This is a trend indicator utilizing a 9-period exponential moving average, known as the Trigger Line. When price is above the Trigger Line both the candles and Trigger Line are colored green, indicating an uptrend for price. Price will tend to find support at the Trigger Line when trending above the Trigger Line. When price is below the Trigger Line both the candles and the Trigger Line are colored pink, indicating a downtrend for price. Price will tend to find resistance at the Trigger Line when trending below the Trigger Line.
Coloring price candles based on price relation to the Trigger Line paints a clearer picture of the true short-term trend behind price, rather than traditional price candles which only paint price in two colors representing individual candle up and down movement while no short-term trend identification is utilized.
Indicator inputs are editable; candle colors and T-Line can be turned on/off.
Indicator inspired by Stephen Bigalow's T-Line strategy.
@excaliburcenter1, There are no alarms associated with this indicator.
excaliburcenter1
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@C2Trends, Thanks so much for the reply. The indicator is very good I would like to have an indicator like this that enables candle color change alarms. Do you have any suggestions? Thank you again
tapit69
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nice job.Thanks
Braynebo
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seems very accurate bro
pipesmoker1
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Thanks for this indicator. It gives a better picture of the candles, than normal candles . Mick