Transparent Label Spacer For ThinkOrSwim

[Carl-not-Karl]

Simple script that moves labels to right side of Chart.
Can use as standalone or embedded in other Studies (see Notes).

input LabelSpacer = no;
DefineGlobalColor("Label", GetColor(1));

AddLabel(LabelSpacer, "                                                           ", GlobalColor("Label"));

Chart shows AAPL, GOOGL and TSLA with Labels and randomly placed 'spacers' (i.e., keyboard spacebar spaces in the code between the quotes).

Top grid with LabelSpacer turned off.
Middle grid with LabelSpacer turned on (CYAN bars).
Bottom grid with LabelSpacer transparency:

Notes:
The number of spacers needed in the script will depend on the size of the monitor and/or Chart grid arrangement.
(If text is used rather than spacers the bar will be transparent but the text will not)
From Study select Settings/small gear;
Under Colors select the CYAN colorbox;
Select More... ;
Select the HSV tab;
Slide the Transparency blue dot to the right to read 100.
Select OK.

 

[rad14733]

@Carl-not-Karl Were you aware that in the recent major TOS update that AddLabel() now has the Location parameter that eliminates the need to use spacing...???

AddLabel(yes, "Bottom_Left", Color.GRAY, Location:Bottom_Left);
AddLabel(yes, "Bottom_Right", Color.GRAY, Location:Bottom_Right);
AddLabel(yes, "Top_Left", Color.GRAY, Location:Top_Left);
AddLabel(yes, "Top_Right", Color.GRAY, Location:Top_Right);

 

[useThinkScript]

Excellent posts by ToS experts @Carl-not-Karl and @rad14733

At times, your various labels might just need the spacers, as shown by Carl's post, to force the display of your labels in the order that is desired.
As seen in this VIP grid

https://usethinkscript.com/threads/must-know-market-drivers.20243/#post-149226

Or else, as rad pointed out, the new ToS update allows for labels to be placed in any of the four corners
of any upper or lower chart

 

[Carl-not-Karl]

@Carl-not-Karl Were you aware that in the recent major TOS update that AddLabel() now has the Location parameter that eliminates the need to use spacing...???

rad: No, wasn't aware of this feature. Appreciate you sharing this with me and the uTS community.