Editors' picksOPEN-SOURCE SCRIPT
Random Synthetic Asset Generation
Updated
This script generates pseudo-random asset data. Due to the nature of the random generator, it is impossible to use this indicator as input for other indicators because the instance of the script that the indicator is applied to will automatically be different from the instance that is plotted on the chart. Therefore, the idea is to use this script in other scripts (to make it possible to backtest on random data, for example).
The script has four main input parameters.
You can also change the colors of the bars.
In addition to this, the indicator also generates random volume. In order to make it possible to show both volume and price, you need to have two identical instances of the indicator. One on the chart, and one in its own panel. Then, go into the Style tab in the indicator settings on the instance in the panel. Untick Up-Candles and Down-Candles boxes, and tick the Volume box.
In a similar manner, you can also plot the true range data and the candle change data as well, by ticking one of those boxes instead.
The script has four main input parameters.
- Random Number Generator Method: It supports two methods for generating the pseudo-random numbers (one by Ricardo Santos and one by Wichmann-Hill).
- Seed: You can specify the seed to use. Each unique seed will generate a unique set of pseudo-random data.
- Intrabar Volatility: This basically sets how volatile the generated wicks will be (0 = no wicks).
- Price Multiplier: This is just a multiplier for the generated price data, so that you can scale up or down the generated price data.
You can also change the colors of the bars.
In addition to this, the indicator also generates random volume. In order to make it possible to show both volume and price, you need to have two identical instances of the indicator. One on the chart, and one in its own panel. Then, go into the Style tab in the indicator settings on the instance in the panel. Untick Up-Candles and Down-Candles boxes, and tick the Volume box.
In a similar manner, you can also plot the true range data and the candle change data as well, by ticking one of those boxes instead.
Release Notes
Fixed a small bug.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.
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Disclaimer
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