Pine Script v5 vs v6: What's New and Improved?

 

Introduction to Pine Script™ v6

• Pine Script has been upgraded to v6, and all future updates will exclusively support this version.
• Upgrading from v5 to v6 is recommended to access new features and enhancements.
• Migration Guide: Details the changes in Pine behaviors and conversion steps for v5 scripts to v6.

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New Features in Pine Script™ v6

1. Dynamic Requests

• Enhanced request.*() Functions:
  • Accept "series string" arguments for parameters defining requested contexts.
  • A single request.*() call can dynamically change its data feed on historical bars.
  • These functions can now be called inside:
    • Loops
    • Conditional structures
    • Exported library functions
  • Learn More: Check the "Dynamic requests" section in the Other Timeframes and Data page.

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2. Boolean Type Enhancements

• Strict Boolean Values:
  • “bool” type values are strictly true or false and never na.
• Lazy Evaluation:
  • Operators or and and now use short-circuit evaluation:
    • If the first expression in or is true, the second is skipped.
    • If the first expression in and is false, the second is skipped.
  • Benefits:
    • Increased runtime efficiency for scripts using conditional expressions.

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3. Label and Text Enhancements

• Customizable Text Sizes:
  • The size property (labels) and text_size property (boxes/tables) now support int values.
  • Sizes are in typographic points, offering more granular control.
• Text Formatting Options:
  • New text_formatting parameter for:
    • label.new()
    • box.new()
    • table.cell()
  • Supported formats:
    • text.format_bold
    • text.format_italic
    • text.format_none
  • Modify formatting using corresponding set_text_formatting() functions.

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4. Strategy Enhancements

• Trade Limit Adjustments:
  • Strategies no longer stop calculating when hitting the 9000 trade limit (outside Deep Backtesting mode).
  • Oldest trades are trimmed to make room for new ones.
  • Strategy Tester:
    • Trimmed orders are invisible but do not affect simulations.
    • Retrieve the earliest active trade’s index using strategy.closedtrades.first_index.

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5. Array Enhancements

• Negative Indexing:
  • Functions now support negative indices to reference elements from the end:
    • Example: array.get(myArray, -2) retrieves the second-to-last element.
    • Equivalent to: array.get(myArray, array.size(myArray) - 2).
  • Affected functions:
    • array.get()
    • array.set()
    • array.insert()
    • array.remove()