EasyLanguage Price Action PaintBar Study

April 17th, 2010, 07:02 PM

I thought I would start working on a basic Price Action indicator for MultiCharts.

Here is a quick version I have so far. It colors HH + HL, LH + LL, and Bearish/Bullish Engulfing.

Please make enhancements...

Code

                            
// Big Mike Trading https://nexusfi.com

// 17 April 2010



vars:

    color(GetPlotColor(5));

    

color = GetPlotColor(5);



if H > H[1] and L > L[1] then color = GetPlotColor(6);

if H < H[1] and L < L[1] then color = GetPlotColor(7);

if H <= H[1] and L >= L[1] then color = GetPlotColor(8);



if H > H[1] and L < L[1] and C > C[1] then color = GetPlotColor(9);

if H > H[1] and L < L[1] and C < C[1] then color = GetPlotColor(10);



PlotPaintBar(H, L, O, C, "PriceAction", color);







Plot5(C, "Neutral");

Plot6(C, "HH+HL");

Plot7(C, "LH+LL");

Plot8(C, "IB");

Plot9(C, "BullEng");

Plot10(C, "BearEng");



NoPlot(5);

NoPlot(6);

NoPlot(7);

NoPlot(8);

NoPlot(9);

NoPlot(10);

[img]https://nexusfi.com/v/9t39k3.png[/img]

Mike

April 17th, 2010, 08:11 PM

One little tweak: put the plots in a block that does not execute, then you don't need the noplots, and none of the statements ever execute, but you still get the plots in the configuration. Using CurrentBar = 0 is sneaky, but works.

Code

if CurrentBar = 0 then begin
    // only here to set colors in the config
    Plot5(C, "Neutral"); 
    Plot6(C, "HH+HL"); 
    Plot7(C, "LH+LL"); 
    Plot8(C, "IB"); 
    Plot9(C, "BullEng"); 
    Plot10(C, "BearEng"); 
end;

April 17th, 2010, 08:11 PM

aslan

One little tweak: put the plots in a block that does not execute, then you don't need the noplots, and none of the statements ever execute, but you still get the plots in the configuration. Using CurrentBar = 0 is sneaky, but works.

Code

if CurrentBar = 0 then begin
    // only here to set colors in the config
    Plot5(C, "Neutral"); 
    Plot6(C, "HH+HL"); 
    Plot7(C, "LH+LL"); 
    Plot8(C, "IB"); 
    Plot9(C, "BullEng"); 
    Plot10(C, "BearEng"); 
end;

Good idea. Can also prefix it with once I believe.

Thx,
Mike

April 17th, 2010, 08:19 PM

Yes, once would work, except then you need the noplots since the plots will execute once.

April 18th, 2010, 12:28 AM

@Mike,

Good idea for an indicator.

Not sure what level of detail you're aiming for, but here are a few ideas....

Code

if O = C then color = GetPlotColor(11);
if H[3] < H[2] and L[3] < L[2] and H[1] < H[2] and L[1] < L[2] and C < C[1] then color = GetPlotColor(12);
if H[3] > H[2] and L[3] > L[2] and H[1] > H[2] and L[1] > L[2] and C > C[1] then color = GetPlotColor(13);
if H[1] <= H[2] and L[1] >= L[2] and C > H[2] then color = GetPlotColor(14);
if H[1] <= H[2] and L[1] >= L[2] and C < L[2] then color = GetPlotColor(15);
 
Plot11(C, "Doji");
Plot12(C, "RevShort");
Plot13(C, "RevLong");
Plot14(C, "IB-BreakLong");
Plot15(C, "IB-BreakShort");

Plots 12 thru 15 assume trade-plans that require the signal bar to close before becoming a valid trigger (painted).

These do not allow for trade-plans that only require the trigger be broken at anytime during the formation of the current bar. Will the code allow the painting of the current bar, based on breaking a trigger point, prior to the bar closing?

Something similar could be done for the break of the low of a Bearish Engulfing or of the high of a Bullish Engulfing.

If you aren't interested in painting trigger bars, then for the reversal pattern you could just paint the third bar of the three bar pattern....

Code

if H[2] < H[1] and L[2] < L[1] and H < H[1] and L < L[1] then color = GetPlotColor(12);
if H[2] > H[1] and L[2] > L[1] and H > H[1] and L > L[1] then color = GetPlotColor(13);

Just random thoughts...

Bacon