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ZigzagMethodsLibrary "ZigzagMethods" Object oriented implementation of Zigzag methods. Please refer to ZigzagTypes library for User defined types used in this library tostring(this, sortKeys, sortOrder, includeKeys)   Converts ZigzagTypes/Pivot object to string representation   Parameters:      this : ZigzagTypes/Pivot      sortKeys : If set to true, string output is sorted by keys.      sortOrder : Applicable only if sortKeys is set to true. Positive number will sort them in ascending order whreas negative numer will sort them in descending order. Passing 0 will not sort the keys      includeKeys : Array of string containing selective keys. Optional parmaeter. If not provided, all the keys are considered   Returns: string representation of ZigzagTypes/Pivot tostring(this, sortKeys, sortOrder, includeKeys)   Converts Array of Pivot objects to string representation   Parameters:      this : Pivot object array      sortKeys : If set to true, string output is sorted by keys.      sortOrder : Applicable only if sortKeys is set to true. Positive number will sort them in ascending order whreas negative numer will sort them in descending order. Passing 0 will not sort the keys      includeKeys : Array of string containing selective keys. Optional parmaeter. If not provided, all the keys are considered   Returns: string representation of Pivot object array tostring(this)   Converts ZigzagFlags object to string representation   Parameters:      this : ZigzagFlags object   Returns: string representation of ZigzagFlags tostring(this, sortKeys, sortOrder, includeKeys)   Converts ZigzagTypes/Zigzag object to string representation   Parameters:      this : ZigzagTypes/Zigzagobject      sortKeys : If set to true, string output is sorted by keys.      sortOrder : Applicable only if sortKeys is set to true. Positive number will sort them in ascending order whreas negative numer will sort them in descending order. Passing 0 will not sort the keys      includeKeys : Array of string containing selective keys. Optional parmaeter. If not provided, all the keys are considered   Returns: string representation of ZigzagTypes/Zigzag calculate(this, ohlc, indicators, indicatorNames)   Calculate zigzag based on input values and indicator values   Parameters:      this : Zigzag object      ohlc : Array containing OHLC values. Can also have custom values for which zigzag to be calculated      indicators : Array of indicator values      indicatorNames : Array of indicator names for which values are present. Size of indicators array should be equal to that of indicatorNames   Returns: current Zigzag object calculate(this)   Calculate zigzag based on properties embedded within Zigzag object   Parameters:      this : Zigzag object   Returns: current Zigzag object nextlevel(this)   Calculate Next Level Zigzag based on the current calculated zigzag object   Parameters:      this : Zigzag object   Returns: Next Level Zigzag object clear(this)   Clears zigzag drawings array   Parameters:      this : array   Returns: void drawfresh(this)   draws fresh zigzag based on properties embedded in ZigzagDrawing object   Parameters:      this : ZigzagDrawing object   Returns: ZigzagDrawing object drawcontinuous(this)   draws zigzag based on the zigzagmatrix input   Parameters:      this : ZigzagDrawing object   Returns:
Bibliothèque Pine Script®
par Trendoscope
21
ZigzagTypesLibrary "ZigzagTypes" Zigzag related user defined types. Depends on DrawingTypes library for basic types Indicator   Indicator is collection of indicator values applied on high, low and close   Fields:      indicatorHigh : Indicator Value applied on High      indicatorLow : Indicator Value applied on Low PivotCandle   PivotCandle represents data of the candle which forms either pivot High or pivot low or both   Fields:      _high : High price of candle forming the pivot      _low : Low price of candle forming the pivot      length : Pivot length      pHighBar : represents number of bar back the pivot High occurred.      pLowBar : represents number of bar back the pivot Low occurred.      pHigh : Pivot High Price      pLow : Pivot Low Price      indicators : Array of Indicators - allows to add multiple Pivot   Pivot refers to zigzag pivot. Each pivot can contain various data   Fields:      point : pivot point coordinates      dir : direction of the pivot. Valid values are 1, -1, 2, -2      level : is used for multi level zigzags. For single level, it will always be 0      ratio : Price Ratio based on previous two pivots      indicatorNames : Names of the indicators applied on zigzag      indicatorValues : Values of the indicators applied on zigzag      indicatorRatios : Ratios of the indicators applied on zigzag based on previous 2 pivots ZigzagFlags   Flags required for drawing zigzag. Only used internally in zigzag calculation. Should not set the values explicitly   Fields:      newPivot : true if the calculation resulted in new pivot      doublePivot : true if the calculation resulted in two pivots on same bar      updateLastPivot : true if new pivot calculated replaces the old one. Zigzag   Zigzag object which contains whole zigzag calculation parameters and pivots   Fields:      length : Zigzag length. Default value is 5      numberOfPivots : max number of pivots to hold in the calculation. Default value is 20      offset : Bar offset to be considered for calculation of zigzag. Default is 0 - which means calculation is done based on the latest bar.      level : Zigzag calculation level - used in multi level recursive zigzags      zigzagPivots : array which holds the last n pivots calculated.      flags : ZigzagFlags object which is required for continuous drawing of zigzag lines. ZigzagObject   Zigzag Drawing Object   Fields:      zigzagLine : Line joining two pivots      zigzagLabel : Label which can be used for drawing the values, ratios, directions etc. ZigzagProperties   Object which holds properties of zigzag drawing. To be used along with ZigzagDrawing   Fields:      lineColor : Zigzag line color. Default is color.blue      lineWidth : Zigzag line width. Default is 1      lineStyle : Zigzag line style. Default is line.style_solid.      showLabel : If set, the drawing will show labels on each pivot. Default is false      textColor : Text color of the labels. Only applicable if showLabel is set to true.      maxObjects : Max number of zigzag lines to display. Default is 300      xloc : Time/Bar reference to be used for zigzag drawing. Default is Time - xloc.bar_time. ZigzagDrawing   Object which holds complete zigzag drawing objects and properties.   Fields:      properties : ZigzagProperties object which is used for setting the display styles of zigzag      drawings : array which contains lines and labels of zigzag drawing.      zigzag : Zigzag object which holds the calculations.
Bibliothèque Pine Script®
par Trendoscope
7
DrawingMethodsLibrary "DrawingMethods" tostring(this, sortKeys, sortOrder, includeKeys)   Converts DrawingTypes/Point object to string representation   Parameters:      this : DrawingTypes/Point object      sortKeys : If set to true, string output is sorted by keys.      sortOrder : Applicable only if sortKeys is set to true. Positive number will sort them in ascending order whreas negative numer will sort them in descending order. Passing 0 will not sort the keys      includeKeys : Array of string containing selective keys. Optional parmaeter. If not provided, all the keys are considered   Returns: string representation of DrawingTypes/Point tostring(this, sortKeys, sortOrder, includeKeys)   Converts DrawingTypes/LineProperties object to string representation   Parameters:      this : DrawingTypes/LineProperties object      sortKeys : If set to true, string output is sorted by keys.      sortOrder : Applicable only if sortKeys is set to true. Positive number will sort them in ascending order whreas negative numer will sort them in descending order. Passing 0 will not sort the keys      includeKeys : Array of string containing selective keys. Optional parmaeter. If not provided, all the keys are considered   Returns: string representation of DrawingTypes/LineProperties tostring(this, sortKeys, sortOrder, includeKeys)   Converts DrawingTypes/Line object to string representation   Parameters:      this : DrawingTypes/Line object      sortKeys : If set to true, string output is sorted by keys.      sortOrder : Applicable only if sortKeys is set to true. Positive number will sort them in ascending order whreas negative numer will sort them in descending order. Passing 0 will not sort the keys      includeKeys : Array of string containing selective keys. Optional parmaeter. If not provided, all the keys are considered   Returns: string representation of DrawingTypes/Line tostring(this, sortKeys, sortOrder, includeKeys)   Converts DrawingTypes/LabelProperties object to string representation   Parameters:      this : DrawingTypes/LabelProperties object      sortKeys : If set to true, string output is sorted by keys.      sortOrder : Applicable only if sortKeys is set to true. Positive number will sort them in ascending order whreas negative numer will sort them in descending order. Passing 0 will not sort the keys      includeKeys : Array of string containing selective keys. Optional parmaeter. If not provided, all the keys are considered   Returns: string representation of DrawingTypes/LabelProperties tostring(this, sortKeys, sortOrder, includeKeys)   Converts DrawingTypes/Label object to string representation   Parameters:      this : DrawingTypes/Label object      sortKeys : If set to true, string output is sorted by keys.      sortOrder : Applicable only if sortKeys is set to true. Positive number will sort them in ascending order whreas negative numer will sort them in descending order. Passing 0 will not sort the keys      includeKeys : Array of string containing selective keys. Optional parmaeter. If not provided, all the keys are considered   Returns: string representation of DrawingTypes/Label tostring(this, sortKeys, sortOrder, includeKeys)   Converts DrawingTypes/Linefill object to string representation   Parameters:      this : DrawingTypes/Linefill object      sortKeys : If set to true, string output is sorted by keys.      sortOrder : Applicable only if sortKeys is set to true. Positive number will sort them in ascending order whreas negative numer will sort them in descending order. Passing 0 will not sort the keys      includeKeys : Array of string containing selective keys. Optional parmaeter. If not provided, all the keys are considered   Returns: string representation of DrawingTypes/Linefill tostring(this, sortKeys, sortOrder, includeKeys)   Converts DrawingTypes/BoxProperties object to string representation   Parameters:      this : DrawingTypes/BoxProperties object      sortKeys : If set to true, string output is sorted by keys.      sortOrder : Applicable only if sortKeys is set to true. Positive number will sort them in ascending order whreas negative numer will sort them in descending order. Passing 0 will not sort the keys      includeKeys : Array of string containing selective keys. Optional parmaeter. If not provided, all the keys are considered   Returns: string representation of DrawingTypes/BoxProperties tostring(this, sortKeys, sortOrder, includeKeys)   Converts DrawingTypes/BoxText object to string representation   Parameters:      this : DrawingTypes/BoxText object      sortKeys : If set to true, string output is sorted by keys.      sortOrder : Applicable only if sortKeys is set to true. Positive number will sort them in ascending order whreas negative numer will sort them in descending order. Passing 0 will not sort the keys      includeKeys : Array of string containing selective keys. Optional parmaeter. If not provided, all the keys are considered   Returns: string representation of DrawingTypes/BoxText tostring(this, sortKeys, sortOrder, includeKeys)   Converts DrawingTypes/Box object to string representation   Parameters:      this : DrawingTypes/Box object      sortKeys : If set to true, string output is sorted by keys.      sortOrder : Applicable only if sortKeys is set to true. Positive number will sort them in ascending order whreas negative numer will sort them in descending order. Passing 0 will not sort the keys      includeKeys : Array of string containing selective keys. Optional parmaeter. If not provided, all the keys are considered   Returns: string representation of DrawingTypes/Box delete(this)   Deletes line from DrawingTypes/Line object   Parameters:      this : DrawingTypes/Line object   Returns: Line object deleted delete(this)   Deletes label from DrawingTypes/Label object   Parameters:      this : DrawingTypes/Label object   Returns: Label object deleted delete(this)   Deletes Linefill from DrawingTypes/Linefill object   Parameters:      this : DrawingTypes/Linefill object   Returns: Linefill object deleted delete(this)   Deletes box from DrawingTypes/Box object   Parameters:      this : DrawingTypes/Box object   Returns: DrawingTypes/Box object deleted delete(this)   Deletes lines from array of DrawingTypes/Line objects   Parameters:      this : Array of DrawingTypes/Line objects   Returns: Array of DrawingTypes/Line objects delete(this)   Deletes labels from array of DrawingTypes/Label objects   Parameters:      this : Array of DrawingTypes/Label objects   Returns: Array of DrawingTypes/Label objects delete(this)   Deletes linefill from array of DrawingTypes/Linefill objects   Parameters:      this : Array of DrawingTypes/Linefill objects   Returns: Array of DrawingTypes/Linefill objects delete(this)   Deletes boxes from array of DrawingTypes/Box objects   Parameters:      this : Array of DrawingTypes/Box objects   Returns: Array of DrawingTypes/Box objects clear(this)   clear items from array of DrawingTypes/Line while deleting underlying objects   Parameters:      this : array   Returns: void clear(this)   clear items from array of DrawingTypes/Label while deleting underlying objects   Parameters:      this : array   Returns: void clear(this)   clear items from array of DrawingTypes/Linefill while deleting underlying objects   Parameters:      this : array   Returns: void clear(this)   clear items from array of DrawingTypes/Box while deleting underlying objects   Parameters:      this : array   Returns: void draw(this)   Creates line from DrawingTypes/Line object   Parameters:      this : DrawingTypes/Line object   Returns: line created from DrawingTypes/Line object draw(this)   Creates lines from array of DrawingTypes/Line objects   Parameters:      this : Array of DrawingTypes/Line objects   Returns: Array of DrawingTypes/Line objects draw(this)   Creates label from DrawingTypes/Label object   Parameters:      this : DrawingTypes/Label object   Returns: label created from DrawingTypes/Label object draw(this)   Creates labels from array of DrawingTypes/Label objects   Parameters:      this : Array of DrawingTypes/Label objects   Returns: Array of DrawingTypes/Label objects draw(this)   Creates linefill object from DrawingTypes/Linefill   Parameters:      this : DrawingTypes/Linefill objects   Returns: linefill object created draw(this)   Creates linefill objects from array of DrawingTypes/Linefill objects   Parameters:      this : Array of DrawingTypes/Linefill objects   Returns: Array of DrawingTypes/Linefill used for creating linefills draw(this)   Creates box from DrawingTypes/Box object   Parameters:      this : DrawingTypes/Box object   Returns: box created from DrawingTypes/Box object draw(this)   Creates labels from array of DrawingTypes/Label objects   Parameters:      this : Array of DrawingTypes/Label objects   Returns: Array of DrawingTypes/Label objects createLabel(this, lblText, tooltip, properties)   Creates DrawingTypes/Label object from DrawingTypes/Point   Parameters:      this : DrawingTypes/Point object      lblText : Label text      tooltip : Tooltip text. Default is na      properties : DrawingTypes/LabelProperties object. Default is na - meaning default values are used.   Returns: DrawingTypes/Label object createLine(this, other, properties)   Creates DrawingTypes/Line object from one DrawingTypes/Point to other   Parameters:      this : First DrawingTypes/Point object      other : Second DrawingTypes/Point object      properties : DrawingTypes/LineProperties object. Default set to na - meaning default values are used.   Returns: DrawingTypes/Line object createLinefill(this, other, fillColor, transparency)   Creates DrawingTypes/Linefill object from DrawingTypes/Line object to other DrawingTypes/Line object   Parameters:      this : First DrawingTypes/Line object      other : Other DrawingTypes/Line object      fillColor : fill color of linefill. Default is color.blue      transparency : fill transparency for linefill. Default is 80   Returns: Array of DrawingTypes/Linefill object createBox(this, other, properties, textProperties)   Creates DrawingTypes/Box object from one DrawingTypes/Point to other   Parameters:      this : First DrawingTypes/Point object      other : Second DrawingTypes/Point object      properties : DrawingTypes/BoxProperties object. Default set to na - meaning default values are used.      textProperties : DrawingTypes/BoxText object. Default is na - meaning no text will be drawn   Returns: DrawingTypes/Box object createBox(this, properties, textProperties)   Creates DrawingTypes/Box object from DrawingTypes/Line as diagonal line   Parameters:      this : Diagonal DrawingTypes/PoLineint object      properties : DrawingTypes/BoxProperties object. Default set to na - meaning default values are used.      textProperties : DrawingTypes/BoxText object. Default is na - meaning no text will be drawn   Returns: DrawingTypes/Box object
Bibliothèque Pine Script®
par Trendoscope
2
DrawingTypesLibrary "DrawingTypes" User Defined Types for basic drawing structure. Other types and methods will be built on these. Point   Point refers to point on chart   Fields:      price : pivot price      bar : pivot bar      bartime : pivot bar time LineProperties   Properties of line object   Fields:      xloc : X Reference - can be either xloc.bar_index or xloc.bar_time. Default is xloc.bar_index      extend : Property which sets line to extend towards either right or left or both. Valid values are extend.right, extend.left, extend.both, extend.none. Default is extend.none      color : Line color      style : Line style, valid values are line.style_solid, line.style_dashed, line.style_dotted, line.style_arrow_left, line.style_arrow_right, line.style_arrow_both. Default is line.style_solid      width : Line width. Default is 1 Line   Line object created from points   Fields:      start : Starting point of the line      end : Ending point of the line      properties : LineProperties object which defines the style of line      object : Derived line object LabelProperties   Properties of label object   Fields:      xloc : X Reference - can be either xloc.bar_index or xloc.bar_time. Default is xloc.bar_index      yloc : Y reference - can be yloc.price, yloc.abovebar, yloc.belowbar. Default is yloc.price      color : Label fill color      style : Label style as defined in www.tradingview.com Default is label.style_none      textcolor : text color. Default is color.black      size : Label text size. Default is size.normal. Other values are size.auto, size.tiny, size.small, size.normal, size.large, size.huge      textalign : Label text alignment. Default if text.align_center. Other allowed values - text.align_right, text.align_left, text.align_top, text.align_bottom      text_font_family : The font family of the text. Default value is font.family_default. Other available option is font.family_monospace Label   Label object   Fields:      point : Point where label is drawn      lblText : label text      tooltip : Tooltip text. Default is na      properties : LabelProperties object      object : Pine label object Linefill   Linefill object   Fields:      line1 : First line to create linefill      line2 : Second line to create linefill      fillColor : Fill color      transparency : Fill transparency range from 0 to 100      object : linefill object created from wrapper BoxProperties   BoxProperties object   Fields:      border_color : Box border color. Default is color.blue      bgcolor : box background color      border_width : Box border width. Default is 1      border_style : Box border style. Default is line.style_solid      extend : Extend property of box. default is extend.none      xloc : defines if drawing needs to be done based on bar index or time. default is xloc.bar_index BoxText   Box Text properties.   Fields:      boxText : Text to be printed on the box      text_size : Text size. Default is size.auto      text_color : Box text color. Default is color.yellow.      text_halign : horizontal align style - default is text.align_center      text_valign : vertical align style - default is text.align_center      text_wrap : text wrap style - default is text.wrap_auto      text_font_family : Text font. Default is Box   Box object   Fields:      p1 : Diagonal point one      p2 : Diagonal point two      properties : Box properties      textProperties : Box text properties      object : Box object created
Bibliothèque Pine Script®
par Trendoscope
4
RSI Impact Heat Map [Trendoscope]Here is a simple tool to measure and display outcome of certain RSI event over heat map. 🎲 Process 🎯Event Event can be either Crossover or Crossunder of RSI on certain value. 🎯Measuring Impact Impact of the event after N number of bars is measured in terms of highest and lowest displacement from the last close price. Impact can be collected as either number of times of ATR or percentage of price. Impact for each trigger is recorded separately and stored in array of custom type. 🎯Plotting Heat Map Heat map is displayed using pine tables. Users can select heat map size - which can vary from 10 to 90. Selecting optimal size is important in order to get right interpretation of data. Having higher number of cells can give more granular data. But, chart may not fit into the window. Having lower size means, stats are combined together to get less granular data which may not give right picture of the results. Default value for size is 50 - meaning data is displayed in 51X51 cells. Range of the heat map is adjusted automatically based on min and max value of the displacement. In order to filter out or merge extreme values, range is calculated based on certain percentile of the values. This will avoid displaying lots of empty cells which can obscure the actual impact. 🎲 Settings Settings allow users to define their event, impact duration and reference, and few display related properties. The description of these parameters are as below: 🎲 Use Cases In this script, we have taken RSI as an example to measure impact. But, we can do this for any event. This can be price crossing over/under upper/lower bollinger bands, moving average crossovers or even complex entry or exit conditions. Overall, we can use this to plot and evaluate our trade criteria. 🎲 Interpretation Q1 - If more coloured dots appear on the top right corner of the table, then the event is considered to trigger high volatility and high risk environment. Q2 - If more coloured dots appear on the top left corner, then the events are considered to trigger bearish environment. Q3 - If more coloured dots appear on the bottom left corner of the chart, then the events are considered insignificant as they neither generate higher displacement in positive or negative side. You can further alter outlier percentage to reduce the bracket and hence have higher distribution move towards Q4 - If more coloured dots appear on the bottom right corner, then the events are considered to trigger bullish environment. Will also look forward to implement this as library so that any conditions or events can be plugged into it.
Indicateur Pine Script®
par Trendoscope
23
Bar MagnifierMany times while developing algos based on patterns and reversals, I come across issues which needs lower timeframe inspection. Loading multiple charts and comparing equivalent lower timeframe is slightly cumbersome at times. Hence, I thought of building this simple tool - which will instantly provide me lower timeframe candles for given candle. Since the candle selection happen via confirmed time input, we can use this as slider to move from one candle to other for inspection. 🎲 Usage 🎯Loading the script When you load the script, a prompt appears which asks you to select a time by clicking on the chart. Select the bar you want to magnify and study 🎯Components Once loaded, you can see the marker which tells which bar is magnified. And you can also see all the lower timeframe candles before that point. Please note that due to pine restrictions, we can only show last 250 lower timeframe bars. You can change the lower timeframe via settings to cover if the chart timeframe is very high. 🎯Moving to different bars Click on the middle of the marker, you will see slider which you can slide to move from one bar to other. Example, after sliding, you will see the lower timeframe data of new candle. 🎯Settings Settings has only two inputs. Bar time - selects the bar which needs to be inspected. Lower timeframe - Default is 1 min. And select a timeframe according to your chart timeframe. Less than 1 min is not supported by security.lower_tf function. Hence, will not work.
Indicateur Pine Script®
par Trendoscope
14
eHarmonicpatternsLogScaleLibrary "eHarmonicpatternsLogScale" Library provides functions to scan harmonic patterns both or normal and log scale getSupportedPatterns() get_prz_range(x, a, b, c, patternArray, errorPercent, start_adj, end_adj, logScale)   Provides PRZ range based on BCD and XAD ranges   Parameters:      x : X coordinate value      a : A coordinate value      b : B coordinate value      c : C coordinate value      patternArray : Pattern flags for which PRZ range needs to be calculated      errorPercent : Error threshold      start_adj : - Adjustments for entry levels      end_adj : - Adjustments for stop levels      logScale : - calculate on log scale. Default is false   Returns: Start and end of consolidated PRZ range get_prz_range_xad(x, a, b, c, patternArray, errorPercent, start_adj, end_adj, logScale)   Provides PRZ range based on XAD range only   Parameters:      x : X coordinate value      a : A coordinate value      b : B coordinate value      c : C coordinate value      patternArray : Pattern flags for which PRZ range needs to be calculated      errorPercent : Error threshold      start_adj : - Adjustments for entry levels      end_adj : - Adjustments for stop levels      logScale : - calculate on log scale. Default is false   Returns: Start and end of consolidated PRZ range get_projection_range(x, a, b, c, patternArray, errorPercent, start_adj, end_adj, logScale)   Provides Projection range based on BCD and XAD ranges   Parameters:      x : X coordinate value      a : A coordinate value      b : B coordinate value      c : C coordinate value      patternArray : Pattern flags for which PRZ range needs to be calculated      errorPercent : Error threshold      start_adj : - Adjustments for entry levels      end_adj : - Adjustments for stop levels      logScale : - calculate on log scale. Default is false   Returns: Array containing start and end ranges isHarmonicPattern(x, a, b, c, d, flags, defaultEnabled, errorPercent, logScale)   Checks for harmonic patterns   Parameters:      x : X coordinate value      a : A coordinate value      b : B coordinate value      c : C coordinate value      d : D coordinate value      flags : flags to check patterns. Send empty array to enable all      defaultEnabled      errorPercent : Error threshold      logScale : - calculate on log scale. Default is false   Returns: Array of boolean values which says whether valid pattern exist and array of corresponding pattern names isHarmonicProjection(x, a, b, c, flags, defaultEnabled, errorPercent, logScale)   Checks for harmonic pattern projection   Parameters:      x : X coordinate value      a : A coordinate value      b : B coordinate value      c : C coordinate value      flags : flags to check patterns. Send empty array to enable all      defaultEnabled      errorPercent : Error threshold      logScale : - calculate on log scale. Default is false   Returns: Array of boolean values which says whether valid pattern exist and array of corresponding pattern names.
Bibliothèque Pine Script®
par Trendoscope
1
Band-Zigzag - TrendFollower Strategy [Trendoscope]Strategy Time!!! Have built this on my earlier published indicator Band-Zigzag-Trend-Follower . This is just one possible implementation of strategy on Band-Based-Zigzag . 🎲 Notes Experimental prototype. Not financial advise and strategy not guaranteed to make money despite backtest results Not created or tested for any specific instrument or timeframe Test and adopt with own risk 🎲 Strategy This is trend following strategy built based on Bands and Zigzag. Traits of trend following strategies are Lower win rate (Yes, thats right) High risk reward (Compensates low win rate) Higher drawdown If market is choppy, trend following methods suffer. The script implements few points to overcome the negatives such as lower win rate and higher drawdown by actively assessing pivots on the direction of trend along. This helps us take regular profits and exit on time during the end of trend. Most of the other concepts are defined and explained in indicator - Band-Zigzag-Trend-Follower and Band-Based-Zigzag Defining a trend following method is simple. Basic rule of trend following is Buy High and Sell Low (Yes, you heard it right). To explain further - methodology involve finding an established trend which is flying high and join the trend with proper risk and optimal stop. Once you get into the trade, you will not exit unless there is change in the trend. Or in other words, the parameters which you used to define trend has reversed and the trend is not valid anymore. 🎯 Using bands When price breaks out of upper bands (example, Bollinger Band , Keltener Channel, or Donchian Channel), with a pre determined length and multiplier, we can consider the trend to be bullish and similarly when price breaks down the lower band, we can consider the trend to be bearish . 🎯 Using Pivots Simple logic using zigzag or pivot points is that when price starts making higher highs and higher lows, we can consider this as uptrend. And when price starts making lower highs and lower lows, we can consider this as downtrend. There are few supertrend implementations I have published in the past based on zigzags and pivot points . Drawbacks of both of these methods is that there will be too many fluctuations in both cases unless we increase the reference length. And if we increase the reference length, we will have higher drawdown. 🎯 Band Based Zigzag Method Here we use bands to define our pivot high and pivot low - this makes sure that we are identifying trend only on breakouts as pivots are only formed on breakouts Our method also includes pivot ratio to cross over 1.0 to be able to consider it as trend. This means, we are waiting for price also to make new high high or lower low before making the decision on trend. But, this helps us ignore smaller pivot movements due to the usage of bands. I have also implemented few tricks such as sticky bands (Bands will not contract unless there is breakout) and Adaptive Bands (Band will not expand unless price is moving in the direction of band). This makes the trend following method very robust. To avoid fakeouts, we also use percentB of high/low in comparison with price retracement to define breakout. 🎲 Settings Settings are fairly simpler and are explained as below. You will find most of the required information in tooltips.
Stratégie Pine Script®
par Trendoscope
23
FibRatiosLibrary "FibRatios" Library with calculation logic for fib retracement, extension and ratios retracement(a, b, ratio, logScale, precision)   Calculates the retracement for points a, b with given ratio and scale   Parameters:      a : Starting point a      b : Second point b      ratio : Ratio for which we need to calculate retracement c      logScale : Flag to get calculations in log scale. Default is false      precision : rounding precision. If set to netagive number, round_to_mintick is applied. Default is -1   Returns: retracement point c for points a,b with given ratio and scale retracementRatio(a, b, c, logScale, precision)   Calculates the retracement ratio for points a, b, c with given scale   Parameters:      a : Starting point a      b : Second point b      c : Retracement point. c should be placed between a and b      logScale : Flag to get calculations in log scale. Default is false      precision : rounding precision. If set to netagive number, round_to_mintick is applied. Default is 3   Returns: retracement ratio for points a,b,c on given scale extension(a, b, c, ratio, logScale, precision)   Calculates the extensions for points a, b, c with given ratio and scale   Parameters:      a : Starting point a      b : Second point b      c : Retracement point. c should be placed between a and b      ratio : Ratio for which we need to calculate extension d      logScale : Flag to get calculations in log scale. Default is false      precision : rounding precision. If set to netagive number, round_to_mintick is applied. Default is -1   Returns: extensoin point d for points a,b,c with given ratio and scale extensionRatio(a, b, c, d, logScale, precision)   Calculates the extension ratio for points a, b, c, d with given scale   Parameters:      a : Starting point a      b : Second point b      c : Retracement point. c should be placed between a and b      d : Extension point. d should be placed beyond a, c. But, can be with b,c or beyond b      logScale : Flag to get calculations in log scale. Default is false      precision : rounding precision. If set to netagive number, round_to_mintick is applied. Default is 3   Returns: extension ratio for points a,b,c,d on given scale
Bibliothèque Pine Script®
par Trendoscope
5
DataCorrelationLibrary "DataCorrelation" Implementation of functions related to data correlation calculations. Formulas have been transformed in such a way that we avoid running loops and instead make use of time series to gradually build the data we need to perform calculation. This allows the calculations to run on unbound series, and/or higher number of samples 🎲 Simplifying Covariance Original Formula //For Sample Covₓᵧ = ∑ ((xᵢ-x̄)(yᵢ-ȳ)) / (n-1) //For Population Covₓᵧ = ∑ ((xᵢ-x̄)(yᵢ-ȳ)) / n Now, if we look at numerator, this can be simplified as follows ∑ ((xᵢ-x̄)(yᵢ-ȳ)) => (x₁-x̄)(y₁-ȳ) + (x₂-x̄)(y₂-ȳ) + (x₃-x̄)(y₃-ȳ) ... + (xₙ-x̄)(yₙ-ȳ) => (x₁y₁ + x̄ȳ - x₁ȳ - y₁x̄) + (x₂y₂ + x̄ȳ - x₂ȳ - y₂x̄) + (x₃y₃ + x̄ȳ - x₃ȳ - y₃x̄) ... + (xₙyₙ + x̄ȳ - xₙȳ - yₙx̄) => (x₁y₁ + x₂y₂ + x₃y₃ ... + xₙyₙ) + (x̄ȳ + x̄ȳ + x̄ȳ ... + x̄ȳ) - (x₁ȳ + x₂ȳ + x₃ȳ ... xₙȳ) - (y₁x̄ + y₂x̄ + y₃x̄ + yₙx̄) => ∑xᵢyᵢ + n(x̄ȳ) - ȳ∑xᵢ - x̄∑yᵢ So, overall formula can be simplified to be used in pine as //For Sample Covₓᵧ = (∑xᵢyᵢ + n(x̄ȳ) - ȳ∑xᵢ - x̄∑yᵢ) / (n-1) //For Population Covₓᵧ = (∑xᵢyᵢ + n(x̄ȳ) - ȳ∑xᵢ - x̄∑yᵢ) / n 🎲 Simplifying Standard Deviation Original Formula //For Sample σ = √(∑(xᵢ-x̄)² / (n-1)) //For Population σ = √(∑(xᵢ-x̄)² / n) Now, if we look at numerator within square root ∑(xᵢ-x̄)² => (x₁² + x̄² - 2x₁x̄) + (x₂² + x̄² - 2x₂x̄) + (x₃² + x̄² - 2x₃x̄) ... + (xₙ² + x̄² - 2xₙx̄) => (x₁² + x₂² + x₃² ... + xₙ²) + (x̄² + x̄² + x̄² ... + x̄²) - (2x₁x̄ + 2x₂x̄ + 2x₃x̄ ... + 2xₙx̄) => ∑xᵢ² + nx̄² - 2x̄∑xᵢ => ∑xᵢ² + x̄(nx̄ - 2∑xᵢ) So, overall formula can be simplified to be used in pine as //For Sample σ = √(∑xᵢ² + x̄(nx̄ - 2∑xᵢ) / (n-1)) //For Population σ = √(∑xᵢ² + x̄(nx̄ - 2∑xᵢ) / n) 🎲 Using BinaryInsertionSort library Chatterjee Correlation and Spearman Correlation functions make use of BinaryInsertionSort library to speed up sorting. The library in turn implements mechanism to insert values into sorted order so that load on sorting is reduced by higher extent allowing the functions to work on higher sample size. 🎲 Function Documentation chatterjeeCorrelation(x, y, sampleSize, plotSize)   Calculates chatterjee correlation between two series. Formula is - ξnₓᵧ = 1 - (3 * ∑ |rᵢ₊₁ - rᵢ|)/ (n²-1)   Parameters:      x : First series for which correlation need to be calculated      y : Second series for which correlation need to be calculated      sampleSize : number of samples to be considered for calculattion of correlation. Default is 20000      plotSize : How many historical values need to be plotted on chart.   Returns: float correlation - Chatterjee correlation value if falls within plotSize, else returns na spearmanCorrelation(x, y, sampleSize, plotSize)   Calculates spearman correlation between two series. Formula is - ρ = 1 - (6∑dᵢ²/n(n²-1))   Parameters:      x : First series for which correlation need to be calculated      y : Second series for which correlation need to be calculated      sampleSize : number of samples to be considered for calculattion of correlation. Default is 20000      plotSize : How many historical values need to be plotted on chart.   Returns: float correlation - Spearman correlation value if falls within plotSize, else returns na covariance(x, y, include, biased)   Calculates covariance between two series of unbound length. Formula is Covₓᵧ = ∑ ((xᵢ-x̄)(yᵢ-ȳ)) / (n-1) for sample and Covₓᵧ = ∑ ((xᵢ-x̄)(yᵢ-ȳ)) / n for population   Parameters:      x : First series for which covariance need to be calculated      y : Second series for which covariance need to be calculated      include : boolean flag used for selectively including sample      biased : boolean flag representing population covariance instead of sample covariance   Returns: float covariance - covariance of selective samples of two series x, y stddev(x, include, biased)   Calculates Standard Deviation of a series. Formula is σ = √( ∑(xᵢ-x̄)² / n ) for sample and σ = √( ∑(xᵢ-x̄)² / (n-1) ) for population   Parameters:      x : Series for which Standard Deviation need to be calculated      include : boolean flag used for selectively including sample      biased : boolean flag representing population covariance instead of sample covariance   Returns: float stddev - standard deviation of selective samples of series x correlation(x, y, include)   Calculates pearson correlation between two series of unbound length. Formula is r = Covₓᵧ / σₓσᵧ   Parameters:      x : First series for which correlation need to be calculated      y : Second series for which correlation need to be calculated      include : boolean flag used for selectively including sample   Returns: float correlation - correlation between selective samples of two series x, y
Bibliothèque Pine Script®
par Trendoscope
9
Band-Zigzag Based Trend FollowerWe defined new method to derive zigzag last month - which is called Channel-Based-Zigzag . This script is an example of one of the use case of this method. 🎲 Trend Following Defining a trend following method is simple. Basic rule of trend following is Buy High and Sell Low (Yes, you heard it right). To explain further - methodology involve finding an established trend which is flying high and join the trend with proper risk and optimal stop. Once you get into the trade, you will not exit unless there is change in the trend. Or in other words, the parameters which you used to define trend has reversed and the trend is not valid anymore. Few examples are: 🎯 Using bands When price breaks out of upper bands (example, Bollinger Band, Keltener Channel, or Donchian Channel), with a pre determined length and multiplier, we can consider the trend to be bullish and similarly when price breaks down the lower band, we can consider the trend to be bearish. Here are few examples where I have used bands for identifying trend Band-Based-Supertrend Donchian-Channel-Trend-Filter 🎯 Using Pivots Simple logic using zigzag or pivot points is that when price starts making higher highs and higher lows, we can consider this as uptrend. And when price starts making lower highs and lower lows, we can consider this as downtrend. There are few supertrend implementations I have published in the past based on zigzags and pivot points. Adoptive-Supertrend-Pivots Zigzag-Supertrend Drawbacks of both of these methods is that there will be too many fluctuations in both cases unless we increase the reference length. And if we increase the reference length, we will have higher drawdown. 🎲 Band Based Zigzag Method Band Based Zigzag will help overcome these issues by combining both the methods. Here we use bands to define our pivot high and pivot low - this makes sure that we are identifying trend only on breakouts as pivots are only formed on breakouts. Our method also includes pivot ratio to cross over 1.0 to be able to consider it as trend. This means, we are waiting for price also to make new high high or lower low before making the decision on trend. But, this helps us ignore smaller pivot movements due to the usage of bands. I have also implemented few tricks such as sticky bands (Bands will not contract unless there is breakout) and Adaptive Bands (Band will not expand unless price is moving in the direction of band). This makes the trend following method very robust. To avoid fakeouts, we also use percentB of high/low in comparison with price retracement to define breakout. 🎲 The indicator The output of indicator is simple and intuitive to understand. 🎯 Trend Criteria Uptrend when last confirmed pivot is pivot high and has higher retracement ratio than PercentB of High. Else, considered as downtrend. Downtrend when last confirmed pivot is pivot low and has higher retracement ratio than PercentB of High. Else, considered as uptrend. 🎯 Settings Settings allow you to select the band type and parameters used for calculating zigzag and then trend. Also has few options to hide the display.
Indicateur Pine Script®
par Trendoscope
25
Chatterjee CorrelationThis is my first attempt on implementing a statistical method. This problem was given to me by @lejmer (who also helped me later on building more efficient code to achieve this) when we were debating on the need for higher resource allocation to run scripts so it can run longer and faster. The major problem faced by those who want to implement statistics based methods is that they run out of processing time or need to limit the data samples. My point was that such things need be implemented with an algorithm which suits pine instead of trying to port a python code directly. And yes, I am able to demonstrate that by using this implementation of Chatterjee Correlation. 🎲 What is Chatterjee Correlation? The Chatterjee rank Correlation Coefficient (CCC) is a method developed by Sourav Chatterjee which can be used to study non linear correlation between two series. Full documentation on the method can be found here: arxiv.org In short, the formula which we are implementing here is: Algorithm can be simplified as follows: 1. Get the ranks of X 2. Get the ranks of Y 3. Sort ranks of Y in the order of X (Lets call this SortedYIndices) 4. Calculate the sum of adjacent Y ranks in SortedYIndices (Lets call it as SumOfAdjacentSortedIndices) 5. And finally the correlation coefficient can be calculated by using simple formula CCC = 1 - (3*SumOfAdjacentSortedIndices)/(n^2 - 1) 🎲 Looks simple? What is the catch? Mistake many people do here is that they think in Python/Java/C etc while coding in Pine. This makes code less efficient if it involves arrays and loops. And the simple code may look something like this. var xArray = array.new() var yArray = array.new() array.push(xArray, x) array.push(yArray, y) sortX = array.sort_indices(xArray) sortY = array.sort_indices(yArray) SumOfAdjacentSortedIndices = 0.0 index = array.get(xSortIndices, 0) for i=1 to n > 1? n -1 : na indexNext = array.get(sortX, i) SumOfAdjacentSortedIndices += math.abs(array.get(sortY, indexNext)-array.get(sortY, index)) index := indexNext correlation := 1 - 3*SumOfAdjacentSortedIndices/(math.pow(n,2)-1) But, problem here is the number of loops run. Remember pine executes the code on every bar. There are loops run in array.sort_indices and another loop we are running to calculate SumOfAdjacentSortedIndices. Due to this, chances of program throwing runtime errors due to script running for too long are pretty high. This limits greatly the number of samples against which we can run the study. The options to overcome are Limit the sample size and calculate only between certain bars - this is not ideal as smaller sets are more likely to yield false or inconsistent results. Start thinking in pine instead of python and code in such a way that it is optimised for pine. - This is exactly what we have done in the published code. 🎲 How to think in Pine? In order to think in pine, you should try to eliminate the loops as much as possible. Specially on the data which is continuously growing. My first thought was that sorting takes lots of time and need to find a better way to sort series - specially when it is a growing data set. Hence, I came up with this library which implements Binary Insertion Sort. Replacing array.sort_indices with binary insertion sort will greatly reduce the number of loops run on each bar. In binary insertion sort, the array will remain sorted and any item we add, it will keep adding it in the existing sort order so that there is no need to run separate sort. This allows us to work with bigger data sets and can utilise full 20,000 bars for calculation instead of few 100s. However, last loop where we calculate SumOfAdjacentSortedIndices is not replaceable easily. Hence, we only limit these iterations to certain bars (Even though we use complete sample size). Plots are made for only those bars where the results need to be printed. 🎲 Implementation Current implementation is limited to few combinations of x and fixed y. But, will be converting this into library soon - which means, programmers can plug any x and y and get the correlation. Our X here can be Average volume ATR And our Y is distance of price from moving average - which identifies trend. Thus, the indicator here helps to understand the correlation coefficient between volume and trend OR volatility and trend for given ticker and timeframe. Value closer to 1 means highly correlated and value closer to 0 means least correlated. Please note that this method will not tell how these values are correlated. That is, we will not be able to know if higher volume leads to higher trend or lower trend. But, we can say whether volume impacts trend or not. Please note that values can differ by great extent for different timeframes. For example, if you look at 1D timeframe, you may get higher value of correlation coefficient whereas lower value for 1m timeframe. This means, volume to trend correlation is higher in 1D timeframe and lower in lower timeframes.
Indicateur Pine Script®
par Trendoscope
10
HSupertrendLibrary "HSupertrend" Supertrend implementation based on harmonic patterns hsupertrend(zProperties, pProperties, errorPercent, showPatterns, patternColor)   derives supertrend based on harmonic patterns   Parameters:      zProperties : ZigzagProperties containing Zigzag length and source array      pProperties : PatternProperties used for calculation      errorPercent : Error threshold for scanning patterns      showPatterns : Draw identified patterns structure on chart      patternColor : Color of the pattern lines to be drawn   Returns: ZigzagProperties   ZigzagProperties contains values required for zigzag calculation   Fields:      length : Zigzag length      source : Array containing custom OHLC. If not set, array.from(high, low) is used PatternProperties   PatternProperties are essential pattern parameters used for calculation of bullish and bearish zones   Fields:      base : Base for calculating entry and stop of pattern. Can be CD, minmax or correction. Default is CD      entryPercent : Distance from D in terms of percent of Base in the direction of pattern      stopPercent : Distance from D in terms of percent of Base in the opposite direction of pattern      useClosePrices : When set uses close price for calculation of supertrend breakout
Bibliothèque Pine Script®
par Trendoscope
Harmonic Patterns Based SupertrendExtending the earlier implemented concept of Harmonic-Patterns-Based-Trend-Follower , in this script, lets make it work as supertrend so that it is more easier to operate. 🎲 Process 🎯 Derive Zigzag and scan harmonic patterns for last 5 confirmed pivots 🎯 If a pattern is found, bullish and bearish zones are calculated based on parameter Base 🎯 These bullish and bearish zones act as supertrend based on current trade in progress. 🎯 When in bullish mode, bearish zone will only go up irrespective of new pattern forming new low. Similarly when in bearish mode, bullish zones will only come down - this is done to imitate the standard supertrend behaviour. 🎲 Note Patterns are not created on latest pivot as last pivot will be unconfirmed and moving. Due to this, patterns appear after certain delay - patterns will not be real time. But, this is expected and does not impact the overall process. Here are few chart captures to demonstrate how it works. 🎲 Settings Settings are explained in the screenshot below.
Indicateur Pine Script®
par Trendoscope
13
Harmonic Patterns Based Trend FollowerEarlier this week, published an idea on how harmonic patterns can be used for trend following. This script is an attempt to implement the same. 🎲 Process 🎯 Derive Zigzag and scan harmonic patterns for last 5 confirmed pivots 🎯 If a pattern is found, highest point of pattern will become the bullish zone and lower point of the pattern will become bearish zone. 🎯 Since it is trend following method, when price reaches bullish zone, then the trend is considered as bullish and when price reaches bearish zone, the trend is considered as bearish. 🎯 If price does not touch both regions, then trend remains unchanged. 🎯 Bullish and bearish zone will change as and when new patterns are formed. 🎲 Note Patterns are not created on latest pivot as last pivot will be unconfirmed and moving. Due to this, patterns appear after certain delay - patterns will not be real time. But, this is expected and does not impact the overall process. When new pattern formed When price breaks over the zones 🎲 Output 🎯 Patterns formed are drawn in blue coloured lines. Due to pine limitation of max 500 lines, older patterns automatically get deleted when new ones come. 🎯 Bullish Zone and Bearish Zone are plotted in green and red colours and the zone will change whenever new pattern comes along. 🎯 Bar colors are changed according to calculated trend. Trend value can be 1 or -1 based on the current trend. You can also find the value in data window. 🎯 For simplicity purpose, input option for selection of specific patterns are not provided and also pattern names are not displayed on the chart.
Indicateur Pine Script®
par Trendoscope
36
Band Based Trend FilterSimilar to RelativeBandwidthFilter , this script is also a simple trend filter which can be used to define your trading zone. 🎲 Concept On contrary to reversal mindset, we define trend when price hits either side of the band. If close price hits upper band then it is considered as bullish and if close price hits lower band, then it is considered bearish. Further, trend strength is measured in terms of how many times the price hits one side of the band without hitting other side. Hit is counted only if price has touched middle line in between the touches. This way price walks on the bands are considered as just one hit. 🎲 Settings Settings are minimal and details can be found in the tooltips against each parameters 🎲 Usage This can be used with your own strategy to filter your trading/non-trading zones based on trend . Script plots a variable called "Trend" - which is not shown on chart pane. But, it is available in the data window. This can be used in another script as external input and apply logic. Trend values can be 1 : Allow only Long -1 : Allow only short 0 : Do not allow any trades
Indicateur Pine Script®
par Trendoscope
10
Wolfe Strategy [Trendoscope]Hello Everyone, Wish you all Merry X-Mas and happy new year. Lets start 2023 with fresh new strategy built on Wolfe Indicator. Details of the indicator can be found here 🎲 Wolfe Concept Wolfe concept is simple. Whenever a wedge is formed, draw a line joining pivot 1 and 4 as shown in the chart below: For simplicity, we will only consider static value for Target and Stop. But, entry is done based on breaking the triangle. Revised strategy looks something like this: 🎲 Settings Settings are simple and details of each are provided via tooltips. Out of these, the most important one is minimum risk reward ratio. If you set lower risk reward threshold then losing few trades may generate more losses than more winning trades. Similarly higher value will filter out most of the trades and may not work efficiently. Default value set to 1 to make sure optimal risk reward is present before placing trade. Also make note that since the entry bar is always moving towards stop, as and when pattern progress, the RR will also increase. Hence, a pattern which is below RR threshold may become good to trade at certain point of time in future. 🎲 Strategy Parameters Default strategy parameters are initialised via definition. Margins are set to 100 to disable leveraged trades. Appropriate values are chosen for other parameters. These can be altered based on individual strategy and trading plan. As the strategy concentrates on the single pattern, number of trades generated are comparatively less. But, there is chance to increase the algorithm further to catch more such patterns on larger scale. Will try to work on them in next versions. 🎲 Pine Strategy limitations Backtest can only be done on one direction as pine strategy cannot have both long and short open trades together. Hence, it is mandatory to chose either long/short trades in settings. Since pyramiding is limited to 1, there is possibility of a pattern not generating trade even though the entry conditions are met. They are just based on pine limitations and not necessarily mean patterns are not good for placing trades.
Stratégie Pine Script®
par Trendoscope
33
Channel Based Zigzag [HeWhoMustNotBeNamed]🎲 Concept Zigzag is built based on the price and number of offset bars. But, in this experiment, we build zigzag based on different bands such as Bollinger Band, Keltner Channel and Donchian Channel. The process is simple: 🎯 Derive bands based on input parameters 🎯 High of a bar is considered as pivot high only if the high price is above or equal to upper band. 🎯 Similarly low of a bar is considered as pivot low only if low price is below or equal to lower band. 🎯 Adding the pivot high/low follows same logic as that of regular zigzag where pivot high is always followed by pivot low and vice versa. 🎯 If the new pivot added is of same direction as that of last pivot, then both pivots are compared with each other and only the extreme one is kept. (Highest in case of pivot high and lowest in case of pivot low) 🎯 If a bar has both pivot high and pivot low - pivot with same direction as previous pivot is added to the list first before adding the pivot with opposite direction. 🎲 Use Cases Can be used for pattern recognition algorithms instead of standard zigzag. This will help derive patterns which are relative to bands and channels. Example: John Bollinger explains how to manually scan double tap using Bollinger Bands in this video: www.youtube.com This modified zigzag base can be used to achieve the same using algorithmic means. 🎲 Settings Few simple configurations which will let you select the band properties. Notice that there is no zigzag length here. All the calculations depend on the bands. With bands display, indicator looks something like this Note that pivots do not always represent highest/lowest prices. They represent highest/lowest price relative to bands. As mentioned many times, application of zigzag is not for buying at lower price and selling at higher price. It is mainly used for pattern recognition either manually or via algorithms. Lets build new Harmonic, Chart patterns, Trend Lines using the new zigzag?
Indicateur Pine Script®
par Trendoscope
18
BinaryInsertionSortLibrary "BinaryInsertionSort" Library containing functions which can help create sorted array based on binary insertion sort. This sorting will be quicker than array.sort function if the sorting needs to be done on every bar and the size of the array is comparatively big. This is created with the intention of using this to solve a bigger problem posted by @lejmer. Wish me luck!! binary_insertion_sort(sortedArray, item, order)   binary insertion sort - inserts item into sorted array while maintaining sort order   Parameters:      sortedArray : array which is assumed to be sorted in the requested order      item : float|int item which needs to be inserted into sorted array      order : Sort order - positive number means ascending order whereas negative number represents descending order   Returns: int index at which the item is inserted into sorted array update_sort_indices(sortIndices, newItemIndex)   adds the sort index of new item added to sorted array and also updates existing sort indices.   Parameters:      sortIndices : array containing sort indices of an array.      newItemIndex : sort index of new item added to sorted array   Returns: void get_array_of_series(item, order)   Converts series into array and sorted array.   Parameters:      item : float|int series      order : Sort order - positive number means ascending order whereas negative number represents descending order   Returns: get_sorted_arrays(item, order)   Converts series into array and sorted array. Also calculates the sort order of the value array   Parameters:      item : float|int series      order : Sort order - positive number means ascending order whereas negative number represents descending order   Returns:
Bibliothèque Pine Script®
par Trendoscope
4
Electrocardiogram ChartThis is an attempt to develop alternative visualisation of financial charts. This script also makes use of new pine feature types which represents User Defined Object Types. You can refer to below documentation to understand more about this feature: www.tradingview.com www.tradingview.com 🎲 Structure of new chart components 🎯Instead of candles/bars, this type of chart contains Electrocardiogram blocks which resembles the heartbeat signals on electrocardiogram. Body color of the block is defined by the open and close prices of the bar. If close is greater than open, body is green. Otherwise, the body is painted red. Border color of the block is defined by the close prices of current and previous bar. If the close of current bar is greater than that of last bar, then the border color is green. Otherwise, border color is painted red. 🎯Inside each blocks there will be 5 connecting lines called the signal lines. open-open open-firstPeak(high or low of the bar whichever comes first) firstPeak-secondPeak(high or low of the bar whichever comes last) secondPeak-close close-close 🎯 Color of the signal lines are determined by which among the high/low of the bar comes last. If highest part of the bar reached after reaching the lowest part of the bar, then signal lines are coloured green signifying bullish sentiment towards the end of bar. If lowest part of the bar reached after reaching the highest part of the bar, then signal lines are coloured red signifying bearish sentiment towards the end of bar. Pictorial examples here: 🎲 Limitations with pinescript implementation Since, pinescript can only use maximum 500 lines and each block will take 1 box and 5 lines, it is not possible to display more than 100 bars. Each block of new Electrocardiogram chart will take the space of 7 bars of candlestick chart. Due to this, the alignment of regular OHLC candles is not inline with the new chart type. Background highlighting is done for the part of the OHLC candles where Electrocardiogram blocks are plotted so that it helps users to map the bars manually Thanks to @theheirophant for suggestion of name :)
Indicateur Pine Script®
par Trendoscope
48
taLibrary "ta" Collection of all custom and enhanced TA indicators. Same as enhanced_ta. But, removed all the displays to make it faster. ma(source, maType, length)   returns custom moving averages   Parameters:      source : Moving Average Source      maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median      length : Moving Average Length   Returns: moving average for the given type and length atr(maType, length)   returns ATR with custom moving average   Parameters:      maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median      length : Moving Average Length   Returns: ATR for the given moving average type and length atrpercent(maType, length)   returns ATR as percentage of close price   Parameters:      maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median      length : Moving Average Length   Returns: ATR as percentage of close price for the given moving average type and length bb(source, maType, length, multiplier, sticky)   returns Bollinger band for custom moving average   Parameters:      source : Moving Average Source      maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median      length : Moving Average Length      multiplier : Standard Deviation multiplier      sticky : - sticky boundaries which will only change when value is outside boundary.   Returns: Bollinger band with custom moving average for given source, length and multiplier bbw(source, maType, length, multiplier, sticky)   returns Bollinger bandwidth for custom moving average   Parameters:      source : Moving Average Source      maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median      length : Moving Average Length      multiplier : Standard Deviation multiplier      sticky : - sticky boundaries which will only change when value is outside boundary.   Returns: Bollinger Bandwidth for custom moving average for given source, length and multiplier bpercentb(source, maType, length, multiplier, sticky)   returns Bollinger Percent B for custom moving average   Parameters:      source : Moving Average Source      maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median      length : Moving Average Length      multiplier : Standard Deviation multiplier      sticky : - sticky boundaries which will only change when value is outside boundary.   Returns: Bollinger Percent B for custom moving average for given source, length and multiplier kc(source, maType, length, multiplier, useTrueRange, sticky)   returns Keltner Channel for custom moving average   Parameters:      source : Moving Average Source      maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median      length : Moving Average Length      multiplier : Standard Deviation multiplier      useTrueRange : - if set to false, uses high-low.      sticky : - sticky boundaries which will only change when value is outside boundary.   Returns: Keltner Channel for custom moving average for given souce, length and multiplier kcw(source, maType, length, multiplier, useTrueRange, sticky)   returns Keltner Channel Width with custom moving average   Parameters:      source : Moving Average Source      maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median      length : Moving Average Length      multiplier : Standard Deviation multiplier      useTrueRange : - if set to false, uses high-low.      sticky : - sticky boundaries which will only change when value is outside boundary.   Returns: Keltner Channel Width for custom moving average kpercentk(source, maType, length, multiplier, useTrueRange, sticky)   returns Keltner Channel Percent K Width with custom moving average   Parameters:      source : Moving Average Source      maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median      length : Moving Average Length      multiplier : Standard Deviation multiplier      useTrueRange : - if set to false, uses high-low.      sticky : - sticky boundaries which will only change when value is outside boundary.   Returns: Keltner Percent K for given moving average, source, length and multiplier dc(length, useAlternateSource, alternateSource, sticky)   returns Custom Donchian Channel   Parameters:      length : - donchian channel length      useAlternateSource : - Custom source is used only if useAlternateSource is set to true      alternateSource : - Custom source      sticky : - sticky boundaries which will only change when value is outside boundary.   Returns: Donchian channel dcw(length, useAlternateSource, alternateSource, sticky)   returns Donchian Channel Width   Parameters:      length : - donchian channel length      useAlternateSource : - Custom source is used only if useAlternateSource is set to true      alternateSource : - Custom source      sticky : - sticky boundaries which will only change when value is outside boundary.   Returns: Donchian channel width dpercentd(useAlternateSource, alternateSource, length, sticky)   returns Donchian Channel Percent of price   Parameters:      useAlternateSource : - Custom source is used only if useAlternateSource is set to true      alternateSource : - Custom source      length : - donchian channel length      sticky : - sticky boundaries which will only change when value is outside boundary.   Returns: Donchian channel Percent D oscillatorRange(source, method, highlowLength, rangeLength, sticky)   oscillatorRange - returns Custom overbought/oversold areas for an oscillator input   Parameters:      source : - Osillator source such as RSI, COG etc.      method : - Valid values for method are : sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median      highlowLength : - length on which highlow of the oscillator is calculated      rangeLength : - length used for calculating oversold/overbought range - usually same as oscillator length      sticky : - overbought, oversold levels won't change unless crossed   Returns: Dynamic overbought and oversold range for oscillator input oscillator(type, length, shortLength, longLength, source, highSource, lowSource, method, highlowLength, sticky)   oscillator - returns Choice of oscillator with custom overbought/oversold range   Parameters:      type : - oscillator type. Valid values : cci, cmo, cog, mfi, roc, rsi, stoch, tsi, wpr      length : - Oscillator length - not used for TSI      shortLength : - shortLength only used for TSI      longLength : - longLength only used for TSI      source : - custom source if required      highSource : - custom high source for stochastic oscillator      lowSource : - custom low source for stochastic oscillator      method : - Valid values for method are : sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median      highlowLength : - length on which highlow of the oscillator is calculated      sticky : - overbought, oversold levels won't change unless crossed   Returns: Oscillator value along with dynamic overbought and oversold range for oscillator input multibands(bandType, source, maType, length, useTrueRange, sticky, numberOfBands, multiplierStart, multiplierStep)   multibands - returns Choice of oscillator with custom overbought/oversold range   Parameters:      bandType : - Band type - can be either bb or kc      source : - custom source if required      maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median      length : - Oscillator length - not used for TSI      useTrueRange : - if set to false, uses high-low.      sticky : - for sticky borders which only change upon source crossover/crossunder      numberOfBands : - Number of bands to generate      multiplierStart : - Starting ATR or Standard deviation multiplier for first band      multiplierStep : - Incremental value for multiplier for each band   Returns: array of band values sorted in ascending order mbandoscillator(bandType, source, maType, length, useTrueRange, stickyBands, numberOfBands, multiplierStart, multiplierStep)   mbandoscillator - Multiband oscillator created on the basis of bands   Parameters:      bandType : - Band type - can be either bb or kc      source : - custom source if required      maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median      length : - Oscillator length - not used for TSI      useTrueRange : - if set to false, uses high-low.      stickyBands : - for sticky borders which only change upon source crossover/crossunder for band detection      numberOfBands : - Number of bands to generate      multiplierStart : - Starting ATR or Standard deviation multiplier for first band      multiplierStep : - Incremental value for multiplier for each band   Returns: oscillator currentStates - Array containing states for last n bars
Bibliothèque Pine Script®
par Trendoscope
Next Pivot Projection [Trendoscope]Still experimental. Extending further on the divergence backtest results - in this script we try to project next 2 pivots (including one unconfirmed pivot) 🎲 Previous experiments 1. Divergence-Backtester 2. Divergence-Backtester-V2 🎲 Additions Apart from collecting the stats on number of occurrences of HH, HL, LH, LL - this script also keeps track of average ratio for each levels and average bars. Based on these data, we try to calculate the next pivot projections including possible bar and price. Cloud covering the candles indicate historical levels of average HH, HL, LH, LL projections. Hover on projection labels to find more details in tooltips. 🎲 Overall method in a nutshell 🎲 Going bit deeper 🎯 Unconfirmed Pivot and its projection - Last pivot of the zigzag is always unconfirmed. Meaning, it can potentially repaint based on further price movements. But, projection of the unconfirmed pivot will not change as it will be based on previous two pivots - both of which are confirmed. 🎯 Next Pivot Projection - Next pivot is projected based on last two pivots - which include last unconfirmed pivot. Hence, these projections can potentially repaint based on the last pivot repaint. 🎯 Historical projections displayed as cloud - Historical projection values are displayed as cloud around pivots. A cloud above represents area from average lower high range to average higher high range. Cloud color is green if average ratio of pivot high is more than 1. Red Otherwise. A cloud below represents area from average higher low range to average lower low range. Cloud color is red if average ratio of pivot high is more than 1. Green otherwise
Indicateur Pine Script®
par Trendoscope
142
Divergence Backtester - V2Further attempts to study divergence impact on price in shorter terms. Previous study can be found here: In this script, we are trying to gather the stats based on last two pivot state together. For example, Individual table of Pivot High Projection is as explained below: But, by looking at the bigger picture, we can further estimate following things regarding the current unconfirmed pivot and the new pivot which is yet to be formed.
Indicateur Pine Script®
par Trendoscope
12