Paints price bars green when AO+AC are both green, paints bars red when both are red, and paints bars grey when both are different. (IGNORE THE CHART DIDNT MEAN TO PUBLISH IT ON THIS CHART.. OPPS)
⚠️LIKE AND FOLLOW⚠️
//HUGE THANKS TO CHAOSTRADER FOR THE ORIGINAL CODE //Bill Williams Zone and Squat Bars. See New Trading Dimensions by Bill Williams, PhD. //Bars are green (green zone) when the Awesome Oscillator and Accelerater/Decelerator are both positive. //Bars are red (red zone) when the Awesome Oscillator and Accelerater/Decelerator are both negative. //Bars are blue when a squat bar is formed, these indicate a battle between bulls and bears and often happen near trend continuation or trend changes. //Caution: Assumes chart is a bar chart - not a candle chart. //Caution: Squat bars are accurate only with official exchange volume data - BATS data will give false squat bars. study(title="AO/AC Zones", overlay = true) ao = sma(hl2,5) - sma(hl2,34) ac = ao - sma( ao, 5 ) isGreen() => ao > ao[1] and ac > ac[1] isRed() => ao < ao[1] and ac < ac[1] isGrey() => ao > ao[1] and ac < ac[1] isGray() => ao < ao[1] and ac > ac[1] barcolor(isGrey() ? gray : isGray() ? gray : isGreen() ? #55AE3A : isRed() ? red : black)