Flare🔶 METHODS
• Pine Script™ introduces methods ( 1 , 2 )! Much kuddos for the developers, Tradingview, and all who has worked on it!
• This educational script will show the simplified way of writing built-in methods, not to create a new method.
🔹 Simplified way of writing built-in methods:
· Instead of:
newArray = array.new()
array.unshift(newArray, 1)
lin = line.new(na, na, na, na)
line.set_xy1(lin, bar_index , close)
line.set_xy2(lin, bar_index + 10, close)
label newLabel = label.new(bar_index, high)
if barstate.islast
label.delete(newLabel)
· We now can write it like this:
newArray = array.new()
newArray.unshift(1)
lin = line.new(na, na, na, na)
lin.set_xy1(bar_index , close)
lin.set_xy2(bar_index + 10, close)
label newLabel = label.new(bar_index, high)
if barstate.islast
newLabel.delete()
——————————————————————————————————————————————————————————
· When using sometimes brackets are necessary:
label lab = label.new(bar_index, high)
if barstate.islast
label.set_color(lab, color.red)
label.delete(lab )
· ->
label lab = label.new(bar_index, high)
if barstate.islast
lab.set_color(color.red)
(lab ).delete() // lab .delete() doesn't compile at the moment
——————————————————————————————————————————————————————————
🔶 OVERVIEW OF SCRIPT
• The basic principles are:
· Find 1 point ( close ) x bars back from current bar ( settings: 'x close back').
· Create a 'Flare' shaped object from that point to current bar or further (dependable of "Width of Flare").
· Calculate where current close is located versus the Flare lines.
· On that bases, change colour and draw plotshapes.
· Below bar if current close is located in the upper part of the Flare
· Above bar if current close is located in the lower part of the Flare
· Above & Below if located in the middle part of the Flare
-> Above & Below colours has 3 different colours (adjustable), dependable on the position
🔶 EXAMPLES
· Neutral zone:
· Light Bullish zone:
· Bullish zone:
· Very Bullish / Overbought zone:
· Light Bearish zone:
· Bearish zone:
· Very Bearish / Oversold zone:
🔶 TECHNIQUES
🔹 I. Make a User Defined Type (UDT) Flare, with:
· 5x linefill - array of linefill
· int iDir, which captures the direction (current location of close in Flare)
· color cCol, this is a colour variable in relation to the direction.
🔹 II. Different functions will add a new Flare object, and update the values on each bar.
· Explanation of each function can be found in the script.
🔶 EXTRA's
· The input.color() is located in the function set_flare_B(flare obj)
· Best to put the inputs at the beginning of the script, I included this alternative just to show it is possible (but mostly not ideal)
· Background colour (settings: Bgcolor) can be enabled for better visibility of colours
Methods
arraymethodsLibrary "arraymethods"
Supplementary array methods.
delete(arr, index)
remove int object from array of integers at specific index
Parameters:
arr : int array
index : index at which int object need to be removed
Returns: void
delete(arr, index)
remove float object from array of float at specific index
Parameters:
arr : float array
index : index at which float object need to be removed
Returns: float
delete(arr, index)
remove bool object from array of bool at specific index
Parameters:
arr : bool array
index : index at which bool object need to be removed
Returns: bool
delete(arr, index)
remove string object from array of string at specific index
Parameters:
arr : string array
index : index at which string object need to be removed
Returns: string
delete(arr, index)
remove color object from array of color at specific index
Parameters:
arr : color array
index : index at which color object need to be removed
Returns: color
delete(arr, index)
remove line object from array of lines at specific index and deletes the line
Parameters:
arr : line array
index : index at which line object need to be removed and deleted
Returns: void
delete(arr, index)
remove label object from array of labels at specific index and deletes the label
Parameters:
arr : label array
index : index at which label object need to be removed and deleted
Returns: void
delete(arr, index)
remove box object from array of boxes at specific index and deletes the box
Parameters:
arr : box array
index : index at which box object need to be removed and deleted
Returns: void
delete(arr, index)
remove table object from array of tables at specific index and deletes the table
Parameters:
arr : table array
index : index at which table object need to be removed and deleted
Returns: void
delete(arr, index)
remove linefill object from array of linefills at specific index and deletes the linefill
Parameters:
arr : linefill array
index : index at which linefill object need to be removed and deleted
Returns: void
popr(arr)
remove last int object from array
Parameters:
arr : int array
Returns: int
popr(arr)
remove last float object from array
Parameters:
arr : float array
Returns: float
popr(arr)
remove last bool object from array
Parameters:
arr : bool array
Returns: bool
popr(arr)
remove last string object from array
Parameters:
arr : string array
Returns: string
popr(arr)
remove last color object from array
Parameters:
arr : color array
Returns: color
popr(arr)
remove and delete last line object from array
Parameters:
arr : line array
Returns: void
popr(arr)
remove and delete last label object from array
Parameters:
arr : label array
Returns: void
popr(arr)
remove and delete last box object from array
Parameters:
arr : box array
Returns: void
popr(arr)
remove and delete last table object from array
Parameters:
arr : table array
Returns: void
popr(arr)
remove and delete last linefill object from array
Parameters:
arr : linefill array
Returns: void
shiftr(arr)
remove first int object from array
Parameters:
arr : int array
Returns: int
shiftr(arr)
remove first float object from array
Parameters:
arr : float array
Returns: float
shiftr(arr)
remove first bool object from array
Parameters:
arr : bool array
Returns: bool
shiftr(arr)
remove first string object from array
Parameters:
arr : string array
Returns: string
shiftr(arr)
remove first color object from array
Parameters:
arr : color array
Returns: color
shiftr(arr)
remove and delete first line object from array
Parameters:
arr : line array
Returns: void
shiftr(arr)
remove and delete first label object from array
Parameters:
arr : label array
Returns: void
shiftr(arr)
remove and delete first box object from array
Parameters:
arr : box array
Returns: void
shiftr(arr)
remove and delete first table object from array
Parameters:
arr : table array
Returns: void
shiftr(arr)
remove and delete first linefill object from array
Parameters:
arr : linefill array
Returns: void
push(arr, val, maxItems)
add int to the end of an array with max items cap. Objects are removed from start to maintain max items cap
Parameters:
arr : int array
val : int object to be pushed
maxItems : max number of items array can hold
Returns: int
push(arr, val, maxItems)
add float to the end of an array with max items cap. Objects are removed from start to maintain max items cap
Parameters:
arr : float array
val : float object to be pushed
maxItems : max number of items array can hold
Returns: float
push(arr, val, maxItems)
add bool to the end of an array with max items cap. Objects are removed from start to maintain max items cap
Parameters:
arr : bool array
val : bool object to be pushed
maxItems : max number of items array can hold
Returns: bool
push(arr, val, maxItems)
add string to the end of an array with max items cap. Objects are removed from start to maintain max items cap
Parameters:
arr : string array
val : string object to be pushed
maxItems : max number of items array can hold
Returns: string
push(arr, val, maxItems)
add color to the end of an array with max items cap. Objects are removed from start to maintain max items cap
Parameters:
arr : color array
val : color object to be pushed
maxItems : max number of items array can hold
Returns: color
push(arr, val, maxItems)
add line to the end of an array with max items cap. Objects are removed and deleted from start to maintain max items cap
Parameters:
arr : line array
val : line object to be pushed
maxItems : max number of items array can hold
Returns: line
push(arr, val, maxItems)
add label to the end of an array with max items cap. Objects are removed and deleted from start to maintain max items cap
Parameters:
arr : label array
val : label object to be pushed
maxItems : max number of items array can hold
Returns: label
push(arr, val, maxItems)
add box to the end of an array with max items cap. Objects are removed and deleted from start to maintain max items cap
Parameters:
arr : box array
val : box object to be pushed
maxItems : max number of items array can hold
Returns: box
push(arr, val, maxItems)
add table to the end of an array with max items cap. Objects are removed and deleted from start to maintain max items cap
Parameters:
arr : table array
val : table object to be pushed
maxItems : max number of items array can hold
Returns: table
push(arr, val, maxItems)
add linefill to the end of an array with max items cap. Objects are removed and deleted from start to maintain max items cap
Parameters:
arr : linefill array
val : linefill object to be pushed
maxItems : max number of items array can hold
Returns: linefill
unshift(arr, val, maxItems)
add int to the beginning of an array with max items cap. Objects are removed from end to maintain max items cap
Parameters:
arr : int array
val : int object to be unshift
maxItems : max number of items array can hold
Returns: int
unshift(arr, val, maxItems)
add float to the beginning of an array with max items cap. Objects are removed from end to maintain max items cap
Parameters:
arr : float array
val : float object to be unshift
maxItems : max number of items array can hold
Returns: float
unshift(arr, val, maxItems)
add bool to the beginning of an array with max items cap. Objects are removed from end to maintain max items cap
Parameters:
arr : bool array
val : bool object to be unshift
maxItems : max number of items array can hold
Returns: bool
unshift(arr, val, maxItems)
add string to the beginning of an array with max items cap. Objects are removed from end to maintain max items cap
Parameters:
arr : string array
val : string object to be unshift
maxItems : max number of items array can hold
Returns: string
unshift(arr, val, maxItems)
add color to the beginning of an array with max items cap. Objects are removed from end to maintain max items cap
Parameters:
arr : color array
val : color object to be unshift
maxItems : max number of items array can hold
Returns: color
unshift(arr, val, maxItems)
add line to the beginning of an array with max items cap. Objects are removed and deleted from end to maintain max items cap
Parameters:
arr : line array
val : line object to be unshift
maxItems : max number of items array can hold
Returns: line
unshift(arr, val, maxItems)
add label to the beginning of an array with max items cap. Objects are removed and deleted from end to maintain max items cap
Parameters:
arr : label array
val : label object to be unshift
maxItems : max number of items array can hold
Returns: label
unshift(arr, val, maxItems)
add box to the beginning of an array with max items cap. Objects are removed and deleted from end to maintain max items cap
Parameters:
arr : box array
val : box object to be unshift
maxItems : max number of items array can hold
Returns: box
unshift(arr, val, maxItems)
add table to the beginning of an array with max items cap. Objects are removed and deleted from end to maintain max items cap
Parameters:
arr : table array
val : table object to be unshift
maxItems : max number of items array can hold
Returns: table
unshift(arr, val, maxItems)
add linefill to the beginning of an array with max items cap. Objects are removed and deleted from end to maintain max items cap
Parameters:
arr : linefill array
val : linefill object to be unshift
maxItems : max number of items array can hold
Returns: linefill
flush(arr)
remove all int objects in an array
Parameters:
arr : int array
Returns: int
flush(arr)
remove all float objects in an array
Parameters:
arr : float array
Returns: float
flush(arr)
remove all bool objects in an array
Parameters:
arr : bool array
Returns: bool
flush(arr)
remove all string objects in an array
Parameters:
arr : string array
Returns: string
flush(arr)
remove all color objects in an array
Parameters:
arr : color array
Returns: color
flush(arr)
remove and delete all line objects in an array
Parameters:
arr : line array
Returns: line
flush(arr)
remove and delete all label objects in an array
Parameters:
arr : label array
Returns: label
flush(arr)
remove and delete all box objects in an array
Parameters:
arr : box array
Returns: box
flush(arr)
remove and delete all table objects in an array
Parameters:
arr : table array
Returns: table
flush(arr)
remove and delete all linefill objects in an array
Parameters:
arr : linefill array
Returns: linefill
keyed value types with pseudo-dict - Methods Library "key_vals"
a set of primitive single-type key/value items, and pseudo-dictionaries
The dictionaries are single arrays of items, each item has a key and value.
The library is 100% methods. add, remove, get and set items by key.
It provides methods to get all the keys, values or items in the dict as arrays.
For those familiar with python, it's similar, but typified.. and the brackets are round.
example syntax.. using floats, the same functions exist for Int, Bool and String
new float_item
new (‘demo’, 1.0 )
set the key of a float_item
float_item.key (‘demo’)
get the key of a float_item
float_item.key ()
set the value of a float_item
float_item.val (1.5)
get the value of a float_item
float_item.val ()
get the number of items in a dict
float_dict.count ()
set an item to a dict by key ( add / update)
float_dict.set ( ‘demo’, 2.0 )
remove an item from a dict by key (changes index, but this is about keys, not ids)
float_dict.remove ( ‘demo’ )
get an item from a dict array
array.get (1 )
get an item from a dict by key
float_dict.get ( ‘demo’ )
get an item from a dict by id (remember, ids change if removed by key) mainlyy an internal function
float_dict.get ( 1)
return all keys as string
float_dict.get_keys()
return all values as float
float_dict.get_values()
return all items as float
float_dict.get_items()
create a new float dict in the multi dict and return the index of it
multi_dict.add_float_dict()
get the float dict at index 0 from the multi dict
multi_dict.get_float_dict( 0)
set an item in a float dict in a multi dict
multi_dict.set_float( ‘demo’, 2.0 )
get an item from a float dict in a multi dict
multi_dict.get_float( ‘demo’ )
float_item
float_item
Fields:
key : (string)
val : (float)
next : (float_item)
float_dict
float_dict
Fields:
content
int_item
int_item
Fields:
key : (string)
val : (int)
next : (int_item)
int_dict
int_dict
Fields:
content
string_item
string_item
Fields:
key : (string)
val : (string)
next : (string_item)
string_dict
string_dict
Fields:
content
bool_item
bool_item
Fields:
key : (string)
val : (bool)
next : (bool_item)
bool_dict
bool_dict
Fields:
content
multi_dict
multi_dict
Fields:
f_dicts
f_registry
i_dicts
i_registry
s_dicts
s_registry
b_dicts
b_registry
new(key, val)
new
Parameters:
key : string
val : float
new(key, val)
Parameters:
key
val
new(key, val)
Parameters:
key
val
new(key, val)
Parameters:
key
val
key(this, key)
key
Parameters:
this : float_item
key : string
key(this)
key
Parameters:
this : float_item
key(this, key)
Parameters:
this
key
key(this)
Parameters:
this
key(this, key)
Parameters:
this
key
key(this)
Parameters:
this
key(this, key)
Parameters:
this
key
key(this)
Parameters:
this
val(this)
val
Parameters:
this : float_item
val(this, val)
val
Parameters:
this : float_item
val : float
val(this)
Parameters:
this
val(this, val)
Parameters:
this
val
val(this)
Parameters:
this
val(this, val)
Parameters:
this
val
val(this)
Parameters:
this
val(this, val)
Parameters:
this
val
count(dict)
count
Parameters:
dict : float_dict
count(dict)
Parameters:
dict
count(dict)
Parameters:
dict
count(dict)
Parameters:
dict
get(dict, index)
get
Parameters:
dict : float_dict
index : int
get(dict, index)
get
Parameters:
dict : float_dict
index : int
get(d, key)
Parameters:
d
key
get(dict, index)
Parameters:
dict
index
get(dict, index)
Parameters:
dict
index
get(d, key)
Parameters:
d
key
get(dict, index)
Parameters:
dict
index
get(dict, index)
Parameters:
dict
index
get(d, key)
Parameters:
d
key
get(dict, index)
Parameters:
dict
index
get(dict, index)
Parameters:
dict
index
get(d, key)
Parameters:
d
key
set(d, key, val)
set
Parameters:
d : float_dict
key : string
val : float
set(d, key, val)
Parameters:
d
key
val
set(d, key, val)
Parameters:
d
key
val
set(d, key, val)
Parameters:
d
key
val
get_keys(d)
Parameters:
d
get_keys(d)
Parameters:
d
get_keys(d)
Parameters:
d
get_keys(d)
Parameters:
d
get_values(d)
Parameters:
d
get_values(d)
Parameters:
d
get_values(d)
Parameters:
d
get_values(d)
Parameters:
d
get_items(d)
Parameters:
d
get_items(d)
Parameters:
d
get_items(d)
Parameters:
d
get_items(d)
Parameters:
d
remove(dict, key)
Parameters:
dict
key
remove(dict, key)
Parameters:
dict
key
remove(dict, key)
Parameters:
dict
key
remove(dict, key)
Parameters:
dict
key
create_multi_dict()
add_float_dict(this)
Parameters:
this
add_int_dict(this)
Parameters:
this
add_string_dict(this)
Parameters:
this
add_bool_dict(this)
Parameters:
this
get_float_dict(this, index)
Parameters:
this
index
get_float_dict(this, key)
Parameters:
this
key
get_int_dict(this, index)
Parameters:
this
index
get_int_dict(this, key)
Parameters:
this
key
get_string_dict(this, index)
Parameters:
this
index
get_string_dict(this, key)
Parameters:
this
key
get_bool_dict(this, index)
Parameters:
this
index
get_bool_dict(this, key)
Parameters:
this
key
set_float(this, key, val)
Parameters:
this
key
val
set_int(this, key, val)
Parameters:
this
key
val
set_string(this, key, val)
Parameters:
this
key
val
set_bool(this, key, val)
Parameters:
this
key
val
Relative Falling three Methods IndicatorAbstract
This script measure the related speed between rising and falling.
This script can replace binary Falling Three Methods detector and, report continuous value and estimate potential trend direction.
My suggestion of using this script is combining it with trading emotion.
Introduction
Falling Three Methods (F3M) is a candlestick pattern.
Many trading courses say traders can regard it as predicting falling will continue.
However, it is not easy to see perfect Falling Three Methods pattern from charts.
Therefore, we need an alternative method to measure it.
We can use the observation that falling is faster than rising during those time.
When falling is faster than rising, some long ( buy , call , higher , upper ) position owners may worry the price will fall very much suddenly.
When rising is faster than falling, some traders may worry they may miss buy opportunities.
Computing Related Falling Three Methods Indicator
(1) The value of rising and falling
In this script, open price is replaced with previous close price.
If the previous price is equal to the close price, than both rising and falling are equal to high-low.
If the previous price is lower than the close price, than the falling value becomes smaller, high-close+previous-low.
If the previous price is higher than the close price, than the rising value becomes smaller, high-previous+close-low.
(2) Area of value (aov)
Area of value is equal to highest-lowest. The previous close price is included.
(3) Compute weight and filter noise
We need a threshold for the noise filter. The default setting is aov/length, where length means how many days are counted.
When a rising or falling value <= threshold, it is not counted.
When a rising or falling value > threshold, the counted value = original value - threshold
and its weight = min ( counted value , threshold )
(4) compute speed
Rising speed = sum ( counted rising value ) / sum ( rising weight )
Falling speed = sum ( counted falling value ) / sum ( falling weight )
(5) Final result
Final result = Rising speed / ( Rising speed + Falling speed ) * 100 - 50
I move the middle level to 0 because 0 axis is always visible unless you cannot see negative values or you cannot see positive values.
Parameters
Length : how many days are counted. The default value is 16 just because 16=4*4, using binary characteristic.
Multi : the multiplier of noise threshold. Threshold applied = default threshold * multi
src : current not used
Conclusion
Related Falling Three Methods Indicator can measure the related speed between rising and falling.
I hope this indicator can help us to evaluate the possibility of trend continue or reversal and potential breakout direction.
After all, we care how trading emotion control the price movement and therefore we can take advantage to it.
Reference
How to trade with Falling Three Methods pattern
How to trade with Related Strength Indicator
