Live Trading Metrics Dashboard

The Live Trading Metrics Dashboard indicator provides a real-time table display of essential momentum and volatility metrics directly on the chart, helping traders make data-driven decisions without cluttering their workspace.

Usage

The indicator can be used by day, swing, and position traders to monitor current market conditions at a glance.

• IBD Relative Strength (RS): This metric uses a weighted formula to compare the current instrument's performance against its historical price action over a one-year period (3, 6, 9, and 12 months). A positive value indicates the instrument is showing strength relative to its history, while a negative value suggests relative weakness.
• 1.5 ATR: By calculating 1.5 times the 14-period Average True Range, this metric offers a dynamic reference for setting stop-loss levels or determining trade volatility. It is particularly useful for establishing "breathing room" for trades.
• 1.5 ATR %: This displays the 1.5 ATR value as a percentage of the current price. This allows for cross-asset comparisons, enabling traders to understand the relative volatility of a high-priced stock versus a low-priced one.

Details

The script executes a weighted momentum calculation based on the Investor's Business Daily (IBD) methodology:

• 40% weight to the 3-month performance.
• 20% weight each to the 6-month, 9-month, and 12-month performance.

The dashboard is generated using the TradingView table object and is anchored to the bottom right of the chart. It updates in real-time on the latest bar to ensure the displayed metrics reflect the most current market data.

Settings

Colors

• Background Color: Sets the background color for the populated data cells within the table.
• Text Color: Adjusts the color of the labels and numerical values displayed in the table.
• Empty Cell Color: Determines the color of the padding/empty cells used for table formatting.

FAQ

How do I access the Live Trading Metrics Dashboard?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

What does a crossing of 0 in the IBD RS mean?

A crossover above 0 indicates the instrument's weighted performance has turned positive relative to the last year of price action, often signaling a shift toward bullish momentum.

Can I move the dashboard to a different corner?

In the current version, the dashboard is anchored to the bottom right. You can modify the position.bottom_right parameter in the source code if you wish to move it to a different location.