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                                                   Can you share your main (candlestick chart) formula? Here's mine!

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Josh McCormick
2020-07-22 16:42:48


Do you mind sharing the formula for your stock price chart?

I'm hoping to get some ideas and see what everyone else is using for their main stock price chart. I guess it wouldn't be fair if I didn't start off by sharing my own, so here it is.

MY MAIN CANDLESTICK CHART (as of July 22, 2020):
=======================================

// REMOVE THE EXTRA PADDING (MARGINS) AT THE TOP AND BOTTOM OF THE GRAPH

UpdateSettings("Top-Bottom Chart Margin", 0);

// LABEL THE CENTER-BOTTOM OF THE GRAPH WITH THE NAME/FUNCTION OF THE CURRENT FORMULA
// This labels the graph with the currently active symbol's name followed by "STOCK CHART".
// EXAMPLE: SPY STOCK CHART
// FYI: Every chart uses PrintChart to display their name and any major settings at the bottom/center.

PrintChart(Name()." STOCK CHART","", BottomCenter, colorBlack, colorBlack, colorWhite, 255);

// OPTIONAL: DISPLAY PERCENTAGE CHANGE ABOVE EVERY CANDLESTICK
// Calculates each bar's % change and displays it above each candlestick.
// This is used when a tracking spreadsheet needs to be manually updated.
// NOTE: Visually noisy. Except when needed, this should be commented out.
// CHANGES: There are two formulas below. The first compares previous close to current close.
// CHANGES: The second compares open to close (which matches how candles are colored)

//mychange=Round(100*(ref (close,0)-ref(close,1))/ref (close,1),3); // Calculation for a special spreadsheet
//mychange=Round(100*(ref (close,0)-ref(open,0))/ref (open,0),3); // Calculation for everyday use
//Plot(mychange, "Change %", colorBlack, ChartNone, StyleNoScale|StyleHideYAxisValue);
//PlotArrow (1,mychange."%", AboveHigh,colorRed);
//UpdateColor (mychange==0,colorBlack);
//UpdateColor (mychange>0,colorGreen);

// OPTIONAL: PLAYS WINDOWS BELL WHEN A NEW BAR IS GENERATED (DOWNLOAD: "Beep on a New Bar")
// NOTE: Based on personal preference, this should be commented out except when needed.

a=beepnewbar();

// OPTIONAL: LOWER-LEFT INFOBOX WITH SYMBOL INFORMATION (DOWNLOAD: "Symbol Information on Chart")

p = SymbolInformation();

// ZERO-LAG EXPONENTIAL MOVING AVERAGE OF THE CLOSING PRICE (DOWNLOAD: "Zero-Lag Exponential Moving Average")
// Tightly hugs the closing price except for extreme moves, which are smoothed.
// Graph the output and store it in the variable "series" to be used with Hilbert Transform (HT) functions.
// The HT functions appear to work better when working with data that has been lightly smoothed.

series = Zlema(close, 5);
plot(series, "Zlema", colorBlack, ChartLine, StyleDotted|StyleWidth4);

// DOTTED LINE WITH OPENING PRICE (DISPLAYED ONLY WHILE ON THE *INTRADAY CHARTS*)
// Continuously plots each day's opening price across the Intraday chart.
// POTENTIAL ISSUE: Can widen the plot's scale when intraday prices move away from the opening price.

todayopened = HistoPrice(_open, 0);
plot(max(todayopened,(IsEoD()==1)*close), "OPEN",colorDeepSkyBlue,ChartLine,StyleWidth2|StyleDotted|StyleHideValues);
UpdateColor (IsEoD()==1, ColorTransparent);

// OBTAIN DEFAULT PERIOD FROM THE HILBERT TRANSOFRM DOMINANT CYCLE PERIOD
// Use half of the Hilbert Transform's Dominant Cycle Period as our own default period length.

//period=Round (Ht_DCPeriod(series),0); // Result will be an integer between 10 and 50. (Full value.)
//period=Round (Ht_DCPeriod(series)/4,0); // Result will be an integer between 3 and 12. (Quarter value.)
period=Round (Ht_DCPeriod(series)/2,0); // Result will be an integer between 5 and 25. (Half value.)

// SUPERTREND currently under evaluation. (DOWNLOAD: "Supertrend Indicator")
// Disabled by default to reduce visual clutter.

supert = supertrend(period, 3);
plot(supert, "supertrend", colorLightGreen, ChartLine, StyleDotted|StyleWidth3|StyleHideYAxisValue);
UpdateColor (supert>series, colorlightcoral); // Optional coloring of medium/long-term trend

// ENHANCED CANDLESTICKS (DOWNLOAD: None required.)
// Candlesticks will be lightened/darkened based on volume.
// Other lines (such as ZLEMA) will be plotted BEHIND the candlesticks.
// The script below comes from the AddCandleStickVol add-on (no need to download).
// The thickness of the wicks above/below the candles is set with the StyleWidth2 argument.
// The foreground/background status of the candles is set with the StyleBringToFront argument.

PlotCandleStick("Quotes", colorBrown|255|colorViolet|255|0, StyleWidth2|StyleBringToFront);
UpdateColor(((volume >= Ref(volume, 1)) + (close > open)) == 2, colorGreen);
UpdateColor(((volume < Ref(volume, 1)) + (close > open)) == 2, colorLightGreen);
UpdateColor(((volume >= Ref(volume, 1)) + (close <= open)) == 2, colorRed);
UpdateColor(((volume < Ref(volume, 1)) + (close <= open)) == 2, colorLightCoral);

// ENHANCED VOLUME GRAPH AT QUARTER-SIZE SCALE (DOWNLOAD: None required.)
// Volume bars are partially transparent and are plotted BEHIND the rest of the graph.
// Volume bars will grow lighter/darker as volume increases/decreases versus the previous bar.
// Volume bars will only occupy the bottom 1/4th of the available space in the graph.
// The script comes from "Enhanced Candlestick Chart with Volume Variation" add-on (no need to download).
// Thanks to the QuantShare Team for the magic which further limits the vertical size of these bars.

plot(volume, "Volume", colorLime|50|colorLime|50|0, ChartBar, StyleOwnScale|StyleHideValues|StyleHideYAxisValue);
UpdateColor(((volume >= Ref(volume, 1)) + (close > open)) == 2, ColorGreen|40);
UpdateColor(((volume < Ref(volume, 1)) + (close > open)) == 2, ColorLightGreen|40);
UpdateColor(((volume >= Ref(volume, 1)) + (close <= open)) == 2, ColorRed|40);
UpdateColor(((volume < Ref(volume, 1)) + (close <= open)) == 2, ColorLightCoral|40);
Plot(volume *4, "Volume", colorTransparent, ChartNone, StyleOwnScale|StyleHideYAxisValue);
UpdateSettings("MergeWithPreviousOwnScale", 1);





Beep on a New Bar (by QuantShare, uploaded several months ago)
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Symbol Information on Chart (by QuantShare, uploaded several months ago)
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Zero-Lag Exponential Moving Average (by Tom Huggens, uploaded several months ago)
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Supertrend Indicator (by Juliettpapa, uploaded several months ago)
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