OPEN-SOURCE SCRIPT
LBR Paintbars [LazyBear]
[Updated: Feb 25, 2015]
Added coloring of LB bars above/below Keltner Channel (as suggested by user 20813 below in the comments).
Updated code: pastebin.com/AhVQ1FBn.
See comments section below for a sample chart. Copy the code from the pastebin above and update your local copy (TV doesn't allow me to update an already published code -- yet!).
Added features:
- Switch ON/OFF KC
- Mark LB bars above/below KC
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The LBR PaintBars indicator changes the colour of the price bars based on the trend direction (derived from price & volatility bands). This is mostly used as a confirmation indicator.
For the Pine coders: I suggest trying stdev() in lieu of atr()...some wild combinations can be derived from this simple idea :)
Indicator supports the following options:
- Switching on/off volatility bands
- Switching on/off LBR colors (lime/maroon).
- Color non-LBR bars (blue).
Thanks mseaworthy for pinging me with this idea.
Complete list of my indicators:
-----------------------------
docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
Added coloring of LB bars above/below Keltner Channel (as suggested by user 20813 below in the comments).
Updated code: pastebin.com/AhVQ1FBn.
See comments section below for a sample chart. Copy the code from the pastebin above and update your local copy (TV doesn't allow me to update an already published code -- yet!).
Added features:
- Switch ON/OFF KC
- Mark LB bars above/below KC
----------------------------------------------------------------------
The LBR PaintBars indicator changes the colour of the price bars based on the trend direction (derived from price & volatility bands). This is mostly used as a confirmation indicator.
For the Pine coders: I suggest trying stdev() in lieu of atr()...some wild combinations can be derived from this simple idea :)
Indicator supports the following options:
- Switching on/off volatility bands
- Switching on/off LBR colors (lime/maroon).
- Color non-LBR bars (blue).
Thanks mseaworthy for pinging me with this idea.
Complete list of my indicators:
-----------------------------
docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.