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Title: Four Point Indicator
Hi,
Here is an indicator that I wrote over the weekend. It should be used on a bar chart. The indicator compares the current close to the close 4 bars earlier (this can be changed). The colour differences indicate whether the open is above or below the close, is the same, or is a within bar. I would appreciate some feedback from others and their ideas. When I wrote it I was thinking about intraday charts, but it should work well on all timeframes. If you have problems with the listing below, I also attached it as a file.
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//////////////////////////////////////////////////////////
// Four Point
//////////////////////////////////////////////////////////
Periods = Param("Periods", 4, 2, 200, 1, 1 );
uh = ParamColor("Strong Up",colorBlue);
uw = ParamColor("Weak Up",colorLightBlue);
dh = ParamColor("Strong Down",colorRed);
dw = ParamColor("Weak Down",colorPink);
thesame = ParamColor("Sideways",colorGreen);
within = ParamColor("Within Bar",colorYellow);
background =""> ParamColor("Background Colour",colorLightGrey);
SetChartBkColor(background);
for ( i = Periods+1; i < BarCount; i++ ) // we start calculations from 'Periods' bar. Previous bars are set to null
{
// Going up
if (Close[i] > Close[i-Periods]){ // the close is higher than number of periods before
if(Close[i] > Open[i]){ // and the close is higher than the open
if (High[i]<=High[i-1] AND Low[i]>=Low[i-1]){ // but if it is a within bar
colour[i] = within; // It's a withing bar, so give it the within colour
}else{
colour[i] = uh; // It's a strong up bar, so give it the strong up colour
}
}else{
colour[i] = uw; // It's a weak up bar, so give it the weak up colour
}
// Going down
}else if (Close[i] < Close[i-Periods]){ // the close is lower than number of periods before
if(Close[i] < Open[i]){ // and the close is lower than the open
if (High[i]<=High[i-1] AND Low[i]>=Low[i-1]){ // but if it is a within bar
colour[i] = within; // It's a withing bar, so give it the within colour
}else{
colour[i] = dh; // It's a strong down bar, so give it the strong down colour
}
}else{
colour[i] = dw; // It's a weak down bar, so give it the weak down colour
}
}else{
colour[i] = thesame; // the close is the same as the number of periods before
}
}
Plot( Close, "Four Point", colour, styleBar);
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//////////////////////////////////////////////////////////
// Four Point
//////////////////////////////////////////////////////////
Periods = Param("Periods", 4, 2, 200, 1, 1 );
uh = ParamColor("Strong Up",colorBlue);
uw = ParamColor("Weak Up",colorLightBlue);
dh = ParamColor("Strong Down",colorRed);
dw = ParamColor("Weak Down",colorPink);
thesame = ParamColor("Sideways",colorGreen);
within = ParamColor("Within Bar",colorYellow);
background = ParamColor("Background Colour",colorLightGrey);
SetChartBkColor(background);
for ( i = Periods+1; i < BarCount; i++ ) // we start calculations from 'Periods' bar. Previous bars are set to null
{
// Going up
if (Close[i] > Close[i-Periods]){ // the close is higher than number of periods before
if(Close[i] > Open[i]){ // and the close is higher than the open
if (High[i]<=High[i-1] AND Low[i]>=Low[i-1]){ // but if it is a within bar
colour[i] = within; // It's a withing bar, so give it the within colour
}else{
colour[i] = uh; // It's a strong up bar, so give it the strong up colour
}
}else{
colour[i] = uw; // It's a weak up bar, so give it the weak up colour
}
// Going down
}else if (Close[i] < Close[i-Periods]){ // the close is lower than number of periods before
if(Close[i] < Open[i]){ // and the close is lower than the open
if (High[i]<=High[i-1] AND Low[i]>=Low[i-1]){ // but if it is a within bar
colour[i] = within; // It's a withing bar, so give it the within colour
}else{
colour[i] = dh; // It's a strong down bar, so give it the strong down colour
}
}else{
colour[i] = dw; // It's a weak down bar, so give it the weak down colour
}
}else{
colour[i] = thesame; // the close is the same as the number of periods before
}
}
Plot( Close, "Four Point", colour, styleBar);
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