PINE LIBRARY
Updated eStrategy
Library "eStrategy"
Library contains methods which can help build custom strategy for continuous investment plans and also compare it with systematic buy and hold.
sip(startYear, initialDeposit, depositFrequency, recurringDeposit, buyPrice) Depicts systematic buy and hold over period of time
Parameters:
startYear: Year on which SIP is started
initialDeposit: Initial one time investment at the start
depositFrequency: Frequency of recurring deposit - can be monthly or weekly
recurringDeposit: Recurring deposit amount
buyPrice: Indicatinve buy price. Use high to be conservative. low, close, open, hl2, hlc3, ohlc4, hlcc4 are other options.
Returns: totalInvestment - initial + recurring deposits
totalQty - Quantity of units held for given instrument
totalEquity - Present equity
customStrategy(startYear, initialDeposit, depositFrequency, recurringDeposit, buyPrice, sellPrice, initialInvestmentPercent, recurringInvestmentPercent, signal, tradePercent) Allows users to define custom strategy and enhance systematic buy and hold by adding take profit and reloads
Parameters:
startYear: Year on which SIP is started
initialDeposit: Initial one time investment at the start
depositFrequency: Frequency of recurring deposit - can be monthly or weekly
recurringDeposit: Recurring deposit amount
buyPrice: Indicatinve buy price. Use high to be conservative. low, close, open, hl2, hlc3, ohlc4, hlcc4 are other options.
sellPrice: Indicatinve sell price. Use low to be conservative. high, close, open, hl2, hlc3, ohlc4, hlcc4 are other options.
initialInvestmentPercent: percent of amount to invest from the initial depost. Keep rest of them as cash
recurringInvestmentPercent: percent of amount to invest from recurring deposit. Keep rest of them as cash
signal: can be 1, -1 or 0. 1 means buy/reload. -1 means take profit and 0 means neither.
tradePercent: percent of amount to trade when signal is not 0. If taking profit, it will sell the percent from existing position. If reloading, it will buy with percent from cash reserve
Returns: totalInvestment - initial + recurring deposits
totalQty - Quantity of units held for given instrument
totalCash = Amount of cash held
totalEquity - Overall equity = totalQty*close + totalCash
Library contains methods which can help build custom strategy for continuous investment plans and also compare it with systematic buy and hold.
sip(startYear, initialDeposit, depositFrequency, recurringDeposit, buyPrice) Depicts systematic buy and hold over period of time
Parameters:
startYear: Year on which SIP is started
initialDeposit: Initial one time investment at the start
depositFrequency: Frequency of recurring deposit - can be monthly or weekly
recurringDeposit: Recurring deposit amount
buyPrice: Indicatinve buy price. Use high to be conservative. low, close, open, hl2, hlc3, ohlc4, hlcc4 are other options.
Returns: totalInvestment - initial + recurring deposits
totalQty - Quantity of units held for given instrument
totalEquity - Present equity
customStrategy(startYear, initialDeposit, depositFrequency, recurringDeposit, buyPrice, sellPrice, initialInvestmentPercent, recurringInvestmentPercent, signal, tradePercent) Allows users to define custom strategy and enhance systematic buy and hold by adding take profit and reloads
Parameters:
startYear: Year on which SIP is started
initialDeposit: Initial one time investment at the start
depositFrequency: Frequency of recurring deposit - can be monthly or weekly
recurringDeposit: Recurring deposit amount
buyPrice: Indicatinve buy price. Use high to be conservative. low, close, open, hl2, hlc3, ohlc4, hlcc4 are other options.
sellPrice: Indicatinve sell price. Use low to be conservative. high, close, open, hl2, hlc3, ohlc4, hlcc4 are other options.
initialInvestmentPercent: percent of amount to invest from the initial depost. Keep rest of them as cash
recurringInvestmentPercent: percent of amount to invest from recurring deposit. Keep rest of them as cash
signal: can be 1, -1 or 0. 1 means buy/reload. -1 means take profit and 0 means neither.
tradePercent: percent of amount to trade when signal is not 0. If taking profit, it will sell the percent from existing position. If reloading, it will buy with percent from cash reserve
Returns: totalInvestment - initial + recurring deposits
totalQty - Quantity of units held for given instrument
totalCash = Amount of cash held
totalEquity - Overall equity = totalQty*close + totalCash
Release Notes
v2Added:
getEquityAthAndDrawdown(equity) Calculates max equity, current drawdown from equity ATH and max drawdown
Parameters:
equity: Present equity value
Returns: equityAth - Equity all time high
drawdown - Present drawdown percentage from equity ATH
maxDrawdown - Max drawdown percentage
Release Notes
v3Added:
getAverageCashPercent(cash, equity) Calculates average cash holding percent for strategy
Parameters:
cash: Present cash holding
equity: Present equity value
Returns: currentCashPercent - Cash Percent of Equity
avgCashPercent - Average cash percent of equity
Release Notes
v4Updated: Added dividends to equation
Pine library
In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in publications is governed by House Rules.
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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.
Pine library
In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in publications is governed by House Rules.
Trial - trendoscope.io/trial
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io
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.