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Mr. Hahn: I am presently using your answer to this idea in my watch list column. Without question it’s a great tool. I find that I still need to check to be sure that the RSI value is climbing or falling. Because these values are constantly moving in real time I would like your opinion on this additional idea. It would be nice to be able to look at this column and also identify if the value is above or below yesterdays close. Would it be possible to change the color scheme on the numbers to reflect, if the present value is greater or less than yesterdays close? Thanks for all you do for us.
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First off, let’s supply the link to that post. Otherwise folks will have a very difficult time finding it and understanding the context of your present request: https://www.hahn-tech.com/ans/rsi-custom-watch-list/ Next, I will update the title of your question to better reflect the request. When other viewers are searching, they will not be searching for a date. They will be searching for something like “Change Watchlist Color Based on Day over Day change of RSI”. To be clear, your request does mention the code in the previous post. And in that post we provide a solution that changes the background color based on the RSI being above or below a specific value. I think you are wanting to keep that functionality and add to it the ability to easily see if the RSI is above or below the previous day’s value. Is this correct? Because in order to provide both, we’ll have to either use for different background colors or we’ll have to change the color of both the text and the background. For instance we could change the background based on the original rules, then change the text color based on your additional criteria. Make sense? So, please provide a bit more details so all these little bits are crystal clear. Then we’ll update this answer to include the statements required to make it happen. Marked as spam
 Posted by Pete Hahn (Questions: 37, Answers: 4118) Answered on March 31, 2017 1:22 pm
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Ok, now that we have some clarification I will provide a solution. The challenge is to present color schemes that clearly express all five conditions and to do so while retaining a high degree of contrast. This is going to vary greatly from one pair of eyes to the next. So what I present here is not going to fit everyone. You will have to make adjustments to adjust for your own perceptual bias. I have provided an updated line from the original post…. (located here) https://www.hahn-tech.com/ans/rsi-custom-watch-list/ And I have provide a new statement that will change the color of the values in the custom watchlist. Once again, to save space I will only be providing the lines that are added to the standard built-in version of the RSI.
You can see that for the RSI values I am using colors that are built into the thinkscript language. But for the background colors I am using a function named CreateColor(). You can read about that here: http://toslc.thinkorswim.com/center/reference/thinkScript/Functions/Look---Feel/CreateColor.html This function uses RGB values to create a custom color. There are many resources online that allow you to select a custom color from a pallet and retrieve the RGB values used to create it. You can use the CreateColor() function anywhere in the thinkscript language where a standard color is accepted. Screenshot below shows the final result. Attachments:
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Posted by Pete Hahn (Questions: 37, Answers: 4118) Answered on April 1, 2017 12:33 pm
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Yes! I’m using the code provided that changed the background colors when overbought and oversold and I am wanting to keep that. Although my thoughts would be to lighten the present background colors and find a more florescent version of Red and Green for the numbers that would be readable in all three colored backgrounds. My thoughts are that if the RSI value is greater than yesterdays close the numbers would be Red, if not then green. I have tried to locate the think script color codes but haven’t been able to find them. Because I am a swing trader I don’t see the value in this idea once in overbought or oversold but it might be very important to a day trader. That’s why I ask for your thoughts. I’m sure when you do something you want it to work for many others as well. Anyone using a range bound study could adapt this information to their needs and desires. This also eliminates two scans and two different watch lists. Example: If I’m looking for a long position I can quickly see in my watch list column that WMB has a RSI value of RED 52.45 and that’s because it’s higher than it was yesterday, then I might look at the chart. If it’s GREEN lower than yesterday I’m not interested in it today and continue down my list. Your assistance with these watch list columns has turned 2 hours of work into 15 minutes of almost excitement again. I hope this is more clear. I’m quite sure that TDA plans to keep my Scottrade office and the people working there. I have talked to them about your website. At this time they are still acting as competition but some are starting to check things out. Thanks again for your assistance.