OPEN-SOURCE SCRIPT
Tick-Based Candle Coloring
This indicator visually highlights candlestick bars based on the value of a specified tick input. It helps traders quickly assess market sentiment using dynamic color coding:
Cyan: Indicates a tick value greater than 0, suggesting positive market movement.
Red: Indicates a tick value less than 0, suggesting negative market movement.
Gray: Indicates a neutral tick value of 0, suggesting no directional bias.
Features:
Customizable Tick Input: Manually input the tick value or connect it to a data source.
Color-Coded Candlesticks: Enhances chart readability with intuitive colors directly applied to bars.
Overlay on Chart: Displays directly on the main candlestick chart without cluttering your workspace.
Ideal For:
Traders who rely on tick-based data to gauge market sentiment or momentum at a glance.
Cyan: Indicates a tick value greater than 0, suggesting positive market movement.
Red: Indicates a tick value less than 0, suggesting negative market movement.
Gray: Indicates a neutral tick value of 0, suggesting no directional bias.
Features:
Customizable Tick Input: Manually input the tick value or connect it to a data source.
Color-Coded Candlesticks: Enhances chart readability with intuitive colors directly applied to bars.
Overlay on Chart: Displays directly on the main candlestick chart without cluttering your workspace.
Ideal For:
Traders who rely on tick-based data to gauge market sentiment or momentum at a glance.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Want to use this script on a chart?
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.