OPEN-SOURCE SCRIPT
Background Up or Down
This script will color the background based upon whether it is positive or negative for the day. When looking at numerous charts, you can instantly see if they are up or down for the day. For me, I like to be going long on the stocks that are already moving up and short on the ones that are moving down. When using lower time frames, you can lose perspective of where it is on the daily chart.
On the example above, you can see a 5 minute chart of NFLX. It shows you when it dropped below the previous days close.
On the example above, you can see a 5 minute chart of NFLX. It shows you when it dropped below the previous days close.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.