OPEN-SOURCE SCRIPT
MCR Candles Indicator
This indicator will do the following:
For a bearish blue momentum candle:
1. The candle must be a bearish candle.
2. Price must be trading below the 20ema.
3. The body of the candle must be larger than the ATR 7 period.
4. Make the color of the candle that meets these three criteria blue.
For a bullish yellow momentum candle:
1. The candle must be a bullish candle.
2. Price must be trading above the 20ema.
3. The body of the candle must be larger than the ATR 7 period.
4. Make the color of the candle that meets these three criteria yellow.
For a bearish blue momentum candle:
1. The candle must be a bearish candle.
2. Price must be trading below the 20ema.
3. The body of the candle must be larger than the ATR 7 period.
4. Make the color of the candle that meets these three criteria blue.
For a bullish yellow momentum candle:
1. The candle must be a bullish candle.
2. Price must be trading above the 20ema.
3. The body of the candle must be larger than the ATR 7 period.
4. Make the color of the candle that meets these three criteria yellow.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.