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Hi marketmonk777,
Thursday, December 22, 2005, 12:31:54 PM, you wrote:
m> Thanks for the tip. I did play with this a little bit and it may
m> allow me to accomplish what I would like to do but haven't been able
m> to so far.
m> So allow me to descibe how I think Stockcharts colors their candles.
m> Rule # 1: Close today >= Close yesterday "Hollow White Candle"
m> Rule # 2: Close today <= Close yesterday "Filled Red Candle"
Rules 1 and 2 are in conflict, because they both use 'or equal'. Only
one of them can use that. (If the stock closes unchanged, would you
like hollow white or filled red, because you cannot have both, and
I'm assuming none of your other rules would trigger, although they
might.)
m> Rule # 3: Open today above yestedays close and closes today lower
m> than the open. "Black Candle" Opens bullishly but closes bearishly
m> Rule # 4: Open today below yesterdays close and closes today higher
m> than the open. "Hollow Red Candle" Opens bearishly but closes bullishly.
m> That's my take on the coloring of the candles. What I am attempting
m> to do is to mimick this coloring as close as possible. Rule # 4 may
m> have to have an Orange color as I am not sure we can programatically
m> change the color of the outline.
m> So it looks like I would like to have 4 different colors (White, Red,
m> Black, and Orange) based on the 4 rules above.
m> This is what I will be trying to implement over the holidays.
m> Trade well,
I think you will have to do all this by code per chart. First, you
will name and define some variables.
For example: BearishClose = O > Ref(C,-1) AND C < O;
Then, once you have named and defined all your variables, have a look
at nested IIF() statements for your Plot or Title statements.
For example:
up = MA(OBV(),30) > Ref(MA(OBV(),30),-1);
Plot(MA(OBV(),30),"OBV 30-SMA", IIf(up, colorDarkGreen, IIf(down,
colorYellow, colorBlack)), styleLine);
You can nest all the IIF()s you like, I believe, so you can cover all
your variables. Just make sure to have a closing parenthesis for each
instance, and remember that the last instance needs an "if none of
the conditions apply".
Yuki
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