PINE LIBRARY
OMSF_Education_Lib
To keep the codebase of the OMSF Learning Space indicator cleanly structured, easy to read, and as concise as possible, I have extracted core calculations and logic functions into this reusable library. This keeps the main script lightweight while allowing you to flexibly utilize these individual building blocks for your own custom scripts and quantitative experiments.
Extracted Functions & Modules
1. pivot_fun – Pivot Analytics & Trend State
2. dir_kaufman_eff_ratio – Directional Kaufman Efficiency Ratio (KER)
3. ker_marketstructure_validation – KER Market Structure Validation
4. max_excurs_ratio – MFE / MAE Analytics
5. vis_mfe_mae_ratio_long & vis_mfe_mae_ratio_short – Visualization Components
📌 Coming next:
OMSF Learning Space Update: Chapter 5 MFE/MAE. (tradingview.com/script/KYJoMqb1-OMSF-Learning-Space/)
Best regards, arni
Extracted Functions & Modules
1. pivot_fun – Pivot Analytics & Trend State
- Derivatives of the classic Pivot High/Low concept to identify key structural highs and lows using configurable confirmation lookback windows.
- Provides continuously updated persistent pivot levels, running extreme levels, and a clean trend state machine (1 = Long, -1 = Short) along with standard pivot lag metrics (avg_std_delay).
2. dir_kaufman_eff_ratio – Directional Kaufman Efficiency Ratio (KER)
- Computes directional trend efficiency ranging from -1.0 (strong downward efficiency) to +1.0 (strong upward efficiency), featuring built-in protection against division by zero.
3. ker_marketstructure_validation – KER Market Structure Validation
- Accumulates and averages KER metrics separately for Long and Short market regimes to evaluate overall structural trend quality.
4. max_excurs_ratio – MFE / MAE Analytics
- Tracks ATR-normalized Maximum Favorable Excursion (MFE) and Maximum Adverse Excursion (MAE) values for individual trend segments.
- Computes running aggregate ratios and stores historical trade metrics in float[] arrays—ideal for statistical distribution and percentile analysis.
5. vis_mfe_mae_ratio_long & vis_mfe_mae_ratio_short – Visualization Components
- Renders dynamic chart overlays featuring break-even levels, stop-loss excursion bounds, color fills, and informational labels displaying real-time or locked segment performance.
📌 Coming next:
OMSF Learning Space Update: Chapter 5 MFE/MAE. (tradingview.com/script/KYJoMqb1-OMSF-Learning-Space/)
Best regards, arni
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.