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User Defined Momentum Change with Swing VisualsThis script is a groundbreaking, math-centric technical analysis tool that blends two well-established indicators, the Stochastic Oscillator and the Exponential Moving Average (EMA), to deliver a unique and visually engaging way of identifying momentum swings and stochastic indicators. Unlike mashups, this script is tailored to accommodate a wide range of trading strategies, providing traders with a distinctive perspective on market trends. The innovation in this script lies in its mathematically-driven ability to effectively combine the Stochastic Oscillator and EMA, setting it apart from other available tools that simply offer a rehash of old ideas or slight modifications to popular indicators. The EMA is employed instead of a Simple Moving Average (SMA), enhancing the uniqueness of the calculations. This novel approach creates a new dimension for traders to evaluate potential momentum swings and visualize them on the chart, proving it to be more than just a mere mashup of existing indicators. Central to the script's utility is its extensive customization options, which allow traders to adjust various inputs to suit their preferences and trading strategies. Users can modify the EMA length, swing range signal offsets, and smoothing factors for both the fast and slow components of the Stochastic Oscillator. Additionally, the script offers the ability to personalize the color thresholds, transparency, and line properties for the Stochastic Oscillator and swing range signal. This script's visually dynamic representation of momentum swings empowers traders to make more informed trading decisions, particularly on the 6-hour timeframe. The swing range signal, represented by vertical lines on the chart, acts as a valuable visual aid for identifying potential entry or exit points. Furthermore, the Stochastic Oscillator provides insights into the strength and direction of momentum, which is beneficial for confirming potential trade signals. To conclude, this script is not just another combination of MAs or a slightly modified version of a popular indicator. Instead, it offers traders a comprehensive, visually appealing, and customizable tool for technical analysis, which is both original and useful. By uniquely combining the EMA and the Stochastic Oscillator with a strong mathematical foundation, and allowing traders to adjust a variety of settings, this script adds value to the TradingView community and enhances the body of knowledge available for traders. It is designed to support traders in tailoring their analysis based on their own strategies and preferences, enabling them to make well-informed decisions in the financial markets.
Pine Script™ indicator
by Crypto_Moses
WelcomeUDT█  OVERVIEW This is a simplest example of user-defined types (UDT) or objects , which simplify as alternative to hello world. █  CREDITS Tradingview █  USAGE These are the types used during initializations, commonly variables. export type Settings int bar float price string phrase ... Example of library function to print out label. export printLabel(Settings setup) => if setup.variable var label lab = na label.delete(lab) lab := label.new(setup.bar, setup.price, setup.phrase, color = setup.bg) else label.new(setup.bar, setup.price, setup.phrase, color = setup.bg) Usage of types Settings setup = Settings.new(bar_index , priceInput, phraseInput, colorInput, variableInput) Alternative way to write types Settings setup = Settings.new( bar = bar_index , price = priceInput, phrase = phraseInput, variable = variableInput) Usage of types into custom function / library function. printLabel(setup) printLabel(Settings)   Print out label   Parameters:      Settings : types   Returns: Label object Settings   Initialize type values   Fields:      bar : X position for label      price : Y position for label      phrase : Text for label      bg : Color for label      variable : Boolean for enable new line and delete line
Pine Script™ library
by RozaniGhani-RG