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Generic Two Indicator Distance Overlay
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=72554
Forum: 17 · Topic 72554 · 5 post(s)
Generic Two Indicator Distance Overlay
Apprentice · Sun Jul 24, 2022 4:59 am
Based on the request. https://fxcodebase.com/code/viewtopic.php?f=17&t=72546
Find the difference between any two indicators and color the candle one color when the difference exceeds a user-defined threshold and another color when it falls below the threshold.
Generic Two Indicator Distance Overlay.lua
Re: Generic Two Indicator Distance Overlay
Sheera123 · Sun Jul 24, 2022 9:56 am
Hi Apprentice,
Thanks for creating the indicator. But it doesn’t seem to be detecting when the difference is above or below the threshold. See attached pic for an example of what I want it to show. I am assuming, “Candle Color Level” is the threshold value and when I set it higher that 0, all the candles are colored with the same color.
I think you will have to add a 3rd color for when the difference is below the threshold. So the logic would be like this:
Up/Down trend: 1 - If 1st indicator is above 2nd indicator and difference is greater than threshold, color 1. 2 - If 1st indicator is below 2nd indicator and difference is greater than threshold, color 2.
Range: 3 - If 1st indicator is above 2nd indicator and difference is less than threshold, color 3. 4 - If 1st indicator is below 2nd indicator and difference is less than threshold, color 3.
The difference between the 1st and 2nd indicator is measured in pips.
Hope this makes it a bit clearer.
Thanks again, Shawn H.
Re: Generic Two Indicator Distance Overlay
Apprentice · Wed Jul 27, 2022 2:24 am
Try it now.
Re: Generic Two Indicator Distance Overlay
Sheera123 · Wed Jul 27, 2022 6:52 am
Works as expected now. Now I just have to play around with it to see which combination of TF and indicators gives the best results.
Thank you very much.
Shawn H.
Re: Generic Two Indicator Distance Overlay
Apprentice · Thu Jul 28, 2022 8:03 am
Make sure to share the info…