rangeBreakout

Library "rangeBreakout"

markRange(trackTimePeriod, drawTimePeriod, highLineColor, lowLineColor, middleLineColor, maxLookbackDays)

Parameters:
trackTimePeriod (simple string): - Time range for which the high and low values are tracked. This is the range; any breakout above/below this period can indicate a potential long/short entry condition.

drawTimePeriod (simple string): - Time range for which the range is valid, this is typically from the end of the `trackTimePeriod` to the end of the day (or session) for security.

highLineColor (color)
lowLineColor (color)
middleLineColor (color)
maxLookbackDays (simple int): - Number of historic days to retain the range value.

Returns: [rangeHi, rangeLo, inTrackRange] - Values to print the range values, and a boolean indicator that indicates if the current time is within the tracking time period.

The library can then be forward integrated into other indicators, strategies, and other libraries of TradingView, thus one function can be used globally.

Release Notes

v2

Added:
volumeConfirmation(trackTimePeriod, drawTimePeriod, maxLookbackDays, volumeLength, volumeMultiplier)
Parameters:
trackTimePeriod (simple string): - Time range for which the high and low
values are tracked. This is the range, any breakout above/below
this period can indicate a potential long/short entry condition.

drawTimePeriod (simple string): - Time range for which the range is valid,
this is typically from the end of the `trackTimePeriod` to the
end of the day (or session) for the security.

maxLookbackDays (simple int): - Number of historic days to retain the
range value.

volumeLength (simple int)
volumeMultiplier (simple float)
Returns: [rangeHi, rangeLo, inTrackRange] - Values to print the
range values, and boolean indicator that indicates if the current
time is within the tracking time period.
------------------------------------------------------------------

Release Notes

v3

Fixed duplication of signal; if already short/long position is taken then avoid signal on the same trading day.

Release Notes

v5

Updated:
markRange(trackTimePeriod, drawTimePeriod, highLineColor, lowLineColor, middleLineColor, maxLookbackDays, volumeLength, volumeMultiplier)
Parameters:
trackTimePeriod (simple string): - Time range for which the high and low
values are tracked. This is the range, any breakout above/below
this period can indicate a potential long/short entry condition.

drawTimePeriod (simple string): - Time range for which the range is valid,
this is typically from the end of the `trackTimePeriod` to the
end of the day (or session) for the security.

highLineColor (color)
lowLineColor (color)
middleLineColor (color)
maxLookbackDays (simple int): - Number of historic days to retain the
range value.

volumeLength (simple int)
volumeMultiplier (simple float)
Returns: [rangeHi, rangeLo, inTrackRange] - Values to print the
range values, and boolean indicator that indicates if the current
time is within the tracking time period.
------------------------------------------------------------------

Removed:
volumeConfirmation(trackTimePeriod, drawTimePeriod, maxLookbackDays, volumeLength, volumeMultiplier)

Release Notes

v6

Added:
volumeConfirmation(trackTimePeriod, drawTimePeriod, maxLookbackDays, volumeLength, volumeMultiplier)
Parameters:
trackTimePeriod (simple string): - Time range for which the high and low
values are tracked. This is the range, any breakout above/below
this period can indicate a potential long/short entry condition.

drawTimePeriod (simple string): - Time range for which the range is valid,
this is typically from the end of the `trackTimePeriod` to the
end of the day (or session) for the security.

maxLookbackDays (simple int): - Number of historic days to retain the
range value.

volumeLength (simple int)
volumeMultiplier (simple float)
Returns: [rangeHi, rangeLo, inTrackRange] - Values to print the
range values, and boolean indicator that indicates if the current
time is within the tracking time period.
------------------------------------------------------------------

Updated:
markRange(trackTimePeriod, drawTimePeriod, highLineColor, lowLineColor, middleLineColor, maxLookbackDays)
Parameters:
trackTimePeriod (simple string): - Time range for which the high and low
values are tracked. This is the range, any breakout above/below
this period can indicate a potential long/short entry condition.

drawTimePeriod (simple string): - Time range for which the range is valid,
this is typically from the end of the `trackTimePeriod` to the
end of the day (or session) for the security.

highLineColor (color)
lowLineColor (color)
middleLineColor (color)
maxLookbackDays (simple int): - Number of historic days to retain the
range value.

Returns: [rangeHi, rangeLo, inTrackRange] - Values to print the
range values, and boolean indicator that indicates if the current
time is within the tracking time period.
------------------------------------------------------------------

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.

ZenithClown

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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

ZenithClown

Also on: