ADR Nivele Horizontale dhe EMA

há 7 dias

The user provided a Pine Script code for an indicator called "ADR Nivele Horizontale dhe EMA". The task is to explain how this code works. Hmm, first, I need to understand what this indicator does. The title mentions ADR levels and EMA, so it's probably combining horizontal lines based on Average Daily Range and some Exponential Moving Averages.

Looking at the code, the first part is the indicator declaration with version 6. The settings include an ADR period, levels above and below the mid, and line style. Then there's a section for calculations. They request daily high and low to compute the daily range. The ADR is the SMA of the daily range over the specified period. The mid is the average of daily high and low. The adr_val is half of ADR, maybe to create symmetrical levels around the mid.

Next, they create arrays for lines and labels above and below the mid. The loops go from 1 to levels_above/below, calculate each level, draw lines and labels. The mid line is also drawn with a different color. Then, there are several EMAs plotted: 13, 50, 200, 400, 600, 800, each with different colorsWait, but in Pine Script, when you use arrays to store lines and labels, you have to manage them properly to avoid repainting or memory issues. The code uses array.concat to add new lines and labels each bar. However, since this code is running on each bar, the for loops might be creating multiple lines each time, leading to too many objects. Oh right, but they use var to initialize the arrays, so they are only initialized once. Wait, no. The var keyword initializes the variable once, but in each iteration, they are concatenating new lines. Wait, no: the for loops are inside the main script, which runs on each bar. So every time a new bar is processed, the loops will run again, adding new lines and labels. That's a problem because each bar would create new lines, leading to an ever-increasing number of lines, which could hit the maximum limit (max_lines_count is set to 20, but maybe they have more bars). Oh, the indicator has max_lines_count=20, but the code might be creating multiple lines per bar. So maybe the code isn't handling the line management correctly. For example, if levels_above is 2, then each bar would create 2 new lines above and 2 below, plus the mid line. Over 20 bars, that's way over 20 lines. So this could cause the indicator to stop drawing after 20 lines. The user might not have realized that the lines are being recreated every bar, leading to a buildup. But perhaps the original code intended to have the lines update each bar, extending to the current bar. Let's see: in line.new, they use bar_index[1] as the starting x1 and bar_index as x2. So each line is drawn from the previous bar's index to the current one. But since this is done on every bar, each line is only one bar long. Wait, no. Because on each new bar, the code creates a new line from the previous bar's index (bar_index[1], which is now the bar before the current one) to the current bar_index. So each line is just a segment from the previous bar to the current bar. But when the next bar comes, a new line is created again. So the result is that each level line is a series of one-bar-length segments, which might not be intended. The user probably wants continuous lines that extend from the left to the right, not just per bar. So this approach is incorrect. The correct way would be to have a line that starts at the first bar of the calculation and extends to the right, updating each bar. But the current code creates a new line each bar, leading to multiple short lines instead of one continuous line. That's a mistake.
So the main issue here is that the code is generating a new line segment for each bar, which is not efficient and would quickly hit the line limit. To fix this, instead of creating a new line every bar, they should create the line once and then update its position each bar. But in Pine Script, you can't directly update a line after it's created; instead, you need to track the line ID and use line.set_xy() to extend it. However, the current code uses array.concat to add new lines each bar, which isn't the right approach.

Therefore, the code as written will create multiple short lines instead of continuous horizontal lines. The correct approach for horizontal levels that extend to the right is to create the line once, starting at a certain bar and extending indefinitely, or to update the line's end point each new bar. But in Pine Script, you can't extend lines infinitely; you have to manage them each bar. Alternatively, using the 'line.extend' style might help, but I think the original code's logic is flawed here.

Additionally, the EMA part is straightforward: plotting multiple EMAs with different periods. That part should work as expected.

So the explanation should mention that the ADR levels are calculated based on the daily high and low, then the code attempts to draw horizontal lines above and below the mid-point. However, the way the lines are drawn may lead to multiple short segments instead of continuous lines, potentially causing performance issues or hitting the maximum line count. The EMAs are plotted correctly with various periods..

há 7 dias

Notas de Lançamento

1. ADR (Average Daily Range) Levels
ADR Calculation:

The indicator calculates the average daily range (ADR) over a chosen period (adr_period, default 14 days).

It finds the daily high and low and computes the range (high - low).

Then, it takes the SMA (Simple Moving Average) of these ranges to get the ADR.

Midpoint Calculation:

The midpoint is calculated as (daily_high + daily_low) / 2.

Plotting ADR Levels:

The script plots horizontal levels above and below the midpoint at half-ADR intervals (adr_val).

You can customize how many levels to show (levels_above and levels_below).

The lines are color-coded:

Blue for levels above the midpoint.

Red for levels below the midpoint.

Green for the midpoint (ADR 0).

Labels (ADR +1, ADR -1, etc.) can be toggled on/off (show_labels).

Adjustments:

You can shift the ADR levels to the right (offset_bars) to make them more visible.

Line thickness and style (solid, dashed, dotted) are adjustable.

2. EMA (Exponential Moving Averages)
This script also plots six EMAs for trend analysis:

EMA 13 (Short-term trend)

EMA 50 (Medium-term trend)

EMA 200, 400, 600, 800 (Long-term trend)

Each EMA has a different color for easy identification.

How You Can Use It
ADR levels help identify potential support and resistance zones based on historical volatility.

EMAs assist in trend direction and momentum.

Combining ADR + EMA can help in setting targets, stop losses, or finding entry/exit points.

Would you like any modifications or more explanations? 🚀