Thursday, January 19, 2012

Monitor JAN-FEB 12: Support Tip

Support Tip
Why are my candles colored incorrectly?
Contributed by MetaStock Support
The up and down color options in the price properties windows is not based on the same open/close relationship that governs candlesticks. Candlesticks are solid (black) if the open is more than the close and hollow (white) if the open is less than the close. The price bars are colored by the properties window as up if the current close is more than the prior close and down if the current close is less than the prior close. If you want to have candles colored differently, you will need to use an expert with different highlights setup for white and black candles.
You can do this with an Expert Advisor as follows:

1) Start MetaStock.

2) Display a candlestick chart.

3) Click "Tools" and then "Expert Advisor".

4)Click New.

5) Click the Name Tab. Type "Candlestick Color Change" into the Name Field.

6) Click the Highlights Tab. Click New.

7) Type "UP CANDLE" into the name field. Set the color to green. Type "C>O" into the condition field and click OK.

8) Click New again. Type "DOWN CANDLE" into the name field. Set the color to red. Type "C

9) Click OK and close the Expert Editor menu.

10) Now, you can attach this expert advisor to any Candlestick Chart in MetaStock. Simply right click anywhere on the chart and select Expert Advisor, then Attach.

11) Select the Candlestick Color Change Expert and click OK.

12) Your candlestick chart should display candlesticks in red and green.

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