Just curious if it would be difficult to create a raindrop candlestick chart? Has anyone tried this?
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Hello Renorail,
I am not aware of an existing chart style like with that name however if any other members know of a specific item they will post it here. If you were interested in creating that type yourself I would suggest looking at the ChartStyles in the NinjaScript editor. A ChartStyle is how you can make charts that have custom rendered bars.
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Raindrop charts depict the volume profiles for the first and second half of each interval. The VWAP (volume-weighted average price) is usually shown using a horizontal line. Like this, we get a clearer picture of where most of the volume was trading and in what direction the market was moving. An example is provided below. I can create these charts in python, but wondered if there was a way to adjust a bar width based on volume profile in ninjatrader.
https://medium.com/@lucasjamar47/rai...s-d0a24f7cd090
Last edited by Renorail; 11-16-2023, 11:56 AM.Comment
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