Floating Labels System

Overview

The Floating Labels system provides dynamic, right-side labels that display key technical information including Bollinger Band values, EMA extensions, pivot points, and Low of Day levels. These labels update in real-time and can be positioned to avoid chart clutter.

Label Types

1. Bollinger Band Values Label

Location: Below price (low[1] - 2 * ATR)
Content: BB values for multiple timeframes (30m, 1h, 2h, 4h, 6h)
Format:

30M: lower / upper
1H: lower / upper
2H: lower / upper
4H: lower / upper
6H: lower / upper

Color: Blue background, white text
Status: Currently shows placeholder values (calculations removed to reduce calls)

2. EMA Values Label

Location: Above price (low[1] + 2 * ATR)
Content: Extended EMA values and percentages
Format:

EMA (hourly): X% (value) / extended
EMA: X% (value) / extended
EMA: X% (value) / extended
EMA: X% (value) / extended

Background: Green when positive, red when negative
Color: White text

3. Pivot Points Label

Location: Above price (low[1] + 4 * ATR)
Content: R1, Pivot, S1, S2 values
Format: R1: X.XXX \Pivot: X.XXX \S1: X.XXX \S2: X.XXX
Color: Orange background, white text

4. Low of Day Label

Location: At previous day’s low price
Content: Previous day’s low value
Format: Price value
Background: Green if low < close, red if low > close
Color: White text

Configuration Options

Display Toggles

Remove Right Sided Floating Prices: Master toggle to hide all floating labels
Show Pivot Labels: Toggle pivot point label
Right Sided Floats Offset: Number of bars offset (default: 15)

Visual Settings

Label Style: Left-aligned labels
Label Colors: Customizable per label type
Position Offset: Configurable bar offset

Technical Details

Label Management

// Label creation with cleanup
var label bb_label = na
if not na(bb_label)
    label.delete(bb_label)
if not remove_floats
    bb_label := label.new(bar_index + float_offset, price, text, ...)

Dynamic Positioning

Labels positioned relative to current bar index
Offset adjustable to avoid overlap
Y-position based on price levels (ATR multiples)

Update Logic

Labels update on each bar
Previous labels deleted before creating new ones
Prevents label accumulation

Trading Applications

Quick Reference

BB Values: Quick reference for support/resistance levels
EMA Extensions: See how extended price is from key MAs
Pivot Points: Intraday support/resistance levels
LoD: Previous day’s support level

Position Management

LoD Label: Visual reference for stop placement
Pivot Label: Entry/exit levels for day trading
EMA Label: Extension levels for position sizing

Best Practices

Adjust Offset: Set offset to avoid overlapping with price action
Use Selectively: Enable only labels you actively use
Combine with Lines: Labels complement line drawings
Clean Display: Hide labels when not needed to reduce clutter
Multiple Timeframes: Check labels on different timeframes