Building Custom Gauges for Values Within a Range

Summary

This Pine library creates a visual gauge for a numeric value between a specified minimum and maximum. It divides the scale around the midpoint, colors the active portion according to the value’s position, and displays percentage markers and endpoint labels. Users can choose vertical or horizontal orientation and configure the title, labels, sizing, alignment, and colors.

The document explains the library’s parameters and provides implementation details for rendering the gauge through companion display libraries. It describes a visualization component rather than a trading signal or tested strategy: there is no performance evidence, forecast, or guidance on interpreting gauge readings for trades. The gauge’s usefulness depends on selecting meaningful bounds and supplying an appropriate value; the display alone does not establish what a value implies for market direction or risk.

Key ideas

• The gauge maps a supplied number onto a scale bounded by user-defined minimum and maximum values.
• The midpoint separates the lower and upper portions of the scale, and color gradients indicate position within those portions.
• Scale granularity, orientation, labels, title, alignment, and colors can be customized.
• The library provides a display mechanism, not a validated trading signal or standalone interpretation method.

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