How to set Multiple Colors in each candle / bar

AFL Programming
1

Hi, I am a new amibroker user. I am trying to set multiple colors for one candle / bar. This is like a value chart concept in the dynamic trading indicators - winning with value charts and price action profile book. After normalize the candelstick or the bar chart to a fix range, I want to set the color of each candle to be as follow:

  1. Above 8 - Red (Extreme Overbought)
  2. Between 4-8 - Blue (Overbought)
  3. Between -4 to 4 - Green (Fair)
  4. Between -4 to -8 - Blue (Oversold)
  5. Below -8 - Red (Extreme Oversold)

Can Amibroker handle such task ?

I really appreciate everybody's comment. Looking forward to it.

Regards,
Yudho

2

It is very well explained in Tutorial section of the Users' Guide:
http://www.amibroker.com/guide/h_indbuilder2.html

Entire tutorial is must read for newbies http://www.amibroker.com/guide/tutorial.html

1 Like
3

@Yudho you should include your code with your question if you need help modifying it. And of course the bar colors may be changed.

If you are referring to "Value Charts" from the book Dynamic Trading Indicators: Winning with Value Charts and Price Action Profile, by Helwig and Stendhal then those have been coded into afl by various users since that books publication many years ago. Check the User Library for one such effort.

You will need to modify that if you want to change the bar colors.

If you are interested in this indicator you may want to follow up with variations made a few years ago in a series of articles in Technical Analysis of Stocks and Commodities, The Chartmill Value Indicator. Other bloggers went on to make even more efforts at modification after those articles.

Good luck and let us know what you find, and welcome to AmiBroker.

1 Like
4

Thanks Tomasz. I will review the tutorial section.

5

I will do the web search as per your direction. Thanks for dropping some clues to find.
So far, I really enjoy Amibroker, as it gives me more spare for creativity.