Indicators: Decision Colored Candles - MT5

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Decision Colored Candles - MT5:

higher confidence to get into trade

Decision Colored Candles - MT5

Author: Mohamed Hassan Mohamed Hassan Alsherbiny

 
Interesting submission, great idea and simplicity
 
Conor Mcnamara #:
Interesting submission, great idea and simplicity

great ideas for great people to do their great works

best of luck

 
I'm confused. What is this supposed to do? Like how do I use it? How does it help with analysis? 
 
helgardw #:
I'm confused. What is this supposed to do? Like how do I use it? How does it help with analysis? 

decision candle have decisive implication , ex. Doji bar is not decision candle but called indecision candlestick , that you can not take any decision until you check the next 1 or 2 or 3 candles;

as well we cannot assure trading direction based on successive pin bars ;

decision candle classified by the percentage of body to candle range that is (close - open ) / (high - low ) % to be higher than 50% as you can find at input setup

therefore coloring decision candles will ease finding them 

best of luck and happy trading

 
helgardw #:
I'm confused. What is this supposed to do? Like how do I use it? How does it help with analysis? 

my own interpretation:

blue candles = bull power

orange candles = bear power

white candles = doji indecision candles and market consolidation (avoid trading)

black candles = news impact and lacking clear direction

 
Conor Mcnamara #:

my own interpretation:

blue candles = bull power

orange candles = bear power

white candles = doji indecision candles and market consolidation (avoid trading)

black candles = news impact and lacking clear direction

just small addition to imply of each , as per the attached code:

blue candles = bull power (decision candle)

orange candles = bear power  (decision candle)

white and black candles colors set by chart properties for bullish and bearish candles colors , so :

white candles = doji indecision candles and market consolidation (avoid trading) - indecision candle may come out as doji , pin bar, or any candle which body is less than 50% of candle range (bullish candle) 

white candles = doji indecision candles and market consolidation (avoid trading) - indecision candle may come out as doji , pin bar, or any candle which body is less than 50% of candle range (bearish candle) 

 
I was looking for code like this, I specifically wanted to understand how to colour candles bodies and wicks in mql4. this works great in mql5 but how do I get it to colour candles in mql4?
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