Support Board
Date/Time: Fri, 07 Feb 2025 18:17:08 +0000
[User Discussion] - Color Bar indicator for comparison of Main/Study Divergence only
View Count: 1744
| [2016-01-09 17:37:37] |
| John M - Posts: 171 |
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I am trying to create a Color Bar indicator for a comparison of Price Candlesticks on the Main chart and the Candlesticks on the Study of Cumulative Delta Bars - Up/Down Tick Volume. What I want is an indicator that compares the positive/negative relationship of the Main Chart Price candles with the Cum. Delta Bars Candles such that it only gives an indication when the two are not the same; ie, normally the Price Candle and Cum. Delta Candle are simultaneously the same color, green for positive value and red for negative value for the candle period. When one is positive and the other negative, I want to note that divergence, ie, simultaneous green/red (+/-) occurrences. It seems that this could be a Color Bar Based on Alert Condition looking at ID1 for the Price Candlestick and ID2 (SG1, SG3 ?)for the Cum. Delta Candlestick. However, I am not certain how to address the SG for the Price formula to use for the Alert. Alternatively, it could be a Color Bar based on Slope at the Close of the candle period if that would show the divergence I am looking for, ie, simultaneous Price positive/ negative & Cum. Delta negative/positive. This would possibly be a comparison of the Alert for Change in Slope of the Main Chart and the Alert for Change in Slope of Cum. Delta Study and have a Color Bar Alert go off only when the two slope Alerts are different from each other. What is the best approach and how do you create this ? Is there a better way to achieve what I'm looking for? Help would be appreciated, thank you. |
| [2016-01-09 21:56:36] |
| Sawtooth - Posts: 4173 |
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Try this in the Alerts tab of the Color Bar Based On Alert Condition study: =OR(AND(C>O,ID2.SG4<ID2.SG1),AND(C<O,ID2.SG4>ID2.SG1)) where ID2 is the Cumulative Delta study. This is an indication of green/red or red/green occurrences. Try this for the alternative, based on the disparate slope of the close of both: =OR(AND(C>C[-1],ID2.SG4<ID2.SG4[-1]),AND(C<C[-1],ID2.SG4>ID2.SG4[-1])) The former formula does not deal with dojis, and the latter does not deal with zero slopes. Formulas for these are more involved. Date Time Of Last Edit: 2016-01-10 01:53:03
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| [2016-01-09 23:29:00] |
| John M - Posts: 171 |
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Thank you so much tomgilb !
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