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I would like my candlesticks (MS 9.0 EOD) to do the following:
- If open > close, color is red, if open<close, color is green and both always be solid bodies.
How do I do this?
I saw a post about this in 2005, but reading it doesn't resolve the issue for me.
Thanks a lot!
Glen Orcutt
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Rank: Newbie
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Just to explain this a little better: Metastock apparently has a "new and improved" candlestick where in some cases the close can be greater than the open, but it is the color of a down candle (black or red) and vice-versa. I'm a simple kind of guy and like simple candlesticks where down is down and up is up. I don't want to have to look at the close and the open values to see which is greater to figure out if it was an up or a down day. That takes all the information out of the candlesticks!!!!
Thanks for any responses!
Glen
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Rank: Advanced Member
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Unless you want to go round and fiddle with all your data, to take out the opening price (NOT recommended) then to the best of my knowledge it is not possible to fill in the candles...
BUT...
it is possible to solve the UP/DOWN day colour issue by using an Expert Advisor.
Create a new Expert
Create new highlights:
{UP Day}
{Colour me Green}
C>O;
{DOWN Day}
{Colour me Red}
C<O;
To get a little more Gucci, to account for the days when O=C, assign the colour of the candle that was last before this bar, try these instead:
{UP Day}
{Colour me Green}
direction:=C-O;
direction:=ValueWhen(1,direction<>0,direction)>0;
{DOWN Day}
{Colour me Red}
direction:=C-O;
direction:=ValueWhen(1,direction<>0,direction)<0;
Train your eyes to see the colour of the candles, not the solids/hollow parts....
Hope this helps.
wabbit [:D]
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Rank: Newbie
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Thank you Wabbit for the formulas to put into an expert. Unfortunately, I've never made an expert before and I have spent a couple hours trying to figure out where to put your formulas to make an expert work. Could you give me explicit directions?
Thanks again,
Glen
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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Sarcastically, start by locating your copy of the MS Users Manual. Read the section on creating experts then do so.... other than that.... MS Help wrote:To create a new expert, choose New from the Expert Advisor dialog. The Expert Editor dialog appears. You use this dialog to create the various components of an expert. Again it is important to remember that an expert need not contain every component. In fact most experts you create will probably only contain one or two components. The only components required are the Name and one of the other five components (i.e., Trend, Commentary, Highlights, Symbols, or Alerts).
This dialog is different from most in that you can resize it. Position the mouse over the border of the dialog and click and drag the mouse until the dialog is the desired size. This is very convenient when writing commentaries.
Name. Enter the name of the expert in the Name box. Type any unique information about the expert in the Notes box.
You may want to use a consistent naming convention that describes the components used in the expert. For example, if the only component of the expert is a commentary, you may want to name it "MyExpert (commentary)". If the only component was an alert, you may name it "MyExpert (alert). The more descriptive the name, the easier it will be for you to remember what the expert does.
Highlights. The Highlight page is used to create and edit highlights. A highlight colors a chart's price bars to indicate specific conditions. An unlimited number of highlights can be defined for an expert. See Creating and Editing Highlights for more information on creating highlights. Create two new highlights, one with the code for the up candle and the other with the done candle code. Make the colours whatever you like, then apply the Expert Advisor to your default template. I am sure there is a video available here somewhere, I just haven't seen it for a while. wabbit [:D] SkyPE me if you need more specific help.
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Rank: Advanced Member
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Joined: 9/13/2004(UTC)
Posts: 673
Location: Salt Lake City, UT
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Just for the record, MetaStock uses traditional candlesticks, there is nothing new and improved about them. There are no colors with traditional candlesticks. The candles are hollow when the close > open and solid when the close < open. Colors were never a part of this simple structure. The Up/Down colors you are referring to inside of Format>Prices compares the current day's close to the previous day's close. Candlesticks have nothing to do with the previous day's close and these colors should not be used with candlesticks in order to avoid any confusion.
As was mentioned, you can use Expert Advisor's Highlights tab to highlight the bars a certain color when a condition is true. Make a New Highlight in the Highlight tab, formula is C>O, color Green. Click Ok. Make another New Highlight, formula is C<O, color Red.
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Rank: Advanced Member
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Posts: 1,346
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hey gleno..... gleno from clearstation perhaps, if so hey gleno twice....
looking at your candlestick goal, even the use of an expert will not achieve it completeley.... part of the trouble lies in the conflicting defitinition of an up day and part lies in your need for 'and both always be solid bodies'.....
stockcharts.com and many of the other better free sites struggle with that same issue.... i've tried to find a solution but to no avail.... like pyradius said, candlesticks aren't meant to be used in the manner we are trying and equis has them coded in the traditional definition....
of course equis could code another set of instructions to be included in the 'price data' edit pane but that might cause even more confusion..... from a post long ago....h
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Rank: Newbie
Groups: Registered, Registered Users
Joined: 8/24/2006(UTC)
Posts: 4
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Thank you all for your help. Making the simple expert worked for me. I'm new to Metastock (I've used eSignal for several years), so it's been an adjustment. But I really like MS experts and explorer.
Thanks again,
Glen Orcutt
P.S. I'm not from clearstation.
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