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PINE LIBRARY

lib_priceaction

By robbatt
Updated
Library "lib_priceaction"
a library for everything related to price action, starting off with displacements

displacement(len, min_strength, o, c)
  calculate if there is a displacement and how strong it is
  Parameters:
    len (int): The amount of candles to consider for the deviation
    min_strength (float): The minimum displacement strength to trigger a signal
    o (float): The source series on which calculations are based
    c (float): The source series on which calculations are based
  Returns: a tuple of (bool signal, float displacement_strength)
Release Notes
v2 tweaked formula

Updated:
displacement(len, min_strength, o, c)
  calculate if there is a displacement and how strong it is
  Parameters:
    len (int): The amount of candles to consider for the deviation
    min_strength (float): The minimum displacement strength to trigger a signal
    o (float): The source series on which calculations are based
    c (float): The source series on which calculations are based
  Returns: a tuple of (bool signal, float displacement_strength)
Release Notes
v3, removed rounding
Release Notes
v4
Release Notes
v5 added functions to calculate retracement ratio AND target price for given ratio

Added:
retracement_ratio(price_start, price_end, price_retracement)
  calculate a ratio how far a price has retraced compared to a move between two reference levels
  Parameters:
    price_start (float): The start price level of the reference move
    price_end (float): The end price level of the reference move
    price_retracement (float): The retraced price level
  Returns: the retracement ratio (float, always positive) or na if one of the inputs was na

target_ratio_price(price_start, price_end, target_ratio)
  calculate a ratio how far a price has retraced compared to a move between two reference levels
  Parameters:
    price_start (float): The start price level of the reference move
    price_end (float): The end price level of the reference move
    target_ratio (float): The target retracement ratio (must be positive)
  Returns: the retracement target ratio price level (float) or na if one of the inputs was na
Release Notes
v6

Added:
in_range(x, a, b)
  check if a price is in a certain range, e.g. to check if price reached a target zone
  Parameters:
    x (float): the price variable
    a (float): one range limit (sign agnostic)
    b (float): other range limit (sign agnostic)
  Returns: true if x is between a and b (inclusive)

range_overlap(a1, b1, a2, b2)
  check if two price ranges overlap, e.g. to check if a target is price is possible that fits both target zones
  Parameters:
    a1 (float): one limit of range 1
    b1 (float): other limit of range 1
    a2 (float): one limit of range 2
    b2 (float): other limit of range 2
  Returns: true if x is between a and b (inclusive
displacementecosystemlibrarypriceactionstatisticstechindicatortoolkitwizardry

Pine library

In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in a publication is governed by House rules.

robbatt

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