Skip to content
All library documents

Displaying Higher-Timeframe JSatlCandle Trends as Colored Backgrounds

Article MQL5 code base
Read the original

Summary

This indicator displays JSatlCandle candles from a higher timeframe as filled rectangles in the chart background. It uses filling buffers to show the candle regions, with body and shadow colors changing according to the direction indicated by the JSatlCandle color. The described convention uses green or red for candle bodies and lime or pink for shadows.

The indicator is a visualization aid for bringing higher-timeframe candle direction into a chart view. The description does not explain how JSatlCandle determines its signals, specify a trading rule, or provide tests of whether the colored display improves decisions. It also notes that the underlying JSatl and JSatlCandle indicators must be installed for the display to work, so the visualization depends on those components.

Key ideas

  • The indicator displays higher-timeframe JSatlCandle data as filled chart rectangles.
  • Rectangle colors follow changes in the underlying candle indicator’s color.
  • Bodies and shadows use different color pairs to distinguish the displayed candle direction.
  • The description gives no trading rules or performance evidence for using the visualization.

Tags

Technical indicatorsTrend following

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