The indicator changes the bar color to the color of the current trend calculated based on the RSI technical indicator.
If the trend and candlestick direction match, the color of the bar is light, if opposite, the bar is dark.
Trend strength is determined by the presence of the RSI indicator in overbought or oversold areas whose levels are determined by the indicator input parameters:
input uint HighLevel=55; // Overbought level input uint LowLevel=45; // Oversold level
If the RSI is outside these areas, the bar is not painted.
Figure 1. The RSI_BARS indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/2122
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.