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Functions

These are builtin functions that corresponds to functions within ThinkScript

SMA (Simple Moving Average)

SMA(price, length) SimpleMovingAverage(price, length)

Calculates the Simple Moving Average of the given price over the past length candlesticks.

Investopedia Link

Example:

smaValue = SMA(close, 14)

This calculates the 14-period simple moving average of the closing price.

WMA (Weighted Moving Average)

WMA(price, length) WeightedMovingAverage(price, length)

Calculates the Weighted Moving Average of the given price over the past length candlesticks.

Investopedia Link

Example:

wmaValue = WMA(close, 14)

This calculates the 14-period weighted moving average of the closing price.

WildersAverage (Wilder’s Smoothing)

WildersAverage(price, length)

Calculates the Wilder’s Moving Average of the given price over the past length candlesticks.
It is similar to an exponential moving average but uses a smoothing factor of 1/length.

This average is commonly used in indicators like RSI, ADX, and others in technical analysis.

TrendSpider Link

Momentum

Momentum(price, length)

Calculates the momentum of the given price over the past length candlesticks.
It measures the difference between the current price and the price length periods ago:

Momentum = price - price[length]

A positive value indicates upward momentum, while a negative value indicates downward momentum.

Investopedia Link

Example:

m = Momentum(close, 10)

This calculates the difference between the current close and the close from 10 candles ago.

RSI (Relative Strength Index)

RSI(price, length) RelativeStrengthIndex(price, length)

Calculates the Relative Strength Index (RSI) of the given price over the past length candlesticks.
RSI is a momentum oscillator that ranges from 0 to 100 and is used to measure the speed and change of price movements.

  • RSI values above 70 typically indicate overbought conditions.
  • RSI values below 30 typically indicate oversold conditions.

Internally, RSI uses Wilder’s smoothing method.

Investopedia Link

Example:

r = RSI(close, 14)

This computes the 14-period RSI of the closing price.

CompoundValue

CompoundValue is a built-in function used to define recursive or cumulative variables that depend on their own previous values in time-series data.

CompoundValue(lookback, expression, initialValue)

  • lookback: Number of bars to look back for the previous value (usually 1 for the immediate prior bar).
  • expression: The calculation to perform for the current bar, typically referencing the variable’s past value using indexing (e.g., var[1]).
  • initialValue: The starting value used for the very first bar when there is no prior data.

Example

def a = upticks - downticks;
def b = CompoundValue(1, b[1] + a, 0);

This example:

  • Defines b recursively as the sum of its previous value (b[1]) plus the current difference between upticks and downticks.
  • Starts with an initial value of 0 at the first bar.