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Action based on the color of an indicator or candlestick
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Action based on the color of an indicator or candlestick

  #1 (permalink)
Elite Member
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Action based on the color of an indicator or candlestick

First I apologize for not having any code already for this. I've looked and all I can find are examples on how to change the color of a candle or indicator. I would like to create a strategy based on the color of either an indicator or a price bar / candlestick, but for the life of me I cannot find what I need to call to be able to do that.

In short something like:

IF (BarColor[1] == "Green")
{
//buy
}


or

IF (IndicatorPlot[0][1] == "Green")
{
//buy
}



Any help is appreciated and again I apologize if it looks like I haven't done any research.... I have - I just have nothing to show for it.

TIA...

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  #2 (permalink)
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  #3 (permalink)
Market Wizard
Houston, TX
 
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Diamond5 View Post
First I apologize for not having any code already for this. I've looked and all I can find are examples on how to change the color of a candle or indicator. I would like to create a strategy based on the color of either an indicator or a price bar / candlestick, but for the life of me I cannot find what I need to call to be able to do that.

In short something like:

IF (BarColor[1] == "Green")
{
//buy
}


or

IF (IndicatorPlot[0][1] == "Green")
{
//buy
}



Any help is appreciated and again I apologize if it looks like I haven't done any research.... I have - I just have nothing to show for it.

TIA...

First, you have to identify what is making the bar color green / red. That's the key.

Example: say you have an indicator that colors the bar green if price closes above the 20 EMA or Red if price closes below the 20 EMA. The code in the indicator would look something like:
if(Close[0]>EMA(20)) BarColor = Color.Green.
if(Close[0]<EMA(20)) BarColor = Color.Red.

It's the code of the indicator that's coloring the bar in this example. So the strategy would have to be coded:

If(Close[0]>EMA(20)) EnterLong(DefaultQuantity, ""); (for long buy)
if(Close[0]<EMA(20)) EnterShort(DefaultQuantity, ""); (for short sell)

Something like that. Can you be specific as to what it is you want to do when such and such a condition occurs?
More information is needed in order to provide a specific answer.

After all, it's what you learn AFTER you know it all, that counts!
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  #4 (permalink)
Elite Member
omaha Nebraska
 
Futures Experience: Intermediate
Platform: ninjatrader
Broker/Data: Ninja
Favorite Futures: stocks, Futures ES, Options
 
Posts: 22 since Sep 2014
Thanks: 7 given, 13 received


TheWizard View Post

Something like that. Can you be specific as to what it is you want to do when such and such a condition occurs?
More information is needed in order to provide a specific answer.

It is for an overall strategy, and your response was very helpful! It gives me enough to keep going. Thank you!

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