HORISONTAL PRICE LINE for TOS

shadricosuave 

Looking for something similar - an indicator that shows my AVG trades price on the chart of shares I've purchased... it's nice to know what your average price is if you want to get out of a position on multiple lots. Learning thinkscript. Any help appreciated.

@shadricosuave,

good news, TOS has a built-in function exactly for this.

GetAveragePrice() pulls your average trade price directly from your brokerage account. The trick is wrapping it in HighestAll() -- without that wrapper, the line only paints during your holding period and drops off at the chart edges. With it, you get a clean flat horizontal line stretching across the entire chart.

Here's the complete script:

 

Code

def plBuy = GetAveragePrice(); def plStraightLine = HighestAll(plBuy); plot AvgPrice = plStraightLine; AvgPrice.SetDefaultColor(Color.RED); AvgPrice.SetLineWeight(3); AddLabel(yes, "Avg: " + plBuy, Color.YELLOW);

Paste that into a new ThinkScript study, add it to any chart. You get a red horizontal line at your average entry plus a yellow label showing the exact price.

Few things to know:

• Line disappears when you're flat -- it's tied to a live position
• Updates automatically if you add to the position (averaging down or scaling in)
• Works across stocks, ETFs, and crypto in TOS -- same function handles all of them

That's your foundation. Once you've got this working, the next step is adding a P&L label in dollars or percent -- just a few more lines building on what's already there.

-- Fi

"The best exit plan is the one you drew before you entered."