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How to change my candle colors?

peterinjapan
peterinjapan ✭
in SharpCharts
Hi, I've long wondered at the Hollow, Red and Black bars, and still don't understand it properly after trying several times to get it. But it doesn't matter, because the person I follow on Youtube (Blue Cloud Trading) uses standard (no hollow) candles, and I want to match that.

On the SNCY chart on Jan 22, Stockcharts showed me a nice black bar that indicated a 1.62% move up. But on the chart my Youtube sense is using, it shows a red candle for the same day. I'm trying to understand why, and how I can match his so we're looking at the same charts, if that's a good idea. He is using TC2000 on Windows. If he's seeing red candles that tell him to sell, and I'm seeing healthy black candles with the same data, it's quite frustrating.



Comments

  • peterinjapan
    peterinjapan ✭
    And again! The Jan 17 candle for EQT (the 5th from the right, remember that the markets were closed Monday) shows as a hollow red candle for me, a spinning top that was -1.52%, a great time to exit, I thought. But the guy I follow on youtube shows that day as a positive, last least it's the same color as the positive bars. This is frustrating because the same data is showing two different ways, or so it seems.



  • markd
    markd mod
    edited January 26
    On Stockcharts, the black candle appears when the close is higher than the previous bar's close (so it's an "up" day in that sense), but the close is below the same day's open (which is bearish). So its not really a green bar in the way other bars are green (higher close and close above open).

    The red outlined white bar is the opposite. The close is lower than the previous bar's close (so bearish, or red) but the close is above the open, so bullish (so the candle should not be completely red - in SC's opinion).

    Maybe it would be more consistent to make the black bar white with green outline. But the black body does call your attention to the bar, which, in many cases is a good thing. It is bearish in an up trend when a new high closes below it's open, and more so when range and volume are above average. Most of the time, after a strong black bar upside progress will be limited for at least a few bars and you will get either a range or a playable down leg.

    Depending on your point of view, I suppose, the Stockcharts method is actually more informative, or at least less misleading.

    This is all explained somewhere on the site, maybe in Chart School somewhere. If I can find it I'll post the link.

    P.S. Here's the explanation for OHLC bars

    https://chartschool.stockcharts.com/table-of-contents/overview/technical-analysis-101/ta-101-part-4#ohlc_bar_colors

    and here it is for candles

    https://chartschool.stockcharts.com/table-of-contents/overview/technical-analysis-101/ta-101-part-5
  • lmkwin
    lmkwin ✭✭
    edited January 26
    Charts display based on Settings. You can duplicate your chart to matchup with the guy you follow on youtube if you use the same settings as he does. If I change my Up and Down colors from Auto or whatever and change them to Cyan Up and Pink Down and make them "Solid Candles" I get this




    No "black" candles or Red whites.



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