This indicator plots the Schaff Trend Cycle in a separate pane. It subtracts a slow exponential moving average from a fast one, applies a stochastic cycle twice, and smooths each result to form a 0–100 oscillator. Line color follows the slope, or the upper and
Indicator · Pine Script v4 · Own pane
Test 010 Linearity
This experimental script calculates a custom linearity metric using rolling historical close price data stored in a fixed-size array.
GitHub stars261on the repository
Pine versionv4older, still runs
Lines of code30
Settings1inputs
LicenceNone statedfile: MPL-2.0
Last update4 years ago13 Nov 2021
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
30 lines of Pine Script v4 from beta/arrays/test-010-linearity.pinescript, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © RicardoSantos
//@version=4
study("test-010-linearity", overlay=false)
int length = input(10)
var float[] prices = array.new_float(size=length, initial_value=open)
e = array.remove(id=prices, index=0)
array.push(id=prices, value=close)
// float[] copy = array.copy(id=prices)
// array.sort(id=copy, order=true)
float start_value = e//array.sum(id=copy) / length
float lin = 0.0
for _i = length-1 to 0
float _a = 1 / (1 + _i)
lin := (lin) + (array.get(id=prices, index=_i) - start_value) * _a
// plot(lin)
// plot(e)
color col = lin > 0 ? color.green : color.red
// var line li = line.new(x1=bar_index, y1=0.0, x2=bar_index, y2=0.0, extend=extend.none, width=2)
// line.set_xy1(id=li, x=bar_index[length], y=start_value)
// line.set_xy2(id=li, x=bar_index[0], y=start_value + lin)
// line.set_color(id=li, color=col)
barcolor(col)
plot(lin)//, display=display.none)
Overview
Test 010 Linearity computes a weighted sum of price differences relative to the oldest price held in the array buffer. The script plots the resulting linearity value in a separate pane and colors the price chart bars green when the metric is positive and red when negative. The main length setting adjusts the array window size.
- Rolling array buffer price tracking
- Weighted price difference calculation
- Dynamic chart bar coloring
- Adjustable lookback length input
Details
Published by
ricardosantos79 on GitHub
Code credit
RicardoSantos, as written in the script's header
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Trend, Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| length | int | 10 | length |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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