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Plot channel in Pine script with certain condition

https://pinescripters.net/viewtopic.php?f=21&t=293

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Plot channel in Pine script with certain condition

Posted: Mon Apr 05, 2021 4:38 pm
by PavanSada
I am trying to plot the channel in trading view charts using the code below. It works well as a basic need, however, I need to improvise this which I am unable to find the logic of writing code. Need your help.

Code: Select all

//@version=4
study("Channel","CT",true)
delay_plot_til_closed = true
repaint = (not(delay_plot_til_closed) or barstate.ishistory or barstate.isconfirmed)
fleftBars = input(title="Look Back Period", type=input.integer, defval=20, minval=1, maxval=50, step=1,  group="Fibo Channel Settings")
frightBars=input(title="Look Forward Period", type=input.integer, defval=5, minval=1, maxval=30, step=1,  group="Fibo Channel Settings")
widt = input(defval = 1, title = "Line Width",inline ="FiboSet1",  group="Fibo Channel Settings")
extendit = input(defval = true, title = "Extend Lines to Right",inline ="FiboSet1",  group="Fibo Channel Settings")
PeakPointsConfirmation = input(title="Confirm Peak on Move %", type=input.float, defval=0.15, minval=0.05, maxval=0.25, step=0.01,  group="Fibo Channel Settings")
UpChannelOption = input(title="Up Channel", type=input.string,
     options=["solid (─)", "dotted (┈)", "dashed (╌)"],
     defval="dashed (╌)",  group="Fibo Channel Settings")

UpChanlineStyle = (UpChannelOption == "dotted (┈)") ? line.style_dotted :
     (UpChannelOption == "dashed (╌)") ? line.style_dashed :
         line.style_solid

DownChannelOption = input(title="Down Channel", type=input.string,
     options=["solid (─)", "dotted (┈)", "dashed (╌)"],
     defval="dashed (╌)",  group="Fibo Channel Settings")

DownChanlineStyle = (DownChannelOption == "dotted (┈)") ? line.style_dotted :
     (UpChannelOption == "dashed (╌)") ? line.style_dashed :
         line.style_solid

fb1 = input(title="Fibo Channel 1", type=input.float, defval=0.236,  group="Fibo Channel Percentage")
fb2 = input(title="Fibo Channel 2", type=input.float, defval=0.618,  group="Fibo Channel Percentage")
fb3 = input(title="Fibo Channel 3", type=input.float, defval=1.618,  group="Fibo Channel Percentage")
fb4 = input(title="Fibo Channel 4", type=input.float, defval=2.618,  group="Fibo Channel Percentage")

//========================== Variables ===============================
var float TenPctOfPivotLow = 0,float TenPctOfPivotHigh = 0
var float CurrentPivotLow = 0,float CurrentPivotHigh = 0
var float TempPivotLow = 0,float TempPivotHigh = 0
var int TempCandlePivotLow = 0,int TempCandlePivotHigh = 0
var int HasclosedAboveTenPct = 0,int HasclosedBelowTenPct = 0
var float LastKnownPivotLow = 1e99,float LastKnownPivotHigh = 1e99 
var int CandleOfLatestLow = 0,int CandleOfLatestHigh = 0
var int CandleOfLastKnownPivotLow = 0,int CandleOfLastKnownPivotHigh = 0
var float Slope = 0, int Trend = 0
var int DistanceBwTwoZeroPoints = 0, int MidToLeftDistance = 0, int MidToRightDistance = 0
var float ExpValueOf100FromMidToLeft = 0, float ExpValueOf100FromMidToRight = 0
var fibo_ratios = array.new_float(0)
var bool AlreadyDownChannelExists = false, bool AlreadyUpChannelExists = false
var line DrawUpTrendLine = line.new(bar_index,low,bar_index,low)
var line DrawUpHighTrendLine = line.new(bar_index,low,bar_index,low)
var Downfibolines = array.new_line(4)
var Upfibolines = array.new_line(4)
var line DrawDownTrendLine = line.new(bar_index,high,bar_index,high)
var line DrawUpLowTrendLine = line.new(bar_index,high,bar_index,high)
if barstate.isfirst
    array.push(fibo_ratios, fb1)
    array.push(fibo_ratios, fb2)
    array.push(fibo_ratios, fb3)
    array.push(fibo_ratios, fb4)
    
//========================== BASIC CALCULATION ===============================

PivotHigh=0.00, PivotHigh := nz(pivothigh(high,fleftBars, frightBars),0.00)
PivotLow=0.00, PivotLow := nz(pivotlow(low,fleftBars, frightBars),0.00)

//========================== PIVOT HIGH CALCULATION ===============================

if PivotHigh != 0.00 // Candles where Pivot High is found
    TempPivotHigh:= PivotHigh
    TempCandlePivotHigh := valuewhen(TempPivotHigh, bar_index[frightBars], 0)
    TenPctOfPivotHigh := (TempPivotHigh - ((TempPivotHigh * PeakPointsConfirmation)/100))
else
    TempPivotHigh:= TempPivotHigh[1]
    TempCandlePivotHigh := TempCandlePivotHigh[1]
    TenPctOfPivotHigh := TenPctOfPivotHigh[1]

HasclosedBelowTenPct := 0
for i = 0 to 30
    if close[i] <= TenPctOfPivotHigh and bar_index[i] > TempCandlePivotHigh
        HasclosedBelowTenPct:= HasclosedBelowTenPct + 1
    if HasclosedBelowTenPct == 1
        LastKnownPivotHigh:= CurrentPivotHigh[1]
        CandleOfLastKnownPivotHigh:=CandleOfLatestHigh[1]
        CurrentPivotHigh := TempPivotHigh
        CandleOfLatestHigh := TempCandlePivotHigh
    else
        LastKnownPivotHigh:= LastKnownPivotHigh[1]
        CandleOfLastKnownPivotHigh:=CandleOfLastKnownPivotHigh[1]
        CurrentPivotHigh := CurrentPivotHigh[1]
        CandleOfLatestHigh := CandleOfLatestHigh[1]


//========================== PIVOT LOW CALCULATION ===============================

if PivotLow != 0.00 // Candles where Pivot Low is found
    TempPivotLow:= PivotLow
    TempCandlePivotLow := valuewhen(TempPivotLow, bar_index[frightBars], 0)
    TenPctOfPivotLow := (TempPivotLow + ((TempPivotLow * PeakPointsConfirmation)/100))
else
    TempPivotLow:= TempPivotLow[1]
    TempCandlePivotLow := TempCandlePivotLow[1]
    TenPctOfPivotLow := TenPctOfPivotLow[1]
    
    
HasclosedAboveTenPct := 0
for i = 0 to 30
    if close[i] >= TenPctOfPivotLow and bar_index[i] > TempCandlePivotLow
        HasclosedAboveTenPct:= HasclosedAboveTenPct + 1
    if HasclosedAboveTenPct == 1
        LastKnownPivotLow:= CurrentPivotLow[1]
        CandleOfLastKnownPivotLow:=CandleOfLatestLow[1]
        CurrentPivotLow := TempPivotLow
        CandleOfLatestLow := TempCandlePivotLow
    else
        LastKnownPivotLow:= LastKnownPivotLow[1]
        CandleOfLastKnownPivotLow:=CandleOfLastKnownPivotLow[1]
        CurrentPivotLow := CurrentPivotLow[1]
        CandleOfLatestLow := CandleOfLatestLow[1]

//===================== Determination of Trend ========================
DistanceBwTwoZeroPoints:= 0
Slope:= 0
MidToLeftDistance:= 0
MidToRightDistance:= 0
ExpValueOf100FromMidToLeft := 0
ExpValueOf100FromMidToRight := 0
if CurrentPivotLow > LastKnownPivotLow and repaint and AlreadyUpChannelExists == false
    AlreadyUpChannelExists := true
    DistanceBwTwoZeroPoints:= CandleOfLatestLow - CandleOfLastKnownPivotLow
    Slope:= (CurrentPivotLow - LastKnownPivotLow) / DistanceBwTwoZeroPoints
    MidToRightDistance:= CandleOfLatestLow - CandleOfLatestHigh
    MidToLeftDistance:= CandleOfLatestHigh - CandleOfLastKnownPivotLow
    ExpValueOf100FromMidToLeft := CurrentPivotHigh - (Slope * MidToLeftDistance)
    ExpValueOf100FromMidToRight := CurrentPivotHigh + (Slope * MidToRightDistance)
    Trend:= 1
else if CurrentPivotHigh < LastKnownPivotHigh and repaint and AlreadyDownChannelExists == false
    AlreadyDownChannelExists := true
    DistanceBwTwoZeroPoints:= CandleOfLatestHigh - CandleOfLastKnownPivotHigh
    Slope:= (LastKnownPivotHigh - CurrentPivotHigh) / DistanceBwTwoZeroPoints
    MidToLeftDistance:= CandleOfLatestLow - CandleOfLastKnownPivotHigh
    MidToRightDistance:= CandleOfLatestHigh - CandleOfLatestLow
    ExpValueOf100FromMidToLeft := CurrentPivotLow + (Slope * MidToLeftDistance)
    ExpValueOf100FromMidToRight := CurrentPivotLow - (Slope * MidToRightDistance)
    Trend:= -1

if (CurrentPivotLow < LastKnownPivotLow) or (MidToRightDistance <= 0) or (CurrentPivotHigh < LastKnownPivotHigh) or dayofmonth(time[bar_index - CandleOfLatestLow]) != dayofmonth(time[bar_index - CandleOfLastKnownPivotLow])
    AlreadyUpChannelExists := false

if (CurrentPivotHigh < LastKnownPivotHigh) or (MidToRightDistance <= 0) or (CurrentPivotLow < LastKnownPivotLow) or dayofmonth(time[bar_index - CandleOfLatestHigh]) != dayofmonth(time[bar_index - CandleOfLastKnownPivotHigh])
    AlreadyDownChannelExists := false


if Trend== 1
    line.delete(DrawDownTrendLine)
    line.delete(DrawUpLowTrendLine)
    for ab = 0 to 3
        line.delete(array.get(Downfibolines, ab))
    DrawUpTrendLine := line.new(CandleOfLastKnownPivotLow, LastKnownPivotLow, CandleOfLatestLow,CurrentPivotLow, style=UpChanlineStyle, color=color.lime,width = widt,extend = extendit ? extend.right : extend.none)
    line.delete(DrawUpTrendLine[1])
    DrawUpHighTrendLine := line.new(CandleOfLastKnownPivotLow, ExpValueOf100FromMidToLeft , CandleOfLatestLow, ExpValueOf100FromMidToRight, style=UpChanlineStyle, color=color.lime,width = widt,extend = extendit ? extend.right : extend.none)
    line.delete(DrawUpHighTrendLine[1])
    for x = 0 to 3
        line.delete(array.get(Upfibolines, x))
        array.set(Upfibolines, x, 
                  line.new(x1 = CandleOfLastKnownPivotLow, 
                           y1 = LastKnownPivotLow + (( ExpValueOf100FromMidToLeft - LastKnownPivotLow ) * array.get(fibo_ratios, x)), 
                           x2 = CandleOfLatestLow, 
                           y2 = CurrentPivotLow + (( ExpValueOf100FromMidToRight - CurrentPivotLow ) * array.get(fibo_ratios, x)),
                           color = x == 0? color.aqua : x == 1? color.lime : color.yellow,
                           style =  UpChanlineStyle,
                           width = widt,
                           extend = extendit ? extend.right : extend.none))
else if Trend== -1
    line.delete(DrawUpTrendLine)
    line.delete(DrawUpHighTrendLine)
    for aa = 0 to 3
        line.delete(array.get(Upfibolines, aa))
    DrawDownTrendLine := line.new(CandleOfLastKnownPivotHigh, LastKnownPivotHigh, CandleOfLatestHigh,CurrentPivotHigh, style=DownChanlineStyle, color=color.red,width = widt,extend = extendit ? extend.right : extend.none)
    line.delete(DrawDownTrendLine[1])
    DrawUpLowTrendLine := line.new(CandleOfLastKnownPivotHigh, ExpValueOf100FromMidToLeft , CandleOfLatestHigh, ExpValueOf100FromMidToRight, style=DownChanlineStyle, color=color.red,width = widt,extend = extendit ? extend.right : extend.none)
    line.delete(DrawUpLowTrendLine[1])
    for x = 0 to 3
        line.delete(array.get(Downfibolines, x))
        array.set(Downfibolines, x, 
                  line.new(x1 = CandleOfLastKnownPivotHigh, 
                           y1 = LastKnownPivotHigh + (( ExpValueOf100FromMidToLeft - LastKnownPivotHigh ) * array.get(fibo_ratios, x)), 
                           x2 = CandleOfLatestHigh, 
                           y2 = CurrentPivotHigh + (( ExpValueOf100FromMidToRight - CurrentPivotHigh ) * array.get(fibo_ratios, x)),
                           color = x == 0? color.aqua : x == 1? color.red : color.yellow,
                           style =  DownChanlineStyle,
                           width = widt,
                           extend = extendit ? extend.right : extend.none))

The above script first identifies 3 main points. if in case to plot a channel for an uptrend, it requires first low point and next high point and finally higher low point. vise versa for downtrend which requires high, low, and lower high points.

based on these points channel is being plotted on charts. at any point in time, I need only one channel to show on the chart.

The current problem is:

let's say it has found those 3 points initially for an uptrend. in few candles, if a new high is found it re-adjusts the cannel by deleting the old one. can you help me put a condition that either zero-line is broken or price (high) has reached "fb4" no new channel should be plotted?

Found an uptrend while the channel is down and the price is within the zero-line and fb4 line. Currently, it deletes the down channel and plots a new uptrend channel. can you help me put a condition that either zero-line is broken or price (high) has reached "fb4" no new channel should be plotted?
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