Color Candles Show the Trend Change
This indicator consists of two parts.
Part I: Color Candles shows the main trend
Color candles used to identify the state of the market for color candles.
As you can see in the screenshots, if the bar is colored blue, the market is in a state where you have to buy and cover short positions. If the bars are colored red, the time to sell or to close long positions.
If the color changes, wait until it is formed (until you close the current bar).
Part II: Stripes
The inner bands are considered to be a safe area, and the outer bands are designed for closing orders.
Trading strategy is shown below:
- If the bar color is blue, and the price is within the inner bands, open a buy order. When the price crosses the outer bands, it's time to close the order.
- If the bar color is red, and the price is within the inner bands, open sell order. When the price crosses the outer bands, it's time to close the order.
Note: To enter the market only when the price is within the inner lanes. It is very important.
Input parameters
- ShowColorCandle - If true, the indicator will draw colored candles.
- BullColor -Aqua. Color for the bullish candle.
- BearColor- Tomato. Color for bearish candles.
- AlertColorChange - if true will be served popup alerts after the color change.
- EmailColorChange - If true, messages will be sent by email after the end of the color change.
- ShowBands - If true, the indicator will draw the strip.
- AlertCrossOuterBands - if true will be served pop-up notifications when the price crosses the outer bands
- AlertCrossOuttrBands - If true, messages will be sent by e-mail when the price crosses the outer strip
Notice I'm not saying that this is the perfect indicator.
Won or lost depending on how you use it.
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