A few traders contacted us and asked if we could slightly alter the behavior of MW’s standard ‘bar coloring’ feature.
Instead of coloring the bars according to the slope of the MA (that is the standard MW behavior), they wanted the bar’s closing price to determine the bar’s color.
So VB6’s advanced “ColoredBars for MA’s” does exactly this: the slope of a MA no longer decides whether a bar is colored, but the close above / below does.
In the screenshot below you can clearly see the difference between ‘normal MW’ behavior (on the left) and our Study’s behavior.
Tiny code does makes for BIG changes sometimes
Of course you can still change the input (choose from open, high, low, close, Midpoint, Typical Price and Weighted Price) and the MA method, as well as the Period and shift:
Full disclosure: does NOT send signals, because this was not in the original coding request. But vb6 could obviously code this for you, should you want it.