Hello!
Could someone explain me how the color coding works in the labels of this script?

# ADVANCE-DECLINE LABEL
def ADSPD = close ("$ADSPD");
def percentAD = Round(100 * ((ADSPD) / 500), 1);

# LABEL COLOR
def Red_w1 = slope > 0 and percentAD < percentAD[1];
def Red_s1 = slope < 0 and percentAD < percentAD[1];
def Green_w1 = slope < 0 and percentAD > percentAD[1];
def Green_s1 = slope > 0 and percentAD > percentAD[1];
def gray1 = slope == 0 or percentAD == percentAD[1];

AddLabel(yes, "AD: " + percentAD + "%", if Red_w1 then CreateColor(222, 81, 93) else if
Red_s1 then Color.RED else if Green_w1 then CreateColor(0, 139, 139) else if Green_s1 then
CreateColor(2, 217, 218) else if gray1 then Color.GRAY else Color.BLACK);

Thanks!!

What part don't you understand? The conditions? Or the custom colors?

JayC 

What part don't you understand? The conditions? Or the custom colors?

The conditions. I don't understand the conditions for choosing one color or another... I don't understand the conditional structure.
Could you explain it in colloquial language?

The slope seems to be defined out of scope somewhere else, and the conditions are just looking for positive/negative slope values. But you are probably more interested in the percentAD part. The percentAD[1] is referencing the previous value by one bar and comparing it to the current value (eg is the current value less than the previous value).

Red_w1 - positive slope and decreasing AD percentage
Red_s1 - negative slope and decreasing AD percentage
Green_w1 - negative slope and increasing AD percentage
Green_s1 - positive slope and increasing AD percentage
gray1 - flat slope and flat AD percentage

Let me know if you need more,
Jay

JayC 

The slope seems to be defined out of scope somewhere else, and the conditions are just looking for positive/negative slope values. But you are probably more interested in the percentAD part. The percentAD[1] is referencing the previous value by one bar and comparing it to the current value (eg is the current value less than the previous value). Red_w1 - positive slope and decreasing AD percentage Red_s1 - negative slope and decreasing AD percentage Green_w1 - negative slope and increasing AD percentage Green_s1 - positive slope and increasing AD percentage gray1 - flat slope and flat AD percentage Let me know if you need more, Jay

Perfect, JayC!!
Thanks!!