Displaying Higher-Timeframe Candles with VolatilityPivot Trend Colors

Summary

This indicator displays candles from a higher timeframe as filled rectangles over a chart. It colors the candle body and shadows according to the direction signaled by the VolatilityPivot indicator, using distinct palettes for the two trend directions. The description presents a chart visualization tool rather than a trading strategy or a method for generating entries and exits.

The indicator depends on a separately compiled VolatilityPivot component being installed in the terminal’s indicator directory. The document gives no rules for interpreting the colors, no performance evidence, and no discussion of repainting, timeframe alignment, or other limitations. Its practical use is therefore limited to visually showing higher-timeframe candle structure alongside the referenced trend indicator.

Key ideas

• The indicator renders higher-timeframe candles as filled chart rectangles.
• Candle bodies and shadows use different colors for the two VolatilityPivot trend directions.
• Operation depends on a separate compiled VolatilityPivot indicator.
• The description provides no trading rules or evidence of predictive performance.

Tags

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