YouTube Video Transcript
[Applause] [Music] hey this is david for big bibs and in this video we’re going to talk a little bit about why some of the data in trading view may not match what you would expect and this was something that was shared by the pine coders team on their telegram they called the squawk box if you’re curious you can find that uh by looking through the pine coders social media you can find access to that telegram it’s pretty easy but what we’re looking at here is something they’ve shared recently which is actually really helpful and it’s really important to know this when you’re trying to compare anything you’re doing outside of trading view to what’s going on inside a training view and also when you’re working in trading view if you’re working with these numbers that don’t match exactly with what you’re expecting it can really throw you off and make you second guess yourself like if you’re creating a calculation and the calculation is correct but yet your numbers don’t match it can kind of drive you mad trying to think why they don’t actually match what might be seen on the actual chart but just to be clear what you’re seeing here is the question they’ve added that is why do the ohlc the open high low and close built-in variables that you can use in pine why do these sometimes return different values than the ones shown on the chart now in this case it’s because the data feeds contain prices that exceed these symbols take precision and essentially what that means is it’s more precise than the data they expect so the example they give in just a moment is a pretty clear example but the tick size is usually the difference between the prices in the order books the minimum difference between the prices in the order book so if you put an order at a dollar for something the next closest could be you know one dollar and one cent so your tick size would be one cent so that’s what we’re talking about here but the reason that the prices might show up differently is because maybe the exchange changed their precision and now they allow you to do like a half penny so it’s 1.005 instead of 1.01 so in that case it would just round up on the chart and show you 1.01 instead of 1.005 which is the actual price that it traded at now i’ve already discussed that this is because they are not they are always rounded to the tick precision but the built-in prices are not they will actually give you the actual price that you’re seeing from the data feed from the exchange and this is their example here you get a closing price of 27 491.79 which is more precise than the symbols tick size of 0.1 and let me actually zoom in here so the tick size is 0.1 so technically this should either be 0.7 or 0.8 so it’s probably going to round up to 0.8 here and you can see it does tell you that it will round up to 0.8 and that the built-in value when you’re working with pine is still going to be 0.79 but the chart is going to show 0.8 that’s because it had to round to get you that value now this is a pretty simple concept but the reason i wanted to highlight this because it is kind of confusing when you’re coding things and you can’t get your numbers to match exactly this can be a reason why i know in the past i used to have this trouble a lot with bitmex when i was calculating some things and comparing them from my own system versus the bitmex data it would be slightly different but another thing that i wanted to share this for is because this article is really good this is their faqs and i will try and link this in the description of the video if i don’t remember please comment and let me know but this is the faq encode section you can learn a lot about their built-in variables the functions and just all kinds of other things in here including some techniques such as how do i save a value or state for later use now this is all pretty basic things but we’ve covered a lot of these in our videos already but these are really good text based references instead of having to go look at a video you can come here and you can find some of this information pretty quickly but if you want a video example to walk you through it and explain it i think i do a pretty good job of explaining things to where people can understand them pretty clearly and yeah so i have the basically the video reference for a lot of people uh on some of these trading view and pine related aspects and there’s a lot of good websites i think codify back test rookies there’s a couple more and then of course you have the pinecoders this faq is pretty handy and always there is the pine script reference manual which is really helpful as well but that’s pretty much it for the actual content of this video it’s really short video guys there’s a pretty simple concept we’re just kind of explaining something and why it happens in pine and i really just wanted to point out i know it’s been a little while since i’ve made a video i appreciate everyone kind of hanging around and people for subscribing and staying tuned and waiting patiently for another video i hope to have some more videos coming out soon but i hope you all understand i do have a very busy schedule right now uh we’ve been dealing with some illness we didn’t have covid thank goodness but my children and my wife were sick and then i was assigned some classes to teach at a community college so i’ve been working to get those set up and those take a lot of time to get set up and once they’re running it goes a lot smoother i have some other things going on and my kids are starting school back this week so it’s been a very busy time for me so i appreciate everyone being patient just staying subscribed and following me on twitter so you can get some updates now i will say that if you do follow me on twitter you will get some more updates because i do post on there it’s more convenient to post something really quickly such as some quick ta and i’ve been posting some things regarding bitcoin and ethereum i think a couple of altcoins as well that i’ve been watching but that’s going to do it for this video if you like the information please leave a like on the video and while you’re down there if you like the video i think it’d be a good idea for you go ahead and subscribe so you can see other videos like this one that do a lot of videos like this including the pond script tutorial series which is pretty popular here on youtube so that’s going to be it for the video guys thank you all and have a great day
YouTube Video Description
< br/> 🔻🔻🔻🔻 IMPORTANT LINKS BELOW 🔻🔻🔻🔻
Why TradingView Data May Not Always Be Accurate (OHLC Built-ins vs. Chart): In this TradingView Pine Script Tutorial/TradingView Update, we discuss why sometimes TradingView chart prices such as the Open, High, Low, or Close (OHLC) sometimes don’t match the values provided from the built-in variables in pine. With Pine Script it is very easy for even beginners to create their own indicators or strategies that have many other indicators within them. Once we have completed the script, we can see our results immediately and begin working with more functions, indicators, and strategies.
PineCoders Squawk Box: https://web.telegram.org/#/im?p=@PineCodersSquawkBox
FAQ Article: https://www.pinecoders.com/faq_and_code/#why-do-the-ohlc-built-ins-sometimes-return-different-values-than-the-ones-shown-on-the-chart
Social and other public profiles
💻 Website: https://www.bigbits.io
🎮 Discord: https://discord.gg/rapMn4z
🐦 Twitter: https://twitter.com/BigBitsIO
📔 Facebook: https://www.facebook.com/BigBitsIO/
📈 Buy, Sell and Trade Crypto on Binance.US with LOW fees: https://www.binance.us/?ref=35105151
🙋♂️ Want to buy crypto? Get $10 of bitcoin w/ your first purchase over $100: https://www.coinbase.com/join/johnso_dxz
📈 Sign up for a paid plan at TradingView and receive a $30 credit: https://www.tradingview.com/gopro/?share_your_love=BigBitsIO
💻 Browse privately and get rewarded with Brave Browser: https://brave.com/big406
🕹 Receive bonus perks when purchasing Lightnite Game: https://lightnite.io/ref=BigBits
VIEW ALL HERE: https://bigbits.io/bigbits-referrals/
DISCLAIMER: All my videos are for educational and entertainment purposes only. Nothing in this or any of my videos should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto coins and tokens. Consult with a professional financial advisor before making any financial decisions. Investing in general and particularly with crypto trading especially is risky and has the potential for one to lose most or all of the initial investment. In simple terms, you are responsible for your actions when trading.
#bitcoin #crypto #cryptocurrencies #tradingview #binance #binanceUS #coinbase
This channel focuses on Bitcoin, Ethereum, LiteCoin, Ripple, Link, Basic Attention Token and almost all cryptocurrencies that demand attention. Please like the video if you liked the video, and subscribe if you like these types of videos. David from BigBits is an experienced Software Engineer, but no one is perfect, If you find any issues with any of the open-source, free code, or code shown in videos please comment to let us know what to fix, we listen to our viewers!