You can customize several options:
- The message text
- How high above the latest price the message is displayed
- How often it is displayed. 1=display constantly, 2=only show it during every other period, 3=only show it every 3rd new period, etc. So, for example, if you are on the 15 minute chart, and set a frequency of 3, it will show it for the first 15 minutes out of every 45.
- Color and lightness. This can be used as an example of how to add a color selection input to your own scripts.
Note: by positioning using time instead of bar index, it would be possible to move the text ahead (to the right of) the last bar, but I've found that this gets complicated because you have to account for the time frame of the graph, so I leave this as an exercise for someone else.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.