distance_ratio
Collection of types and functions that can be used for the calculation of the ratio [0, 1] of a distance
from a barrier price using several methods. Methods supported are percentagewise (PERC), atr-based (ATR), fixed
profit (PROF), tick-based (TICKS), risk reward ratio (RR) and local extrema (LOC).
This library is meant to replace my previously published "distance_percentile" library since it offers a more intuitive interface by using the method syntax.
Use method syntax for "long_biased_dist_ratio" and "short_biased_dist_ratio".
For types use PascalCase instead of camelCase to work around some compiler errors as Stratfather suggested.
Some optimizations in the PROF method calculations
- Add Standard Deviation method for distance and LOC margin
- More accurate PROF calculation formula with commission fees
Add step logic to stdev method by adding multipliers
Simplify exit commission fee calculation
Add initial entry fees in the PROF calculation
(minor) without base quantity
Use barrier as the entry price for the stepped fixed profit calculations that are also scaled with the price movement when there are consecutive price targets
- Added price and ticks methods
- Added separate restrict methods
- Simplified the object types
- Removed the bias logic in the LOC method
- Tick related methods not return an integer
- If there is a not defined value during calculations return an error if fatal or zero otherwise
- Remove restrict argument from "pure" ratio, price ticks calls
Update some documentation and fixed a typo in the error message
- Updated documentation
- Use force_overlay for the example plots
- Use enum where possible
Update to pinescript version 6
- Pass the stop loss distance instead of ratio
- Update the example
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Telegram: @jason5480
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Biblioteca Pine
Siguiendo fielmente el espíritu de TradingView, el autor ha publicado este código Pine como una biblioteca de código, permitiendo que otros programadores de Pine en nuestra comunidad puedan volver a utilizarlo. ¡Un brindis por el autor! Puede utilizar esta biblioteca de forma privada o en otras publicaciones de código abierto, pero tenga en cuenta que la reutilización de este código en publicaciones se rige por las Normas internas.
Telegram: @jason5480
🔗 Addresses
₿ - bc1qxh3jeld7ke70fx3r5q243d96jsx0etth6x8fa7
* Please contact me before any donation ☕