The indicator implements a breakthrough system using the i-CAiChannel channel.
When price exits the gray channel, the bar color changes to the color corresponding to trend direction. Green for the growth of a financial asset, pink color - fall. Bright colors denote coincidence of trend direction and direction of a candlestick. Dark colors correspond to the situation when the direction of a candlestick is opposite to trend.
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".
Fig.1. The i-CAiChannel_System_Digit indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/16014
Parallel use of the MetaTrader 4 and MetaTrader 5 order systems.i-CAiChannel
The Envelopes indicator with the use of the i-CAi indicator algorithm.