Understanding the strategy.opentrades.entry_comment() in Pine Script

The strategy.opentrades.entry_comment() function is a powerful tool in Pine Script designed for trading strategy development on the TradingView platform. This function retrieves the entry comment of an open trade, allowing developers to add descriptive text to their trade entries. It’s particularly useful for debugging or for providing additional context to the strategy’s operations.

Syntax

The syntax for the strategy.opentrades.entry_comment() function is straightforward:

strategy.opentrades.entry_comment(trade_num) → series string

• trade_num (series int): This argument specifies the trade number of the open trade for which you want to retrieve the entry comment. It’s important to note that trade numbering starts from zero, meaning the first trade initiated by the strategy is numbered as 0.

Example: Tracking Trade Entry Comments

To illustrate how strategy.opentrades.entry_comment() can be utilized within a Pine Script strategy, consider the following example. This script aims to demonstrate the function by tracking and displaying the comment of the last trade entry.

//@version=5
strategy("Trade Entry Comment Tracker", overlay = true)

entryMultiplier = open * 1.01

buySignal = ta.crossover(ta.sma(close, 14), ta.sma(close, 28))

if (buySignal)
    strategy.entry("GoLong", strategy.long, stop = entryMultiplier, comment = str.tostring(entryMultiplier, "#.####"))

var infoTable = table.new(position.top_right, 1, 3, color.blue, border_width = 1)

if barstate.islastconfirmedhistory or barstate.isrealtime
    table.cell(infoTable, 0, 0, 'Trade Entry Info')
    table.cell(infoTable, 0, 1, "Stop Price Comment: " + strategy.opentrades.entry_comment(strategy.opentrades - 1))
    table.cell(infoTable, 0, 2, "Entry Price: " + str.tostring(strategy.opentrades.entry_price(strategy.opentrades - 1)))

Detailed Walkthrough

1. Strategy Definition: The script starts with the definition of the strategy, including its name and setting overlay = true to display it directly on the price chart.
2. Entry Condition and Comment: The script calculates a stop price based on the opening price of the current bar (entryMultiplier) and defines a buy signal based on a simple moving average crossover. Upon detecting the buy signal, it enters a long position with a specific stop price and includes the stop price in the entry comment for reference.
3. Displaying Trade Information: The script uses a table to display the last entry’s details on the chart, including the entry comment retrieved by strategy.opentrades.entry_comment() and the actual entry price. This showcases how to access and display trade information dynamically as the strategy runs.

Key Features and Takeaways

• Retrieve Entry Comments: The strategy.opentrades.entry_comment() function is essential for accessing the comments associated with trade entries, enabling a deeper insight into the strategy’s execution.
• Debugging and Context: Using entry comments effectively can aid in debugging strategies and providing contextual information about each trade.
• Dynamic Information Display: Incorporating this function with Pine Script’s table functionalities allows for real-time tracking and display of trade-related data on the chart.

This detailed example and walkthrough demonstrate the practical use of the strategy.opentrades.entry_comment() function in Pine Script, emphasizing its role in enhancing strategy development and execution analysis.