Quote Tracker Value Chart Paintbar

[cbratton 10]

Anyone,

 

I've been trying to develop a code to have a value chart as a paint bar on Quote Tracker, but have been having trouble with making the code work.

 

Here's what I have so far:

 

if (Bar High-SMA)/0.3>8 set color to Red

 

if (Bar High-SMA)/0.3>=4 AND (Bar High-SMA)/0.3<=8 set color to $B7B7F (Light Red)

 

if (Bar Low-SMA)/0.3<=-4 AND (Bar Low-SMA)/0.3>=-8 set color to $B7FFB7 (Light Green)

 

if (Bar Low-SMA)/0.3<-8 set color to Green

 

 

For example, the top line if (Bar High-SMA)/0.3>8 set color to Red, is the bar high minus the SMA (5 Day (H+L)/2), that part works fine.

 

The part I'm having trouble with is the 0.3 part. It is suppose to be what is called a volatility unit, which is figured by (((Bar High[4]-Bar Low[4])+(Bar High[3]-Bar Low[3])+(Bar High[2]-Bar Low[2])+(Bar High[1]-Bar Low[1])+(Bar High-Bar Low))/5)*0.20. I just put 0.3 in for now because that was some average I figured out.

 

The 0.20 makes it adjust to changing volatility overtime. I try putting it all together and nothing shows up.

 

I want to know when the highs or lows get to the overbought or oversold area, and shade them the appropriate color.

 

This is what it is suppose to be for signif. overbought:

 

(Bar High-SMA)/(((Bar High[4]-Bar Low[4])+(Bar High[3]-Bar Low[3])+(Bar High[2]-Bar Low[2])+(Bar High[1]-Bar Low[1])+(Bar High-Bar Low))/5)*0.20

 

> 8

 

It needs to be greater than +8.

 

Does anyone see what I'm doing wrong, or is it even possible to figure it out.

 

Any help would be appreciated.

[OAC 10]

  cbratton said:

 

if (Bar High-SMA)/0.3>8 set color to Red

 

 

It has been a while that I have done paintbar coding in QT.

When in doubt, always put in the parenthesis:

 

if ((Bar High-SMA)/0.3)>8 set color to Red

 

 

Also is there an input value for SMA ?

Edited January 6, 2009 by OAC

[cbratton 10]

This is what I have for the significantly Overbought:

 

if (Bar High-SMA(5)) / (((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2 >8 set color to Red

 

It still shows nothing on the chart.

 

It might be to complex or the expression is incorrect, anyone else have any thoughts?

[OAC 10]

I got it working. Thanks.

I am going to compare to the NinjaTrader version and see how it goes.

[cbratton 10]

How did you get it working? Did you change it? Please let me know.

[OAC 10]

  cbratton said:

How did you get it working? Did you change it? Please let me know.

 

Do you need eye glasses ?

When in doubt, always put in the parenthesis:

[cbratton 10]

Okay, I got it now. I tried putting parenthesis in, but it still didn't work. What I did was simplify the calculations, so now it works perfect. I don't know if you divided by 0.3 or the volitility unit formula.

 

Thanks for your help.

[OAC 10]

if (Bar High-SMA(5)) /((((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2) >8 set color to Red

 

 

Happy New Year

[Eric Johnson 10]

A great thanks to both of you. Here is what I came up with from your work, so people can just cut and paste it into the complex expression editor. Let me know it there is anything that needs adjusting. I used the 5 SMA and .2 multiplyer.

 

if (Bar High-SMA(5)) /((((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2) >8 set color to Red

 

if (Bar High-SMA(5)) /((((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2) >4 AND (Bar High-SMA(5)) /((((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2)<8 set color to $8080FF

 

 

if (Bar High-SMA(5)) /((((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2) <-4 AND (Bar High-SMA(5)) /((((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2)>-8 set color to $B7FFB7

 

 

if (Bar High-SMA(5)) /((((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2) <-8 set color to Green

 

 

For rough similiar lower indicators I use the Bressert DSS 5, 2 and 5,4 and RSI 3,3 all paintbarred.

[Eric Johnson 10]

I played around with the paintbar a bit and liked a 0.25 multiplyer. The paintbar is less useful than a line indicator for me.The medium range bars turned on sometimes during a minor cycle reversal point.

I will share some of the combos I use it with. They are better on some charts than others. Mostly they are like scalper alerts for exit points, but can be used like the Value indicator to locate building momentum or extreme conditions.

The afore mentioned Bressert DSS 5,2 and 5,4 are painted for extreme at 17 and 84 levels. I put white boxes near a candle that price closes above or below the keltner band 10,2. A more sensitive indicator that can be useful for some charts is the price closing outside a SMA 3,2 envelope. I put yellow/pink directional arrows above or below the candles. Let me know if anyone wants copy and paste code to try these out.