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Multiple Candle Coloring Indicators, Conflicts
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Multiple Candle Coloring Indicators, Conflicts

  #1 (permalink)
Patient Discipline
Bellingham, WA USA
 
Futures Experience: Beginner
Platform: NT
Broker/Data: Mirus (Broker), Continuum (Data), Dorman (Clearing)
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Multiple Candle Coloring Indicators, Conflicts

Howdy--

I was curious if anyone has had success with having multiple candle coloring indicators in use, and setting up the indicators such that the ultimate candle color is driven by all of the indicators and not just one.

For instance, let's say that I am currently using the MASlopeMulti indicator to plot an EMA-8 and EMA-20. And let's further say that I have the EMA-8 set up to paint the candle when the slope of the EMA-8 reaches a given threshold (let's assume the slope threshold is 35). Let's also assume that I have the EMA-20 set up to paint candles when the slope of the EMA-20 reaches a given threshold (let's assume the slope threshold is 20). Okay, so we have 2 indicators in the same chart, and each is set up to paint when their specific slope threshold is met.

I have observed that NT colors the candles incorrectly (ie, colors the candle) in the event that one condition is met (ie, color the candle) and the other is not (ie, do not color the candle). In my mind, the candle should not be colored until both indicator conditions are satisfied--not just one.

Is there a way to modify a given indicator's code such that candle coloring will only occur if and when all candle coloring conditions are met from multiple indicators?

I'm trying to separate the wheat from the chaff, and by having only candles colored that meet my specific criteria would be a HUGE help.

Please let me know if there are any questions.

I really appreciate your help.

Thanks,

Aventeren

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  #2 (permalink)
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  #3 (permalink)
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aventeren View Post
Howdy--

I was curious if anyone has had success with having multiple candle coloring indicators in use, and setting up the indicators such that the ultimate candle color is driven by all of the indicators and not just one.

For instance, let's say that I am currently using the MASlopeMulti indicator to plot an EMA-8 and EMA-20. And let's further say that I have the EMA-8 set up to paint the candle when the slope of the EMA-8 reaches a given threshold (let's assume the slope threshold is 35). Let's also assume that I have the EMA-20 set up to paint candles when the slope of the EMA-20 reaches a given threshold (let's assume the slope threshold is 20). Okay, so we have 2 indicators in the same chart, and each is set up to paint when their specific slope threshold is met.

I have observed that NT colors the candles incorrectly (ie, colors the candle) in the event that one condition is met (ie, color the candle) and the other is not (ie, do not color the candle). In my mind, the candle should not be colored until both indicator conditions are satisfied--not just one.

Is there a way to modify a given indicator's code such that candle coloring will only occur if and when all candle coloring conditions are met from multiple indicators?

I'm trying to separate the wheat from the chaff, and by having only candles colored that meet my specific criteria would be a HUGE help.

Please let me know if there are any questions.

I really appreciate your help.

Thanks,

Aventeren

@aventeren: It is not possible to blend colors from several candle painting indicators. You have to settle for one set of paintbars and exclude the other paintbars from your chart by switching them off.

If you really wish to generate painted candles from two different indicators, then you would need to code a new indicator that references the two indicators and paints composite colors to transmit the information that you want to see via your paintbars.

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  #4 (permalink)
Patient Discipline
Bellingham, WA USA
 
Futures Experience: Beginner
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Posts: 202 since Mar 2013
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Fat Tails View Post
@aventeren: It is not possible to blend colors from several candle painting indicators. You have to settle for one set of paintbars and exclude the other paintbars from your chart by switching them off.

If you really wish to generate painted candles from two different indicators, then you would need to code a new indicator that references the two indicators and paints composite colors to transmit the information that you want to see via your paintbars.

Thanks @Fat Tails; that's what I had been told, but I just wanted to see if anyone had successfully cracked this nut without coding a single monster indicator.

I really appreciate your time--and if my memory serves me right, you are currently battling a case of the flu. I wish you nothing but the absolute best.

Thanks,

Aventeren

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  #5 (permalink)
Market Wizard
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aventeren View Post
Thanks @Fat Tails; that's what I had been told, but I just wanted to see if anyone had successfully cracked this nut without coding a single monster indicator.

I really appreciate your time--and if my memory serves me right, you are currently battling a case of the flu. I wish you nothing but the absolute best.

Thanks,

Aventeren

@aventeren,

If you are a little creative you can find a simple workaround. The trick is to paint the candle body using one indicator and the candle outline using a different indicator.

The attached screenshot shows an example of my gradient bars indicator coloring the candle body and the candle outline is colored by the reversal Bar indicator.

Cheers!

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

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  #6 (permalink)
Patient Discipline
Bellingham, WA USA
 
Futures Experience: Beginner
Platform: NT
Broker/Data: Mirus (Broker), Continuum (Data), Dorman (Clearing)
Favorite Futures: Futures
 
aventeren's Avatar
 
Posts: 202 since Mar 2013
Thanks: 426 given, 191 received

Damn @aligator, that is a fine idea. Thanks!

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