Rank: Member
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Can anybody tell me why the colour of the candlestick in the attachment (marked with a line to the 'data window') is red (although not a solid red)? The opening price is 1.8222, and the closing price is 1.8227.
BTW, all the candles that are red but not solid show this characteristic (they are not solid (like the green candles), their opening price < closing price, but they are red. Is there a special meaning to these candles that they are drawn that way?
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 3/7/2005(UTC) Posts: 1,346
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hey andre.... the colors of candles can be confusing at times... the red hollow body is for a day which is overall a down day but the close was higher than the open, just like you said... so its a way of the chart visually to say it was weak but recovered at the close.... slight hint of reversal ......
the green solid body has a similar line of thinking...... h
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 10/29/2004(UTC) Posts: 1,394 Location: Glastonbury, CT
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From the looks of your chart, it seems that you have an expert attached
and the highlight that shows that color is showing a positive +1 signal for that bar!
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 10/29/2004(UTC) Posts: 1,394 Location: Glastonbury, CT
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Candles will have different traits when an expert is attached!
Solid candles will show negative closes
Hollow candles will show Positive closes
the colors will come from the highlights of an expert
depending on the condition that is specified, it will then color the bar!
If you look in the metastock formula section, under experts, check out the conditions for highlights!
I use the highlights to specify either long position, Short position, or Neutral Position
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 3/7/2005(UTC) Posts: 1,346
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hey andre.... was reading henry's post and noticed an error in mine... 'green hollow body' should read 'green soild body'.....
henry knows more about experts than me, but if by chance you do not have one attached the colors and hollow body are just industry standard practices....
its just a visual to see open/close relationship you mentioned..... ensign software does have some additional labelings, zebras, rockets, corners and such but by and large all will follow the common forms in your chart......h
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Rank: Member
Groups: Registered, Registered Users Joined: 6/25/2005(UTC) Posts: 27
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Hmmm.
To Hayseed: The graph is a 15 minute graph, so EOD and daily etc does not apply. These non-standard colours appear all over the day. This morning I have a solid green at 5:37GMT (which should have been red) on a 1 minute graph.
To Henry: I had an expert attached, but one that specifies nothing under Highlights - so that should not have changed the colours. I also detached the Expert, and the graph did not change one bit. Bottom line - even without an Expert, the colours are different to industry standard.
:? My confusion remains - the industry standard is to have a green candle if C>O, and red if C<O. Any other specialties/oddities are depicted using other methods, but not changing the base up/down colours.
Can you guys think of anything else I may have set somewhere that makes this look odd? It is just difficult to read a chart that shows down-colours when it should be showing up-colours, and vice versa. As I said, I have detached any Experts, and I cannot think of anywhere else where I would have changed something to affect this.
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Rank: Member
Groups: Registered, Registered Users Joined: 6/25/2005(UTC) Posts: 27
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After I sent me previous reply, I tried a workaround, namely using the Highlight of an Expert - thanks Henry for tipping me off to that. It works.
If you could, I would still like to receive your advice though to sort out the base issue why the up/down colours do not apply in all instances (without an Expert attached).
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Rank: Member
Groups: Registered, Registered Users Joined: 6/25/2005(UTC) Posts: 27
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hayseed wrote:hey andre.... the colors of candles can be confusing at times... the red hollow body is for a day which is overall a down day but the close was higher than the open, just like you said... so its a way of the chart visually to say it was weak but recovered at the close.... slight hint of reversal ......
the green solid body has a similar line of thinking...... h
I think I now see what you were trying to say about 'slight hint of reversal'... I applied the 'logic' to the 1Min graph, and you may be right (difficult for me to say as I do not know the underyling rules that would govern a 'slight hint of reversal'. Nevertheless, I think the colours are wrong. If a down, then it should be a down colour - by all means use solid vs non-solid to indicate a 'slight hint of reversal' - but the colours? Anyway, thanks Hayseed, your info does shed light on the matter.
Just a pity that of I use Highlights in Experts (my workaround), it overrides the solid (no reversal)/non-solid (slight hint of reversal) indicator.
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 3/7/2005(UTC) Posts: 1,346
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hey andre.... i was using the phrase ' over all down day' loosely.... period or bar can be also applied.... minutes , hours, days or weeks it doesn't make a difference.... its standard industry color candlestick guidelines.... my chart looks exactly the same as yours and mine have no experts attached....
it can be confusing till you get handy at veiwing it.... i think at that point you'll see that its just a bar that opened lower than it closed and was lower than the previous bar's close.... it recoverd some....
my candlestick settings/colors are made using the right clicking on the price bars , then using properties.... and of course using bars instead of candles removes the hollow body issue.....
you can check your chart against some of the better free charts, such as stockcharts.co, you'll see they will be the same.... that hollow red body is saying something important.....
i have some pretty good articles on candlesticks, you probably have also, holler back if your interested....h
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 3/7/2005(UTC) Posts: 1,346
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its conceivable that in very short time frames obscure events like non-synchronous trading or bid/ask bounces might give false candles.... here are the diamonds as compared with stockcharts.....h
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 9/8/2004(UTC) Posts: 2,266
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Let me post it in english for everyone ....
Candlesticks when created were based on the relationship of the same bar open and close value.
When the close was greater than the open the bar was solid when the close was less than the open the bar was hollow ....
Colors were never important ....
Now the colors you are seeing for each bar is based on the color properties of the chart which allows you to set an up color and a down color ( again Solid vs Hollow has nothing to do with colors ... )
If you set these up and down colors the program will compare today's close to yesterday's close. If today's close is greater than yesterday's close the up color else down color.
Now you will tell " but all the other software use different colors, blah blah .... " well that's the way they do it.
Patrick :mrgreen:
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 3/7/2005(UTC) Posts: 1,346
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Bonjour Patrick.... Quelle langue étaient nous employant..... quand la télévision a été inventée la couleur n'a pas importé non plus.... Les mêmes ont pu être dits pour des machines de copie, le fax, le modèle t de gué et ainsi de suite...... la couleur ajoute souvent un nouvel excédent de dimension précédemment regardé ou impossible à obtenir....... Un candlestick creux rouge de corps porte la même définition avec la plupart de prime dressant une carte des programmes, librement ou autrement..... metastock, comme vous le savez, des chutes dans ce groupe.....h :wink:
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 9/8/2004(UTC) Posts: 2,266
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:ptdr: I got your message ... Though the translation was not very good :roll:
( babblefish ? )
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 9/10/2004(UTC) Posts: 863 Location: Salt Lake City, UT
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Oooooh - you are going to feel bad if he just wrote that himself.... oz_pdt_02q
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Rank: Advanced Member
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oz_pdt_07 I just put my foot in my mouth :oops:
hayseed that was not your translation right ](*,)
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 3/7/2005(UTC) Posts: 1,346
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hehehehe.... yall sayin my spanish wasn't good or somethin' :roll: ......maybe not, but my smarteleck more than makes up for it.......no language barrier there.......h
just in case google inserted any [color=red:22ca231f70]colorful[/color] words
===============================================
Hello Patrick…. What language were we using….. when television was invented color did not matter either…. The same could be said for copy machines, fax's, the ford model t and so on..…. color often adds a new dimension previously over looked or unobtainable……. A red hollow body candlestick carries the same definition with most premium charting programs, free or otherwise ….. metastock, as you know, falls in that group…..h
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 9/10/2004(UTC) Posts: 863 Location: Salt Lake City, UT
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See... that is what I thought it said... :smt116
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Rank: Member
Groups: Registered, Registered Users Joined: 6/25/2005(UTC) Posts: 27
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hayseed wrote:
you can check your chart against some of the better free charts, such as stockcharts.co, you'll see they will be the same.... that hollow red body is saying something important.....
h
Hmmm, I see you saying that charts such as Netdania and Intellicharts are non-standard, ie a solid is not always a down-, and a hollow is not always an up-movement. Will have to check that out.
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Rank: Advanced Member
Groups: Registered, Registered Users Joined: 3/19/2005(UTC) Posts: 2,995
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Babblefish n'est-il pas grand ? Merci pour la leçon sur les bougeoirs... vraiment ! Je suis calme effrayé de « em bien que. Il semble trop compliqué. Je suis juste nigaud !
Yea, Patrick has a point- something gets lost in the translation :D
Quote:Isn't Babblefish great? Thanks for the lesson on candlesticks... really! I'm still scared of 'em though. It seems too complicated. I'm just a simpleton!
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 9/8/2004(UTC) Posts: 2,266
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Quote:Isn't Babblefish great? Thanks for the lesson on candlesticks... really! I'm still scared of 'em though. It seems too complicated. I'm just a simpleton!
Patrick's version :
Bablefish est genial, n'est ce pas? Merci pour la lesson sur les bougies ... Sincerement! Je suis toujours effraye par elles. Cela semble si complique. Je suis juste un simplet!
BabbleFish:
Babblefish n'est-il pas grand ? Merci pour la leçon sur les bougeoirs... vraiment ! Je suis calme effrayé de « em bien que. Il semble trop compliqué. Je suis juste nigaud !
What do you expect of a fish though :D
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