AbsolutelyNoLagLWMA High-Low Channel and Candle Coloring
Summary
The indicator builds a price channel from two AbsolutelyNoLagLWMA averages, one calculated from high prices and the other from low prices. It uses the channel as a visual way to distinguish price movement beyond the upper or lower boundary from movement inside the channel. Candles outside the channel receive a color associated with the trend, while candles moving against that trend are shown in a darker shade.
The description explains the display convention but does not define entry or exit rules, specify the averaging formula or settings, or provide chart-based performance evidence. It therefore serves as a brief indicator overview rather than a complete trading system. Traders would need to determine how to interpret channel breaks, confirm signals, and manage risk, then evaluate those choices on relevant data before relying on the coloring.
Key ideas
- The channel uses separate AbsolutelyNoLagLWMA averages based on high and low price series.
- Candles beyond the channel are marked with a trend-related color.
- Candles moving with the trend appear brighter than candles moving against it.
- The description does not specify trading rules or report performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.