Directional filter
The idea is to show simply through colors "stronger or weaker" the relevance of candles in the current direction of the asset.
the indicator was made to be used in the graphics of 5m and 15m. based on the SMA20 already indicated previously and with a SMA20 of the graph of 60m.
candles will have their colors modified according to their relevance in the current trend, "A" through "D", where "A" is the strongest and "D" is the weakest.
Conditions:
Buy candle A: price closes above SMA20 (5m or 15m) and above SM20 of 60m.
Buy candle B: price closes above the SMA20 (5m or 15m) and below the SMA20 of 60m.
Buy candle C: Price closes below the SMA20 (5m or 15m) and above the SMA20 60m.
Buy candle D: price closes below the SMA20 (5m or 15m) and below the SMA20 of 60m.
Sell candle A: price closes below the SMA20 (5m or 15m) and below the SMA20 of 60m.
Sell candle B: price closes below the SMA20 (5m or 15m) and above the SMA20 of 60m.
Sell candle C: price closes above the SMA20 (5m or 15m) and below the SMA20 of 60m.
Sell candle D: price closes above the SMA20 (5m or 15m) and above the SMA20 of 60m.
Note 1: SMA8 and SMA200 are also inserted (but they do not interfere with the indicator)
Note 2:
I will leave an image with the colors that represent the relevance of each candle.
https://imageshack.com/a/img921/1808/uv3Wo8.png
the indicator was made to be used in the graphics of 5m and 15m. based on the SMA20 already indicated previously and with a SMA20 of the graph of 60m.
candles will have their colors modified according to their relevance in the current trend, "A" through "D", where "A" is the strongest and "D" is the weakest.
Conditions:
Buy candle A: price closes above SMA20 (5m or 15m) and above SM20 of 60m.
Buy candle B: price closes above the SMA20 (5m or 15m) and below the SMA20 of 60m.
Buy candle C: Price closes below the SMA20 (5m or 15m) and above the SMA20 60m.
Buy candle D: price closes below the SMA20 (5m or 15m) and below the SMA20 of 60m.
Sell candle A: price closes below the SMA20 (5m or 15m) and below the SMA20 of 60m.
Sell candle B: price closes below the SMA20 (5m or 15m) and above the SMA20 of 60m.
Sell candle C: price closes above the SMA20 (5m or 15m) and below the SMA20 of 60m.
Sell candle D: price closes above the SMA20 (5m or 15m) and above the SMA20 of 60m.
Note 1: SMA8 and SMA200 are also inserted (but they do not interfere with the indicator)
Note 2:
I will leave an image with the colors that represent the relevance of each candle.
https://imageshack.com/a/img921/1808/uv3Wo8.png
Versionsinformation:
the update is available to change the color of the SMA 20 (5min or 15min) according to the direction and the asset is.
Green = SMA20 UP
Red = SMA20 DOWN
White = NEUTRAL
Green = SMA20 UP
Red = SMA20 DOWN
White = NEUTRAL
Versionsinformation:
Version 3.0 did the exchange of SMA 8 by EMA 9
when the EMA 9 is up your color will be blue, when it is down your color will be orange.
There was no change in the colors of the candles
when the EMA 9 is up your color will be blue, when it is down your color will be orange.
There was no change in the colors of the candles
Versionsinformation:
Replacement of SMA 20 by EMA 21.
Versionsinformation:
All SMA 20 were replaced by EMA 21
Versionsinformation:
Update to fill the zone between the EMAs selected according to the current price of the asset.
price closed above EMAs = green fill
price closed below the EMAs = red fill
price closed between EMAs = white fill
price closed above EMAs = green fill
price closed below the EMAs = red fill
price closed between EMAs = white fill
Versionsinformation:
fill correction
Versionsinformation:
I found it more appropriate to exchange EMA 20 for SMA 21.
Versionsinformation:
a small correction in the names of the settings