Colouring candlesticks differntly

Colouring candlesticks differntly

Raju Harchandani
2010-09-19 12:13:59

Hi
I have to colour the candlesticks(quotes)
1) green if (MACD in another pane) is above zero red and above its signal line
2) red if it is below zero and below its signal line
and
3) black for all other conditions
HELP
Raju

QuantShare
2010-09-20 05:42:48

Hi,

Right click on the main pane, then click on "Edit Formula".

Under the "PlotCandleStick" function, type the following lines:

m = macd();
s = macdSignal(14);
UpdateColor(1, colorBlack);
UpdateColor(m > 0 and m > s, colorGreen);
UpdateColor(m < 0 and m < s, colorRed);

Raju Harchandani
2010-09-20 08:40:37

That is great ... now one more request
How do i put green up arrows below the green bars (above) which meet the following condition rsi above 70 and like wise red arrows pointing downwards above the red bars when rsi is below 30
Thanx in advance...
Raju

QuantShare
2010-09-21 06:30:24

Best Answer

Here is the formula you should add to create up and down arrows:

PlotArrow(m > 0 and m > s and rsi(14) > 70, "", BelowLow, colorGreen);
PlotArrow(m < 0 and m < s and rsi(14) < 30, "", AboveHigh, colorRed);

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