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

#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

Wrong Candle colour shown?
Is this kite chart correct?
#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).

2 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.