Volume scaled Price + auto colour change light/dark mode

9 feb 2023

🔶 OVERVIEW


🔹 This script shows price in a similar style as volume. To accomplish this we use the body of the candle (close-open), which is placed on a zero line.


This can be useful when comparing volume ~ price.

🔹 3 options are included to show additional lines, to make comparisons easier:
· Percentile nearest rank
· Bollinger  Bands  (BB)
· Simple  Moving  Average  (SMA)


🔶 SETTINGS


🔹 Option: choose whether to show price (candles) or volume . Adding 2 versions of this indicator on the chart enables you to compare these 2 options:



🔹 Lines:
· (Percentile nearest rank (only the setting mult is used for this option).


· Bollinger Bands (BB) (only the setting % perc. nearest rank is used for this option).


· Simple Moving Average (SMA )


All 3 options will use length, this is the amount of bars used for calculations.

🔹 Show wick will show you... wicks :)


🔶 PERCENTILE NEAREST RANK








🔹 This script has 2 extra types of background color

Pine Script®

· In this case:
         · volume  is higher than previous volume  (volume > volume[1])
         · volume  is above 90th percentile rank (volume > prV)
         · price is lower than previous price (z < z[1])
         · price is below 10th percentile rank (z < prP_)

Pine Script®

· The second type background color is reversed (volume lower, price higher)



🔶 AUTOMATIC COLOUR CHANGE WHEN SWITCHING DARK/LIGHT MODE


🔹 chart.bg_color returns the color of the chart’s background from the "Chart settings/Appearance/Background" field, while chart.fg_color returns a color providing optimal contrast with chart.bg_color. 
   · Following technique gives you the possibility to pick your own colour for either dark/light time.

· We first retrieve separately the red, green and blue component of the measured chart.bg_color

Pine Script®

The following assumption states when all 3 colour components' values are below 80, we are in the dark mode:

Pine Script®

Now we can use isDark to automatically show your own dark/light mode colours (chosen at settings), dependable on the mode:



Cheers!