OPEN-SOURCE SCRIPT

Change Analysis and Alerts

The "Change Analysis and Alerts" script in Pine Script allows you to analyze and visualize the percentage change of different values on a chart. It calculates the true change based on the closing prices and provides options to input custom values for comparison. The script also includes an alert feature that triggers when the true change exceeds a specified threshold.

Examples:

Analyzing True Change:

Show the true change between consecutive candle closes as a histogram.
Set a threshold for the true change and receive an alert when it surpasses the specified value.
Comparing Custom Values:

Input custom values to analyze the percentage change between different price levels (e.g., high-low, open-close).
Highlight the value with the highest change in each period.
Visualize the changes as columns on the chart for easy comparison.
By using the "Change Analysis and Alerts" script, traders and analysts can gain insights into the magnitude of price changes and receive alerts when significant changes occur.

Please note that this description and examples are provided for illustrative purposes and can be customized based on your specific needs and preferences.

If you need further assistance, feel free to ask.