Question
Answer and Explanation
In Pine Script, accessing yesterday's close involves using built-in variables and functions to retrieve historical data. Pine Script provides a way to reference previous values of a series, including the close price.
Here’s how you can get yesterday's close in Pine Script:
1. Using the `close` variable with history referencing:
- The `close` variable represents the closing price of the current bar.
- To access yesterday's close, you can use the history referencing operator `[]` with an offset of 1. This retrieves the value from the previous bar (day, in daily timeframe).
2. Example Code:
//@version=5
indicator("Yesterday's Close", overlay=true)
yesterdaysClose = close[1]
plot(yesterdaysClose, color=color.red, title="Yesterday's Close")
- `//@version=5`: Specifies the Pine Script version.
- `indicator("Yesterday's Close", overlay=true)`: Declares a new indicator named "Yesterday's Close" that overlays on the price chart.
- `yesterdaysClose = close[1]`: Assigns the closing price of the previous bar (yesterday) to the variable `yesterdaysClose`.
- `plot(yesterdaysClose, color=color.red, title="Yesterday's Close")`: Plots yesterday's closing price as a red line on the chart.
3. Explanation:
- `close[1]` accesses the close price from the previous bar. The index `1` means "one bar ago." If you are on a daily chart, this is yesterday’s close. If you are on an hourly chart, this is the close of the previous hour.
- If you need to access the close from two days ago, you would use `close[2]`, and so on.
4. Important Considerations:
- Timeframe: Ensure you are using the correct timeframe for your analysis. The above example works best on daily or higher timeframes, where each bar represents a day.
- Data Availability: The script assumes there is available historical data. If you are at the beginning of a dataset, accessing `close[1]` might return `na` (not available).
By following these steps, you can effectively retrieve and use yesterday's closing price in your Pine Script trading strategies or indicators.