Indicator example

Ulcer Index

Readonly source from tests/EasyLanguage/David_EasyLanguage, generated Pine Script v6, and an expiry-free example EX5.

Convert your script How the full workflow works

Original EasyLanguage

{ Search Tag: WA-Ulcer Index }

inputs:
	Price( Close ) [DisplayName = "Price", ToolTip = 
	 "Enter an EasyLanguage expression to use in the calculation of the Ulcer Index."],
	Length( 14 ) [DisplayName = "Length", ToolTip = 
	 "Enter the number of bars to be used in the calculation of the Ulcer Index."],
	SafeLevel( 5 ) [DisplayName = "SafeLevel", ToolTip = 
	 "Enter a value below which downward volatility is considered to be low."] ;

variables:
	UlcerX( 0 ) ;

UlcerX = UlcerIndex( Price, Length ) ;
 
Plot1( UlcerX, !( "UlcerX" ) ) ;
Plot2( SafeLevel, !( "SafeLevel" ) ) ;

if AlertEnabled and UlcerX crosses over SafeLevel then
	Alert( !( "Indicator crossing over Safe Level" ) ) ;


{ ** Copyright © TradeStation Technologies, Inc.  All Rights Reserved ** 
  ** TradeStation reserves the right to modify or overwrite this analysis technique 
     with each release. ** }

Generated Pine Script v6

//@version=6
indicator("UlcerIndexIndicator", overlay=true)

// dependencies:
__el_ulcer_index(float source, int length) =>
    float peak = ta.highest(source, length)
    float drawdownPercent = peak == 0 ? 0 : 100 * (source - peak) / peak
    math.sqrt(ta.sma(drawdownPercent * drawdownPercent, length))

price = input.source(close, "price")
length = input.float(14.0, "length")
safelevel = input.float(5.0, "safelevel")
var float ulcerx = 0
float __el_plot1 = na
color __el_plot1_color = color.blue
float __el_plot2 = na
color __el_plot2_color = color.blue
__el_call1 = __el_ulcer_index(price, int(length))
if bar_index >= 13
    ulcerx := __el_call1
    __el_plot1 := ulcerx
    __el_plot2 := safelevel
    if true and ta.crossover(ulcerx, safelevel)
        alert("Indicator crossing over Safe Level", alert.freq_once_per_bar)
plot(__el_plot1, title="UlcerX", color=__el_plot1_color)
plot(__el_plot2, title="SafeLevel", color=__el_plot2_color)

Compiled MetaTrader 5 example

The EX5 uses the original script filename stem and has no PineAnywhere expiration guard.

Download UlcerIndexIndicator.ex5