Background :
This tips page is focused on how to display a Value Area “Candle” (or bands) on a traditional candle charts
Attached chart involves the following features :
- Using the Paint Indicator to display custom candle reflecting the Profile Value Area on a daily chart periodicity (set to match the current day session)
- Using alternatively the "Band" Indicator to achieve the same effect, with the option to extend "naked" Value Area Profile bands.
https://www.linnsoft.com/charts/ef-valuearea-candle-es
Step 1) Creating 2 Custom Indicators corresponding to the High and Low Value of your custom candle
When it comes to display a candle based on the Profile Value Area High and Low, (on a 1d* charty, ie a daily periodicity built from intraday data), you first need to create 2 custom indicators using the Profile token, ie one CI returning the Value Area High, and the other the Value Area Low
Generally speaking, for these Profile tokens, make sure that you use the same settings (Price per Row / Time per profile) as for the Profile Indicator associated with these values
2) Setting up the Paint Indicator RTX (or the Band Indicator) for simulating a candle
Paint Indicator settings: use the “Band (Custom)” Style settings. You may adjust the total width (ie ”Side”) of the vertical band. If you need to display a hollow candle, you can also adjust the hollow line width (and this is therefore the best option for an hollow candle)
Band Indicator settings: use the “Thick Bar” Style settings. You may adjust the total candle width with the custom width option in pixels (and possibly adjust the position with an offset)(ie ”Side”). There is also a "hollow" checkbox (but without a line width selection) candle
3) Importing the value area candle into your own charts
The easiest way is just:
a) to import the shared chart definition on your instance
b) Copy the “VA Cdle PaintIndRTX” button and paste it to the button pane of your own charts
c) Adjust the custom candle “side” to your own chart pixel/bar settings
On the shared chart, my candle width settings were 150:10 (ie the candle is 10 pixel width, for a full daily horizontal scale of 150 pixel) while my “Value Area” candle is 25 pixels.
Reminder: When the pixel bar input is a single figure, the candle width will automatically fit the largest available space on the horizontal scale. When adding a second figure, this is forcing the candle width to that number of pixel. This way, you can display "thin" candlestick that won't prevent having a full display of the profile indicator (added "behind" in the chart element manager list).
Some further tips :
- Use the "Stepped Blocks" option of the Band indicator to get a fully colored Value Area background
- You may also, with that Band Indicator Style, activate the “extend” naked Value Area feature
