Colour Schemes

Bar Colour Mode - Bar Colour Offset - Positive Colour - Negative Colour - Ranging Colour

What Does The Colour Schemes Do?

With Blackfire X, there are many different colouring methods available to help the traders follow the correct trend through colour. They can be utilised to filter out ranging markets, pullbacks or an alert indicating of an early switch to a new trend in the opposing direction.

Bar Colour Mode

This dropdown field houses all of our unique bar colouring methods that can be utilised to help traders colour the bars to their trading style. Each style can be effective in many situations and they all filter out ranging markets and trending markets in a different way.

Pivot Based is first on the list and by far our favourite colouring method, it utilises pivot points to colour the market trend in different sections from weak to strong to out of bounds.

Cloud Based is second on the list and it utilises the trend cloud feature within the algorithm to colour in the candles. However, with the nature of the cloud and price, users can expect there to be more out of bounds colours in the middle of strange areas. Uncoordinated colouring may occur with this mode.

S/R Based is third on the list and it utilises our wick-based support and resistance zones to colour in the bars. If price is trending and its broken through the zones then they will get either a positive or negative colour, however if price hasn't broken through the zones or isn't likely to be trending it will be in a out of bounds colour.

Two Colours is fourth on the list and it utilises the signals provided to colour in the bars, therefore only two colours will be displayed when using this mode.

Change Based is fifth on the list and it utilises candlestick data and rate of change to colour in the bars. If the change continues to be positive and we are in a buying uptrend then price will be coloured in positive. If the opposite happens price will be coloured in negative. If the change declines/inclines from the opposing trend then we will be in out of bounds.

Bar Colour Offset

This input field will change the strength of the bar colouring methods available. This will impact the following modules: Pivot-Based, Cloud-Based, SR-Based and Change-Based.

Increasing this value may make the out of bounds colour more present in most situations to try and filter out bad trading areas.

Decreasing this value may make the out of bounds colour appear less in most situations to allow users to see positive and negative colours more often.

Positive

This input field is a colour input that is currently set to a bright green. This can be changed to customise all of the algorithm's features colours that are set to the positive colour.

Negative

This input field is a colour input that is currently set to a bright red. This can be changed to customise all of the algorithm's features colours that are set to the negative colour.

Ranging / Out of Bounds

This input field is a colour input that is currently set to a dark purple. This can be changed to customise all of the algorithm's features colours that are set to the ranging colour.