OPEN-SOURCE SCRIPT

Overlay Mini Plot(s) of Correlated Asset(s)

Updated
Overlay a small plot of a correlated asset of your choosing. Shrink/expand, Set vertical and horizontal position, plot multiple mini-plots via duplicate indicators with varied settings.

Plots the last X bars of any asset; including the live candle currently painting
Useful for low time frame trading when you want to see correlated asset price movement right alongside the price movement you're watching.
Useful for quick and simple comparisons; when you don't want the clutter of split screen or multi-pane view.
Useful for backtesting.
Price scale agnostic; just plots the shape of the recent price action, with several optional labels: Asset+timeframe | Live Price | Highest price over X bars | Lowest price over X bars.
Works fine with all the assets i've tested it on.

~~User inputs~~
-number of bars to paint.
-horizontal offset: plot to right X bars or to left X bars
-vertical offset: shift up or down, shrink or expand; by using 2 'spacer' inputs
-color/transparancy of candles and price labels.
-width (pixels) of candle bodies.
-choose to display price labels or not
-choose to display asset label or not

~~Tips~~
--Add several of these indicators; changing the vertical 'Shift/Shrink' settings on each to visually separate them.
--In the above chart or EurUsd, there are three indicators =>> three mini-plots overlaid: DXY, EurGbp and GbpUsd. Using the following settings for Space Above:Space Below: DXY- 0.1:4.5 | EurGbp- 1.8:1.8 | GbpUsd- 4.5:0.1
--the more you add, the more you'll have to vertically shrink the plots
© twingall
Release Notes
fixed rounding issue with live price label printed price: now shows appropriate significant figures
Release Notes
-updated to show multi timeframe: User select higher timeframe. Note that when using HTF option this will only plot 10 bars
Release Notes
-updated some names/titles for clarity
Release Notes
-update chart to show multi-timeframe
Release Notes
(cleaned up, removed old code)
Release Notes
-add option to auto plot on current ticker symbol
Release Notes
Choose vertical position (top/middle/bottom)
Release Notes
Cleaned up settings panel, added groups
Release Notes
-added option to show / not show mini plots when base asset market is closed (i.e. backtesting use-case Vs live trading use-case )
Chart patternscomparecomparecandlescorrelatedcorrelationlowtimeframeoverlayoverlaysrelativestrengthRelative Strength ComparisonSMT

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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