Frequently Asked Questions

Bar Chart

Bar

The standard OHLC bar chart. Color is used to show up, down or no change status from the previous bar. The ChartPrefs menu enables choice of various types of Bar Chart, e.g. Paint Bar.

Paint Bar

Same as the Bar chart type except that the colors used are based on a user defined color formula. This chart type is used for showing generalized support and resistance areas.

Here the above shot is a formula that creates a MACD. Step 1 uses the REF plugin to get an array of Close bars. Step 2 uses the MACD plugin using step 1 for the input. Step 3 creates an MA using step 2 as the input, this will be the trigger plot. Step 4 uses the COMP plugin to compare the MACD in step 2 with the trigger in step 3. If step 2 is >= step 3, then the compare result is true. If not, the result is false.

**CRITICAL**
In order for any formula to work, you must have a COMP step somewhere in the formula to generate the boolean array that will generate the bar colors. A TRUE value will plot an Up color. A FALSE result will plot a Down color. Note also that the only step that is checked in the plot column must be the COMP step. The checked step is the one that tells qtstalker which step contains the logic for painting bars. If a non COMP step or multiple steps are checked, the results will be unreliable.

Here is what the above formula will look like. Notice how when the red MACD line rises above the MACD yellow trigger line, the bars are green, meaning a buy alert. When the MACD falls below the MACD trigger line, the bars are colored red, meaning a sell alert.