Market Cap Indicator

Put in the number of outstanding shares in millions and the code draws horizontal lines on specific market cap levels. Code is adjusting for the size of the company.

//Drawing of horizontal Lines on Market Cap Levels
//Put outstanding shares in Millions (e.g. Aapl 4915138000 = 4915.138)
DefParam DrawOnLastBarOnly = true
SharesOutstandingMillions = 4915.138

MarketCap = SharesOutstandingMillions * close

if MarketCap > 250000 THEN //Bigger then 250B, steps of 50B
 Step = 50
 DrawDistance = 0.005
elsif MarketCap < 250000 and MarketCap > 100000 THEN //Between 100B and 250B, steps of 10B
 Step = 10
 DrawDistance = 0.005
elsif MarketCap < 100000 and MarketCap > 25000 THEN //Between 25B and 100B, steps of 5B
 Step = 5
 DrawDistance = 0.007
elsif MarketCap < 25000 and MarketCap > 10000 THEN //Between 10B and 25B, steps of 1B
 Step = 1
 DrawDistance = 0.01
else // lower then 10B, steps of 0.5B
 Step = 0.5
 DrawDistance = 0.01
endif

//Number of lines to be drawn
for i=0 to 25 do
 MarketCapLevel = Step * i
 PriceLevel = (MarketCapLevel * 1000)/SharesOutstandingMillions
 DRAWHLINE(PriceLevel)
 DRAWTEXT("#MarketCapLevel#B @ #PriceLevel#", barindex-10, PriceLevel+(DrawDistance*PriceLevel), dialog) COLOURED (0,0,0)
next

return