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Grizz,
>These colors have nothing to do with the open > close,
>or the open < close, or even the trend.
I agree, but "over_invested" has already answered this:
>green or red colour depends on settings for higher close or
>lower close from previous day.
He also states correctly:
>candlesticks are either filled in, or not filled in depending on C>O
>or C<O.
>If you examine a candlestick
>chart carefully, you will find red bars not filled in where the close
>is higher than the prev close. You will also find the reverse cases.
I have found only the "reverse cases" :-)This means that if close>open
then the candle should NOT be filled in and vice-versa.
Now, given that the user has chosen green color for positive changes in
close
prices and red for negative ones, it is perfectly normal to notice every
combination of colors and fill ins in a chart:
red solid: C<O and C<ref(C,-1)
red empty: C>O and C<ref(C,-1)
green solid: C<O and C>ref(C,-1)
green empty: C>O and C>ref(C,-1)
>His Zig Zag Trend perfectly plots a +1
>for every green candle and a -1 for every red candle.
If you use a very small reversal amount,
for example 0.01 (but NOT just <1% as you suggest) then the SR ZZT
signals might -indeed- verify the change of color.
But this is a degradation of SR ZZT to a binary indicator that
simply shows the direction of close.
I didn't create it to be used in place of:
if(c>ref(c,-1),1, if(c<ref(c,-1),-1,0));
If what you are looking for is just a method to verify bar color transition,
then the above single code-line does the job just fine! You don't
need SR ZZT for that.
But, fortunately, SR ZZT is much more than that.
For example what if you really need peaks and troughs confirmation?
Would you use the above line or candlesticks colors for that?
>His extremely complex formula...
Grizz, are you sure you have seen complex formulas?
The heart of my "extremely complex formula" (by leaving out the user's
inputs and code optimization) can be "boiled down to" just 7
crystal-clear code lines! A nice comment I remember was:
"So simple solution to a problem!", which in this user's opinion means
that there is nothing complicated in this formula. I hope that most of the
rest agree with him :-)
Regards
Spyros
-- "grizz003" <grizz002@xxxxxxxxxxxxx> wrote: ---
Metastock candlestick bars are either red or green. These colors have
nothing to do with the open > close, or the open < close, or even the
trend. Sometimes a red candle has open > close, and sometimes a red
candle has open < close. Ditto the green candles. I always considered
color a quirk.
However, there is clearly some sort method to candle colors... here
is why:
I started examining Spyros Raftopoulos results for "Zig Zag Trend"
discussed in message # 4930. His Zig Zag Trend perfectly plots a +1
for every green candle and a -1 for every red candle. His extremely
complex formula can be boiled down to this simple statement:
if candle = green then +1 else -1
Grizz
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