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Omega Scalping System Colored Candles

The indicator paints candles in the color of the probable direction of the current movement. Calculation of the direction is performed for the specified period. The initial data can be not only standard price values of candles, but also values calculated using moving averages (26 types), and also the Heiken Ashi prices.

The initial parameters are set for М15. I recommend using it together with my other Omega indicators.

Choose the periods and calculation methods carefully when using averaging of the initial data. Parameter for calculation of the upward and downward direction are separated to allow for a wider range of possibilities, but it is recommended to use identical values for each direction.

Attention! Not all combinations of parameters give correct results.


Parameters

  • Candles calculation period - total period for calculation of coloring
  • Up calc MA period - averaging period of the initial data for upward direction
  • Up calc smoothing mode - averaging method of the initial data for upward direction
  • Up calc used price - price for averaging of the initial data for upward direction
  • Down calc MA period - averaging period of the initial data for downward direction
  • Down calc smoothing mode - averaging method of the initial data for downward direction
  • Down calc used price - price for averaging of the initial data for downward direction
  • Low range MA period - averaging period for calculation of the lower border
  • Low range smoothing mode - averaging method for calculation of the lower border
  • Low range used price - price for averaging calculation of the lower border
  • High range MA period - averaging period for calculation of the upper border
  • High range smoothing mode - averaging method for calculation of the upper border
  • High range used price - price for averaging calculation of the upper border
  • Use equality compare - value comparison mode: true - ">=<", false "><"
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