B. Williams Candlestick Colors for Trend and Candle Direction

Summary

This indicator colors each candlestick by combining two classifications: the prevailing trend and whether the candle is rising or falling. It uses aqua and blue for rising and falling candles in an uptrend, green and red when there is no trend, and purple and magenta for rising and falling candles in a downtrend. The colors provide a visual way to distinguish these conditions on a chart.

The document identifies the indicator as an implementation of a B. Williams approach and says it was originally written in MQL4 and published in 2008. It gives no definition of how trend is calculated, no trading rules, and no performance evidence. The colors should therefore be treated as a chart-reading aid; the document alone does not establish that they predict price changes or support a profitable strategy.

Key ideas

• The indicator maps candle direction and trend state to six distinct colors.
• Aqua and blue mark rising and falling candles in an uptrend.
• Green and red represent rising and falling candles when there is no trend.
• Purple and magenta represent rising and falling candles in a downtrend.
• The description provides no trend calculation, trading rules, or results.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.