Coloring Candles by Direction Within the Ozymandias Channel
Summary
The document describes a candlestick indicator that colors candles extending beyond the Ozymandias channel. The colors distinguish candles that align with the indicated trend from those that move against it: trend-aligned candles receive a brighter shade, while countertrend candles receive a darker shade. This provides a visual way to classify channel excursions by their relationship to the trend.
The description does not explain how the channel itself is calculated, define the trend criteria, or specify how a trader should act on either color. It presents no entry or exit rules, backtest, or other performance evidence. As a result, the indicator offers a visual classification of candles beyond the channel, but its use as a trading signal and its reliability cannot be assessed from the information provided.
Key ideas
- Candles that extend beyond the Ozymandias channel are colored according to their relation to the trend.
- Trend-aligned candles use brighter coloring than countertrend candles.
- The description does not specify the channel calculation or trend criteria.
- No trading rules or performance evidence are given.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.