Trendoscope

strategy Library "strategy" Library containing few key calculations for strategy involving leveraged limit and stop orders getQty(entry, stop, riskPercentage) calculate qty and leverage based on entry and stop price for given risk percentage. Parameters: entry : Entry Price stop : Stop Price riskPercentage : risk percentage per trade Returns: - Quantity based on the risk and calculated leverage on position including existing positions bracketOrder(entry, stop, target, maxLeverage, isLimitOrder, riskPercentage) Calculates position size based on risk and creates bracket orders for given entry/stop/target Parameters: entry : Entry Price stop : Stop Price target : Target Price maxLeverage : Maximum leverage allowed isLimitOrder : if true, places limit order for entry, else places stop order. riskPercentage : risk percentage per trade Returns: orderPlaced - true if orders successfully placed, false otherwise. order(entry, stop, maxLeverage, isLimitOrder, riskPercentage) Calculates position size based on risk and creates order for given entry/stop Parameters: entry : Entry Price stop : Stop Price maxLeverage : Maximum leverage allowed isLimitOrder : if true, places limit order for entry, else places stop order. riskPercentage : risk percentage per trade Returns: orderPlaced - true if orders successfully placed, false otherwise.

Library

Extreme Trend Reversal Points [HeWhoMustNotBeNamed]Using moving average crossover for identifying the change in trend is very common. However, this method can give lots of false signals during the ranging markets. In this algorithm, we try to find the extreme trend by looking at fully aligned multi-level moving averages and only look at moving average crossover when market is in the extreme trend - either bullish or bearish. These points can mean long term downtrend or can also cause a small pullback before trend continuation. In this discussion, we will also check how to handle different scenarios. 🎲 Components 🎯 Recursive Multi Level Moving Averages Multi level moving average here refers to applying moving average on top of base moving average on multiple levels. For example, Level 1 SMA = SMA(source, length) Level 2 SMA = SMA(Level 1 SMA, length) Level 3 SMA = SMA(Level 2 SMA, length) .. .. .. Level n SMA = SMA(Level (n-1) SMA, length) In this script, user can select how many levels of moving averages need to be calculated. This is achieved through " recursive moving average " algorithm. Requirement for building such algorithm was initially raised by @loxx While I was able to develop them in minimal code with the help of some of the existing libraries built on arrays and matrix , I also thought why not extend this to find something interesting. Note that since we are using variable levels - we will not be able to plot all the levels of moving average. (This is because plotting cannot be done in the loop). Hence, we are using lines to display the latest moving average levels in front of the last candle. Lines are color coded in such a way that least numbered levels are greener and higher levels are redder. 🎯 Finding the trend and range Strength of fully aligned moving average is calculated based on position of each level with respect to other levels. For example, in a complete uptrend, we can find source > L(1)MA > L(2)MA > L(3)MA ...... > L(n-1)MA > L(n)MA Similarly in a complete downtrend, we can find source < L(1)MA < L(2)MA < L(3)MA ...... < L(n-1)MA < L(n)MA Hence, the strength of trend here is calculated based on relative positions of each levels. Due to this, value of strength can range from 0 to Level*(Level-1)/2 0 represents the complete downtrend Level*(Level-1)/2 represents the complete uptrend. Range and Extreme Range are calculated based on the percentile from median. The brackets are defined as per input parameters - Range Percentile and Extreme Range Percentile by using Percentile History as reference length. Moving average plot is color coded to display the trend strength. Green - Extreme Bullish Lime - Bullish Silver - range Orange - Bearish Red - Extreme Bearish 🎯 Finding the trend reversal Possible trend reversals are when price crosses the moving average while in complete trend with all the moving averages fully aligned. Triangle marks are placed in such locations which can help observe the probable trend reversal points. But, there are possibilities of trend overriding these levels. An example of such thing, we can see here: In order to overcome this problem, we can employ few techniques. 1. After the signal, wait for trend reversal (moving average plot color to turn silver) before placing your order. 2. Place stop orders on immediate pivot levels or support resistance points instead of opening market order. This way, we can also place an order in the direction of trend. Whichever side the price breaks out, will be the direction to trade. 3. Look for other confirmations such as extremely bullish and bearish candles before placing the orders. 🎯 An example of using stop orders Let us take this scenario where there is a signal on possible reversal from complete uptrend. Create a box joining high and low pivots at reasonable distance. You can also chose to add 1 ATR additional distance from pivots. Use the top of the box as stop-entry for long and bottom as stop-entry for short. The other ends of the box can become stop-losses for each side. After few bars, we can see that few more signals are plotted but, the price is still within the box. There are some candles which touched the top of the box. But, the candlestick patterns did not represent bullishness on those instances. If you have placed stop orders, these orders would have already filled in. In that case, just wait for position to hit either stop or target. For bullish side, targets can be placed at certain risk reward levels. In this case, we just use 1:1 for bullish (trend side) and 1:1.5 for bearish side (reversal side) In this case, price hit the target without any issue: Wait for next reversal signal to appear before placing another order :)

Indicator

ahpuhelper Library "ahpuhelper" Helper Library for Auto Harmonic Patterns UltimateX. It is not meaningful for others. This is supposed to be private library. But, publishing it to make sure that I don't delete accidentally. Some functions may be useful for coders. insert_open_trades_table_column(showOpenTrades, table_id, column, colors, values, intStatus, harmonicTrailingStartState, lblSizeOpenTrades) add data to open trades table column Parameters: showOpenTrades : flag to show open trades table table_id : Table Id column : refers to pattern data colors : backgroud and text color array values : cell values intStatus : status as integer harmonicTrailingStartState : trailing Start state as per configs lblSizeOpenTrades : text size Returns: nextColumn populate_closed_stats(ClosedStatsPosition, bullishCounts, bearishCounts, bullishRetouchCounts, bearishRetouchCounts, bullishSizeMatrix, bearishSizeMatrix, bullishRR, bearishRR, allPatternLabels, flags, rowMain, rowHeaders) populate closed stats for harmonic patterns Parameters: ClosedStatsPosition : Table position for closed stats bullishCounts : Matrix containing bullish trade stats bearishCounts : Matrix containing bearish trade stats bullishRetouchCounts : Matrix containing bullish trade stats for those which retouched entry bearishRetouchCounts : Matrix containing bearish trade stats for those which retouched entry bullishSizeMatrix : Matrix containing data about size of bullish patterns bearishSizeMatrix : Matrix containing data about size of bearish patterns bullishRR : Matrix containing Risk Reward data of bullish patterns bearishRR : Matrix containing Risk Reward data of bearish patterns allPatternLabels : array containing pattern labels flags : display flags rowMain : Pattern header data rowHeaders : header grouping data Returns: void get_rr_details(patternTradeDetails, harmonicTrailingStartState, disableTrail, breakEvenTrail) calculate and return risk reward based on targets and stops Parameters: patternTradeDetails : array containing stop, entry and targets harmonicTrailingStartState : trailing point disableTrail : If set, ignores trailing point breakEvenTrail : If set, trailing does not go beyond breakeven. Returns: nextColumn

Library

Micro Zigzag Micro zigzag is created based on similar concepts as that of zigzag but by using lower timeframe intra-bar data. The lines join candle's high/low points but also depict how the price movement within the candle happened. That is, if the high of the candle is reached first, pivot from previous candle join the high first and then low and vice versa. The output can also be viewed as advanced line chart. 🎲 Process 🎯 For every bar identify whether high came first or low by using lower timeframe data. 🎯 If high came before low, add high as high pivot first and then low as low pivot. If otherwise, add low as lower pivot first and then high as higher pivot. 🎯 When adding pivot, check if the last pivot is in the same direction as the new one. If yes, replace existing pivot if the new one goes beyond it. Ignore otherwise. 🎯 If the last pivot is of different direction as that one new one, then simple add the new pivot.

Indicator

SubCandles-V2 Further development on the sub-candle concept defined in the earlier script. SubCandle This time instead of concentrating only on the last part, we are dividing the main candle into three parts. First Sub-Candle - Covers the candle movement from open to first of highest/lowest point. First sub-candle tells how fast/slow the initial movement took place and which direction it went. Second Sub-Candle - Is always a full bodied candle. Most important think here is the thickness of the sub-candle which tells how quickly or slowly the price went from one side of the peak to other. Third Sub-Candle - Similar to first sub-candle but covers the last part. This part is similar to what we are depicting in the earlier version of Sub-Candle script. Thickness of the sub-candle is based on relatively how much time each sub-candle took to complete within the main candle. Few interpretation can be: If the first or third sub-candle are the thicker ones and if the thicker sub-candle has long wick, then it may mean strong rejection. If the first or third sub-candle are thicker ones and if the thicker sub-candle has full body, it may mean higher volatility within the sub-candle. If the second sub-candle is thicker than the rest - it can mean strong bias towards the direction of second sub-candle Thinner second sub-candle may mean a dump/pump. May need to check third sub-candle to see if the dump/pump are followed by pump/dump Also adding the screen shot reference below. Note: This can repaint within bar. Use it as part of bar replay. Will try to add more option to select a particular candle without bar reply soon Let me know what you think?

Indicator

SubCandle I created this script as POC to handle specific cases where not having tick data on historical bars create repainting. Happy to share if this serves purpose for other coders. What is the function of this script? Script plots a sub-candle which is remainder of candle after forming the latest peak. Higher body of Sub-candle refers to strong retracement of price from its latest peak. Color of the sub-candle defines the direction of retracement. Higher wick of Sub-candle refers to higher push in the direction of original candle. Meaning, after price reaching its peak, price retraced but could not hold. Here is a screenshot with explanation to visualise the concept: Settings There is only one setting which is number of backtest bars. Lower timeframe resolution which is used for calculating the Sub-candle uses this number to automatically calculate maximum possible lower timeframe so that all the required backtest windows are covered without having any issue. We need to keep in mind that max available lower timeframe bars is 100,000. Hence, with 5000 backtest bars, lower timeframe resolution can be about 20 (100000/5000) times lesser than that of regular chart timeframe. We need to also keep in mind that minimum resolution available as part of security_lower_tf is 1 minute. Hence, it is not advisable to use this script for chart timeframes less than 15 mins. Application I have been facing this issue in pattern recognition scripts where patterns are formed using high/low prices but entry and targets are calculated based on the opposite side (low/high). It becomes tricky during extreme bars to identify entry conditions based on just the opposite peak because, the candle might have originated from it before identifying the pattern and might have never reached same peak after forming the pattern. Due to lack of tick data on historical bars, we cannot use close price to measure such conditions. This leads to repaint and few unexpected results. I am intending to use this method to overcome the issue up-to some extent.

Indicator

Relative Bandwidth Filter This is a very simple script which can be used as measure to define your trading zones based on volatility. Concept This script tries to identify the area of low and high volatility based on comparison between Bandwidth of higher length and ATR of lower length. Relative Bandwidth = Bandwidth / ATR Bandwidth can be based on either Bollinger Band, Keltner Channel or Donchian Channel. Length of the bandwidth need to be ideally higher. ATR is calculated using built in ATR method and ATR length need to be ideally lower than that used for calculating Bandwidth. Once we got Relative Bandwidth, the next step is to apply Bollinger Band on this to measure how relatively high/low this value is. Overall - If relative bandwidth is higher, then volatility is comparatively low. If relative bandwidth is lower, then volatility is comparatively high. Usage This can be used with your own strategy to filter out your non-trading zones based on volatility. Script plots a variable called "Signal" - 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. Signal values can be 1 : Allow only Long -1 : Allow only short 0 : Do not allow any trades 2 : Allow both Long and Short

Indicator

drawcandles Library "drawcandles" simple utility to draw different candles using box and lines. Quite useful for drawing candles such as zigzag candles or MTF candles draw(o, h, l, c, oBar, cBar) draws candles based on ohlc values Parameters: o : Open Price h : High Price l : Low Price c : Close Price oBar : Open Time cBar : Close Time Returns: void

Library

arrays Library "arrays" Library contains utility functions using arrays. delete( arr , index) remove an item from array at specific index. Also deletes the item Parameters: arr: - array from which the item needs to be deleted index: - index of item to be deleted Returns: void pop( arr ) remove the last item from array. Also deletes the item Parameters: arr: - array from which the last item needs to be removed and deleted Returns: void shift( arr ) remove an item from array at index 0. Also deletes the item Parameters: arr: - array from which the first item needs to be removed and deleted Returns: void unshift( arr , val, maxItems) add an item to the beginning of an array with max items cap Parameters: arr: - array to which the item needs to be added at the beginning val: - value of item which needs to be added maxItems: - max items array can hold. After that, items are removed from the other end Returns: resulting array clear( arr ) remove and delete all items in an array Parameters: arr: - array which needs to be cleared Returns: void push( arr , val, maxItems) add an item to the end of an array with max items cap Parameters: arr: - array to which the item needs to be added at the beginning val: - value of item which needs to be added maxItems: - max items array can hold. After that, items are removed from the starting index Returns: resulting array

Library

Interactive Volume Profile - Based on LTF volume Here is my first attempt on defining volume profile. In this script, I am using new feature of pine security_lower_tf Upon loading the script, it will ask users to select Time range to show the volume profile. Once you select the time range, confirmation input will popup. Upon confirming the inputs, you will be able to view the volume profile Settings are pretty simple. Some of them appear as part of confirmation. Limitation due to availability of LTF bars security_lower_tf can only fetch upto 100k bars, Hence, if we move the starting point beyond that, we will only see volume profile from the bar where LTF volume data is available. Increasing lower timeframe resolution will also increase the available range of volume profile. Option also available to use max range instead of time based range. If max bar range is selected, then volume profile is drawn based on all the bars for which LTF volume is available. An example of all combinations are show below. Selecting the granularity of volume profile Number of levels can be set from settings which impacts the granularity of volume profile. Below is the example of how different values for number of levels behave.

Indicator

Wolfe Scanner (Multi - zigzag) [HeWhoMustNotBeNamed]Before getting into the script, I would like to explain bit of history around this project. Wolfe was in the back of my mind for some time and I had several attempts so far. 🎯Initial Attempt When I first developed harmonic patterns, I got many requests from users to develop script to automatically detect Wolfe formation. I thought it would be easy and started boasting everywhere that I am going to attempt this next. However I miserably failed that time and started realising it is not as simple as I thought it would be. I started with Wolfe in mind. But, ran into issues with loops. Soon figured out that finding and drawing wedge is more trickier. I decided will explore trendline first so that it can help find wedge better. Soon, the project turned into something else and resulted in Auto-TrendLines-HeWhoMustNotBeNamed and Wolfe left forgotten. 🎯Using predefined ratios Wolfe also has predefined fib ratios which we can use to calculate the formation. But, upon initial development, it did not convince me that it matches visual inspection of Wolfe all the time. Hence, I decided to fall back on finding wedge first. 🎯 Further exploration in finding wedge This attempt was not too bad. I did not try to jump into Wolfe and nor I bragged anywhere about attempting anything of this sort. My target this time was to find how to derive wedge. I knew then that if I manage to calculate wedge in efficient way, it can help further in finding Wolfe. While doing that, ended up deriving Wedge-and-Flag-Finder-Multi-zigzag - which is not a bad outcome. I got few reminders on Wolfe after this both in comments and in PM. 🎯You never fail until you stop trying!! After 2 back to back hectic 50hr work weeks + other commitments, I thought I will spend some time on this. Took less than half weekend and here we are. I was surprised how much little time it took in this attempt. But, the plan was running in my subconscious for several weeks or even months. Last two days were just putting these plans into an action. Now, let's discuss about the script. 🎲 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: Converging trendline forms the stop loss whereas line joining pivots 1 and 4 form the profit taking points. 🎲 Settings Settings are pretty straightforward. Explained in the chart below.

Indicator

Zigzag Matrix Nothing fancy. Just converted the new matrix library of zigzags ( mZigzag ) into indicator as I sensed it can be useful as indicator. On top of the standard zigzag, the indicator also tracks given oscillators, moving average and volume indicators on each pivots. More indicators can be added programmatically - but it will take up space in chart. Hence, so far I have only added option to add one per each type (moving average, oscillator and volume) Settings are as below

Indicator

mZigzag Library "mZigzag" Matrix implementation of zigzag to allow further possibilities. Main advantage of this library over previous zigzag methods is that you can attach any number of indicator/oscillator information to zigzag calculate(length, ohlc, indicatorHigh, indicatorLow, numberOfPivots) calculates zigzag and related information Parameters: length : is zigzag length ohlc : array of OHLC values to be used for zigzag calculation indicatorHigh : Array of indicator values calculated based on high price of OHLC indicatorLow : Array of indicators values calculated based on low price of OHLC numberOfPivots : Number of pivots to be returned Returns: pivotMatrix Matrix containing zigzag pivots, pivot bars, direction, ratio, and indicators added via indicatorHigh/indicatorLow newZG is true if a new pivot is added to array doubleZG is true if last calculation returned two new pivots (Happens on extreme price change) draw(length, ohlc, indicatorLabels, indicatorHigh, indicatorLow, numberOfPivots, lineColor, lineWidth, lineStyle, showHighLow, showRatios, showIndicators) draws zigzag and related information Parameters: length : is zigzag length ohlc : array of OHLC values to be used for zigzag calculation indicatorLabels : Array of name of indicators passed indicatorHigh : Array of indicator values calculated based on high price of OHLC indicatorLow : Array of indicators values calculated based on low price of OHLC numberOfPivots : Number of pivots to be returned lineColor : zigzag line color. set to blue by default lineWidth : zigzag line width. set to 1 by default lineStyle : zigzag line style. set to line.style_solid by default showHighLow : show HH, HL, LH, LL labels showRatios : show pivot retracement ratios from previous zigzag showIndicators : show indicator values Returns: pivotMatrix Matrix containing zigzag pivots, pivot bars, direction, ratio, and indicators added via indicatorHigh/indicatorLow zigzaglines array of zigzag lines zigzaglabels array of zigzag labels

Library

Wedge and Flag Finder (Multi - zigzag)Here is a small attempt to automatically identify wedges and flags. Tradingview standard wedge checks for only 4 pivots. In this version, I have considered 5 pivots instead - which can help reduce noise as 4 pivots forming wedge can be quite common. In future, will also try to add more pivots in pattern recognition to make the signal more accurate. If wedge comes with a tail, then it is marked as flag :) Settings are quite simple and they are as shown below

Indicator

Intrabar OBV/PVT I got this idea from @fikira's script Intrabar-Price-Volume-Change-experimental The indicator calculates OBV and PVT based on ticks. Since, the indicator relies on live ticks, it only starts execution after it is put on the charts. The script can be useful in analysing intraday buy and sell pressure. Details are color coded based on the values. Data is presented in simple tabular format. Formula for OBV and PVT can be found here: www.investopedia.com www.investopedia.com

Indicator

Max drawdown days A friendly reminder to myself and rest of the traders that market can stay low for prolonged time!! Details are pretty simple. Here is small comparison of the stats for major US indices. Can also be applied to stocks. Cells are highlighted in red background ii Drawdown/Recovery is still in progress for historical stats Current drawdown bars/recovery bars are higher than that of median of All time stats.

Indicator

eHarmonicpatternsExtended Library "eHarmonicpatternsExtended" Library provides an alternative method to scan harmonic patterns. This is helpful in reducing iterations. Republishing as new library instead of existing eHarmonicpatterns because I need that copy for existing scripts. scan_xab(bcdRatio, err_min, err_max, patternArray) Checks if bcd ratio is in range of any harmonic pattern Parameters: bcdRatio : AB/XA ratio err_min : minimum error threshold err_max : maximum error threshold patternArray : Array containing pattern check flags. Checks are made only if flags are true. Upon check flgs are overwritten. scan_abc_axc(abcRatio, axcRatio, err_min, err_max, patternArray) Checks if abc or axc ratio is in range of any harmonic pattern Parameters: abcRatio : BC/AB ratio axcRatio : XC/AX ratio err_min : minimum error threshold err_max : maximum error threshold patternArray : Array containing pattern check flags. Checks are made only if flags are true. Upon check flgs are overwritten. scan_bcd(bcdRatio, err_min, err_max, patternArray) Checks if bcd ratio is in range of any harmonic pattern Parameters: bcdRatio : CD/BC ratio err_min : minimum error threshold err_max : maximum error threshold patternArray : Array containing pattern check flags. Checks are made only if flags are true. Upon check flgs are overwritten. scan_xad_xcd(xadRatio, xcdRatio, err_min, err_max, patternArray) Checks if xad or xcd ratio is in range of any harmonic pattern Parameters: xadRatio : AD/XA ratio xcdRatio : CD/XC ratio err_min : minimum error threshold err_max : maximum error threshold patternArray : Array containing pattern check flags. Checks are made only if flags are true. Upon check flgs are overwritten. isHarmonicPattern(x, a, b, c, d, flags, errorPercent) 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 errorPercent : Error threshold Returns: Array of boolean values which says whether valid pattern exist and array of corresponding pattern names isHarmonicProjection(x, a, b, c, flags, errorPercent) 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 errorPercent : Error threshold Returns: Array of boolean values which says whether valid pattern exist and array of corresponding pattern names. get_prz_range(x, a, b, c, patternArray, errorPercent, start_adj, end_adj) 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 Returns: Start and end of consolidated PRZ range get_prz_range_xad(x, a, b, c, patternArray, errorPercent, start_adj, end_adj) 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 Returns: Start and end of consolidated PRZ range

Library

Historical Range (Using eStrategy library)⬜ The script is intended to cover few things. ▶ Strategy testing framework based on eStrategy library ▶ Using historicalrange of values for identifying better entry and exits. This is also built on top of the Systematic Investment Plan script published here ⬜ Strategy testing framework Strategy testing framework is different from pulsewire default strategy testing from few ways to suit the needs of systematic investments. ▶ Supports recurring investment on top of initial investment to emulate adding further funds to the investment bucket on regular basis. ▶ Better calculation of drawdowns based on daily equity rather than drawdown calculated only on close of trade. ▶ Provides better control over how much strategy can reduce and reload Having said that, this framework is not intended as replacement for pulsewire strategy framework. It is not as comprehensive as pulsewire strategy framework. But, created to address few specific styles of strategy. ▶ No detailed trade stats on individual trades. But, this can be implemented in future versions ▶ At present only facilitates long positions. ▶ UI features such as plotting trades on chart are not available. ▶ Does not take into consideration of slippage and brokerage - this is not an issue because the framework is not meant for short term trades. It is only made for daily timeframes. ▶ No pyramiding or leverage possible. And many more... Framework can be used for similar strategies based on market timing with few small changes. ⬜ Historical Range Strategy Concept here is, instead of taking indicators such as oscillators as is, use historical percentile to derive better oversold and overbought conditions. Strategy provides different options to base historical range. This can either be based on ▶ Band percent ▶ Oscillator Different choices of bands and oscillators are also available to chose. However, have not done extensive testing on all the combinations. ⬜ Settings ▶ Initial and recurring investment settings (As confirm inputs) ▶ Buy and hold and strategy specific settings to be used for stat calculation ▶ Band and oscillator parameters These are straightforward parameters which is used for defining the base of either bands or oscillators. ▶ Percentile moving average parameter Percentile MA is used with Percentile to find entry and exit signals based on crossover and crossunder. Feedbacks and suggestions welcome.

Indicator

eStrategy Library "eStrategy" Library contains methods which can help build custom strategy for continuous investment plans and also compare it with systematic buy and hold. sip(startYear, initialDeposit, depositFrequency, recurringDeposit, buyPrice) Depicts systematic buy and hold over period of time Parameters: startYear : Year on which SIP is started initialDeposit : Initial one time investment at the start depositFrequency : Frequency of recurring deposit - can be monthly or weekly recurringDeposit : Recurring deposit amount buyPrice : Indicatinve buy price. Use high to be conservative. low, close, open, hl2, hlc3, ohlc4, hlcc4 are other options. Returns: totalInvestment - initial + recurring deposits totalQty - Quantity of units held for given instrument totalEquity - Present equity customStrategy(startYear, initialDeposit, depositFrequency, recurringDeposit, buyPrice, sellPrice, initialInvestmentPercent, recurringInvestmentPercent, signal, tradePercent) Allows users to define custom strategy and enhance systematic buy and hold by adding take profit and reloads Parameters: startYear : Year on which SIP is started initialDeposit : Initial one time investment at the start depositFrequency : Frequency of recurring deposit - can be monthly or weekly recurringDeposit : Recurring deposit amount buyPrice : Indicatinve buy price. Use high to be conservative. low, close, open, hl2, hlc3, ohlc4, hlcc4 are other options. sellPrice : Indicatinve sell price. Use low to be conservative. high, close, open, hl2, hlc3, ohlc4, hlcc4 are other options. initialInvestmentPercent : percent of amount to invest from the initial depost. Keep rest of them as cash recurringInvestmentPercent : percent of amount to invest from recurring deposit. Keep rest of them as cash signal : can be 1, -1 or 0. 1 means buy/reload. -1 means take profit and 0 means neither. tradePercent : percent of amount to trade when signal is not 0. If taking profit, it will sell the percent from existing position. If reloading, it will buy with percent from cash reserve Returns: totalInvestment - initial + recurring deposits totalQty - Quantity of units held for given instrument totalCash = Amount of cash held totalEquity - Overall equity = totalQty*close + totalCash

Library

Systematic Investment Plan Tradingview default strategy tester has few limitations. To name some: Tradingview default strategy tester does not have option for periodic investment. Does not allow reduce and refill kind of operations. Comparison to buy and hold equity does not take into consideration on number of days invested Hence, I created this as base for my further experiments with respect to strategies involving market timing. Settings are quite simple and self explanatory.

Indicator

historicalrange Library "historicalrange" Library provices a method to calculate historical percentile range of series. hpercentrank(source) calculates historical percentrank of the source Parameters: source : Source for which historical percentrank needs to be calculated. Source should be ranging between 0-100. If using a source which can beyond 0-100, use short term percentrank to baseline them. Returns: pArray - percentrank array which contains how many instances of source occurred at different levels. upperPercentile - percentile based on higher value lowerPercentile - percentile based on lower value median - median value of the source max - max value of the source distancefromath(source) returns stats on historical distance from ath in terms of percentage Parameters: source : for which stats are calculated Returns: percentile and related historical stats regarding distance from ath distancefromma(maType, length, source) returns stats on historical distance from moving average in terms of percentage Parameters: maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median length : Moving Average Length source : for which stats are calculated Returns: percentile and related historical stats regarding distance from ath bpercentb(source, maType, length, multiplier, sticky) returns percentrank and stats on historical bpercentb levels 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: percentile and related historical stats regarding Bollinger Percent B kpercentk(source, maType, length, multiplier, useTrueRange, sticky) returns percentrank and stats on historical kpercentk levels 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: percentile and related historical stats regarding Keltener Percent K dpercentd(useAlternateSource, alternateSource, length, sticky) returns percentrank and stats on historical dpercentd levels 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: percentile and related historical stats regarding Donchian Percent D 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: percentile and related historical stats regarding oscillator

Library

Manual Harmonic Projections - With interactive inputs This is another script involving interactive inputs. This is similar to Manual-Harmonic-Patterns-With-interactive-inputs . But, instead of taking XABCD and verifying if it confirms to any pattern, here we only take XABC and project all PRZs. Example, upon adding the script to chart, it will prompt to select 4 points on chart by clicking on it. if we select X, A, B, C as shown in the chart below, we can see the projection of multiple PRZs. Mid of nearest PRZ is considered as D and rest of the pattern is drawn based on this. However, the pattern can have multiple PRZs. All overlapping PRZs are combined together and shown as one along with merged pattern labels. But, if there is gap between PRZs, they are shown separately. If no projections found, then patterns and projections are not drawn. However, you can still see XABC lines on the chart.

Indicator

Manual Harmonic Patterns - With interactive inputs This script is a drawing tool which allows users to draw XABCD on the chart and script will tell whether there is any harmonic patterns on the drawings made. The script is based on interactive inputs and requires users to chose XABCD points. Please note This is not a scanner and it will not scan historical bars for harmonic patterns. This needs to be used rather as drawing tool instead. Script will not check if selected pivots are correct. It assumes users to know how to select the right XABCD based on pivot high/lows. Bullish pattern will have X, B and D as pivot lows and A,C as pivot highs. Similarly bearish patterns will have X, B, D as pivot highs and A, C as pivot lows. Script will not check for overflow conditions. For example, if price crosses, XB or BD line, then pattern is considered to be invalid. But, this check cannot be made in this script and we require users to be aware of this condition and select input accordingly. Order of inputs should be in ascending order. X pivot should come before A and then, B, C, D and F. This again is users responsibility to select pivots in right order. What happens after selecting XABCD? If selected pattern is valid harmonic pattern, it will Draw XABCD lines and labels Fill harmonic triangles Show PRZ box which shoes the name of valid patterns. If it is not valid harmonic pattern, then users will see blank XABCD line without any PRZ or filled harmonic triangles. Example: 1. When it is valid pattern 2. When it is not valid pattern

Indicator

In-depth global business and economic analysis Comprehensive trading education and market insights