Why does the color bar chart and volume bars show wrong color sometimes?

Zerodha Zerodha platforms
1

On a 15 min color bar chart (also volume bars at the bottom of the chart) sometimes if the open price is greater than close price it produces a green bar and vice versa. But shouldn’t this be like a candle chart. In a candle chart it is green if close > open of candle and Red if Close<open

2

Like you said, in a candle stick chart color of a candle is green if Close>open of a candle and red if Close<open.

Colored bar chart and volume candles don’t work on the same logic to determine its color on Kite charts. If the close of the current candle > close of previous candle is it is green and Close of current candle < close of previous candle it is red.

Most of the times the candle stick chart color will match to colored bar or volume bar color. But once in a while it doesn’t. Check the chart below. Since Close < open, if it was a candle, it would be red. But since close > close of previous candle, both the volume candle at the bottom is green in color. (Same would be the logic for a colored bar chart).

image.png991×797 88.9 KB

4 Likes
3

Yes, but that’s not a healthy way to analyze with chart.
Example:

I bought NitinSpinners at the gap-up candle, but kite bar chart will show it green even when there is selloff.

Creating confusion is not the aim of chart. (TradingView bar chart are normal not like Kite)

I kept holding thinking its green so buyer confidence but when I switch to
Candle chart there is big red bar and that’s what chart suppose to show at one glance.

4

Dear Sir,

Does displaying colour on the Volume studies Chart solve any purpose if we are missing anything?

Kind Regards,
Rahul

5

It indicates the trend as compared to the previous candle. Whereas the price candle has no co-relation with the previous candle.

6

Volume chart indicates traded volume or delivery volume?

7

It is traded volume.

8

Anyway to get analysis of delivery volume?

9

All the data can be found on NSE website, check out file called “Full Bhavcopy and Security Deliverable Data”.

10

thanks

11

Screen Shot 2021-06-03 at 12.07.09 PM
but But since close < close of previous candle, the volume candle at the bottom is still RED in color.

12

Below article needs correction. It says price candle colour is dependent on previous close and volume on current close, opposite of what you said.