Overlaying the Current Daily Candle on Any Chart Timeframe
Summary
This indicator draws the current daily candle on a chart running at another timeframe. It reads the daily open, high, low, and close, then uses colored rectangles to show the candle body and its upper and lower ranges. Green represents a close at or above the open; red represents a close below the open. The drawing is limited to the latest bar and placed over the price chart because the platform cannot draw objects beyond the chart’s right edge.
An alpha setting controls transparency, allowing the overlay to be made more or less visible. The example uses the platform’s graphical drawing objects and is intended as a chart display aid, not a trading signal or tested strategy. It supplies no performance evidence or rules for entering and exiting trades. The candle represents the current daily bar, so its appearance can change before that daily period closes; users should also account for the overlap with price information on the chart.
Key ideas
- The indicator displays daily open, high, low, and close values on a chart at another timeframe.
- Rectangles depict the candle body and its high and low ranges.
- Color distinguishes an up or unchanged daily candle from a down candle.
- An alpha setting adjusts the overlay’s transparency.
- The display is drawn over the latest bar and is a visualization aid rather than a trading strategy.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.