How to draw using PLOT • Pine Script [OUTDATED V4] Tutorial

How to draw using PLOT • Pine Script [OUTDATED V4] Tutorial

hi traders and coders my name is Matthew
from pine script mastery and in today's
lesson I'm going to show you how to use
the plot function I'm going to cover all
of the function parameters that we have
to work with and really give you a
thorough insight into how the plot
function works a coders
welcome to the plot function lesson so
in this lesson I'm going to explain the
plot function in great detail and
explain what all of these input
arguments do and how to use them in your
own scripts so for this demonstration
I'm going to leave overlay to false so
that we have our own indicator box here
that'll make it easy to see what is
happening to this line as we manipulate
it so as always if you hover your mouse
over the plot function name you'll get a
list of the possible input variables
here we have 13 input variables I'll
explain what they all do one by one and
if by the end of this lesson you still
have questions then just simply hold
ctrl or command and click on the
function name and you'll get a full
description of what this function does
now the plot function only has one
required input meaning that we only have
to give it one value before it'll work
all of the other input variables are
optional and the required input is a
series so this could be an open closed
hi-low or any other series of price
variables so you could also plot
indicator values so here we have an EMA
50 EMA and we can plot that to the chart
as well if we want to like so so let's
go over the other input variables the
next one we have to work with is title
so this is the title of the plot I hit
save and come up to the options menu you
can see that it is now being renamed to
this is the title and we can change the
color of it and the style of the plot so
you can change it to an area histogram
circles
whatever you'd like so I'm gonna leave
this title variable in while we go over
the next few input variables just so
that we can see it in the settings menu
when we go up to adjust things so the
next optional input we have is a color
so if you type in color equals and then
type color
full-stop and then control space here is
the list of colors you can choose from
so we could change it to purple if you
wanted to hit save and it will change
the color of our line
the next option we have is the line
width so if I type in line width equals
and we could set this to by default this
is set to one so if I hit save this
won't change but you can change this all
the way up to four and the higher you go
the thicker the line will be so the next
input variable is style so if you type
in style and then plot dot control space
here is a list of styles we can choose
from now this is the same list you'll
get from this formatting dialog here so
there's a bunch of different styles you
can choose from for example we could
turn this into a columns indicator if we
hit save this will now be drawn as
columns just like your volume indicator
or something like that and so I'm not
going to go through all of these if you
get time you can come in here and play
around with these different formatting
styles and see what you prefer for
whatever you're working on the next
optional input variable is whether or
not to track the price so the type track
price if you set this to true and hit
save you can see that it now draws a
horizontal price line at the last value
the next input variable is transparency
so if you type in trance and you set
this to say 50 then the line will be 50%
transparent as you can see this does not
affect the horizontal track price line
the next input variable we can choose
from is hist bass which is short for
histogram bass so we type in hist this
will be the base price that our columns
and histograms draw from so if we set
this to say zero point six eight cents
and change
our plot style two columns we save the
script you can see that the histogram
base is now 68 cents and whenever price
goes below it the columns are drawn to
the downside and whenever price is above
it it's drawn to the upside so I'm going
to start a new line here so that we
don't go off the page and the next input
variable we can work with is called
offset now offset tells plan script how
many bars to shift the current plot left
or right so a negative value will shift
it to the left and a positive value will
shift it to the right so if we wanted to
shift this current closing price plot
back 10 bars then we simply type in
negative 10 hit save and then this plot
should move back 10 bars like so if you
wanted to move it 10 bars forward just
put in a positive value in this case
positive 10 hit save and it will now
draw at the end of the chart here and
you can go as far back as negative 9 9 9
9 and that will shift the plot all the
way to the start of the chart and now
all we have on our chart is a horizontal
price line I'll set this to 0 for now
and we'll continue onwards the next
input variable is called join and it's a
boolean so if we by default this is set
to false but if we set this to true it
will now join any plotted shapes we have
on our chart so this only works with the
style cross and style circles so if we
type in here a style underscore cross
and hit save you can see it now draws a
line connecting all of these crosses if
we change this to circles it will also
draw a line connecting all of these
circles so I'll set this back to a line
and set this to false and we'll go over
the next input variable which is
editable
editable' tells pine script whether or
not the user can adjust the formatting
settings for this plotted line by
default this is set to true so if you
come up into the settings menu you can
change the style of the plot and the
color but if we set this to false and
save the script now there is no settings
option at all because we cannot change
the now we cannot edit the plot style or
color so I'll change this back to true
and we'll go over the next input
variable which is show underscore last
now by default this input argument isn't
used but what it does is it tells pine
scripts how many bars back to draw this
plot so if we set this to 10 hit save
it only plots our line over the past 10
bars and anything beyond that is not
plotted to the chart so I'll change this
to say 100 save it and you can see it
rolls back over the past 100 bars now
the final input argument is called
display now there's only two options we
can choose from here and that is display
dot all or none if we hit none then this
plot will not be drawn to the chart we
still get the number in the top left
here but the line itself is not drawn to
our chart if you change this back to all
then it will come back on to our chart
and another way of achieving this is to
just set the transparency to 100% hit
save has the same effect except now we
have a horizontal price line being drawn
to the chart where as displayed on none
removes all of our drawings all of our
plotting so this is useful for plotting
graphical information to the chart
that you don't want the user to see but
you want to be able to read the value up
here next to the indicator name so that
brings us to the end of the plot lesson
and hopefully now you have a firm
understanding of all the different
variables you can work with when
plotting data to your chart
so that's it for this lesson I hope you
found that helpful if you did and you
want to learn more about pine scripts
head over to pine skip mastery com here
you'll find my advanced pine script
courses and my basics course which is
free so if you want to learn more about
pine script head over here and you'll
find out a little bit more about me and
a little bit more about pine scripts I
hope you found this lesson interesting
and helpful I'll see you in the next one
[Music]