hey traders welcome back to another pine script tutorial my name is matthew from zen and the art of trading and today i'm excited to ramp things up a notch and explain to you how to create a higher time frame indicator that references the previous day's high and low and doesn't repaint now that sounds like a mouthful to you that you just don't understand then I highly recommend you go back a few lessons maybe to the start if you're new to Pine script but what are we doing here well let's go out to the daily chart first of all and hide this indicator and let me draw in a couple of lines so first of all let me draw in the high of this day and the low of this previous day the script that I'm going to teach you how to code today will do just this it will draw the previous day's high and low over your intraday charts so now if we drop down or one hour chart you can see that the high of the day was this wick here and the low of the day was this wick here and everything that is happening today as at this bar here is within the context of this previous day's high and previous day's low so all of these bars this is basically all of today has been an inside bar meaning that the high and low of today's bar is contained within the high and low of the previous day's bar and so if we get a breakout today that'll create a new high new daily high and that's the purpose of creating the script I'm going to show you how to create today we can use this script to see how price action is performing within the bounds of the previous day's high and low but I'm gonna take this lesson one step further today and I'm going to show you how to achieve this without repainting to your chart so before I continue if I turn the script off this um today I'm going to recreate a script I made a while ago so if you type into the indicators box HTF you'll see here this indicated by a zen and the art of trading called higher timeframe high and low if you click on that this script does basically the same thing the difference is I haven't updated it yet let me change this to daily but this script repaints repainting is the arch-nemesis of all beginner pan script coders basically what this is doing is that on historical bars it's referencing the previous day's high which is what we want but on the current bar as it's moving as the price is changing our value is changing so if I hover my mouse over the current bar you can see that that's where these values change they diverge from the historical values the reason for that is that these historical values are referencing the previous day's high and this current value is referencing the current daily bars high because every time price action moves it recalculates the higher time frame values we don't want that not on this particular script and some scripts you may want that but on this particular script we do not want this what we want is this a clean line a clean value that shows us the previous day's high in context of the current price action so you can see here that price action is actually breaking through the previous day's high but if I turn on the repainting script our high is changing with price action so today I'm going to show you how to eliminate that I'm going to show you how to manipulate a higher time frame data to show the high and low of the previous day or week change this to week and it will show the previous week's high and low and so all of that and more in today's lesson let's get straight into the coding so first things first let's start with a blank slate I'm gonna create a new blank indicator script and I'm going to save it and call it lesson 9 and so here we have a blank script I'll get rid of some of this because it's unnecessary for today and now we have a clean blank script or blank canvas if you will so I'm going to rename this script lesson 9 you can call it whatever you want to and I'm going to set the overlay to true now as always I'd like to begin my scripts by getting the user input variables so I'm going to write a comment here saying get user input and the first input we're going to get is what time frame to reference so I'm going to call this res short for resolution I'm going to use the inbuilt input function it's going to have a title a settings title of time frame and it's going to be of type input dot control space to bring this box up resolution is what we're looking for so that's another word for timeframe the final variable we're going to put into this input function is the default value and today we're going to be using D so our default higher time frame reference is going to be the daily chart you can change this to whatever you like you could change it to W for weekly or even M for monthly but I'm going to leave mine is D for daily because that's what most intraday traders will be referencing that's the only input variable we need for this lesson so let's move on to the next line of code so the next thing we're going to do here is create our own custom function now this is going to be a little bit advanced so if you're new to pan script don't freak out this is gonna be a little bit difficult to understand but I'll do my best to explain it in a way that makes sense to both people who are proficient with programming and those who are new to this stuff a function is something like plug you can see this is an inbuilt Pyne script function created by the pine script development team and the tradingview developers but you can also create your own custom functions so say that there's a repetitive complex task you want to keep doing in your scripts that pine script doesn't provide an inbuilt function for well you can just create your own and today I'm going to show you exactly how to do that we're going to create our own security function that eliminates repainting and the first thing we need to do just like any variable in pine script we need to define what the variable is called so in this case I'm going to call it RP short for repaint underscore function so this is our repaint function or in should be called NRP non repainting function but I'll keep it RP for short because it's just easier to to write and this RP function unlike a typical variable which is assigned a value based on a inbuilt pan script function or operation this function actually requires input variables so the input variables were going to reference here is the symbol the current market we're trading and the res resolution the current time frame we're trading and also source so our open high/low or closed so now we've defined and our custom function and we've defined what inputs it takes now we need to assign it to an expression basically we need to tell pine script what this function does and the way we do that is using an equal sign just like when we're assigning a variable to a value but instead of just leaving the equal sign we're also going to put a right arrow on the end so this is saying the repaint function with these inputs is defined by this next line of code and so what we're going to reference here is we're going to reference the inbuilt security function so our custom function is going to return the inbuilt security function while taking our custom inputs into consideration and so the way we do that is will write underscore symbol underscore R as an underscore source and so now we can hit save and this will compile and it's still plotting the closing press but our function is created and right now this is just duplicating the security function it's returning exactly what this would do if we were to say if we were to use this inbuilt security function with the default values so I'm gonna leave this for now and we'll come back to it in a second first of all we're going to get our price data in this case it's higher time frame price data and what we want to get is the higher time frame high and the higher time frame low and so higher time frame high is going to be assigned to our custom repaint function and for the market the symbol is going to take our current symbol Aussie CAD so we're gonna write in sin in fur dot ticker or ticket ID sorry ticket ID so that's the ticket identification tag in this case AUD C ad it's going to take res which is this variable here we created so we can change our time frame value so by default it's going to take a daily time frame input and the source is going to be the high so the high time frame low is going to be exactly the same repaint that takes an input of symbol info ticker ID our custom resolution variable which is set to daily by default and it's going to reference the low source the source for this custom function input is going to be low so high and low high timeframe high high time frame low so now we can draw these values to our chart so let's overwrite this clothes value with a higher time frame high we're going to color it red and we're going to title at higher time frame high then we're also going to plot the high time frame low it's going to have a color of blue and it's going to be titled higher timeframe low if I hit save that should draw these values to our chart and there we go but notice it's repainting every time the current intraday bar changes its value so does the higher time frame high and low we don't want that we want to eliminate that so that this high previous day is high continues drawing until the current days bar closes so how do we do that let's come back up to our custom function this is why we created this custom repaint function now if we add on to the end of source two square brackets and the conditional statement then we can eliminate repainting altogether so our conditional statement is going to be if the bar state dot control space is real time question mark one otherwise zero what this is saying is if the current daily bar higher time frame bar is real time meaning it hasn't closed yet it's not a historical bar then we want to reference the previous day's source high low close open otherwise if this bar is not real time meaning it is a historical bar then we do want a reference that days high low and now you can see that repainting has gone away as the intraday bar changes its value the high and low is no longer changing with it and so we've just eliminated repainting we're drawing the previous day's high and low to our chart and if we go out to the daily chart we zoom right in as this daily chart bar is moving the high and low is not moving when this daily bar closes these lines will adjust for today's closing prices high and low and those lines will draw over tomorrow's intraday price action and so there we have our completed indicator it's not repainting it's drawing the high and low the previous day's the higher time frames bar and we can adjust this to what every one we can change this to one week and it will now draw the previous week's high and low and so if price action gets down here there's a good chance it could act as support and so that brings me to the end of today's lesson I hope that this was helpful to you hope that it made sense to you if not go back and watch the previous lessons that may make this lesson make more sense if you haven't watched them yet otherwise if you want to take your pants trip coding to the next level I've left a link in the description to my advanced pine script cost and I'm working on where I go into far more structured detail about all of these different functions of pine script and how they all come together to create a indicator or strategy script so if you're excited about buying scripts and you'd like to take your coding to the next level I highly encourage you to check that one out and I should quickly mention that anyone who signs up to my mailing list to be informed of when the Advanced Course releases will receive a 50% discount off the opening price so if you're interested in that head over now to my website the link is in the description and sign up to be notified about the course release otherwise I'll be back soon with their new free pine script tutorial where I think I'll probably cover time zones and I'll show you how to plot data within a particular time zone so thank you for watching guys if you have any questions leave them in the comment section below and I'll get back to you as soon as I can otherwise I'm excited to see you guys in the advance pilot script course or on my next free video so I'll speak to you then take it easy everyone goodbye [Music]
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