Building a Semicircular Speedometer for Oscillator Readings

Summary

This indicator provides reusable drawing functions for a semicircular gauge in a separate chart pane. It maps a normalized value from zero to one hundred onto a needle, and lets users draw colored sectors, tick marks, labels, a baseline, and a title. Inputs control the gauge’s bar-based radius, horizontal offset, vertical placement, and vertical scale. Its example uses RSI as the needle value and displays the conventional zero-to-one-hundred oscillator range.

The toolbox is a visualization aid rather than a trading system: it contains no entry, exit, or risk rules and reports no strategy results. The author’s comments warn that drawing many line segments can exceed platform rendering limits, so sector detail must be balanced against available line objects. Values from indicators outside the target range need normalization before they can be meaningfully shown on the gauge.

Key ideas

• The gauge maps a normalized oscillator value to a needle on a semicircle.
• Separate functions draw sectors, ticks, labels, the baseline, and a title.
• Radius, offset, and vertical scaling adjust the gauge’s layout.
• The example displays RSI, but other metrics require suitable normalization.
• The drawing approach is constrained by chart rendering limits on line objects.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.