Coding A Custom Candle In ThinkOrSwim

[LouDiamond]

I was interested in creating a candle that paints red or green based on the placement of the high and low of the candle (ignoring the open / close.) So if the high appears before the low, it paints the candle red and if the low appears before the high, it paints green.

You can see from this screen shot that the 4hour chart painted a green candle (left) but if you look at the 1min chart (right) the high of the candle appeared first in sequence, followed by the low of the candle. In this scenario i would prefer if the 4hour candle painted red based on my criterias. please let me know if this is at all possible and if anyone can help code it, thanks

 

[halcyonguy]

I was interested in creating a candle that paints red or green based on the placement of the high and low of the candle (ignoring the open / close.) So if the high appears before the low, it paints the candle red and if the low appears before the high, it paints green.

You can see from this screen shot that the 4hour chart painted a green candle (left) but if you look at the 1min chart (right) the high of the candle appeared first in sequence, followed by the low of the candle. In this scenario i would prefer if the 4hour candle painted red based on my criterias. please let me know if this is at all possible and if anyone can help code it, thanks

no, data during a candle can't be saved and used, only the values when it closes. during the active candle, formulas react to the instantaneous values, but can't retain any values at specific times during a candle.

no. a chart study can't read data from a time period shorter than what the chart is set up for. a 4hour chart can't read data from 1 minute candles, they don't exist.

having a valley occur after a peak is common. what is interesting is in the 1 minute, after the first peak is a 2nd peak, a lower high.

you could look at smaller time candles and use an overlay study to color a rectangle over many candles, representing the longer time candles. that shading color could be altered.

https://usethinkscript.com/threads/multi-timeframe-candles-overlay-for-thinkorswim.1425/
my version is at post74
https://usethinkscript.com/threads/...verlay-for-thinkorswim.1425/page-4#post-71874


this function is used to change the color of candles.
https://tlc.thinkorswim.com/center/reference/thinkScript/Functions/Look---Feel/AssignPriceColor

 

[LouDiamond]

what is interesting is in the 1 minute, after the first peak is a 2nd peak, a lower high.

Yea i believe that 2nd peak was part of the green 4hour candle as well. When i drew my yellow box on the 1min, i kind of rushed it. the goal was just to convey the high came before the low and i didn't accurately represent all the data covered by the 4hour candle. That 2nd peak is also what caused the green candle on the 4hour, since it gave us a close above the open, which is what i want to ignore in the candle coloring condition.

Thank you very much for your detailed answer, i didn't have much hope for it being possible, but figured i'd ask anyway. I will try to implement your suggested work around, appreciate your time.