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Using CompoundValue() Function


Active member
I ran into an issue where CompoundValue does not work if you use more than 1 in the same study. This may not happen all the time, but the workaround I found was to just get rid of that function call, and do the calculations yourself.

You can see the documentation here (that kind of does a poor job describing the function):

Just use BarNumber() and initialize your variable yourself.


The 1st parameter is how many bars to initialize your value for (many times, just 1).
The 2nd parameter is the formula once your variable is initialized.
The 3rd parameter is the value to initialize your variable with.

Here's the code so you can test yourself.

declare lower;

input mode = {default UseCompoundValue, ManualCalculation};

def nan = double.NaN;
def bn = BarNumber();

# UseCompoundValue --------------------------------------------------------------------
def x = CompoundValue(2, x[1] + x[2], 1);
plot FibonacciNumbers1 = if (mode == mode.UseCompoundValue) then x else nan;

AddChartBubble(mode == mode.UseCompoundValue, x, x);

# ManualCalculation --------------------------------------------------------------------
def y;
if (bn == 1 or bn == 2) then {
    y = 1;
} else {
    y = y[1] + y[2];
plot FibonacciNumbers2 = if (mode == mode.ManualCalculation) then y else nan;

AddChartBubble(mode == mode.ManualCalculation, y, y);

And here it is in action!


A link so the image above which included the study/code/and layout as shown.

Compound Value Example: https://tos.mx/WmCs6q9

Happy Trading,
Kory Gill, @korygill


New member
HI all,

I have a strategy that I've backtested and it works pretty well, and I was hoping to make it almost automated using conditional orders. The problem is that the study contains CompoundValue, which the conditional order creator says doesn't exist. Is there any sort of workaround for this?
Last edited by a moderator:


New member
I am too facing same issue, I tried to achieve my logic using barNumber as CompoundValue was giving the below error

Error processing referenced script NV_MarketPulse: No such function: CompoundValue at 1:1

but barNumber is giving the same error.

Error processing referenced script NV_MarketPulse: No such function: barNumber at 1:1

I am not able to follow how same functions work in studies, but not in conditional orders when we use those studies. Hope somebody from thinkorswim will be able to fix this.


New member
@korygill - I looked at one of your code using compound value and tried something, but in vain. Could you please help with below?

I am using this code in a watch list column on a 1min time frame.

def ct_5_up = CompoundValue(1, if EMA8 > EMA21 and EMA21 > EMA50 and EMA50 > EMA100 and EMA100 > EMA200 then ct_5_up[1] + 1 else 0, 1);
def ct_3_up = CompoundValue(1, if EMA50 > EMA100 and EMA100 > EMA200 then ct_5_up[1] + 1 else 0, 1);

Basically, I am trying to count the number of bars how long the moving averages are aligned as per the condition above. First I am checking for the ct_5_up and if it is not true, then I am checking next one, ct_3_up. But I want to re-initialize the other one whenever the other condition is true.

It is working fine as expected - but the ct_5_up should be reset to 0, when the ct_3_up condition is met. I tried to use if-else condition but not able to clear the other variable.

Hope I am able to explain what I am trying to achieve and where I am fumbling.

Please suggest. Thank you for your time and help in this regard.


New member
Is there a way to rewrite the CompoundValue function such that it would work in a conditional order? Would this manual calculation work?
Hello I am trying to use the compoundvalue function to start an aggregation of a function. When I use a length value other than 1 (default) there seems to be a 19 bar offset before the condition becomes true. for instance if I use the the following

plot x = compoundvalue(360, 10,0);

Lets say a 2year chart x will equal 10 at barnumber 341! Has anyone else experienced this? What I'd like to do is capture pivotlow and pivothigh barnumbers and start an aggregation of various values.

Try using barNumber()