This indicator changes the color of your candles to show the degree to which they are overbought or oversold. They may be used on any Time Frame and alerts may be set on the color changes.
Color Candles can be used for determining the health of a Bullish or Bearish Trend and to identify areas of Support and Resistance. They can also be used to help find trend reversals and divergences. Last version of the indicator have build-in market divergences detector.
There are 6 candle Colors in all
3 for OverBought
Yellow represents Super OverBought
Lime Green represents OverBought
Green represents Slightly OverBought
3 for OverSold
Red represents Slightly OverSold
Dark Red represents OverSold
White represents Super OverSold
Support and Resistance Levels
These Colored Candles can be used to identify levels of Support and Resistance by simply drawing a horizontal line off the close of the last Highest or Lowest Colored Candle in a run.
Draw the line off of the bottom of a White Candle body and the top of a Yellow Candle body.
Detailed user manual can be found here
- Product Code: Color Candles
- Availability: In Stock