Best Scripts of the Month — 2020.04
We present you with our selection from the open-source indicators published this month on TradingView. These scripts are the ones that caught our attention while analyzing the two thousand or so scripts published each month in TradingView's Public Library, the greatest repository of indicators in the world. If we missed any, please let us know. Most of these scripts were selected on the basis of their potential to be useful in trading; others will be more useful to Pine coders.
This superb body of work constitutes unmistakable proof of the liveliness, ingenuity, and relentless creativity of the generous traders/programmers who not only give their time to write amazing scripts, but share their code with the world. Kudos to these very special humans.
Enjoy!
(JS) Squeeze Pro Overlays
J-Streak presents an overlay Squeeze indicator with lots of options.
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Trend Following MAs 3D
LonesomeTheBlue publishes a 3D visualization of delta MAs.
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Auto Adjust To Ideal Pearson's R Oscillator
x11joe combines a long and short-term Pearson's R oscillator.
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Fancy Triple Moving Averages [BigBitsIO]
BigBitsIO creates a rare MA script bringing something original to the Library. His MAs can be calculated from different chart types, among other goodies such as forecasting.
![Fancy Triple Moving Averages [BigBitsIO]](https://s3.tradingview.com/7/7emR6ckb_mid.png)
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LUBE
We rarely include strategies in our list because authors rarely show realistic results, but the logic used in this script by Jomy was compelling and original enough for us this time.
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Williams Fractal Trailing Stops
SimpleCryptoLife revisits Williams Fractals, using them to derive stops in a generously commented script.
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COVID Statistics Tracker & Model Projections by Cryptorhythms
theheirophant's script has to be the most complete COVID tracker we've seen so far, and it's open source.
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Enhanced Time Segmented Volume
eylwithsteph publishes this, and two other takes on a well-presented volume and price balance indicator.
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Fearzone Panel
kruskakli presents an indicator of Swedish origin that attempts to identify areas where trader fear has taken over.
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Dynamic Money Flow
RezzaHmt publishes an adapted version of the Chaikin Money Flow Index with improvements he explains well and make sense to us.
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inwCoin Martingale Strategy ( for Bitcoin )
This is an educational strategy by Real_inwCoin showing how dangerous the Martingale position-sizing strategy is.
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SPY Expected Move by VIX
LazySprinter presents a tool projecting possible moves of SPY-correlated markets using VIX.
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Gap Filling Strategy
alexgrover presents a gap-based strategy with his usual rigor. It's refreshing to see an author who understands backtesting and the inherent incompleteness of single test runs presented on a single symbol/timeframe pair with a given set of parameters. Accordingly, Alex goes through the results of a few different test runs with the objective of, rather than finding the one with the splashiest results, understanding the characteristics of his strategy. We wish more strategies were presented this way by authors.
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Yield Curve Percent Inverted
nj_guy72 publishes an indicator analyzing inverted T-Bond yield spreads. They normally indicate a relative lack of confidence in the short-term vs the long-term outlook, which in turn can predate recessions.
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[e2]Absolute Retracement
Clear code and impeccable visuals are e2e4mfck's trademark. This publication is no exception. It includes many options to calculate and display SR levels.
![[e2] Absolute Retracement](https://s3.tradingview.com/x/X87V5IBs_mid.png)
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Pivot Point Supertrend
LonesomeTheBlue's original take on SuperTrend. It's using weighted past pivots to determine starting levels and calculations aimed at keeping traders in trends longer, so more generous than the usual SuperTrend. It also has a slew of options to help traders, including SR levels.
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Bar Balance [LucF]
LucF mines up/down/neutral intrabars and calculates their balance to show the strength of price movements.
![Bar Balance [LucF]](https://s3.tradingview.com/l/lcgCwWwI_mid.png)
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█ CODER UTILITIES
Nth-Occurrence Custom barssince() Function by Cryptorhythms [CR]
Aha moments are what make progress possible. theheirophant brings Pine coders one of those moments with this function that allows you to get the number of bars since the nth occurrence of an event.
![Nth-Occurrence Custom barssince() Function by Cryptorhythms [CR]](https://s3.tradingview.com/l/lfp742sn_mid.png)
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Filter Information Box - PineCoders FAQ
alexgrover gives coders a tool to evaluate signal-processing filters.
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Function Highest/Lowest by PeterO
Peter_O publishes functions allowing coders to get the highest/lowest values since a condition occurred.
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FUNCTION: Specify lengths in time (or bars)
yatrader2 gives coders a function to derive periods from time lengths.
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Heikin-Ashi Source Function
allanster has a history of pumping out great little snippets you will see reused all over the place. We'll bet on the usual outcome for this one.
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Z-Histogram
alexgrover presents a Z-Score histogram that is not only useful, but is also an exercise in conciseness, in typical alexgrover fashion.
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[RESEARCH] Symbol Info Helper
This helper code by everget shows the breadth of information now available on symbols in Pine, but also demonstrates an efficient and elegant way of handling label code to display an information panel. We somehow missed this in March.
![[RESEARCH] Symbol Info Helper](https://s3.tradingview.com/o/Os0K9RvL_mid.png)
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Pseudo-Random Number Generators via Pine Script
midtownsk8rguy gives us three pseudo-random number generators.
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This superb body of work constitutes unmistakable proof of the liveliness, ingenuity, and relentless creativity of the generous traders/programmers who not only give their time to write amazing scripts, but share their code with the world. Kudos to these very special humans.
Enjoy!
(JS) Squeeze Pro Overlays
J-Streak presents an overlay Squeeze indicator with lots of options.
═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═•═
Trend Following MAs 3D
LonesomeTheBlue publishes a 3D visualization of delta MAs.
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Auto Adjust To Ideal Pearson's R Oscillator
x11joe combines a long and short-term Pearson's R oscillator.
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Fancy Triple Moving Averages [BigBitsIO]
BigBitsIO creates a rare MA script bringing something original to the Library. His MAs can be calculated from different chart types, among other goodies such as forecasting.
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LUBE
We rarely include strategies in our list because authors rarely show realistic results, but the logic used in this script by Jomy was compelling and original enough for us this time.
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Williams Fractal Trailing Stops
SimpleCryptoLife revisits Williams Fractals, using them to derive stops in a generously commented script.
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COVID Statistics Tracker & Model Projections by Cryptorhythms
theheirophant's script has to be the most complete COVID tracker we've seen so far, and it's open source.
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Enhanced Time Segmented Volume
eylwithsteph publishes this, and two other takes on a well-presented volume and price balance indicator.
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Fearzone Panel
kruskakli presents an indicator of Swedish origin that attempts to identify areas where trader fear has taken over.
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Dynamic Money Flow
RezzaHmt publishes an adapted version of the Chaikin Money Flow Index with improvements he explains well and make sense to us.
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inwCoin Martingale Strategy ( for Bitcoin )
This is an educational strategy by Real_inwCoin showing how dangerous the Martingale position-sizing strategy is.
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SPY Expected Move by VIX
LazySprinter presents a tool projecting possible moves of SPY-correlated markets using VIX.
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Gap Filling Strategy
alexgrover presents a gap-based strategy with his usual rigor. It's refreshing to see an author who understands backtesting and the inherent incompleteness of single test runs presented on a single symbol/timeframe pair with a given set of parameters. Accordingly, Alex goes through the results of a few different test runs with the objective of, rather than finding the one with the splashiest results, understanding the characteristics of his strategy. We wish more strategies were presented this way by authors.
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Yield Curve Percent Inverted
nj_guy72 publishes an indicator analyzing inverted T-Bond yield spreads. They normally indicate a relative lack of confidence in the short-term vs the long-term outlook, which in turn can predate recessions.
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[e2]Absolute Retracement
Clear code and impeccable visuals are e2e4mfck's trademark. This publication is no exception. It includes many options to calculate and display SR levels.
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Pivot Point Supertrend
LonesomeTheBlue's original take on SuperTrend. It's using weighted past pivots to determine starting levels and calculations aimed at keeping traders in trends longer, so more generous than the usual SuperTrend. It also has a slew of options to help traders, including SR levels.
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Bar Balance [LucF]
LucF mines up/down/neutral intrabars and calculates their balance to show the strength of price movements.
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█ CODER UTILITIES
Nth-Occurrence Custom barssince() Function by Cryptorhythms [CR]
Aha moments are what make progress possible. theheirophant brings Pine coders one of those moments with this function that allows you to get the number of bars since the nth occurrence of an event.
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Filter Information Box - PineCoders FAQ
alexgrover gives coders a tool to evaluate signal-processing filters.
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Function Highest/Lowest by PeterO
Peter_O publishes functions allowing coders to get the highest/lowest values since a condition occurred.
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FUNCTION: Specify lengths in time (or bars)
yatrader2 gives coders a function to derive periods from time lengths.
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Heikin-Ashi Source Function
allanster has a history of pumping out great little snippets you will see reused all over the place. We'll bet on the usual outcome for this one.
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Z-Histogram
alexgrover presents a Z-Score histogram that is not only useful, but is also an exercise in conciseness, in typical alexgrover fashion.
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[RESEARCH] Symbol Info Helper
This helper code by everget shows the breadth of information now available on symbols in Pine, but also demonstrates an efficient and elegant way of handling label code to display an information panel. We somehow missed this in March.
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Pseudo-Random Number Generators via Pine Script
midtownsk8rguy gives us three pseudo-random number generators.
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Tools and ideas for all Pine coders: pinecoders.com
Our Pine FAQ & Code: pinecoders.com/faq_and_code/
Pine news broadcasts: t.me/PineCodersSquawkBox or twitter.com/PineCoders
Our Pine FAQ & Code: pinecoders.com/faq_and_code/
Pine news broadcasts: t.me/PineCodersSquawkBox or twitter.com/PineCoders
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