The indicator displays the price gaps of the candlestick chart of the ColorBullsCandle. Such gaps often anticipate the continuation of a short-term trend of the price movement. It should be noted that a new bar of this indicator's histogram appears when fully formed bars change and is ready for the analysis right after it appears.
The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Figure 1. The ColorBullsGap indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/14318
Trading system based on the signals of the ColorBulls indicator.Exp_ColorBears
Trading system based on the signals of the ColorBears indicator.