How To Color The Background?

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Goals

• The script sets up an indicator named "Background Color" that overlays on the main price chart.

• It changes the chart's background color to a semi-transparent orange.

• It plots the closing prices of the asset on the chart.

Pine Script Code:

//@version=5
indicator("Background Color", overlay=true)

bgcolor(color.new(color.orange, 75))
plot(close)

Code Output

Explanation:

1. Version Declaration:

//@version=5

• This line specifies that the script uses Pine Script version 5, which is the latest version of Pine Script used in TradingView.

2. Indicator Declaration:

indicator("Background Color", overlay=true)

• This line declares a new indicator with the name "Background Color".

• overlay=true means that the indicator will be plotted on the same chart as the price data (candlestick chart) rather than in a separate pane.

3. Background Color:

bgcolor(color.new(color.orange, 75))

• This line sets the background color of the chart to a semi-transparent orange.

• color.new(color.orange, 75) creates a new color object with the base color orange and an alpha value of 75. Alpha values range from 0 (fully transparent) to 100 (fully opaque), so an alpha of 75 makes the orange color somewhat transparent.

4. Plot Closing Price:

plot(close)

• This line plots the closing price of the asset. The close variable is a built-in variable in Pine Script that represents the closing price of each bar (candle).

Keywords

pine script, trading view, script editor, indicators, strategies, backtesting, alerts, custom scripts, stock analysis, charting tools, technical analysis, built-in functions, pine script syntax, trading bots, automated trading, scripting language, market data, trading signals, financial markets, programming trading strategies

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