How to define a default input value based on the market cap in pine

Question

I am trying to set the default value in the input field to be a certain starting value based on the marketcap of the security. I can't get it to work. There is a problem with the series and it's keeping the first constant definition fixed. Defining a variable also doesn't work. What is the correct way to do this? I want to be able to set "acc" to be a certain value based on the size of the marketcap. Here in this example I have simplified it to see if its working.

//@version=5
indicator("Factor", overlay=true, timeframe="", timeframe_gaps=true)
_Outstanding = request.financial(syminfo.tickerid, "TOTAL_SHARES_OUTSTANDING", "FQ")
_close = close
_mv = _Outstanding * _close
acc = 5.0

if _mv >= 1.0
    acc = 10.0
else
    acc = 2.0

atrfactor = input.float(acc, "factor", minval = 1.0, step = 0.1)
plotchar(_mv, "MV", "", location = location.top)

score 1 · Answer 1 · answered Jun 23 '23 at 14:04

Since the above code is not working and I have found a way to solve this I am posting my answer here for the people in the future looking for the same solution to my problem.

Here is the code:

//@version=5
indicator("Testcode" ,"Testing", true)
TSO = request.financial(syminfo.tickerid, "TOTAL_SHARES_OUTSTANDING", "FQ", ignore_invalid_symbol = true)
MarketCap = TSO * close
megacap = input.float(2.0, "Mega Cap", minval = 0.0, step = 0.1)
bigcap = input.float(3.0, "Big Cap", minval = 0.0, step = 0.1)
myfactor = (MarketCap >= 1000000000000) ? megacap : (MarketCap >= 10000000000) ? bigcap : 5.0
plotchar(myfactor, "myfactor", "", location = location.top)

which updates the myfactor variable in the Data Window

according to the type of stock you are looking at, here AAPL, SQ and TNDM for comparison

smashapalooza · Answer 2 · 2023-06-23T13:26:50.170

You need to use the reassignment operator := to change the value of acc. You can't have the input value be set to 'acc' but you can change the input value based on the market cap.

Below I set your 'atrfactor' input to 5.0. by default and then use the reassignment operator to change the value of the 'atrfactor'. I added the label so you can see the value change. It will always be 10 though since every company has a market cap greater than 1.0

//@version=5
indicator("Factor", overlay=true)
atrfactor = input.float(5.0, "factor", minval = 1.0, step = 0.1)
_Outstanding = request.financial(syminfo.tickerid, "TOTAL_SHARES_OUTSTANDING", "FQ")
_close = close
_mv = _Outstanding * _close

if _mv >= 1.0
    atrfactor := 10.0
else
    atrfactor := 2.0

plotchar(_mv, "MV", "", location = location.top)
if barstate.islast
    label.new(bar_index, high, str.tostring(atrfactor), color=color.aqua)

I have tried your code but the value still doesn't change its 5 still. The MV value is correct though and >1 so the atrfactor should be 10 and not 5 in the chart. — AndiAna, Jun 23 '23 at 08:33
not sure what you are doing different than, see attached image of copy and pasted code from above in the label the value of atrfactor is 10 not 5 — smashapalooza, Jun 23 '23 at 13:27

How to define a default input value based on the market cap in pine

2 Answers2