How To Plot A Bar?

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Goals

• The script plots a single bar on the chart based on the open, high, low, and close prices of the current bar.

• The color of the bar depends on whether the closing price is greater than the opening price:

  • If close > open, the bar color will be green.

  • If close <= open, the bar color will be red.

Pine Script Code

//@version=5
indicator("Plot Bar")

barColor = if (close > open)
    color.green
else
    color.red

plotbar(open, high, low, close, title="BAR", color=barColor)

Code Output

Explanation

1. Version Declaration:

//@version=5

• This line specifies that the script is written in Pine Script version 5.

2. Indicator Declaration:

indicator("Plot Bar")

• This line defines a new indicator named "Plot Bar". When this script is applied to a chart, this name will be shown in the list of applied indicators.

3. Determining Bar Color:

barColor = if (close > open)
    color.green
else
    color.red

• barColor: This variable determines the color of the bar to be plotted based on the condition (close > open).

• if (close > open): This is a conditional statement that checks if the closing price (close) is greater than the opening price (open).

• color.green and color.red: These are predefined colors in Pine Script. If the condition (close > open) is true, barColor is set to green; otherwise, it's set to red.

4. Plotting the Bar:

plotbar(open, high, low, close, title="BAR", color=barColor)

• plotbar(open, high, low, close, title="BAR", color=barColor): The plotbar function is used to plot a bar on the chart.

• open, high, low, close: These are built-in variables in Pine Script that represent the opening, highest, lowest, and closing prices of the current bar respectively.

• title="BAR": This specifies the title of the plot on the chart.

• color=barColor: This specifies the color of the bar, which is determined by the barColor variable.

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