yatrader2

FUNCTION: Specify lengths in time (or bars)

yatrader2 Premium Updated   
This is a function to give measures in time rather than bars...

I often want to measure in things in time rather than bars and change the sample rate (the candle size)
without reconfiguring my settings. This is a handy function for setting you input lengths in time units
(or bars when you want that)

For example
  • I want a 3 hour moving average, regardless of whether I have 5 minute candles or 30 min candles...
    I want a 200 day moving average, regardless of whether I have 1 day or 1 week candles...

This is designed for you to put in your own scripts for your own purpose, but you can use this as is for time constant moving averages
or as an indicator on an indicator.


This shows the same moving averages 45 min / 3 hours in aqua / fuchsia and 1 day / 1 week in red / green

First row: On an extended session chart with 10m, 30m and 60m candles (all of them use the same settings (day length is 16 hours) everything else default.
Second row: On a standard session chart with 10m, 30m and 60m candles (all of them use the same settings everything else default.
Release Notes:
Since the nice folks @pinecoders decided to feature this, I figured I should go the extra mile and save you the trouble of having to set your day and week lengths (but you can still do by selecting common sessions, or setting your own manually).

You can see the settings here: https://snipboard.io/wtbaqx.jpg, but I guess I can't embed non TV images :(

By default the script will guess your day and week length, and will do so correctly for:
  • CME and COMEX (23x5)
  • NYSE, NASDAQ, AMEX and OTC (6.5x5 if you are viewing the regular session and 16x5 if you are viewing the extended session)
  • All crypto, because the default if an exchange is not handled is 24x7

If you aren't sure if it has guessed correctly, you can see the guess printed in the Data Window.

Here's a screen shot showing the same thing as the initial release, but the defaults are use everywhere. (I also added one more column, showing CME and Coinbase)
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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