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Using Candle Colors to Display the Current Trend

Article MQL5 code base
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Summary

The document describes an indicator that represents the current trend through candle colors. It identifies an author and shows the indicator alongside a related signal indicator, suggesting that its main purpose is visual trend display rather than a fully specified trading system.

No rules are given for how candle colors are determined, what conditions define a trend, or how a trader should act on a color change. The page contains figure references but no reported tests, performance results, or examples with enough detail to assess the signal. It offers a basic charting concept, while leaving the underlying calculation and practical limitations unspecified.

Key ideas

  • The indicator communicates its current trend reading through candle colors.
  • The page also references a related signal indicator for comparison on a chart.
  • It does not explain the calculation behind the trend classification.
  • No entry rules, backtest results, or performance evidence are provided.

Tags

Technical indicatorsTrend following

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