position_tool

Apr 21

Library "position_tool"

Trying to turn TradingView's position tool into a library from which you can draw position tools for your strategies on the chart. Not sure if this is going to work

calcBaseUnit()
  Calculates the chart symbol's base unit of change in asset prices.
  Returns: (float) A ticks or pips value of base units of change.

calcOrderPipsOrTicks(orderSize, unit)
  Converts the `orderSize` to ticks.
  Parameters:
    orderSize (float): (series float) The order size to convert to ticks.
    unit (simple float): (simple float) The basic units of change in asset prices.
  Returns: (int) A tick value based on a given order size.

calcProfitLossSize(price, entryPrice, isLongPosition)
  Calculates a difference between a `price` and the `entryPrice` in absolute terms.
  Parameters:
    price (float): (series float) The price to calculate the difference from.
    entryPrice (float): (series float) The price of entry for the position.
    isLongPosition (bool)
  Returns: (float) The absolute price displacement of a price from an entry price.

calcRiskRewardRatio(profitSize, lossSize)
  Calculates a risk to reward ratio given the size of profit and loss.
  Parameters:
    profitSize (float): (series float) The size of the profit in absolute terms.
    lossSize (float): (series float) The size of the loss in absolute terms.
  Returns: (float) The ratio between the `profitSize` to the `lossSize`

createPosition(entryPrice, entryTime, tpPrice, slPrice, entryColor, tpColor, slColor, textColor, showExtendRight)
  Main function to create a position visualization with entry, TP, and SL
  Parameters:
    entryPrice (float): (float) The entry price of the position
    entryTime (int): (int) The entry time of the position in bar_time format
    tpPrice (float): (float) The take profit price
    slPrice (float): (float) The stop loss price
    entryColor (color): (color) Color for entry line
    tpColor (color): (color) Color for take profit zone
    slColor (color): (color) Color for stop loss zone
    textColor (color): (color) Color for text labels
    showExtendRight (bool): (bool) Whether to extend lines to the right
  Returns: (bool) Returns true when position is closed

Apr 22

Release Notes

v2

Added:
position_data
  stores position data for the entry
  Fields:
    entry_x (series int): stores entry time
    entry_x2 (series int): stores real entry price (when you get filled)
    entry_y (series float): stores entry price
    exit_x (series int): stores time of exit
    exit_y (series float): stores price of exit
    sl (series float): stores stop loss price
    tp (series float): stores tp price
    posclosed (series bool): for checking if the position is closed, do not change
    posentered (series bool): for checking if the position is entered, do not change
    poserror (series bool): for checking if sl and tp are on opposite sides of each other, do not change
    direction (series int): for storing direction of position, calculated automatically, either 1 or -1
    win (series bool): determine if the position is a win
    sl_css (series color): color of stop loss zone
    tp_css (series color): color of take profit zone

Removed:
calcBaseUnit()
  Calculates the chart symbol's base unit of change in asset prices.

calcOrderPipsOrTicks(orderSize, unit)
  Converts the `orderSize` to ticks.

calcProfitLossSize(price, entryPrice, isLongPosition)
  Calculates a difference between a `price` and the `entryPrice` in absolute terms.

calcRiskRewardRatio(profitSize, lossSize)
  Calculates a risk to reward ratio given the size of profit and loss.

createPosition(entryPrice, entryTime, tpPrice, slPrice, entryColor, tpColor, slColor, textColor, showExtendRight)
  Main function to create a position visualization with entry, TP, and SL

Apr 22

Release Notes

v3