code help, candle colors RSI

[Nari2007]

hello fellow traders, seeking help with basic coding,,,

i am trying to get the candles to change red(BEARISH) when rsi is below 50line bullish(green) when above 50 line candles change to (cyan)when overbought70
change to yellow when oversold30

i have started to code below which is partially successful however it doesnt seem to change colors when above70 or below30, it is only changing green/red when above or below the 50 line,,

please see code below

declare upper;

input length = 14;
input over_Bought = 70;
input over_Sold = 30;
input price = close;
input averageType = AverageType.WILDERS;
input showBreakoutSignals = no;
input ColoredCandlesOn = yes;

def NetChgAvg = MovingAverage(averageType, price - price[1], length);
def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;

def RSI = 50 * (ChgRatio + 1);
def OverSold = 70;
def OverBought = 30;

def UP = RSI > 50;
def DN = RSI < 50;
def UpCalc = UP - DN;

AssignPriceColor (if UP then Color.GREEN else if DN then Color.RED else if OverBought then Color.CYAN else if OverSold then Color.YELLOW
else Color.CURRENT
);

 

[Svanoy]

@Nari2007
You never defined what OverSold and OverBought were in relation to RSI.
The AssignPriceColor conditions are in the wrong order, in the logic of the if then else statement RSI will always meet criteria of UP or DN and will never check OverBought or OverSold. ( ie: Overbought is also UP and OverSold is also DN, but UP is not also OverBought and DN is not also OverSold).

declare upper;

input length = 14;
input over_Bought = 70;
input over_Sold = 30;
input price = close;
input averageType = AverageType.WILDERS;
input showBreakoutSignals = no;
input ColoredCandlesOn = yes;

def NetChgAvg = MovingAverage(averageType, price - price[1], length);
def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;

def RSI = 50 * (ChgRatio + 1);

def OverSold = RSI <= 30;
def OverBought = RSI >= 70;

def UP = RSI > 50;
def DN = RSI < 50;
def UpCalc = UP - DN;

AssignPriceColor (if OverBought then Color.CYAN else if OverSold then Color.YELLOW else if UP then Color.GREEN else if DN then Color.RED else Color.CURRENT);

 

[Nari2007]

@Nari2007
You never defined what OverSold and OverBought were in relation to RSI.
The AssignPriceColor conditions are in the wrong order, in the logic of the if then else statement RSI will always meet criteria of UP or DN and will never check OverBought or OverSold. ( ie: Overbought is also UP and OverSold is also DN, but UP is not also OverBought and DN is not also OverSold).

declare upper;

input length = 14;
input over_Bought = 70;
input over_Sold = 30;
input price = close;
input averageType = AverageType.WILDERS;
input showBreakoutSignals = no;
input ColoredCandlesOn = yes;

def NetChgAvg = MovingAverage(averageType, price - price[1], length);
def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;

def RSI = 50 * (ChgRatio + 1);

def OverSold = RSI <= 30;
def OverBought = RSI >= 70;

def UP = RSI > 50;
def DN = RSI < 50;
def UpCalc = UP - DN;

AssignPriceColor (if OverBought then Color.CYAN else if OverSold then Color.YELLOW else if UP then Color.GREEN else if DN then Color.RED else Color.CURRENT);

i am impressed... cant thank you enough, this is something i was really having a hard time with...

 

[Nari2007]

@Nari2007
You never defined what OverSold and OverBought were in relation to RSI.
The AssignPriceColor conditions are in the wrong order, in the logic of the if then else statement RSI will always meet criteria of UP or DN and will never check OverBought or OverSold. ( ie: Overbought is also UP and OverSold is also DN, but UP is not also OverBought and DN is not also OverSold).

declare upper;

input length = 14;
input over_Bought = 70;
input over_Sold = 30;
input price = close;
input averageType = AverageType.WILDERS;
input showBreakoutSignals = no;
input ColoredCandlesOn = yes;

def NetChgAvg = MovingAverage(averageType, price - price[1], length);
def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;

def RSI = 50 * (ChgRatio + 1);

def OverSold = RSI <= 30;
def OverBought = RSI >= 70;

def UP = RSI > 50;
def DN = RSI < 50;
def UpCalc = UP - DN;

AssignPriceColor (if OverBought then Color.CYAN else if OverSold then Color.YELLOW else if UP then Color.GREEN else if DN then Color.RED else Color.CURRENT);

Good Morning, having same issue with Addlabel Feature,,

please see code below, any assistance would be greatly appreciated

declare upper;

input length = 14;
input over_Bought = 70;
input over_Sold = 30;
input price = close;
input averageType = AverageType.WILDERS;
input showBreakoutSignals = no;
input ColoredCandlesOn = yes;

def NetChgAvg = MovingAverage(averageType, price - price[1], length);
def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;

def RSI = 50 * (ChgRatio + 1);

def OverSold = RSI <= 30;
def OverBought = RSI >= 70;

def UP = RSI > 50;
def DN = RSI < 50;
def UpCalc = UP - DN;

AssignPriceColor (if OverBought then Color.CYAN else if OverSold then Color.YELLOW else if UP then Color.GREEN else if DN then Color.RED else Color.CURRENT);

AddLabel (if OverBought then Color.CYAN else if OverSold then Color.YELLOW else if UP then Color.GREEN else if DN then Color.RED else Color.CURRENT);

 

[Svanoy]

@Nari2007
AddLabel needs 3 parameters.
Try this, I'm currently on my phone, so I cannot test.

AddLabel (yes, RSI, if OverBought then Color.CYAN else if OverSold then Color.YELLOW else if UP then Color.GREEN else if DN then Color.RED else Color.CURRENT);