Trend Coloring Price Bars

[Haidason7]

I am looking for a script to assign color based on trend control. I've attached an image with colored arrows for example.

1. Uptrend = assume up-bars are making new highs, the next bar is a down-bar, but doesn't close lower than the previous green bar open. I need that bar to stay "green". Same for subsequent down-bars that don't close lower than the last up-bar. A down-bar that closes lower than the last up-bar open, should continue to color as down.

2. Downtrend = just the opposite. Down-bars painting red, then an up-bar, but doesn't close higher than the open of the down-bar; it needs to paint as as a down-bar. Up-bar only paints green, if it closes higher than close of the last down-bar.

 

[ApeX Predator]

@Haidason7 Have your tried Heikin Ashi candle type?

-S

 

[Haidason7]

Thank you for the response but HA wont work. I would like to maintain the standard candle price action.

 

[ApeX Predator]

Thank you for the response but HA wont work. I would like to maintain the standard candle price action.

Fine. This should do then.

def c = close;
def h = high;
def o = open;

AssignPriceColor(if h > h[1] and c > o[1] then Color.Green else Color.CURRENT);

PS: This based on your condition definition, nothing done to the downside trend in the above code, but your get the idea your can add an else if statement for the downside trend.

 

[Svanoy]

Another option, don't know if it is any better or not.
Probably could still use some tweaking.

def UpBar = close>open;
def DnBar = close<open;
def Doji = open==close;
def UpTrendBottom = if UpBar then open else UpTrendBottom[1];
def DnTrendTop = if DnBar then open else DnTrendTop[1];

def GreenBar = (UpBar and close>DnTrendTop) or (DnBar and GreenBar[1] and close>=UpTrendBottom);
def RedBar = (DnBar and close<UpTrendBottom) or (UpBar and RedBar[1] and close<=DnTrendTop);
def GreenDoji = Doji and GreenBar[1];
def RedDoji = Doji and RedBar[1];

AssignPriceColor(if GreenDoji or GreenBar or(GreenBar[1] and close>=close[1]) then Color.UpTick else Color.Current);
AssignPriceColor(if RedDoji or RedBar or (RedBar[1] and close<=close[1]) then Color.DownTick else Color.Current);

 

[Haidason7]

Svanoy, this looks really good. I will use it today, and let you know if i find any false scenarios.

Thank you.

 

[Haidason7]

Svanoy, i found this green candle today on the MES. I've seen the scenario a few other times, but this has been the best example. I thought I would ask if this can be improved. This was on an 8m chart.

 

[ApeX Predator]

Svanoy, i found this green candle today on the MES. I've seen the scenario a few other times, but this has been the best example. I thought I would ask if this can be improved. This was on an 8m chart.

Try the simple 4 liner code, it works and is designed to what you need. you may want to through the reverse condition too with color Red, but it works.

 

[Svanoy]

@Haidason7

def UpBar = close>open;
def DnBar = close<open;
def InBar = high<=high[1] and low>=low[1];
def Doji = open==close;
def UpTrendBottom = if UpBar then open else UpTrendBottom[1];
def DnTrendTop = if DnBar then open else DnTrendTop[1];

def GreenBar = (UpBar and close>=DnTrendTop) 
                or (DnBar and GreenBar[1] and close>=UpTrendBottom) 
                or (UpBar and close<=UpTrendBottom[1]) or (InBar and GreenBar[1]) 
                or (Doji and GreenBar[1]);
def RedBar = (DnBar and close<=UpTrendBottom) 
                or (UpBar and RedBar[1] and close<=DnTrendTop) 
                or (DnBar and close<=DnTrendTop[1]) or (InBar and RedBar[1]) 
                or (Doji and RedBar[1]);

AssignPriceColor(if GreenBar then Color.UpTick else Color.Current);
AssignPriceColor(if RedBar then Color.DownTick else Color.Current);