table.new Function In Pinescript

One of the many interesting features it offers is the ability to create tables using the table.new function. In this blog, we will delve into the specifics of this function and how to use it effectively.

Understanding the table.new Function

What is table.new?

table.new is a function that creates a new table in Pine Script. The basic syntax for this function is as follows:

table.new(position, columns, rows, bgcolor, frame_color, frame_width, border_color, border_width) → series table

This function returns the ID of a table object that can be passed to other table.*() functions.

Arguments of table.new

The table.new function takes the following arguments:

1. position: Position of the table. Possible values range from top_left, top_center, top_right to middle_left, middle_center, middle_right, and bottom_left, bottom_center, bottom_right.
2. columns: The number of columns in the table.
3. rows: The number of rows in the table.
4. bgcolor: The background color of the table. This is optional, and the default is no color.
5. frame_color: The color of the outer frame of the table. This is also optional, and the default is no color.
6. frame_width: The width of the outer frame of the table. Again, this is optional, and the default is 0.
7. border_color: The color of the borders of the cells (excluding the outer frame). This is optional, and the default is no color.
8. border_width: The width of the borders of the cells (excluding the outer frame). This is optional, and the default is 0.

Remarks

This function creates the table object itself, but the table will not be displayed until its cells are populated. To define a cell and change its contents or attributes, use table.cell and other table.cell_*() functions.

For performance reasons, it is advisable to use table.new in conjunction with either the var keyword or in an if barstate.islast block.

A Practical Example

Here is a practical example of how the table.new function is used in Pine Script:

//@version=5
indicator("table.new example")
var testTable = table.new(position = position.middle_right, columns = 2, rows = 1, bgcolor = color.yellow, border_width = 1)
if barstate.islast
    table.cell(table_id = testTable, column = 0, row = 0, text = "Open is " + str.tostring(open))
    table.cell(table_id = testTable, column = 1, row = 0, text = "Close is " + str.tostring(close), bgcolor=color.teal)

In this example, we first create a new table with two columns and one row, placed at the top right of the chart. The background color of the table is yellow, and the border width is 1. We save the table’s ID in the testTable variable.

Next, we use if barstate.islast to ensure the following operations only occur on the last bar. In these operations, we populate the table’s cells using table.cell. The first cell (0, 0) displays the open price, while the second cell (1, 0) displays the close price with a teal background color.

Key Takeaway

The table.new function in Pine Script is a versatile and effective tool that allows users to create and customize tables to fit their trading needs. By understanding and utilizing this function, users can enhance their data presentation and trading strategies. Remember to use the var keyword or the if barstate.islast block for better performance when using table.new.

Conclusion

Pine Script provides an array of robust functions for technical analysis and table.new is one of them. Mastering this function can help you to create more visually engaging and informative tools, and possibly unlock new ways to present and analyze your trading data. Continue exploring Pine Script to see what else you can achieve.