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help with sierra custom study, color bar based on condition
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help with sierra custom study, color bar based on condition

  #1 (permalink)
Lake wales FL/ USA
 
Trading Experience: Intermediate
Platform: TOS ,Tradestation, Sierra
Favorite Futures: Futures
 
Posts: 37 since Jul 2013
Thanks: 8 given, 2 received

help with sierra custom study, color bar based on condition

Id like to make a custom study on Sierra charts. Using the color bar based on alert condition, a study that would plot a point if the current candle opens outside the range of open and close of the previous candle? High or low wouldn't matter, as long as its not opening in the body of previous candle?

thank you

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  #2 (permalink)
Phoenix AZ USA
 
Trading Experience: Advanced
Platform: SierraChart
Broker/Data: TradePro/TransAct
Favorite Futures: NQ YM
 
Posts: 342 since Nov 2009
Thanks: 143 given, 416 received

Answer
This post has been selected as an answer to the original posters question Answer

Try this:
=OR(AND(C[-1]>O[-1],O>C[-1]),AND(C[-1]<O[-1],O<C[-1]))

You can learn to do this yourself:

With Simple Alert syntax, the OHLC of a bar is:
Open = O
High= H
Low= L
Close=C

Previous bars are located with a [-1] suffix:
previous Open = O[-1]
previous High= H[-1]
previous Low= L[-1]
previous Close=C[-1]

OR and AND functions are opened and closed with parentheses ().

The Close of a [previous] candle is at one side of the candle body, either at the upper or lower.
If it is at the upper, then: C[-1]>O[-1] and the current open must be greater than the previous close: O>C[-1]
If it is at the lower, then: C[-1]<O[-1] and the current open must be less than the previous close: O<C[-1]

Since either can happen, they are combined with OR.

To make it visually easier, you can use spaces to separate sections:
=OR( AND( C[-1]>O[-1], O>C[-1] ), AND( C[-1]<O[-1], O<C[-1] ) )


Last edited by tomgilb; June 24th, 2019 at 01:01 PM.
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  #3 (permalink)
Lake wales FL/ USA
 
Trading Experience: Intermediate
Platform: TOS ,Tradestation, Sierra
Favorite Futures: Futures
 
Posts: 37 since Jul 2013
Thanks: 8 given, 2 received


Thanks, just what I was looking for.

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