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)
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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)
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v3, removed rounding
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v4
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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
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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
Hello admin, can you please share some example how to use these functions? This library looks very useful.Thanks for sharing
robbatt
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Hi @abhimeh2006, the lib is provided as is, the displacement function is used in the example code, the calculation of the retracement ratio or target price I consider a trivial formula, so there's no example provided. Please consider that this ecosystem is for professional developers and only providing basic functionality in a modular way.
This library looks very useful.Thanks for sharing