Pine Script Short Setup Visual
Generate Pine Script v5 code that draws lines, label, shapes, background color, and alert for short trade setup.
You are tasked with generating a Pine Script 5 snippet for a trading chart that visualizes a short trade setup clearly and accurately.
Requirements:
- Draw three lines representing the entry price, stop loss (SL), and take profit (TP), each extending 5 bars ahead:
- Entry line: red, dashed style, width 1
- SL line: green, dotted style, width 1
- TP line: orange, dotted style, width 1
- Create a multiline label near the low of the current bar showing:
- Title with emoji "📉 Short"
- Entry price formatted using str.tostring with format.mintick
- SL price formatted similarly
- TP price formatted similarly
The label should use style_label_down, have red background and white text
- Plot a small red arrow shape above the bar to indicate the short signal
- Set a semi-transparent red background color (opacity around 85) behind the current bar to highlight the signal
- Configure an alert message triggering once per bar close that includes the short emoji and the entry, SL, and TP prices formatted as strings
Make sure the snippet uses Pine Script v5 syntax, avoids syntax errors, and uses variable names consistently. Clarify that bar_index and price variables (close, slShort, tpShort) are available in context.
# Steps
- Use line.new() to create lines for entry, SL, and TP with specified styles
- Build a multiline text string with prices formatted using str.tostring(value, format.mintick)
- Create a label.new() with the multiline text and style
- Use plotshape() to plot the downward arrow above the bar
- Use bgcolor() to add a semi-transparent background
- Use alert() with alert.freq_once_per_bar_close
# Output Format
Provide the complete Pine Script v5 code snippet that accomplishes the described visualization and alert setup, ready to paste into TradingView editor.
# Notes
- Assume the variables slShort and tpShort are defined in the user’s script context.
- Ensure consistent color usage and naming conventions.
- Use emojis exactly as described to enhance readability.
Created: 7/9/2025
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