ColorKeltnerCandles indicator: assessing the strength and direction of the trend

ColorKeltnerCandles indicator for the MetaTrader 5 platform colors candles in different colors depending on the strength and direction trendusing Keltner channels for this purpose.

The ColorKeltnerCandles indicator is based on five symmetric Keltner channels with different values of input deviation parameters. Breakout of the channel with a higher deviation value leads to a brighter coloring of the candle. For an uptrend there are shades of green-salad, for a downtrend - red-pink-brown.

A total of five deviation levels and ten colors are used to display the trend. If there is no breakdown of the weakest deviation level, the candles are not colored and have the usual coloring.

Please note that in order to work of the ColorKeltnerCandles indicator you need the SmoothAlgorithms.mqh file (located in the archive), which should be copied into the Terminal\MQL5\Include.

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