RGBars stands for Red Green Bars. It is what I call a tool indicator. Green indicates the value increased. Red indicates the value decreased. You use RGBars to help you quickly observe changes of the selected input data series. Assume for illustration purposes there is a trading technique that involves knowing the slope of the EMA50 and you only go short if the EMA50's slope is downward or long if it's upward. You could look for a color changing EMA indicator or you could use RGBars with EMA50 defined as the input series. The example image shows the RGBars using the EMA50 as well as the EMA50 on the price chart. Notice the bars are Green as the EMA50 is rising and the bars turn Red when the EMA50 changes slope downward.

Any of the available Ninja indicators within your system can be used as the input to the RGBars tool indicator. The default returned value of the indicator is used in the comparison.

After you install RGBars, add it to a chart, but before you "Apply "and select "OK", change the input data series from the default Close value (although you can keep it as is to illustrate the Close up down pattern). To change the input series, click on the "Input Series" name in the indicator popup dialog. Doing so will highlight the "Input Series" name and will cause a box with three dots (…) in it to appear on the right hand side. Click on this (…) box. Notice when you click on this you will see a "+" infront of the word "Indicators", click on this "+" to see the expanded listing of all the available indicators in your system. In my example I then selected the EMA and filled in it's parameters, changing the default 14 period to 50 (the selected indicators parameters appear on the bottom of the display). I then pressed "OK" to shut down the input series popup. Now the Input Series will show the EMA 50 in it's value. At this point I then select "OK" to add the RGBars indicator to the chart, using the EMA 50 as the input series.

NOTE: You can use this input series technique with numerous indicators ‐ not just RGBars.

Enjoy…

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