Color Candlesticks by CCI, RSI, Stochastic, Cycle, or Directional Index

Summary

This indicator maps the value of a selected oscillator to the colors of price candles, placing the oscillator reading directly on the price chart. The available choices are the Commodity Channel Index, Relative Strength Index, Stochastic, Cycle, and Directional Index. Users can select a measure, adjust its lookback settings, and choose whether to offset the colored candles slightly so the original candles remain visible.

The document includes implementation settings and logic for converting each indicator value into red and green color components. It provides no trading rules, performance results, or guidance on interpreting the resulting colors as entry or exit signals. The display can make oscillator states easier to see alongside price, but its value depends on the chosen indicator and parameters; it should be treated as a visualization tool rather than evidence of a profitable strategy.

Key ideas

• The indicator colors candles according to one selected oscillator reading.
• Supported measures include CCI, RSI, Stochastic, Cycle, and Directional Index.
• A candle offset option allows the colored display to sit beside the original price candles.
• The document explains the visualization but gives no trading rules or performance evidence.

Tags

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