Daveatt

Customizable Trend Direction (Open-Source)

Hello everyone

I received a ton of requests for this script so I decided to share it

I did it for a client who didn't want to pay (you can all blame... or even thank him for this script) in the end and I don't want to sell it on my website.
Not because it's not interesting but because my website will be a place to showcase and rent the Algorithm Builders mostly


What is it about?


Basically, it shows how you could convert a plotshape into a label.new object. Very interesting if you want someday to convert your V3 script into V4
With this script, it shows that you can in V4 (but couldn't do in V3) do the followings :

- change dynamically the size (from tiny to huge) of any object
- change dynamically the text (from whatever to whatever) of any object


Screenshot of the user interface

https://imgur.com/a/2pv5kXX


Other use cases

I did it with the Trend Direction but could work with anything really.

- Any indicator with a visual signal. You can know personalized from a user interface the text, size and also the vertical shift. I didn't do it for that one but label.new takes a (x,y) coordinates so playing with y is fairly easy to achieve a dynamic vertical shift

- Even with this script Plotchar-How-to-draw-external-symbols-on-a-chart/ but would require to be updated with a label.new object and with a shape.none parameter so that we'll only see the icon/symbol displayed

- The colors also can be change dynamically using presets Presets-Selector-FRIDAY-NIGHT-CHALLENGE/. If you have an indicator showing a BULLISH and a BEARISH signal, then you could, for instance, configure colors presets according to the timeframe of the chart or the indicator input, etc (sky is the limit ^^)

Be sure to hit the thumbs up at it motivates me to research what Pinescript can offer and share with the community

Dave

____________________________________________________________


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Comentários

Thanks for the script :)
+1 Resposta
Daveatt simonf1
@simonf1, you're welcome Simon
Resposta
I THINK YOU SHOULD REMOVE ALL OPEN AND CALLCULATE BY ALL PCLOSE
YOU WILL GET SUPER RESULTS
Resposta
Daveatt patel.sagarinn
@patel.sagarinn, Hey Patel
The indicator calculates a higher high or lower low break.
Detecting that trendline break on a close might give a signal too late
What do you think?
Resposta
@Daveatt, is this profitable in a backtest?
Resposta
Daveatt dpanday
@dpanday, Any single indicator might be profitable in backtest but WILL NEVER be profitable in real trading. It needs to be used along others to provide better risk/money management and more security
Resposta
Daveatt dpanday
@dpanday, it is but it lacks a few filters. Combined with other indicators to detect a strong convergence, could be :)
Resposta
dose it REPAINT ?
Resposta
Daveatt vikkranntshah
@vikkranntshah, I'm sure it does not repaint. It's coded as such. Do you believe it's repainting ?
Resposta
@Daveatt, no i just asked before trying it out
Resposta
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