Trendy Bar Trend Color

Trendy Bar Trend Color

Inspired by trend candlestick charts on other trading platforms. Changes bar colors to stay in trend much like Heikin Ashi candles without the ATR price distortion. This is done by comparing the HL2 and/or Open-Close values of current candlestick to the prior candlestick.

Notes de version

Cosmetic only, experimental, not intended for use with trading

Update to script:

updated the Heikin Ashi calculation for trend coloration
Added ability to plot different bar types: High-Low bars without wicks or open & close data, or plot Open-Close bars without wicks
Option to only color the existing candlesticks instead of plotting different candlestick types
Experimenting with simple ability to highlight possible tops & bottoms of a trend; though it chases trends in live trading. Be careful
Experimenting with ability to grey-out consolidation ranges

If you wish to use the different candlestick types, it's advised to hide the existing candlesticks via chart options

Chart with High-Low bars and tops & bottoms highlighted:

Chart with High-Low bars, tops & bottoms highlighted, and consolidations painted grey:

Notes de version

Edit 3:
Corrected Heikin Ashi calculation (again)

Script open-source

Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.

fauxlife

Clause de non-responsabilité

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Script open-source

fauxlife