mellowmichellehe

Volumetric colored candles with matching pivot point lines

mellowmichellehe Mis à jour   
Candles are split into 10 categories based on their volume , and can be changed in the options. By default and in the images, white is very high volume , reds are high volume , yellows are medium volume , greens are low and dark-grey is very low.

Adjustments for scale are included in the options. The Magnitude option is a 10x multiplier, so 1=10, 2=100, 3=1000, etc., up to 9. There is also a Multiplier selection option where 1=1, 2=2, 3=3, 4=4, etc.

To attenuate for a given chart, these multipliers will need to be changed. In general, all white means you need to increase the Magnitude and all dark-grey means you need to decrease the magnitude. Somewhere between those two, the Multiplier can be used for further calibration. All this color coating is relational, like a spectrum. As you adjust you will see them maintaining their proportions as the candles switch color (ex. green become yellow while yellow becomes red).

I have also included pivot lines that follow the same logic for color coding. Two options exist for adjusting the pivot high and pivot low points respectively. They do not always correspond to the exact color of the candle producing them, but they should be a rough average ( ie . red and green bars making yellow lines). They make for good indicators of how much liquidity may be at a certain support/resistance level. The lines can also be turned off altogether.

If your candles aren't looking right, go to settings of both regular candles and heikin-ashi, and uncheck both border and wick.

I still have some code to clean up and I plan on expanding upon this study. If you like my work consider tipping!
Notes de version: This release was intended to offer a primitive method for saving a set of defaults for a given ticker's chart. Until I find a work around, the user must comment and uncomment 4 blocks of code that they will configure for up to six different tickers. The sets of defaults are in the go() function. Change use_default to false and then comment out the first block of code in the go() function. Uncomment the next block of code and replace defval for each option and set the corresponding ticker in symb=="ticker".

Removed option to select timeframe because it was jenky.
Notes de version: This release was intended to offer a primitive method for saving a set of defaults for a given ticker's chart. Until I find a work around, the user must comment and uncomment 4 blocks of code that they will configure for up to six different tickers. The sets of defaults are in the go() function. Change use_default to false and then comment out the first block of code in the go() function. Uncomment the next block of code and replace defval for each option and set the corresponding ticker in symb=="ticker".

Removed option to select timeframe because it was jenky.
Notes de version: Restoration of original commit where default options is default and not ADAUSD
Notes de version: Added maxval to options.
Notes de version: To clean up the pivot point lines, I disabled all lines that are less than 50% of the max volume, leaving only the high volume pivot point lines. This should save some chart space and help you adjust the High and Low Lengths to get the best pivot points.
Notes de version: I added the option to use an exponential metric to help flesh out the steeper inclines, resulting in smoother gradations of color. All colored lines except for dark-grey have been brought back and instead maxLines was lowered to reduce cluttering with too many pivot points..
Notes de version: Fixed issue where lines did not match the color of their corresponding pivot point candle.
Notes de version: Fixed default options.
Notes de version:
  • Removed option to change bar colors
  • Added settings to change line styles
  • Added labels showing the volume of the candle
Script open-source

Dans le véritable esprit de TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par le règlement. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.

Vous voulez utiliser ce script sur un graphique ?