This is the same as my background up/down except it displays a column to show if the stock is above or below the previous day close.
When looking at numerous charts, you can instantly see if they are up or down for the day. For me, I like to be going long on the stocks that are already moving up and short on the ones that are moving down. When using lower time frames, you can lose perspective of where it is on the daily chart .
When looking at numerous charts, you can instantly see if they are up or down for the day. For me, I like to be going long on the stocks that are already moving up and short on the ones that are moving down. When using lower time frames, you can lose perspective of where it is on the daily chart .
//Created by Robert Nance 11/19/15 //This script simply colors the background when price is above or below the previous day close. //Works nice for seeing if the stock is up or down for the day. study(shorttitle="UP/DN", title="Column Up or Down", overlay=false) cdl = input(true, title="Previous Daily Closing") dclose = security(tickerid, 'D', close[1]) positive = close > dclose negative = close < dclose plot(positive, style=columns, color=lime) plot(negative, style=columns, color=red)