Help OnLine | Colored Areas

Colored Areas

Video Tutorial

How to set colored area in the indicators


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For each panel of the chart it is possible to define colored areas that are enclosed between two values chosen from all those available in the panel. The colored areas make the interpretation of the indicators more immediate, allowing an easier reading of the market situation.

How to set the color areas

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By clicking on the item “Colored Areas” in the menu of the headings of the chart panels, the window for setting the color areas will be displayed.

The window is divided into two sections, on the left the list of color areas present in the graph panel, with the “Add New Area” and “Delete Selected” buttons to add a new color area and to delete the selected area in the list.

The right part of the window presents the data of the color zone selected in the left list.

Pay attention to the settings related to the data series that will represent the lower and upper margins of the colored area. In the “Series 1” and “Series 2” selection boxes you can choose which time series or indicators to use, and in the “Series 1 – Element” and “Series 2 – Element” boxes which elements of the time series or indicator to use. For the time series, the available elements are Open, High, Low and Close. For indicators, the list of elements depends on which and how many lines make it up. For example, Bollinger Bands have Top, Middle and Bottom elements to indicate respectively the upper band, the midline and the lower band. Other indicators will have a list of different available items, and some indicators will have only one items.

The pair “Series 1” and “Series 1 – Element” represents the choice of the first data series to use to draw the color zone, which for simplicity in the following explanation we will call “element 1”. The pair “Series 2” and “Series 2 – Element” represents the choice of the second series of data to use to draw the color zone, which for simplicity in the following explanation we will call “element 2”.

In the “Drawing Mode” selection box you can choose how to draw the area enclosed between the two elements, if “Uniform”, that is with a single color, or if with “Multiple Colors”, that is with 2 colors depending on the relative position of the two selected elements. In the first case there is a single box for selecting the color and relative transparency. In the second case there are two color and transparency selection boxes, the first to be used when element 1 has a value greater than element 2, the other to be used in the opposite case, i.e. when element 1 has a lower value of element 2.

The settings made in this window are immediately applied to the chart, in order to have an immediate preview to make it easier to choose the parameters of each area.