Chart Shading

Here’s another self-indulgent feature request.

I have several scripts that run in the background and do all the calculations to feed me visual information about price behaviour so that I can make quick decisions about price behaviour bias.
I have one that puts up and down arrows at the top of the screen. I have another that gives the bars one of 5 possible colours to identify trend or warn of a potential trend change or sideways motion. I have another that puts dots above and below bars to identify potential trend commencements, and yet another that puts squares above and below the price bars as trailing exit stops.
But I also have another script that sums up my overall conclusion on trend bias. I would like to actually shade the price chart red or green or neutral based on the conclusion reached by that script so that I can interpret the other signals in the context of this bias.
If I can do all of this, I can make very quick decisions when battling those horrible intraday lunatics.
Is there a way to shade the price chart accordingly - I have not found it. If not, would you consider looking into that at some suitable time?

cheers
Michael

Hi Michael,

Do you mean custom colours on the actual bars? (https://help.optuma.com/kb/faq.php?id=648) or are you looking for shaded zones in the background?

If it’s the background, then I’m not sure that we can. The closest would be to overlay a “Show View” tool which you could drag over the top of the bar chart. You would need to set a script to return you a true false result. That would make it coloured or not coloured. If you had two of them, you could change colours. You could also play with it’s custom colours to see if you can get it to swap colours. I can’t think of exactly how that would work but you would have to change the scaling of the show view from automatic to manual. (Remember to keep that layer unlinked from the price chart)

Another thought is the Analysis Clusters tool. (https://help.optuma.com/kb/faq.php?id=444) It is particularly useful in a “weight of the evidence” process - which this sounds a bit like like from your description. You can add multiple scripts at the bottom, see when they are true or false and also give each of them a weight into the final combined line.

Hope that helps

Mathew

Thanks Mathew.

I already have a script that allocates one of 5 possible colours to the bars.

Yes, I am talking about shading the background. That would be ideal. I am ignorant of how difficult that might be. I have done something like it before by using really fat vertical lines that were placed by a Showbar and then I adjusted their visibility. Because I could not get them to form a continuous background, the zebra striping effect was too distracting. Would it be difficult to programme a Showbar of vertical lines that exactly filled the zone allocated to one bar such that they just touched thereby eliminating the white space and forming a continuous zone. I’m speaking simplistically as I have no idea what is involved in doing that.

What I have done in the past is shown in the attached image. you can see how the white space causes striping which is quite hard on the eye. I’m just being finicky but I wonder whether there is a small adjustment that could be made to get rid of that white space.

I will look into the ideas you mentioned.

cheers
Michael

Hi Micahel,

That would be a really tricky change to make because we risk overlaps creating dark lines. There can be small differences in the spaces due to rounding etc. If you look at your image you will see some white lines are thinner than the rest.

2020-06-20_11-05-13

This will create a dark zone if we just widen the show bar.

Better to use a show view with the same script and drag it into the chart view. It will be one continuous zone then.

All the best

Mathew

 

Oh, duh!!

How did I not find that Showview solution before? That is EXACTLY what I am looking for.

Perfect.

Isn’t Optuma wonderful?

Many thanks.

Michael

Nice! Also remember the Switch(on, off) function. I use that when I want to activate a zone above a threshold and leave it on until a different threshold is broken.

https://help.optuma.com/kb/faq.php?id=724

Again - that is so cool.

I feel like a kid in a lolly shop.

My scripts are going to get more interesting.

Thanks for the follow up.

cheers