L_Trade_Boundaries

19 Mar 2023

Library "L_Trade_Boundaries"

Trade Boundaries suggest a strength of the security with respect to previous lows. The "L" implies library, and the trade boundaries implies it could be utilized for price strengths. Though, this should not be used as a single parameter to trade wildly. This library can be imported to a custom indicator to utilized the custom functions. There are moving averages attached at the bottom right of the canvas (overlay) to benchmark the closing price with respect to Moving Averages: 20, 28, and 200 (i.e., "D" if timeframe == "D") respectively. The Volume Indicator located at the top of the canvas is a default function (function already made by the trading view) this shows the volume with respect to the selected time frame. All of the indicators tell a story with regard to the security price (in strength terms).


What is available in this Library?
Litmus Color
> This is a function will change color of two numbers, if the first number is less than the second, the color will be red; otherwise, the color will be green.

Lister
> This is simply using an array by revisiting previous lows and plotting to the current time frame (i.e., "D"). There is a custom frequency input for the function, it will go back as much as the implied/specified length. Note: I am still learning how to use array, use this function with discretion. I would also appreciate if there are suggestions commented below.

Moving Average
> This function invokes three moving average metrics: 20, 28, and 200 respectively. The values are displayed at the bottom right of the canvas.

Timeframe Highlight
> This function checks for the input timeframe (i.e., "D", "W", "M") and if the time frame happens to be the same, it will give a "true" result. This result can be utilized for highlighting the positive results on the canvas (the red lines).


litmus_color(value1, value2)
  Parameters:
    value1
    value2

lister(length)
  Parameters:
    length

moving_averages()

timeframe_highlight(timeframe)
  Parameters:
    timeframe

21 Mar 2023

Sürüm Notları

v2
The Highlighter becomes more complex, the new available options are:
1) Hide the Highlight
2) Automatic (this will use the next time frame; i.e., for Daily Time-frame, it will use Weekly Time-frame)
3) Custom Highlights (i.e., Daily, Weekly, Monthly)

New Function called "timeframe_upper()"
This is the automatic version that will use the higher timeframe (i.e., for Daily Time-frame, it will use Weekly Time-frame).
This helps the timeframe set within the default parameter aka 1H that has parameter for daily timeframe.
Added:
timeframe_upper()