OPEN-SOURCE SCRIPT
Return (Percent Change)
Updated
This Script displays Regular or Log Returns as either a line or histogram and labels the current bar.
If something other than price is selected as the source, the result is percent change with a positive or negative slope.
If a moving average of price is used as the source, the result is analogous to a strength index
Other options include a look-back period adjustment (the default is 1),
smoothing results by converting to an EMA, and
Bollinger Bands with Length and Standard Deviation inputs.
If something other than price is selected as the source, the result is percent change with a positive or negative slope.
If a moving average of price is used as the source, the result is analogous to a strength index
Other options include a look-back period adjustment (the default is 1),
smoothing results by converting to an EMA, and
Bollinger Bands with Length and Standard Deviation inputs.
Release Notes
Name Shortened to "Return"Release Notes
precision increased to two decimal placesRelease Notes
// This Script displays Regular or Log Returns as either a line or histogram and labels the current bar. // Additionally, an "ArcTan" method is available which allows the slope of a line that crosses zero to be displayed.
// If a moving average of price is used as the source, the result is analogous to a strength index
// Other options include smoothing by converting to an EMA of returns,
// Bollinger Bands with SMA for the Length, and Standard Deviation for the Width.
// When the BB Basis is positive the bands appear green, and when negative they are red.
// if you set the BB basis to one, the color of the BB histogram will indicate the slope only.
Release Notes
Two Decimal Places for Absolute Change LabelRelease Notes
corrected log input type spellingRelease Notes
...Release Notes
Option to display absolute values was added.Bollinger Bands can be toggled on/off.
Release Notes
Script has been updated to allow Return and Basis to be expressed as several different types of moving average. From the Pinescript Reference:sma: The sma function returns the moving average, that is the sum of last y values of x, divided by y.
ema: The ema function returns the exponentially weighted moving average. In ema weighting factors decrease exponentially. It calculates by using a formula: EMA = alpha * x + (1 - alpha) * EMA[1], where alpha = 2 / (y + 1)
wma: The wma function returns weighted moving average of x for y bars back. In wma weighting factors decrease in arithmetical progression.
rma: Moving average used in RSI. It is the exponentially weighted moving average with alpha = 1 / length.
swma: Symmetrically weighted moving average with fixed length: 4. Weights: [1/6, 2/6, 2/6, 1/6].
vwma: The vwma function returns volume-weighted moving average of x for y bars back. It is the same as: sma(x * volume, y) / sma(volume, y)
Bands may be displayed as:
std dev: Standard Deviation (typical multiple value=2)
atr: Average True Range (typical multiple value = 1) RMA of true range. True range is max(high - low, abs(high - close[1]), abs(low - close[1]))
Here's an example show Bi-Weekly Log Returns of the entire history of bitcoin:
Here's an example of Daily Reg Returns in Absolute Price and the indicator being used to show the 30SMA Slope:
Release Notes
Comments and Example updatedCorrected example of Daily Reg Returns in Absolute Price and the indicator being used to show the 30SMA Slope:
Release Notes
Added functionality to magnify basis line (display only)Release Notes
corrected idea imageRelease Notes
formattingRelease Notes
corrected versioningRelease Notes
formattingRelease Notes
Script has been updated to include wicks, so you can now see candles normalized to zero.Two EMA's of the basis also have been added as an option, as well as the ability to magnify the plots (display only).
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.