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Sorry for a few typos in my previous message, I was in a hurry and
clicked on "send" too early.
it should read:
> I've attached a picture how one of my color coders looks unter Metastock:
...under Metastock...
> the candle body is always drawn in the color specified in
> preferences/colors, when the "preferences/charting/candlesticks=body
> outline and shadows".
when the mode is "preferences/charting/candlesticks=body outline and
shadows"
+++
while we are at it, I don't want to bother anyone. I just think that
it's an extremely useful feature if the conceptual design of the program
_separates_ the appeareance of a candle (hollow body for upcandles,
filled body for downcandles) from the color in which an individual
candle is drawn. This is possible in Metastock and adds an additional
layer of information.
In many charting programs, however, the candle body is always filled
and color information is used for distinguishing up- and downcandles.
With these programs, however, color information cannot be effectively
used to indicate technical criteria, because if this is done, the
up-/down candles can no longer be distinguished anymore. This is the
drawback in your screenshot, Jayson (msg. 40728). While you have
colored the candles in the chart of CSCO according to technical
criteria, you can no longer distinguish up- from downcandles, because
you have set preferences/charting/candlesticks to none. This is clear
loss of information. Compare it with my screenshot attached in msg.
40738, where the type of the candle (up/down) can be recognized
independent of the color the candle is drawn in, while the candle color
can indicate technical criteria such as the trend strength.
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