Higher time frame candle direction Text

• 07/19/2019 at 9:26 AM #102890
  Stocks008

  Good day,

  I would like to add text on the side of an hourly chart that can tell me if the 4 hour candle is bullish or bearish. I have seen the indicator that draws rectangles of higher time frame candles but I don’t know how to change it so that I can add text.

  On hourly chart the text should say if the 4 hour chart’s close is higher or lower than the open.

  thank you,

  Justin

  

  Stocks008

  Participant

  Topics: 17

  Replies: 15

  Been thanked: 1 time
  07/19/2019 at 10:25 AM #102902
  GraHal

  The information on how to  DRAWTEXT is on the HELP dropdown (top toolbar) under language documentation. 

  A comprehensive example is provided on the link below

  https://www.prorealcode.com/documentation/drawtext/

  

  GraHal

  Participant

  Topics: 204

  Replies: 8399

  Been thanked: 2041 times
  07/19/2019 at 10:58 AM #102907
  Stocks008

  I understand how to draw text but where I get confused is how to get 4-hourly data into the code so I can draw text on an hourly chart if you know what I mean?

  I just want the text on the hourly to tell me if the close is <or> than the close but I am not sure where to even start.

  for example: Dopen > dclose but I don’t know how to do it with 4 hour bars.

  How do I go about that?

  

  Stocks008

  Participant

  Topics: 17

  Replies: 15

  Been thanked: 1 time
  07/19/2019 at 11:25 AM #102908
  GraHal

  JD008 wrote:

  I have seen the indicator that draws rectangles of higher time frame candles but I don’t know how to change it so that I can add text.

  Post the code here of the Indicator you want Drawtext adding into.

  Above will be easier and quicker for somebody to help you than to try and explain how to do it.

  

  GraHal

  Participant

  Topics: 204

  Replies: 8399

  Been thanked: 2041 times
  07/19/2019 at 11:33 AM #102909
  robertogozzi

  There you go:

  DEFPARAM CalculateOnLastBars = 1000 DEFPARAM DrawOnLastBarOnly = true h1 = OpenTime MOD 4 IF h1 = 0 THEN h1 = 4 ENDIF h4Open = open[h1 - 1] h4Close = close IF h4close > h4Open THEN Offset = highest[h1](high) DRAWTEXT("4H candle is BULLISH", BarIndex[h1 - 1], Offset) COLOURED(0,192,0,255) ELSE Offset = lowest[h1](low) DRAWTEXT("4H candle is BEARISH", BarIndex[h1 - 1], Offset) COLOURED(192,0,0,255) ENDIF RETURN

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

  DEFPARAM CalculateOnLastBars = 1000 DEFPARAM DrawOnLastBarOnly   = true h1 = OpenTime MOD 4 IF h1 = 0 THEN    h1 = 4 ENDIF h4Open  = open[h1 - 1] h4Close = close IF h4close > h4Open THEN    Offset  = highest[h1](high)    DRAWTEXT("4H candle is BULLISH", BarIndex[h1 - 1], Offset) COLOURED(0,192,0,255) ELSE    Offset  = lowest[h1](low)    DRAWTEXT("4H candle is BEARISH", BarIndex[h1 - 1], Offset) COLOURED(192,0,0,255) ENDIF RETURN

   

  2 users thanked author for this post.

  Stocks008, GraHal

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16469

  Been thanked: 3643 times
• Author
  Posts