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Displaying Higher-Timeframe Candles with 3-Line Break Colors

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Summary

This document describes a chart indicator that displays candlesticks from a larger timeframe as filled rectangles. It uses the values of a 3-Line Break indicator to determine the rectangle colors: the candle body and shadows each receive colors based on whether the indicator is above or below its zero line. The intended effect is to show higher-timeframe context in a colored candle display.

The indicator depends on a separate compiled 3-Line Break indicator file being available in the platform’s indicators folder. The document describes visualization behavior and a software dependency, not a trading entry rule or evidence of predictive value. It gives no settings, market examples, performance results, or guidance on interpreting color changes as signals. Its main practical contribution is therefore a way to encode a higher timeframe indicator state visually alongside candles.

Key ideas

  • The indicator represents candles from a higher timeframe with filled rectangles.
  • The 3-Line Break indicator values determine the candle coloring.
  • Body and shadow colors vary according to the indicator’s position relative to zero.
  • The display relies on a separately compiled 3-Line Break indicator.

Tags

Technical indicatorsTrend following

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