Understanding the label.get_x() Function in Pine Script

In this article, we delve into the label.get_x() function, a key component for working with labels in Pine Script.

Introduction to label.get_x()

The label.get_x() function is used to retrieve the X-position of a label, which can be expressed either as a UNIX timestamp or a bar index. This depends on how the label’s position is defined when using the xloc argument in label creation functions.

Syntax

label.get_x(id) → series int

Arguments

• id (series label): This is the label object from which you want to get the X-position.

Example

Let’s explore an example to understand how label.get_x() is used in practice:

//@version=5
indicator("Get label X-position", overlay=true)
mySpecialLabel = label.new(bar_index, close, text="Current Close", xloc=xloc.bar_index)
labelXPosition = label.get_x(mySpecialLabel)
plot(bar_index - labelXPosition) // This will draw a zero plot

Walkthrough of Code

1. Version Declaration: //@version=5
   • This line specifies that the script uses version 5 of Pine Script. It’s necessary for compatibility and to ensure the script utilizes the features and syntax of the correct version.
2. Indicator Declaration: indicator("Get label X-position", overlay=true)
   • The indicator function declares a new indicator with the name “Get label X-position”.
   • The overlay=true parameter ensures that the indicator is drawn directly on the price chart, rather than on a separate panel below it.
3. Label Creation: mySpecialLabel = label.new(bar_index, close, text="Current Close", xloc=xloc.bar_index)
   • label.new is used to create a new label on the chart. This label is assigned to the variable mySpecialLabel.
   • The first argument, bar_index, sets the label’s X-position to the current bar’s index.
   • The second argument, close, sets the label’s Y-position to the current bar’s closing price.
   • The text="Current Close" parameter specifies the text displayed on the label.
   • xloc=xloc.bar_index determines that the label’s X-position is based on the bar index, allowing it to move along with the bar’s index.
4. Retrieving Label X-Position: labelXPosition = label.get_x(mySpecialLabel)
   • label.get_x is used to retrieve the X-position (in terms of bar index) of the label created earlier. This X-position is stored in the variable labelXPosition.
   • The argument mySpecialLabel refers to the label object from which the X-position is to be retrieved.
5. Plotting: plot(bar_index - labelXPosition) // This will draw a zero plot
   • This line plots the difference between the current bar index and the label’s X-position.
   • Since labelXPosition is obtained from a label that is always placed at the current bar’s index (bar_index), the difference bar_index - labelXPosition will always be zero.
   • As a result, this code draws a horizontal line at the zero level on the chart, effectively demonstrating that the label’s X-position matches the current bar index.

Returns

The label.get_x() function returns an integer series, representing either:

• A UNIX timestamp in milliseconds if the label’s X-position was set using xloc.bar_time.
• A bar index if the label’s X-position was set using xloc.bar_index.

Key Features

• Function Usability: The label.get_x() function is essential for scripts that need to dynamically track or manipulate the position of labels on the chart.
• Syntax and Application: It requires a label ID as an argument, making it straightforward to use within scripts that involve multiple labels.
• Versatility: This function supports both time-based and index-based label positioning, enhancing its utility across different types of trading analysis and strategies.

Takeaways

• The label.get_x() function retrieves the X-position of a label, useful for annotations and analysis on TradingView charts.
• It returns either a UNIX timestamp or a bar index, depending on the label’s position setting.
• This function is pivotal for scripts requiring dynamic label manipulation, offering simplicity and versatility in application.

By understanding and applying the label.get_x() function, Pine Script users can enhance their charting annotations, making their trading strategies more insightful and effective.