Formula 201 – #14 Color Formula

We have been talking about the spectacular performance of various stock market indices during May in our office. I then suggested that as far as my memory goes, the month of May in general goes sideway and what we just witnessed is something very unusual. Since it is hard to just talk about history without an actual picture of what I meant, I have produced a chart that highlights the month of May every year to illustrate my point.

Chart Setup

1. Add daily data ^DJI to the chart. Data source is set to Internet EOD.

2. Add monthly data ^DJI to the chart. Change it to Box style and enable the Hollow option.

3. For the monthly data series, enable Color Formula and then enter the following formula,

if (month (date) = 5, UpColor, DownColor)

The Result

Color Formula Example

With the coloring, I can browse through the chart quickly and see how the month of May behave historically without writing custom indicator to collect specific statistics. Scrolling through the chart, we can indeed see that May 2007 is very different comparing to the other months of May over the past 20 years.

There are a number of color formulas pre-installed into NeoTicker. Try them out to see what color formulas can do.

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