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PINE LIBRARY
Updated

CommonMarkup

Library "CommonMarkup"
Provides functions for chart markup, such as indicating recession bands.

markRecessionBands(showBands, lineY, labelY)
  Mark vertical bands and show recession band labels if argument showBands is true. Example "markRecessionBands(bar_index[0],3.0"
  Parameters:
    showBands: - show vertical recession bands when true. Functionally equiv to no op when false
    lineY: - y-axis value for line positioning
    labelY: - y-axis value for label positioning
return true - always answers the value of showBands
Release Notes
Common markup lib v2. Changes as follows:
  • Added 2022 contraction over Q1 to Q2
  • Updated time refs to be UTC+0
Release Notes
Minor cosmetic rendering updates
Release Notes
v4 - minor display and formatting updates for readability
Release Notes
v5
Added control parameter for defining if 2 consecutive quarters of negative GDP is considered a recession
Updated:
markRecessionBands(showBands, twoQrtsOfNegativeGDPIsRecession, lineY, labelY)
  Mark vertical bands and show recession band labels if argument showBands is true. Example "markRecessionBands(bar_index[0],3.0"
  Parameters:
    showBands: - show vertical recession bands when true. Functionally equiv to no op when false
    twoQrtsOfNegativeGDPIsRecession: - if true, then periods with two consecutive quarters of negative GDP is considered a recession. Defaut is false.
    lineY: - y-axis value for line positioning
    labelY: - y-axis value for label positioning
return true - always answers the value of showBands
Release Notes
v6

Updated:
markRecessionBands(showBands, twoQrtsOfNegativeGDPIsRecession, labelY)
  Mark vertical bands and show recession band labels if argument showBands is true. Example "markRecessionBands(bar_index[0],false3.0)"
  Parameters:
    showBands (bool): - show vertical recession bands when true. Functionally equiv to no op when false
    twoQrtsOfNegativeGDPIsRecession (bool): - if true, then periods with two consecutive quarters of negative GDP are considered a recession. Defaut is false.
    labelY (float): - y-axis value for label positioning
return true - always answers the value of showBands
Release Notes
v7
Updated:
  1. Resolved issue with private function for drawing recession bands scaling the y-axis excessively
foosmoo
bandsdisplayformattingMarket Geometryrecessions

Pine library

In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in a publication is governed by House rules.

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