ATR long or short Label in Watchlist

[Musk335im3]

Hi All!

Been trying to code a Watchlist label where:

• Daily aggregation
• Label turns Green when current Price is >= plus 1 ATR from Yesterday's Closing

or Label turns Red when current Price is <= minus 1 ATR from Yesterday's Closing

Below is my effort in coding it. The Long signal works but cannot make the label work both on long and short. Thanks in advanced. (Mod, please delete in case there's already something like this posted here; just can't find it).

### Initial Computations

## ATR

# ATR
input PeriodATR = aggregationPeriod.DAY;
input length_atr = 14;
input averageType_atr = AverageType.WILDERS;

def pre_ATR = MovingAverage(averageType_atr, TrueRange(high(period = PeriodATR), close(period = PeriodATR), low(period = PeriodATR)), length_atr);
def ATR = pre_ATR;


# ATR percentage
def pre_ATR_perc = (pre_ATR/close()) * 100;
def ATR_perc = pre_ATR_perc;


## All Closings: for computation ##

# Closings
input aggregationPeriod_Closing = AggregationPeriod.DAY;

def Closing = close(period = aggregationPeriod_Closing);


## Closings +/- ATR

# Upper
def Plus_ATR = Closing + ATR;

# Lower
def Minus_ATR = Closing - ATR;


## Conditions
def pre_Short = if (Closing <= Minus_ATR[1]) then 1 else double.NaN;

#plot Short = pre_Short;

def pre_Long = if (Closing >= Plus_ATR[1]) then 1 else double.NaN;

#plot Long = pre_Long;

def pre_Signal = (if pre_Long == 1 then 1 else if pre_Short == 1 then -1 else double.NaN);

plot Signal = pre_Signal;

AddLabel (yes, Signal, color.Black);# maybe not needed


Signal.AssignValueColor(if Signal == 1 then Color.GREEN else Color.Black);

AssignBackgroundColor(if Signal == 1 then Color.GREEN else Color.Black);


Signal.AssignValueColor(if Signal < 0 then Color.Red else Color.Black);

AssignBackgroundColor(if Signal < 0 then Color.Red else Color.Black);

 

[halcyonguy]

Hi All!

Been trying to code a Watchlist label where:

• Daily aggregation
• Label turns Green when current Price is >= plus 1 ATR from Yesterday's Closing

or Label turns Red when current Price is <= minus 1 ATR from Yesterday's Closing

Below is my effort in coding it. The Long signal works but cannot make the label work both on long and short. Thanks in advanced. (Mod, please delete in case there's already something like this posted here; just can't find it).

### Initial Computations

## ATR

# ATR
input PeriodATR = aggregationPeriod.DAY;
input length_atr = 14;
input averageType_atr = AverageType.WILDERS;

def pre_ATR = MovingAverage(averageType_atr, TrueRange(high(period = PeriodATR), close(period = PeriodATR), low(period = PeriodATR)), length_atr);
def ATR = pre_ATR;


# ATR percentage
def pre_ATR_perc = (pre_ATR/close()) * 100;
def ATR_perc = pre_ATR_perc;


## All Closings: for computation ##

# Closings
input aggregationPeriod_Closing = AggregationPeriod.DAY;

def Closing = close(period = aggregationPeriod_Closing);


## Closings +/- ATR

# Upper
def Plus_ATR = Closing + ATR;

# Lower
def Minus_ATR = Closing - ATR;


## Conditions
def pre_Short = if (Closing <= Minus_ATR[1]) then 1 else double.NaN;

#plot Short = pre_Short;

def pre_Long = if (Closing >= Plus_ATR[1]) then 1 else double.NaN;

#plot Long = pre_Long;

def pre_Signal = (if pre_Long == 1 then 1 else if pre_Short == 1 then -1 else double.NaN);

plot Signal = pre_Signal;

AddLabel (yes, Signal, color.Black);# maybe not needed


Signal.AssignValueColor(if Signal == 1 then Color.GREEN else Color.Black);

AssignBackgroundColor(if Signal == 1 then Color.GREEN else Color.Black);


Signal.AssignValueColor(if Signal < 0 then Color.Red else Color.Black);

AssignBackgroundColor(if Signal < 0 then Color.Red else Color.Black);

why are you using 2nd aggregation?
why not just set the watchlist time to day?

can use only 1 AssignBackgroundColor() in a study. combine them
should load only 1 study having AssignBackgroundColor().

you have plots and labels. should only use 1, 1 plot OR 1 addlabel

 

[Musk335im3]

why are you using 2nd aggregation?
why not just set the watchlist time to day?

can use only 1 AssignBackgroundColor() in a study. combine them
should load only 1 study having AssignBackgroundColor().

you have plots and labels. should only use 1, 1 plot OR 1 addlabel

What I posted above was actually a hodgepodge of codes I got from somewhere (it just proves my lack of proper coding skills).

Thanks a lot for the pointers though coz I was able to figure it out (i think). It now works.

Working code below. Again, thanks a lot.

### Plus/ Minus ATR watchlist


# ATR
input length_atr = 40;
input averageType_atr = AverageType.WILDERS;
def ATR = MovingAverage(averageType_atr, TrueRange(high, close, low), length_atr);

# ATR percentage
def ATR_perc = (ATR/close()) * 100;

# Closings
def Closing = close;

# Upper ATR
def Plus_ATR = Closing + ATR;

# Lower ATR
def Minus_ATR = Closing - ATR;

# Conditions
plot Signal = if (Closing >= Plus_ATR[1]) then 1 else if (Closing <= Minus_ATR[1]) then -1 else 0;

# Value and Background colors
Signal.AssignValueColor(if Signal== 1 then Color.GREEN else if Signal == -1 then color.red else Color.Black);
AssignBackgroundColor(if Signal == 1 then Color.GREEN else if Signal == -1 then Color.Red else Color.Black);