Line Colorizer - Durbtrade

4 mai 2023

The Line Colorizer is a simple indicator that can plot up/down-colorized lines for up to 10 unique individual sources!

Plot up/down colors are based on whether the current value is above or below the previous value.
Also included is a separate color for when the current value is equal to the previous value.

All colors can be modified, along with the plot styles.

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Here is the Inputs tab of the Settings menu :



As you can see, you can plot a colorized line of up to 10 individual sources!
Checking the checkbox turns on that particular colorized plot,
and clicking on the drop down menu allows you select the source for that plot.

The plot styles, up/equal/down colors, and opacities
are customizable under the Style tab within the Settings menu :



Overall, it is pretty easy to use.

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Let's look at some examples of the Line Colorizer being used...

Colorize a basic Bollinger Bands indicator :



Want to colorize 3 EMA's? Go for it :



Spice up the standard MACD salad :



Customize the colors of your RSI's :



Try using the Line Colorizer on all of your favorite indicators.

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Script Stats :

Pinescript Version : 5
Code Length : 44 Lines
Max Unique Input Sources : 10
Max Visible Plots : 10
Total Colors/Opacities : 30

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Tips :

Typically you will want this indicator to be on a layer above (in front of) the source plot layer.
Stay mindful of line thicknesses,
and whether the original source plot is still visible or not.
The final output of the colorized plots are drawn in numerical order,
so, Colorized Source #1 is drawn first, and will appear below Colorized Source #2 on the chart...
and so on, with Colorized Source #10 being drawn last, at the very top.

Final Thoughts :

I like having this indicator.
The idea and script is simple, and the indicator is practical.
It's one method of easily separating some of the aspects of color from your favorite indicators and scripts,
and then customizing those aspects to your liking.
Especially practical for those who do not want to learn about writing their own scripts.

I think that this indicator can be a useful tool in the shed,
used for customizing the visuals of multiple unique sources
that are all on the same price/value scale.
It can help increase chart clarity and/or detail...
whether using it on top of a main chart that is simple,
or on top of a standalone indicator that is crowded with oscillating information.

I hope that you enjoy it and find it useful!

- Please feel free to comment your thoughts, critiques, or suggestions. They are all very helpful!
- Also, please feel free to comment any positive feedback, or awesome screencaps/ideas of the indicator in action!
- Check out my other Pinescript indicators if you like this one... they work well together.
- May your trades be successful!

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// Durbtrade