indicator: x% from current price

[ARL]

Greetings! Any ideas on how an indicator could show what x% from current price above and below the current bar would look like? For example, the illustration below could be showing 1.5% above & below the current price, changing position dynamically as the price changes.

I believe this would be a helpful visual in managing risk by seeing what the "x% from" looks like relative to other indicators like MAs, support/resistance, etc. Right now, this is being done with a calculator on a spreadsheet and I suspect there's a much better way. I didn't find anything about this in the forums. Thanks!

https%3A//i.imgur.com/RRB7X6F.jpg[/img]']

 

[Svanoy]

@ARL
https://usethinkscript.com/threads/...ints-based-on-opening-price.10938/#post-97754
Post #4
Just change the 'dayopen' variable definition to whatever you want the starting price level to be.

 

[ARL]

Hi, Svanoy. Thanks for your reply. Your solution would work for representing the x% from CURRENT bar's price on, say, a five minute chart? It seems it works for the opening only on a static basis and not dynamically throughout the day for the current bar. Maybe I'm misunderstanding the script.

 

[Svanoy]

As I stated in my previous post, you will have to change the definition line of 'dayopen' to whatever price level you want it to be. Written to update realtime:

@ARL

input Price_Point_1_Percentage = 1.5;
input Price_Point_2_Percentage = 1.0;
input Price_Point_3_Percentage = 0.5;
input Price_Point_4_Percentage = -0.5;
input Price_Point_5_Percentage = -1;
input Price_Point_6_Percentage = -1.5;

def Start = if !IsNaN(close) and IsNaN(close[-1]) then close else Start[1];
def o = fold io = 0 to 1 while !IsNaN(close[10]) do Start;

plot StartPlot = if o > 0 and IsNaN(close[-1]) then o else Double.NaN;
StartPlot.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
StartPlot.AssignValueColor(color.white);

def pricepoint1 = (Start * (Price_Point_1_Percentage/100)) + Start;
def pricepoint2 = (Start * (Price_Point_2_Percentage/100)) + Start;
def pricepoint3 = (Start * (Price_Point_3_Percentage/100)) + Start;
def pricepoint4 = (Start * (Price_Point_4_Percentage/100)) + Start;
def pricepoint5 = (Start * (Price_Point_5_Percentage/100)) + Start;
def pricepoint6 = (Start * (Price_Point_6_Percentage/100)) + Start;

def a = fold ia = 0 to 1 while !IsNaN(close[10]) do pricepoint1;
def b = fold ib = 0 to 1 while !IsNaN(close[10]) do pricepoint2;
def c = fold ic = 0 to 1 while !IsNaN(close[10]) do pricepoint3;
def d = fold id = 0 to 1 while !IsNaN(close[10]) do pricepoint4;
def e = fold ie = 0 to 1 while !IsNaN(close[10]) do pricepoint5;
def f = fold if = 0 to 1 while !IsNaN(close[10]) do pricepoint6;

plot PP1 = if a > 0 and IsNaN(close[-1]) then a else Double.NaN;
PP1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
PP1.AssignValueColor(color.white);

plot PP2 = if b > 0 and IsNaN(close[-1]) then b else Double.NaN;
PP2.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
PP2.AssignValueColor(color.white);

plot PP3 = if c > 0 and IsNaN(close[-1]) then c else Double.NaN;
PP3.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
PP3.AssignValueColor(color.white);

plot PP4 = if d > 0 and IsNaN(close[-1]) then d else Double.NaN;
PP4.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
PP4.AssignValueColor(color.white);

plot PP5 = if e > 0 and IsNaN(close[-1]) then e else Double.NaN;
PP5.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
PP5.AssignValueColor(color.white);

plot PP6 = if f > 0 and IsNaN(close[-1]) then f else Double.NaN;
PP6.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
PP6.AssignValueColor(color.white);

AddChartBubble(!IsNaN(StartPlot) and IsNaN(StartPlot[-1]) ,Start,"Start Price",Color.WHITE,if Price_Point_1_Percentage >= 0 then yes else no);
AddChartBubble(!IsNaN(PP1) and IsNaN(PP1[-1]),a,"Price Point 1: "+Price_Point_1_Percentage+"%",Color.WHITE,if Price_Point_1_Percentage >= 0 then yes else no);
AddChartBubble(!IsNaN(PP2) and IsNaN(PP2[-1]),b,"Price Point 2: "+Price_Point_2_Percentage+"%",Color.WHITE,if Price_Point_2_Percentage >= 0 then yes else no);
AddChartBubble(!IsNaN(PP3) and IsNaN(PP3[-1]),c,"Price Point 3: "+Price_Point_3_Percentage+"%",Color.WHITE,if Price_Point_3_Percentage >= 0 then yes else no);
AddChartBubble(!IsNaN(PP4) and IsNaN(PP4[-1]),d,"Price Point 4: "+Price_Point_4_Percentage+"%",Color.WHITE,if Price_Point_4_Percentage >= 0 then yes else no);
AddChartBubble(!IsNaN(PP5) and IsNaN(PP5[-1]),e,"Price Point 5: "+Price_Point_5_Percentage+"%",Color.WHITE,if Price_Point_5_Percentage >= 0 then yes else no);
AddChartBubble(!IsNaN(PP6) and IsNaN(PP6[-1]),f,"Price Point 6: "+Price_Point_6_Percentage+"%",Color.WHITE,if Price_Point_6_Percentage >= 0 then yes else no);

 

[ARL]

Right on, Svanoy . . . THANK YOU! I modified it to display inputs 1 & 6 only and it's perfect for my application. Have it running in OnDemand now and it looks great. Appreciate your attention to this. Take care. =A=