Some candlesticks have a strong tendency to continue the movement, or to reverse it. With the help of the Colored candles indicator, such candles are clearly
visible. This indicator calculates the parameters of each candle, as well as its volume, and then colors the candles depending on its strength and
direction. The bullish candle is colored green and the bearish is red. The greater the strength of the bulls or bears, the brighter the color. If
desired, the colors can be changed.
The indicator works on any currency pair and timeframe. It helps to analyze the price movement, as well as the moments of entering a trade. More accurate
signals are formed on large timeframes. It is possible and desirable to use it together with other Metatrader indicators.
- History – the number of candles in the history for analysis and coloring;
- Minimum length candle – the minimum length of the analyzed candle;
- PeriodADX – period of the ADX indicator;
- ADX and high-low relation-dependence of the ADX indicator and the minimum candle length;
- CountCandlesVolume – the number of candles to compare the volume (if 0 is specified, the volume of the candle is not analyzed);
- VeryStrongSignalAlert – when enabled, alerts will be displayed if the last closed candle is very strong;
- ColorBuy1 – color of weak bullish candlesticks;
- ColorBuy2 – the color of medium-strength bullish candlesticks;
- ColorBuy3 – color of strong bullish candlesticks;
- ColorBuy4 – the color of the strongest bullish candlesticks;
- ColorSell1 – color of weak bearish candlesticks;
- ColorSell2 – the color of medium-strength bearish candlesticks;
- ColorSell3 – color of strong bearish candlesticks;
- ColorSell4 – the color of the strongest bearish candlesticks;
- CandlesWidth – the thickness of the color of the candles.