Displacement Candle PaintBar
Displacement Candle PaintBar adds an unmissable visual layer to your chart by coloring the entire price bar when a displacement candle is detected. Cyan bars signal bullish displacements — large bullish body exceeding both the ATR and ratio thresholds. Magenta bars signal bearish displacements — large bearish body with the same dual qualification. Non-displacement bars retain their normal candlestick colors.
- ●Cyan-colored bars mark bullish displacement candles — institutional buying with a large committed body
- ●Magenta-colored bars mark bearish displacement candles — institutional selling with a large committed body
- ●BullDispColor and BearDispColor inputs let you customize the highlight colors to match your chart theme
- ●Optional AlertOnDisplacement fires an audio alert when a displacement candle is detected
- ●Uses the same dual-qualified detection engine — both MinBodyATR and MinBodyRatio must be met
- ●Non-displacement bars retain their default chart appearance for zero visual noise
The PaintBar is the fastest way to spot institutional impulse candles on your chart. When you see a cyan or magenta bar, you know a displacement just occurred without reading any metrics. This makes it especially valuable during fast market conditions when you need to identify institutional moves instantly across multiple chart windows.
All signals are guaranteed non-repainting. Once a bar is colored on close, the color will never change.
30-Day Money-Back Guarantee
Try it risk-free. Not satisfied? Full refund, no questions asked.
Part of the Displacement Candle Bundle
Get all 4 study types for $65 — save $30
Who This Is For
Displacement Candle PaintBar is designed as a visual confirmation layer that works alongside the chart indicator and ShowMe study. Use it when you want the fastest possible recognition of institutional impulse candles — colored bars are impossible to miss.
Apply it to the same chart as the Displacement Candle chart indicator. The zones show you where pullback levels are, and the painted bars show you which candles created those zones. Add the ShowMe study for detailed body metrics at each displacement.
Particularly effective on 1-minute to 5-minute charts during the opening hour when institutional order flow is heaviest. The color contrast between cyan/magenta displacement bars and normal candlestick colors makes institutional moves visible even when monitoring multiple charts simultaneously.
See It in Action
Example chart showing Displacement Candle PaintBar on a live trading session
Installation Guide
Step 1: Download the indicator file
After purchasing, you will receive a download link via email. Click the link and save the displacement-candle-paintbar.eld file to your computer. Save it somewhere easy to find like your Desktop or Downloads folder.
Step 2: Open the Import Wizard
Open TradeStation. Click the File menu in the top-left corner, then select Import/Export EasyLanguage to launch the Import/Export Wizard.
Step 3: Select the import type
In the Import/Export Wizard, select "Import EasyLanguage file (ELD, ELS or ELA)" from the list. Click Next to continue.
Step 4: Browse for the file
Click the Browse button to open a file browser where you can locate your downloaded .ELD file.
Step 5: Select and open the file
Navigate to the folder where you saved the .ELD file. Select displacement-candle-paintbar.eld and click Open. The file name shown may differ from the screenshot — look for your downloaded indicator file.
Step 6: Open the Studies menu
On your chart, click the Studies dropdown in the toolbar and select Add Study.
Step 7: Select the PaintBar study
In the Add Studies dialog, click the PaintBar tab on the left side. Find "!IndHub-PB_Displacement_v1" in the list, select it, and click OK to apply.
Step 8: Configure settings (optional)
Right-click anywhere on the chart, go to Studies > Edit Studies..., select the study, and click the Inputs tab. Key inputs: BullDispColor (default Cyan) and BearDispColor (default Magenta) control the bar colors. Detection settings (MinBodyATR, MinBodyRatio, RequireVolSpike) control which bars qualify as displacements. AlertOnDisplacement toggles audio alerts.
Common Issues
I do not see any colored bars on my chart. The indicator is applied but nothing is painted.
The PaintBar only colors bars that meet both displacement thresholds simultaneously. If the market is choppy or indecisive, no candles may qualify. This is normal — displacement candles are rare by design. Try lowering MinBodyATR to 1.2 or MinBodyRatio to 0.6 for more signals, or check during the first hour of trading when institutional order flow is strongest.
Can I change the displacement colors?
Yes. To change colors, right-click anywhere on the chart, go to Studies > Edit Studies..., select the indicator, click the Inputs tab, and change BullDispColor and BearDispColor to any TradeStation color name or RGB values. The defaults of Cyan and Magenta are chosen for maximum contrast against standard candlestick colors on dark chart backgrounds.
The colored bars look the same as my regular candlestick body colors. How do I fix this?
Change the BullDispColor and BearDispColor to colors that are distinctly different from your chart's up/down candle colors. If your chart uses green and red candles, try Cyan and Magenta (the defaults). If your chart already uses cyan, try Yellow and White instead. The key is contrast — displacement bars should stand out immediately.
For additional help, contact support.