OPEN-SOURCE SCRIPT
Averages - PineCoders FAQ
Updated
█ WARNING
The publication of our ConditionalAverages library has deprecated this publication.
█ ORIGINAL DESCRIPTION
The need to calculate averages (arithmetic mean) comes up here and there in scripts. When you want the average of a value only when a given condition has occurred, you will often not be able to use the standard sma function in Pine because it will average all values in the series. Even if you take care to use your condition to set non-conforming values to zero, this ends up skewing your results with zero values.
This script calculates:
1. The running average of all up volumes,
2. The average of last x occurrences of up volume ,
3. The average up volume occurrences in last y bars.
Look first. Then leap.
The publication of our ConditionalAverages library has deprecated this publication.
█ ORIGINAL DESCRIPTION
The need to calculate averages (arithmetic mean) comes up here and there in scripts. When you want the average of a value only when a given condition has occurred, you will often not be able to use the standard sma function in Pine because it will average all values in the series. Even if you take care to use your condition to set non-conforming values to zero, this ends up skewing your results with zero values.
This script calculates:
1. The running average of all up volumes,
2. The average of last x occurrences of up volume ,
3. The average up volume occurrences in last y bars.
Look first. Then leap.
Release Notes
- Made code for cases 2 and 3 into functions.
- Added examples of multiple-result functions.
Release Notes
Conversion to v4.
Release Notes
Fixes to comments.Release Notes
Simplified Case 1 code.Release Notes
Changes to comments.Release Notes
Updated calculations.Release Notes
v8Rewrite of code using techniques that eliminate all `for` loops.
Release Notes
v9Functionalized case 1.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Tools and ideas for all Pine coders: pinecoders.com
Our Pine FAQ & Code: pinecoders.com/faq_and_code/
Pine news broadcasts: t.me/PineCodersSquawkBox or twitter.com/PineCoders
Our Pine FAQ & Code: pinecoders.com/faq_and_code/
Pine news broadcasts: t.me/PineCodersSquawkBox or twitter.com/PineCoders
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.