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these indicator consists of two parts.

Part I: colour Candles shows the main trend

Color candles is designed to identify the country of the market by the color of the candles.

As you can see in the screenshots, if the pub is colored blue, the market is in a state where you need to buy or close short positions. If the bars are colored red, it’s time to market or close long positions.

If the color changes, you should wait until it is shaped (until the current pub closes).

Part II: Stripes

The inner bands are considered a safe zone, and the outer bands are intended for closing orders.

The trading strategy is shown below:

  • If the color of the bar is blue and the price is within the inner bands, open a buy order. When the price crosses the outer bands, it is time to close the order.
  • If the color of the bar is red and the price is within the inner bands, open a sell order. When the price crosses the outer bands, it is time to close the order.
Note: Enter the market only when the price is within the inner bands. This is very important.

  • ShowColorCandle – if true, the indicator will draw colored candlesticks.
  • AlertColorChange – if true, pop-up notifications will be sent after the color change is completed.
  • EmailColorChange – if true, messages will be sent to the email address after the color change is completed.
  • ShowBands – if true, the indicator will draw stripes.
  • AlertCrossOuterBands – if true, pop-up alerts will be sent when the price crosses the outer bands
  • AlertCrossOuttrBands – if true, email messages will be sent when the price crosses the outer bands
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Please note, I am not claiming that this is a perfect indicator.

Losses or gains depend on how you use it.

Our Useful Features & Services

Published

21 May 2013

Updated

23 March 2020

Current Version

4.20

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Edgar Duttweiler December 28, 2020 11:56 am
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For my approach a fantastic EA-indicator!!!!