MA Candles Two Colors 2.0: Also available for MetaTrader 5
This indicator draws different colored candles above and below a Moving Average (MA) line.
Supported MA methods:
The indicator includes all standard parameters of MA: Period, Shift, Method and Price.
* Triangular MA indicator is included — see attached download files.
The user is required to ensure that all Inputs Variables and Value parameters (MA Period, Shift, Method and Price) on both the present Indicator and the user provided Moving Average match each other exactly.
The default parameters for MA1 are: Period = 1, Shift = 0, Method = 0 (SMA), Price = 0 (Close). This is the equivalent of having the color candles change color on price close above or below MA2.
The default method for MA2 is EMA.
Note: MAs to be supplied by user and not part of Indicator.
Candle Accuracy: Although the standard chart price graphic is hidden it is not disabled and Open, High, Low and Close prices are available in MetaTrader 4 Data Window (press Ctrl+D or View → Data Window). Accuracy of the Indicators Open, High, Low and Close can be checked against Open, High, Low and Close in MetaTrader 4 Data Window. When cross-referencing the cursor point must be on the relevant colored candle:
Interpretation of the Data Windows:
The indicator candle H, L, O and C are listed in Columns R up, R dn, Bu and B dn (Red up candle, Red down, Blue up candle, Blue down candle).
The hidden candle open is greater than the close so the candle is a down candle. The indicator Red down candle in column 2 corresponds to the hidden down candle.
All Inputs parameters and options can be changed and will save automatically. If after changing Inputs or Color parameters a Reset is used the Color Candles will display as Bars. To revert to Color Candles switch to a different timeframe and then back.Input and Parameters:
The Acceleration/Deceleration Indicator (AC) measures acceleration and deceleration of the current driving force.Average Directional Movement Index (ADX)
The Average Directional Movement Index Indicator (ADX) helps to determine if there is a price trend.