger Altman and was introduced in the February 1993 issue of "Technical Analysis of Stocks & Commodities" magazine. The RSI was developed by J. Welles Wilder and is discussed in his book "New Concepts in Technical Trading". Get the source here: pastebin.com Installation video by @ChrisMoody here : vimeopro.com After I got done coding this, I saw that www.tradingview.com had already coded the same indicator. Small differences, but same indicator, just want to give credit to a line leader.
NYSE:IBM
by kocurekc
3