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ShadeOpen: Colored Candle Bodies and Shadows for a Selected Period

Article MQL5 code base
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Summary

ShadeOpen visualizes a user-selected trading period with colored rectangles. One rectangle spans the period’s open and close, representing the candle body; two others represent its upper and lower shadows. The display therefore makes the period’s candle structure visible on a chart through filled areas rather than relying only on conventional candlestick rendering.

The indicator uses lime green for rising candles and a yellow-brick color for falling candles. The description names the drawing style used to create the filled regions, but provides no signal rules, parameter recommendations, market examples, or performance evidence. It should be understood as a chart visualization aid: the document explains how it encodes candle information, not how to trade from it or whether it offers an advantage over standard candles.

Key ideas

  • The indicator marks a specified trading period with colored rectangles.
  • The central rectangle represents the period’s open-to-close range.
  • Separate upper and lower rectangles depict the candle shadows.
  • Rising and falling candles use different colors.
  • The description offers a visualization method but no trading rules or performance evidence.

Tags

Technical indicators

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