CandleTrend: A Six-Timeframe Direction Display Indicator
Summary
CandleTrend is a visual indicator that summarizes price direction across six horizons: four intraday or multi-hour intervals, plus daily, weekly, and monthly views. It marks rising direction in green and falling direction in red, with a neutral color available for periods without change. The described inputs control colors, font, and where the display appears on the chart.
The document explains how the indicator presents multi-timeframe trend information, but it does not define the underlying calculation, specify what qualifies as an uptrend or downtrend, or provide trading rules. It also gives no backtest or evidence that the display improves decisions. As a result, it is best understood as a charting aid whose signals require independent interpretation and validation. The accompanying library installation note indicates a platform dependency, but does not affect the indicator’s stated analytical purpose.
Key ideas
- The indicator displays price direction across six timeframes from H4 to monthly.
- Green and red squares represent rising and falling direction, with gray available for no change.
- Color, font, and chart-corner placement can be configured.
- The document does not explain the trend calculation or provide performance evidence.
- The display is a visual aid rather than a complete trading strategy.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.