HyperTrend translate from Tradingview

LucasBest · Wed, 09 Aug 2023 11:43:16 +0000

Hello, i tried to translate the code of this Tradingview script but i don’t understand why it does not work… Maybe it’s because i don’t know tradingview language ? 🙂 https://www.tradingview.com/script/Bcufg8oX-HyperTrend-LuxAlgo/ // This work is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) https://creativecommons.org/licenses/by-nc-sa/4.0/ // © LuxAlgo //@version=5 indicator(“HyperTrend [LuxAlgo]”, “LuxAlgo – HyperTrend”, overlay = true) //—————————————————————————— //Settings //—————————————————————————–{ mult = input.float(5, ‘Multiplicative Factor’, minval = 0) slope = input.float(14, ‘Slope’, minval = 0) width = input.float(80, ‘Width %’, minval = 0, maxval = 100) / 100 //Style bullCss = input.color(color.teal, ‘Average Color’, inline = ‘avg’, group = ‘Style’) bearCss = input.color(color.red, ” , inline = ‘avg’, group = ‘Style’) area = input.string(‘Gradient’, ‘Area’, options = [‘Gradient’, ‘Solid’], group = ‘Style’) upperCss = input.color(color.new(color.red, 70), ‘Upper Area’, group = ‘Style’) lowerCss = input.color(color.new(color.teal, 70) , ‘Lower Area’, group = ‘Style’) //—————————————————————————–} //Calculation //—————————————————————————–{ var float upper = na var float lower = na var float avg = close var hold = 0. var os = 1. atr = nz(ta.atr(200)) * mult avg:=math.abs(close-avg)>atr? math.avg(close, avg) : avg + os * (hold / mult / slope) os := math.sign(avg – avg[1]) hold := os != os[1] ? atr : hold upper := avg + width * hold lower := avg – width * hold //—————————————————————————–} //Plots //—————————————————————————–{ css = os == 1 ? bullCss : bearCss plot_upper = plot(upper, ‘Upper’, na) plot_avg = plot(avg, ‘Average’, os != os[1] ? na : css) plot_lower = plot(lower, ‘Lower’, na) var color upper_topcol = na var color upper_btmcol = na var color lower_topcol = na var color lower_btmcol = na //Fill if area == ‘Gradient’ upper_topcol := upperCss upper_btmcol := color.new(chart.bg_color, 100) lower_topcol := color.new(chart.bg_color, 100) lower_btmcol := lowerCss else upper_topcol := upperCss upper_btmcol := upperCss lower_topcol := lowerCss lower_btmcol := lowerCss //Upper Area fill(plot_upper, plot_avg , top_color = os != os[1] ? na : upper_topcol , bottom_color = os != os[1] ? na : upper_btmcol , top_value = upper , bottom_value = avg) //Lower Area fill(plot_avg, plot_lower , top_color = os != os[1] ? na : lower_topcol , bottom_color = os != os[1] ? na : lower_btmcol , top_value = avg , bottom_value = lower) //—————————————————————————–} //////////////////////////////////////////////////////////////// //////////////////////////////////////////////////////////////// So here’s my prorealcode version once avg = close once hold = 0 once os = 1 once rR = 220 once gR = 20 once bR = 60 once rV = 60 once gV = 179 once bV = 113 atr = AverageTrueRange[200] * mult If abs(close – avg) > atr then avg = (close+avg)/2 else avg = avg + os * (hold / mult / slope) endif os = sgn(avg – avg[1]) If os <> os[1] then hold = atr else hold = hold[1] endif upper = avg + width*hold lower = avg – width*hold If os = 1 then r = rV g = gV b = bV else r = rR g = gR b = bR endif DRAWSEGMENT(barindex-1,avg[1],barindex,avg) COLOURED(r,g,b,255) DRAWSEGMENT(barindex-1,upper[1],barindex,upper) COLOURED(rR,gR,bR,100) DRAWSEGMENT(barindex-1,lower[1],barindex,lower) COLOURED(rV,gV,bV,100) Return Any help on how to find my mistake(s) would be appreciate Thanks

This topic has 30 replies, 8 voices, and was last updated 8 months ago by PeterSt.

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08/16/2023 at 9:12 AM #219153

LucasBest

Hello Nicolas,

You’re welcome.

your list of conversions in progress is not up to date : some indicators have been already converted (trendilo, ut bot alerts…) and others can’t be converted because the code is not available (smart money concept for example) because the script is published closed-source.

I have also my own list of conversion to do… 🙂

But i can try to convert 1-2-3 pattern.

For smart money concept, there is those 3 scripts that can be equal if not better than the one of the conversions list :

https://www.tradingview.com/script/CnB3fSph-Smart-Money-Concepts-LuxAlgo/

https://www.tradingview.com/script/ib4uqBJx-ICT-Concepts-LuxAlgo/

https://www.tradingview.com/script/ZpHqSrBK-Market-Structure-CHoCH-BOS-Fractal-LuxAlgo/

LucasBest

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08/16/2023 at 10:04 PM #219226

LucasBest

Nicolas wrote:

For your information, here is the (non-exhaustive) list of conversions in progress: https://docs.google.com/spreadsheets/d/1x-GJwezHPpQwqy1qBj6ygf2nx160f1aLgtQWflMO1_U/edit?usp=sharing

Hi Nicolas,

If it can help the community. I did the conversion of the 1-2-3 Pattern of your conversions’ list

I have not seen where and how i was supposed to add the itf file in the library, so i add it here.

On the original indicator high or low can trigger the signal and be considered as a breakout ; i change this by close instead of high or low.

Also on the original indicator array were used, i did not. It was useless as only 3 last values were needed by the process of detection.

Also, i think it is possible to improve the indicator a lot :

First, it can be improved easily to found all 1-2-3 pattern for a large range of period value, not only one like in the original indicator

Second, in the original indicator, the last pivot must be detected before the breakout happens, which can prevent the indicator of detecting the pattern and the breakout as the breakout happens before the period to finish… It can be solve also

2 users thanked author for this post.

Distincttacos,

GraHal

LucasBest

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08/21/2023 at 10:56 AM #219409

LucasBest

I still can’t add post in the Library…

When i try, i am asked to upload a picture, and i can fill everything but i can’t upload the ITF file, and my post does not appear in the Library…

When i click on “Add/Edit Attachments” nothing happen, i just return at the top of the same page.

How can i do to solve that bug?

Thanks

LucasBest

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08/21/2023 at 11:31 AM #219415

Nicolas

Thanks for the upload! I appreciated it a lot.

Post have to be reviewed in order to be public. Will review it asap 🙂

ITF file upload is not necessary, I will make it myself if you have added the code into your content.

Nicolas

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08/21/2023 at 12:00 PM #219417

LucasBest

Ok,

Itf file have been uploaded 2 posts above

LucasBest

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08/21/2023 at 3:45 PM #219439

Wim

With respect to the Hypertrend (from LuxAlgo) conversion to PRT. I am not convinced that this conversion reliably copies the Tradingview behaviour. I compared the Tradingview chart with the PRT chart for the S&P500 in the first quarter of this year. Screen captures added. Of course with exactly the same configuration, 5, 14 and 80 (defaults).

The number of channel changes is modest in Tradingview, and huge in PRT. I guess that some Tradingview-math has been ill translated. Seems worthwhile to have someone check it and propose a correction?

Wim

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08/21/2023 at 10:52 PM #219459

LucasBest

Maybe AverageTrueRange is not calculated the same way on TradingView and ProrealTime ?

On Prorealtime, Average True Range is calculated by applying a Wilder moving average to the True Range

while on TradingView a Relative Moving Average is applyed to the true range…

Relative moving average does not existe on prorealtime ?

Is it possible to compage atr on both ?

LucasBest

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08/22/2023 at 8:49 AM #219464

robertogozzi

This is the standard formula for the ATR indicator:

// ATR formula
//
// https://en.wikipedia.org/wiki/Average_true_range
// https://www.youtube.com/watch?v=jjsje1E3hVM
// https://www.investopedia.com/terms/a/atr.asp
// https://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:average_true_range_atr
//
// Calculation of TR:
//
// The range of a day's trading is simply high − low {\displaystyle {\text{high}}-{\text{low}}} {\displaystyle {\text{high}}-{\text{low}}}.
// The true range extends it to yesterday's closing price if it was outside of today's range:
//
//        MyTR = max(Range,max(abs(high − close[1]),abs(low − close[1])))
//
// The true range is the largest of the:
//        Most recent period's high minus the most recent period's low
//        Absolute value of the most recent period's high minus the previous close
//        Absolute value of the most recent period's low minus the previous close
//
// Calculation of ATR (of P periods):
p      = 10
MyTR   = max(Range,max(abs(high - close[1]),abs(low - close[1])))
IF BarIndex < p THEN
   MyATR = MyTR
ELSE
   MyATR = ((MyATR[1] * (p - 1)) + MyTR) / p
ENDIF
RETURN MyATR

// ATR formula

// https://en.wikipedia.org/wiki/Average_true_range

// https://www.youtube.com/watch?v=jjsje1E3hVM

// https://www.investopedia.com/terms/a/atr.asp

// https://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:average_true_range_atr

// Calculation of TR:

// The range of a day's trading is simply high − low {\displaystyle {\text{high}}-{\text{low}}} {\displaystyle {\text{high}}-{\text{low}}}.

// The true range extends it to yesterday's closing price if it was outside of today's range:

// MyTR = max(Range,max(abs(high − close[1]),abs(low − close[1])))

// The true range is the largest of the:

// Most recent period's high minus the most recent period's low

// Absolute value of the most recent period's high minus the previous close

// Absolute value of the most recent period's low minus the previous close

// Calculation of ATR (of P periods):

p = 10

MyTR = max(Range,max(abs(high - close[1]),abs(low - close[1])))

IF BarIndex < p THEN

MyATR = MyTR

ELSE

MyATR = ((MyATR[1] * (p - 1)) + MyTR) / p

ENDIF

RETURN MyATR

robertogozzi

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08/22/2023 at 9:27 AM #219465

LucasBest

Strange how i get 3 differents results for ATR[200]

First is ATR from prorealtime, second is calculated with the RMA script found below, and last with the script of ATR formula above…

https://www.prorealcode.com/prorealtime-indicators/rma-recursive-moving-average/

Not sure which one stick the more to the ATR calculated by tradingview.

LucasBest

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08/22/2023 at 9:30 AM #219467

LucasBest

Also an other explanation could be the operators’ precedence that can be different on prorealtime and tradingview…

If someone else can help, it would be appreciate 🙂

LucasBest

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08/22/2023 at 9:41 AM #219468

Wim

The difference in ATR between Tradingview and PRT doesn’t explain the large number of channel changes in PRT. I do acknowledge that the Tradingview ATR values are roughly 8 points higher than those calculated by PRT. Adding this offset to PRT doesn’t change the number of channel changes. Something else going on there too.
Back to the ATR calculation. As shown in the screen captures the ATR of Tradingview lies roughly between 20 and 25, whereas the ATR of PRT lies between 10 and 15 for the first quarter of 2023. The PRT screen capture shows the standard ATR and Roberto’s ATR. They are identical.

We need a Tradingview-PRT-detective to research on the correct conversion of the mathematics I guess.

Wim

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08/22/2023 at 10:24 AM #219471

LucasBest

Wim wrote:

It does, because of line 15 in the script

“If abs(close – avg) > atr then“

More ATR is bigger, less channel change there will be.

If ATR is 8 to 10 points less in Prorealtime, then there will be more change in channel.

Also 8 to 10 points more than 10 to 15 points is 80% more… It is a huge difference!

LucasBest

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08/22/2023 at 10:33 AM #219472

LucasBest

I found the formula of RMA of tradingviw, hr blow, i will do the conversion to have the same atr, but i have no time today (traveling day)

https://fr.tradingview.com/pine-script-reference/v5/#fun_ta.rma

https://www.tradingcode.net/tradingview/relative-moving-average/

LucasBest

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08/22/2023 at 1:41 PM #219483

Wim

I found the reason behind the big difference in charts Tradingview and PRT. The broker chosen by LuxAlgo only gives candles during normal pre-market and market opening hours. PRT/IG gives 24 hourly candles per day. If I switch to another cfd broker dealing all day like IG, you get the same chart as in PRT (including same values for ATR). See screen capture.
What this means with respect to signals given by this indicator with a opening hours only broker versus a 24-24 broker, I do not know. More, less, more or less reliable, … happy backtesting.
No need to change the code, sorry for the fuzz, although I did learn something about the effect of the different brokers on signals given by an indicator.

Wim

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08/22/2023 at 4:36 PM #219499

Zigo

ATR Calculation Methods and Formulas – Macroption

Try this website.

Zigo

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