Skip to content
All library documents

Displaying Higher-Timeframe Candles Colored by StepMA Stochastic Trend

Article MQL5 code base
Read the original

Summary

This MetaTrader indicator overlays candles from a larger timeframe as filled rectangles. It colors candle bodies and shadows according to the trend direction indicated by the StepMA_Stoch_KV1 histogram: one color scheme represents values on one side of zero, and another represents the opposite side. The display is a visual aid for reading higher-timeframe context alongside a chart’s existing data.

The description explains the coloring concept but does not specify the indicator’s parameter choices, signal rules, or any trading strategy built around it. It gives no backtest, performance evidence, or guidance on interpreting transitions, so the colors should not be treated as proof of future price direction. Use also depends on having the separate compiled StepMA_Stoch_KV1 indicator available in the platform’s indicator folder.

Key ideas

  • The indicator renders higher-timeframe candles as filled chart rectangles.
  • Candle body and shadow colors reflect the StepMA stochastic histogram’s position relative to zero.
  • The description provides a visual interpretation aid rather than a complete trading strategy.
  • It reports no performance testing or evidence that the displayed trend predicts returns.
  • The indicator requires a separate StepMA_Stoch_KV1 dependency.

Tags

Technical indicatorsTrend following

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