PINE LIBRARY
AvwapLib
Library "AvwapLib"
Shared functions: AVWAP, stage classification, position sizing,
swing detection, and risk helpers. Used by all strategy() scripts.
NOTE: rs_vs_spy() cannot live here (request.security() banned in
library exports) — each strategy implements it inline.
avwap(src, anchor_bar, max_lookback)
Anchored VWAP from a specific bar to current bar.
Uses loop approach with bounded max_lookback for robustness.
Parameters:
src (float): Source price (typically hlc3)
anchor_bar (int): Bar index of anchor point (from find_swing_high/low)
max_lookback (simple int): Maximum bars to look back (cap for performance, default 500 ~2yr daily)
Returns: AVWAP value, or na if anchor invalid or out of range
avwap_slope(avwap_val, lookback)
AVWAP slope — rate of change over lookback period.
Parameters:
avwap_val (float): AVWAP series
lookback (simple int): Number of bars for slope calculation
Returns: Slope (positive = rising, negative = falling), or na
dcr()
Daily Closing Range — where price closed within the bar's range.
Returns: DCR as percentage (0 = closed at low, 100 = closed at high)
rvol(period)
Relative Volume — current bar volume vs historical average.
Uses volume[1] offset to avoid including current bar in average.
Parameters:
period (simple int): Lookback period for average calculation
Returns: RVOL ratio (>1 = above average)
is_stage2()
Stage 2 check (simplified Weinstein model).
Conditions: price > SMA50, SMA50 rising (vs 10 bars ago), price > SMA200.
Returns: true if all Stage 2 conditions met
calc_shares(entry, stop, risk_pct, equity)
Position size: shares = floor(equity * risk% / risk_per_share).
Parameters:
entry (float): Entry price
stop (float): Stop-loss price
risk_pct (float): Risk as decimal (0.01 = 1%)
equity (float): Account equity
Returns: Number of shares (integer), 0 if invalid
rr_valid(entry, stop, target, min_rr)
Validate risk/reward ratio meets minimum threshold.
Parameters:
entry (float): Entry price
stop (float): Stop-loss price
target (float): Target price
min_rr (float): Minimum required R:R (e.g., 2.0 for 1:2)
Returns: true if R:R >= min_rr
confirmed()
Returns true only on confirmed (closed) bars.
MUST gate every entry/exit signal to prevent repainting.
Returns: true if bar is confirmed
find_swing_high(strength)
Bar index of the most recent confirmed swing high.
Uses ta.pivothigh — confirmed 'strength' bars after the actual high.
Result persists (via var) until a new swing high is detected.
Parameters:
strength (simple int): Number of bars required on each side to confirm pivot
Returns: Bar index of last swing high, or na if none found yet
find_swing_low(strength)
Bar index of the most recent confirmed swing low.
Uses ta.pivotlow — confirmed 'strength' bars after the actual low.
Result persists (via var) until a new swing low is detected.
Parameters:
strength (simple int): Number of bars required on each side to confirm pivot
Returns: Bar index of last swing low, or na if none found yet
Shared functions: AVWAP, stage classification, position sizing,
swing detection, and risk helpers. Used by all strategy() scripts.
NOTE: rs_vs_spy() cannot live here (request.security() banned in
library exports) — each strategy implements it inline.
avwap(src, anchor_bar, max_lookback)
Anchored VWAP from a specific bar to current bar.
Uses loop approach with bounded max_lookback for robustness.
Parameters:
src (float): Source price (typically hlc3)
anchor_bar (int): Bar index of anchor point (from find_swing_high/low)
max_lookback (simple int): Maximum bars to look back (cap for performance, default 500 ~2yr daily)
Returns: AVWAP value, or na if anchor invalid or out of range
avwap_slope(avwap_val, lookback)
AVWAP slope — rate of change over lookback period.
Parameters:
avwap_val (float): AVWAP series
lookback (simple int): Number of bars for slope calculation
Returns: Slope (positive = rising, negative = falling), or na
dcr()
Daily Closing Range — where price closed within the bar's range.
Returns: DCR as percentage (0 = closed at low, 100 = closed at high)
rvol(period)
Relative Volume — current bar volume vs historical average.
Uses volume[1] offset to avoid including current bar in average.
Parameters:
period (simple int): Lookback period for average calculation
Returns: RVOL ratio (>1 = above average)
is_stage2()
Stage 2 check (simplified Weinstein model).
Conditions: price > SMA50, SMA50 rising (vs 10 bars ago), price > SMA200.
Returns: true if all Stage 2 conditions met
calc_shares(entry, stop, risk_pct, equity)
Position size: shares = floor(equity * risk% / risk_per_share).
Parameters:
entry (float): Entry price
stop (float): Stop-loss price
risk_pct (float): Risk as decimal (0.01 = 1%)
equity (float): Account equity
Returns: Number of shares (integer), 0 if invalid
rr_valid(entry, stop, target, min_rr)
Validate risk/reward ratio meets minimum threshold.
Parameters:
entry (float): Entry price
stop (float): Stop-loss price
target (float): Target price
min_rr (float): Minimum required R:R (e.g., 2.0 for 1:2)
Returns: true if R:R >= min_rr
confirmed()
Returns true only on confirmed (closed) bars.
MUST gate every entry/exit signal to prevent repainting.
Returns: true if bar is confirmed
find_swing_high(strength)
Bar index of the most recent confirmed swing high.
Uses ta.pivothigh — confirmed 'strength' bars after the actual high.
Result persists (via var) until a new swing high is detected.
Parameters:
strength (simple int): Number of bars required on each side to confirm pivot
Returns: Bar index of last swing high, or na if none found yet
find_swing_low(strength)
Bar index of the most recent confirmed swing low.
Uses ta.pivotlow — confirmed 'strength' bars after the actual low.
Result persists (via var) until a new swing low is detected.
Parameters:
strength (simple int): Number of bars required on each side to confirm pivot
Returns: Bar index of last swing low, or na if none found yet
Pine library
In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in publications is governed by House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Pine library
In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in publications is governed by House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.