Vertical Bands

Vertical Bands allow coloring vertical bands on a chart to represent the value of an indicator called the Underlying Indicator relative to two configurable threshold values.

This graphical representation can be applied to a large number of indicators in the software library, including native indicators and user-programmed custom indicators.

Depending on the choice of the Underlying Indicator, this representation allows notably highlighting the moments when the security's trend is bullish, bearish, or showing no clear trend.

Example

The Underlying Indicator in this example is a custom indicator that calculates the difference between a short-term moving average and a long-term moving average.

Usage

The choice of the Underlying Indicator as well as its own parameters is made at the level of the Vertical Bands parameters.

Along with the Underlying Indicator's own parameters, two thresholds are used to define the color of the vertical bands as follows:

• Color 1: when the value of the Underlying Indicator is beyond the first threshold
• Color 2: when the value of the Underlying Indicator is below the second threshold

When the value of the Underlying Indicator is between these two thresholds, the vertical band remains with the chart's background color.