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Color Candles Identify the Major Trend

The indicator includes two parts.

Part I: Color Candles Show the Major Trend

Color candles is to identify the market state by color candlesticks.

As shown in the screenshots, if the color is Aqua, the market is in a state when you should place long orders or exit short orders. If the color is Tomato, it is the time to place short orders or exit long orders.

If the color is changing, it is better to wait for its completion (until the current bar is closed).

Part II: Draw bands

The inner bands is defined as safe area, and the outer bands is for close orders.

Trading strategy as below:

  • if the color is Aqua, and price is in the inner bands ,place a long order , when price cross outer bands, it is time to close order.
  • if the color is Tomato, and price is in the inner bands,place a short order ,when price cross outer bands, it is time to close order.
Note: only entry market when price in the inner bands.this is very important.


Input Parameters

  • ShowColorCandle - true means indicator draw color candle.
  • AlertColorChange - true means there will be alert when the color change is finished.
  • EmailColorChange - true means there will be email when the color change is finished.
  • ShowBands - true means indicator draw the bands
  • AlertCrossOuterBands - true menns there will be alert when price cross the outer bands
  • AlertCrossOuttrBands - true means there will be email when price cross the outer bands.

Please note I do not claim that this is a perfect indicator.

Losses or wins depend on how you use it.

Comentarios 1
Edgar Duttweiler
639
Edgar Duttweiler 2018.08.21 14:47 
 

For my strategy a great EA-indicator !!!!

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Indicador Taurus All4   Taurus All4 O Taurus All4 é um indicador de alto desempenho, que indica a força da tendência e você pode observar a força da vela. Nosso indicador tem mais de 4 confirmações de tendência. É muito simples e fácil de usar. Modos de confirmação Confirmações de tendências de velas: Quando a vela muda para verde claro, a tendência é alta. Quando a vela muda para vermelho, a tendência está voltando para baixo. Quando a vela muda para vermelho escuro, a tendência é baixa.
200 USD
BW Dance
BW Dance
Andrey Dyachenko
BW Dance - Bill Williams Trading Chaos Signal MTF Indicator for MetaTrader 5 !!! This indicator is not a trading system !!! This is only a convenient tool for receiving signals of the Bill Williams trading system in visual and sound mode The main idea of ​​the indicator: display current signals of the BW system on the right edge of the chart, according to the principle HERE and NOW output signals in three ways: next to the price scale under / above price bottom of the chart - opposite
89 USD
Strong Trends With Magic Entries MT5
Strong Trends With Magic Entries MT5
FXsolutions
With this system you can spot high-probability trades in direction of strong trends. You can profit from stop hunt moves initiated by the smart money! Important Information How you can maximize the potential of the scanner, please read here: www.mql5.com/en/blogs/post/718109 Please read also the blog about the usage of the indicator: Professional Trading With Strong Momentum. With this system you have 3 reliable edges on your side: A strong trend (=high probability of continuation) A deep pu
59 USD
Naked Forex Kangaroo Tail for MT5
Naked Forex Kangaroo Tail for MT5
Renaud Candel
Kangaroo Tail Indicator is a pattern recognition indicator for Forex, Stocks, Indices, Commodities, Metals, Cryptos. The Kangaroo Tail is a simple and very effective pattern to trade. The strategy that comes with the Kangaroo Tail is purely based on price action. Inputs : CandleSizeATR: filter signals depending on the size of candle (0.5 to 1.5 recommended range of values) TradeDirection (Long/Short/LongAndShort): filter signals for BUY and SELL Distance: distance in pixel relative to top or bot
147 USD
All Harmonics 26
All Harmonics 26
Alexey Isavnin
Harmonic patterns are characteristic series of price movements with respect to Fibonacci levels, which statistically precede price reversals. This indicator searches for harmonic patterns. It is capable of recognising 26 classical and non-classical harmonic patterns : Classical Gartley Butterfly Alternate Butterfly Bat Alternate Bat Crab Deep Crab Three Drives Non-classical Shark Alternate Shark Cypher 5-0 Anti Gartley Anti Butterfly Anti Alternate Butterfly Anti Bat Anti Alternate Bat Anti Crab
90 USD
Advanced Supply Demand MT5
Advanced Supply Demand MT5
Bernhard Schweigert
Best Solution for any Newbie or Expert Trader! This indicator is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a new formula. With this update, you will be able to  show double timeframe zones . You will not only be able to show a higher timeframe but to show both, the chart TF, PLUS the higher TF:  SHOWING NESTED ZONES . All Supply Demand traders will love it. :) Important Information Revealed Maximize the potential
128 USD
Advanced Price Pattern Scanner MT5
Advanced Price Pattern Scanner MT5
Young Ho Seo
Introduction Advanced Price Pattern Scanner is the pattern scanner built upon our accumulative knowledge and insight from our financial market research many years. Advanced Price Pattern Scanner uses highly sophisticated pattern detection algorithm. However, we have designed it in the easy to use and intuitive manner. Advanced Price Pattern Scanner will show all the patterns in your chart in the most efficient format for your trading. Detectable Patterns Following pattern can be detected. Tri
180 USD
Ultimate Double Top Bottom Scanner MT5
Ultimate Double Top Bottom Scanner MT5
FXsolutions
This indicator scans for you up to 15 trading instruments and up to 21 time frames for occurrences of the high probability reversal patterns: Double Tops/Bottoms with fake breakouts . What this indicator detects: This indicator detects a special form of Double Tops and Bottoms, so called Double Tops/Bottoms with fake breakouts . For double tops with fake breakouts the highest price of the right shoulder must be higher than the left shoulder. For double bottoms with fake breakouts the lowest pric
119 USD
Otros productos de este autor
Multi Pairs Trading
Multi Pairs Trading
Ziheng Zhuang
This Expert Advisor is an One-click trading panel for multi pairs. Click OPEN button to open orders for the selected pairs. Click CLOSE button to close orders for the selected pairs. The lots of order is the number entered by users.The positive number is for buy order and the negative is for sell order. Click  CLOSE  button is to close the whole order ,instead of partial close.Close action has nothing to do with the number of lots. Set the input Magic to 0, the EA will help to close manual order
30 USD
Currency Relative Strength
Currency Relative Strength
Ziheng Zhuang
This indicator shows the relative strength of 8 major currencies: USD, EUR, GBP, AUD, NZD, CAD, CHF and JPY. The strength value is normalized to the range 0-100: The value above 60 means strong. The value below 40 means weak.  This indicator needs the data of all 28 paris and 9 timeframes. Use the EA Downloadhistory28&9 to download data automatically. --> https://www.mql5.com/en/blogs/post/728216 Reference for calling it in EA :  https://www.mql5.com/en/blogs/post/730961 Inputs  (full scre
60 USD
Color Candles Show the Trend Change
Color Candles Show the Trend Change
Ziheng Zhuang
The indicator includes two parts. Part I: Color Candles Show the Major Trend Color candles is to identify the market state by color candlesticks. As shown in the screenshots, if the color is Aqua, the market is in a state when you should place long orders or exit short orders. If the color is Tomato, it is the time to place short orders or exit long orders. If the color is changing, it is better to wait for its completion (until the current bar is closed). Part II: Draw bands The inner bands is
50 USD
OrderManager Pro
OrderManager Pro
Ziheng Zhuang
This Expert Advisor is designed to manage orders. It offers the following functions: Set a stop loss for an order having none. Set a take profit for an order having none. Close the last order if the total orders of a symbol are over the setting. Close the order if its lots are over the setting. Close the order if its profit in pips is over the setting. Close the order if its loss in pips is over the setting. Close the order if its profit in amount is over the setting. Close the order if its loss
FREE
Gamma Bands
Gamma Bands
Ziheng Zhuang
This indcator shows the trend with the color histogram. It is simple and easy to use. Usage: If the histogram changed from the aqua to the fuchsia, which means the trend is up. If the histogram changed from the fuchsia to the aqua,which means the trend is down. Inputs: MaPeriods: the periods of moving average. f1: the multiplier of inner bands f2: the multiplier of outer bands
FREE
Gamma Bands MT5
Gamma Bands MT5
Ziheng Zhuang
Gamma Bands   This indcator shows the trend with the color histogram. It is simple and easy to use. Usage: If the histogram changed from the aqua to the fuchsia, which means the trend is up. If the histogram changed from the fuchsia to the aqua,which means the trend is down. Inputs: MaPeriods: the periods of moving average. f1: the multiplier of inner bands f2: the multiplier of outer bands
FREE
Beta Bands
Beta Bands
Ziheng Zhuang
This indicator shows main trend, entry zone and exit zone. This is a muti-timeframe indicator, so it is always repainting in the current period of the higher timeframe. Basic Principle Combines the algorithm of MACD and ATR to determine the trend direction and range. Features Colorful Histogram: it indicates the main trend, the tomato means the market is bearish,and the sky blue means the market is bullish. Inner Blue Bands: it is entry zone for entry market, the market is relatively safe fo
FREE
Quick Panel Pro Netting
Quick Panel Pro Netting
Ziheng Zhuang
Note: This EA only works on Netting account. The MetaTrader 4 version Quick Panel Pro This Expert Advisor is a professional trading tool, which integrates a flexible risk control and one group of trading panel. Features Calculating lots is easy and fast ,when you move the StopLine, the calculation is processed at the same time. Most trading operations can be quickly made by clicking the button on these panels. Changing panels is quick just by clicking the green button. EA can run on visual ch
FREE
Account Export
Account Export
Ziheng Zhuang
This is a MetaTrader 4 script. It helps to export all trades into a CSV file as per Symbol and selected periods. Input Select Symbol: This is 2-option input. Select current symbol or all symbols to export its orders. Select Period: This is 7-option input. It includes Last Month, This Month, Last Week, This Week, Today, All History, and Date Specified. Specify Starting Date: Enter a date if you selected Date Specified in "Select Period" input. Specify Ending Date: Enter a date if you selected D
FREE
Slippage Monitor
Slippage Monitor
Ziheng Zhuang
This EA is designed to monitor the slippage of opening and closing orders, and save the records in files. It is useful to record the slippage and evaluate brokers. The record files are saved in the folder  MT4_Data_Folder\MQL4\Files.  Go to "File " --> "Open Data Folder" . Warning : Do NOT open the files directly, otherwise it will affect the exectution of EA, just copy them to another folder and open them. Usage: Open a chart and load the EA on it, just need only one EA to run, it monitors al
FREE
Account Summary MT5
Account Summary MT5
Ziheng Zhuang
This is a MetaTrader 5 script. It helps to summarize all trades into every symbol. Input Select Period: This is 7-option input. It includes Last Month, This Month, Last Week, This Week, Today, All History, and Date Specified. Specify Starting Date: Enter a date if you selected Date Specified in "Select Period" input. Specify Ending Date: Enter a date if you selected Date Specified in "Select Period" input. The summary is saved into a file in MQL5\Files folder.
FREE
Account Summary
Account Summary
Ziheng Zhuang
This is a MetaTrader 4 script. It helps to summarize all trades into every symbol. Input Select Period: This is 7-option input. It includes Last Month, This Month, Last Week, This Week, Today, All History, and Date Specified. Specify Starting Date: Enter a date if you selected Date Specified in "Select Period" input. Specify Ending Date: Enter a date if you selected Date Specified in "Select Period" input. The summary is saved into a file in MQL4\Files folder. Also, there is pop-up window for
FREE
Cross Trend Line to Trade
Cross Trend Line to Trade
Ziheng Zhuang
This Expert Advisor opens or closes orders when the price is crossing the specified trend line (or horizontal line). For example, you draw a trendline and name it "B1". When the price is crossing the trendline, the EA will open a buy order. The name "B1" is built-in EA, you cannot use other letters. Panel Green: change the panel Violet: change the line type (trend or horizontal) Del: delete lines X: close the panel Built-In Names The built-in names are used to open and close orders. All built-
50 USD
Quick Panel
Quick Panel
Ziheng Zhuang
This panel is an Expert Advisor, which provides six groups of trading panel. Features Most trading operations can be quickly made by clicking the button on these panels. Changing panels is quick just by clicking the green button. The EA can run on visual chart on the strategy tester, which provides an easy method to practice trading on history data. (It is free for just testing on the strategy tester,you can use this feature to do training or review your strategy --- IT IS FREE) Panel The pa
30 USD
Quick Panel Pro
Quick Panel Pro
Ziheng Zhuang
This Expert Advisor is a professional trading tool, which integrates a flexible risk control and six groups of trading panels. Features Calculating lots is easy and fast: move the StopLine, the calculation is processed immediately Most trading operations can be quickly made by clicking the button on these panels. Changing panels is quick just by clicking the green button. The EA can run on the strategy tester, use this feature to do training or review your strategy.(It is free,try it). Panel The
50 USD
Alpha Bands
Alpha Bands
Ziheng Zhuang
This indicator shows the main trend on the current chart. Features This indicator includes two bands, one is the inner white bands, another is the outer blue bands. If the white dotted line crosses down the white solid line, this means that the trend has changed to be bearish. If the white dotted line crosses up the white solid line, this means that the trend has changed to be bullish. Once the crossing happened, it will not repaint. Settings ShowColorCandle: if 'true', it will show the colo
99 USD
Currency Relative Strength Digit
Currency Relative Strength Digit
Ziheng Zhuang
This indicator shows the relative strength of 8 major currencies: USD, EUR, GBP, AUD, NZD, CAD, CHF and JPY. The strength value is normalized to the range 0-100: The value above 60 means strong. The value below 40 means weak. Note: This indicator does not show strength lines, it just shows the digital result on chart. Another version with strength lines: Currency Relative Strength Inputs BarsToCalculate - Number of bars to calculate strength. MaPeriodsToSmoothLines - Moving Average periods f
30 USD
Pair Power Matrix
Pair Power Matrix
Ziheng Zhuang
This indicator is designed to show the pair power of the major 28 paris with RSI,Stochostic,and CCI. The power value is sorted from the weak to the strong. Users can add another symbol, so it can calculate 28+1 symbols. My advice: https://www.mql5.com/en/blogs/post/729880 A free EA with Pair Power Matrix  ---  https://www.mql5.com/en/blogs/post/732894 Inputs: Forex Suffix -- the suffix of the major 28 forex symbols Additional Symbol Settings Additional Symbol(without suffix)  -- set the add
30 USD
Quick Panel Pro Hedging
Quick Panel Pro Hedging
Ziheng Zhuang
Note: This EA only works on Hedging account. The MetaTrader 4 version Quick Panel Pro This Expert Advisor is a professional trading tool, which integrates a flexible risk control and 6 groups of trading panel. Features Calculating lots is easy and fast, when you move the StopLine, the calculation is processed at the same time. Most trading operations can be quickly made by clicking the button on these panels. Changing panels is quick just by clicking the green button. EA can run on visual char
30 USD
Quick Panel Hedging
Quick Panel Hedging
Ziheng Zhuang
Note: This EA only works on Hedging account. The MetaTrader 4 version Quick Panel This Panel is an Expert Advisor, which provides six groups of trading panel. Features Most trading operations can be quickly made by clicking the button on these panels. Changing panels is quick just by clicking the green button. Panel The panel includes two columns. The left column is about sell and the right is about buy. sell: open a sell order. first: close the first sell order. The first refers to Open Ti
30 USD
Filtro:
Edgar Duttweiler
639
Edgar Duttweiler 2018.08.21 14:47 
 

For my strategy a great EA-indicator !!!!

Respuesta al comentario
Versión 4.20 2020.03.23
Nothing changed. Recompile with the latest compiler as request from MQL5 community.
This version will increase the performance.
Versión 4.10 2016.10.18
The old v4.0 has a repaint bug,this repaint bug is also found in the MT4 indicator.
MT4 indicator has been modified, the MT5 indicator also need to be modified.
The new v 4.1 has no repaint bug.
Sorry for this trouble.
Versión 4.0 2016.10.05
Add a bands to this indicator.
Now the new version 4.0 is the same as my MT4 indicator. https://www.mql5.com/en/market/product/10455
Thank you!
Versión 3.0 2015.07.06
Added alert and email function