# AA_Label_Fx_Tricolor_1_0
# 2019-07-16
# Matthew Jordan - Learning ThinkScript
# This script will add 4 labels to a Forex chart.
# 1. Current position in Lots.
# 2. Average True Range.
# 3. Average True Range converted to USD.(PER LOT)
# 4. Current Spread cost.
#
# These labels will be Ti-color coded,
# relating to the full range of the
# last (User set Length) bars on the
# current charts time frame.
#
# Green = The BEST 1/3 of that range.
# Yellow = The middle part of that range.
# Red = The WORST 1/3 of that range.
# Green = Good, Yellow = Not Ideal & Red = Bad
# START User Defined Length in bars.
input length = 252;
# END User Defined Length in bars.
# Start Define atrHi, atrLo, atrRange & atrPercentage.
def atr
= if IsNaN(atr())
then atr[1]
else atr();
def atrHi
= Highest(atr, length);
def atrLo
= Lowest (atr, length);
def AtrRange
= atrHi
- atrLo;
def atrPercentage
= Round( 100
* (atr() - atrLo)
/ AtrRange, 1) ;
# END Define atrHi, atrLo, atrRange & atr%.
# START Define BidPrice, AskPrice & FxSpread.
def BidPrice
= close(priceType = PriceType.BID);
def AskPrice
= close(priceType = PriceType.ASK);
def FxSpread
= AskPrice - BidPrice;
# END Define FxSpread.
# START Define FxSpread High, Lo, Range & Percentage.
def SpreadHi
= Highest(FxSpread, length);
def SpreadLo
= Lowest (FxSpread, length);
def FxSpreadRange
= SpreadHi
- SpreadLo;
def FxSpreadPerc
= Round ((100 * FxSpread)
/ FxSpreadRange)
/ 100;
# END Define FxSpread High, Lo, Range & Percentage.
# START Define TrueATR & TickValue.
def TrueATR
= ATR
- FxSpreadRange;
def TickValue
= if IsNaN(atr())
then TickValue[1]
else Tickvalue();
# END Define TrueATR & TickValue.
# START Define all 3 colors for Labels
DefineGlobalColor("67%+", Color.RED);
DefineGlobalColor("34-66%", Color.YELLOW);
DefineGlobalColor("33%-", Color.GREEN);
# END Define all 3 colors for Labels
# START Add FxSpread label to chart in proper color.
AddLabel(yes, "FxSpread " + FxSpread ,
if FxSpreadPerc >66 then GlobalColor("67%+") else
if FxSpreadPerc >33 then GlobalColor("34-66%") else
GlobalColor("33%-"));
# END Add FxSpread label to chart in proper color.
# START Define TickSize & LotSize
def TickSize
= if IsNaN(tickSize())
then tickSize[1] else
tickSize();
def LotSize = TickValue/Ticksize;
# END Define TickSize & Lotsize
# Start Add label for LotSize.
AddLabel(yes, "# Lots " + (LotSize / 100000));
# END Add label for LotSize.
# Start Add Tri-color label for ATR.
AddLabel(yes, "ATR: " + atr ,
if atrPercentage>66 then GlobalColor("33%-") else
if atrPercentage>33 then GlobalColor("34-66%")else
GlobalColor("67%+"));
# END Add Tri-color label for ATR.
# Start Add Tri-color label for ATR in USD.
AddLabel(yes, "ATR= $"
+ (TickValue*LotSize)
* TrueATR);
# END Add Tri-color label for ATR in USD.
# I highly suggest that you save as
# AA_Label_Fx_Tricolor_1_0
[\CODE]
