Best Scripts of the Month — 2020.07

3 ago 2020

We present you with our selection from the open-source indicators published this month on TradingView. These scripts are the ones that caught our attention while analyzing the two thousand or so scripts published each month in TradingView's Public Library, the greatest repository of indicators in the world. If we missed any, please let us know. Most of these scripts were selected on the basis of their potential to be useful in trading; others will be more useful to Pine coders.

This superb body of work constitutes unmistakable proof of the liveliness, ingenuity, and relentless creativity of the generous traders/programmers who not only give their time to write amazing scripts, but share their code with the world. Kudos to these very special humans.

Enjoy!



Autocorrelation Function [pig]
balipour comes up with an auto-correlation script that, unsurprisingly, given the author, goes further than what has been done before on TradingView.

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Momentum Acceleration by DGT
dgtrd represents momentum acceleration on the chart.

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Relative Candle
This is a relative strength comparison indicator, but drewby4321 comes up with an interesting visual representation of the delta between an instrument and the reference symbol/index it is compared to.

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Bernoulli Process - Binary Entropy Function
kocurekc continues his exploration of the application of information theory concepts to trading. Here he attempts to measure what could be called the relative amount of information in price and volume data.

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External Level
paaax keeps track of chart levels where an input signal provided by the study of your choice issues a bearish or bullish breach.

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Linear Regression (All Data)
One of our Pine Wizards, everget, comes up with a linear regression applying to all of a chart's history.

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Pre-Market Volume Profile
Clansi isolates pre-market volume.

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Spread by
gorx1 publishes a powerhouse script that plots different types of spreads around the type of middle line of your choice. Both single-purpose scripts and ones that provide lots of options can be useful, of course; this one definitely belongs in the Swiss-army knife category.

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[RS]Simple Forecast - Keltner Worms
RicardoSantos displays a forecast using Keltner channels.

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Quadratic Regression
alexgrover calculates a price forecast using a parabolic quadratic regression.

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Grid Like Strategy
In another one of his remarkably clear and thorough descriptions, one the platform's best educators, alexgrover, discusses the flaws of the martingale strategy.

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Average Force
racer8 comes up with an effective visualization of price's position inside Donchian channels.

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­[e2] Setup [Alerts]
e2e4mfck simplifies his Sequentials Setup and add alerts to it. While the code's logic is complex, if you know Pine, do not miss the opportunity to treat yourself to some of the cleanest code on the platform.

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