This indicator calculates the distribution of close-to-close percentage changes using rate of change on closing prices. It bins percentage changes into intervals of 0.25 percent increments from negative to positive values and plots a normalized cumulative hist
Indicator · Pine Script v4 · Own pane
Test-033-Distribution
This indicator measures the absolute bar-to-bar change of the close and tracks the smallest and largest of those changes seen so far.
GitHub stars261on the repository
Pine versionv4older, still runs
Lines of code33
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
33 lines of Pine Script v4 from beta/arrays/test-033-distribution.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(title="test-033-distribution", max_bars_back=501)
var float max_range = 0.0
var float min_range = 0.0
float range = abs(change(close))//atr(14)
float avg_range = cum(range) / (bar_index + 1)
if bar_index > 14
max_range := max(range, max_range)
min_range := min(range, min_range)
else
max_range := range
min_range := range
int rate = int((range - min_range) / (max_range - min_range) * 100)
int length = input(500)
var int[] distribution = array.new_int(size=101, initial_value=0)
if barstate.islast and bar_index > length
for _i = 0 to length
array.set(id=distribution, index=rate[_i], value=array.get(id=distribution, index=rate[_i]) + 1)
t = tostring(distribution)
var label la = label.new(bar_index, 0.0, '')
label.set_xy(id=la, x=bar_index, y=0.0)
label.set_text(id=la, text=t)
Overview
Test-033-Distribution maps each change onto a 0 to 100 scale between that minimum and maximum, then, on the last bar only, counts how often each integer rate occurred over the most recent bars. The single input sets how many bars enter the count. It draws the resulting 101-bin tally as text in a label in a separate pane and does not plot price signals or trade rules.
- Absolute close-to-close change
- Running minimum and maximum range
- 0 to 100 scaled rate
- 101-bin count over input length
- Label showing the distribution array
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
Volatility & bands
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 | 500 | 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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