OPEN-SOURCE SCRIPT
Candle Color Generator

Candle Color Generator:
This indicator is designed to highlight the candle colors based on the combinations of Parabolic SAR (PSAR) and 2 Hull Moving Averages (HMA).
Colors:
Yellow, Red, and Green colors are used to describe the candle colors depends on its position to PSAR and 2 HMAs.
PSAR:
PSAR position above or below candle position is differentiated by Red and Green colors
HMAs:
As default settings 20 HMA is considered as lower period and 50 HMA is considered period for the calculation
Trade What You See:
This indicator will help to see how the setup of particular instrument coming up. Users/Traders can use and trade based on what they see and interpret from it.
Disclaimer:
Idea of publishing this script is to identify the strength of the instrument using multiple confirmation.
Using this indicator, changing inputs (show/hide/change period), and trading decisions are up to the users/traders.
Courtesy:
Thanks to inventors of HMA (Alan Hull), PSAR(Welles Wilder) as these inputs are used to make some calculations
This indicator is designed to highlight the candle colors based on the combinations of Parabolic SAR (PSAR) and 2 Hull Moving Averages (HMA).
Colors:
Yellow, Red, and Green colors are used to describe the candle colors depends on its position to PSAR and 2 HMAs.
PSAR:
PSAR position above or below candle position is differentiated by Red and Green colors
HMAs:
As default settings 20 HMA is considered as lower period and 50 HMA is considered period for the calculation
Trade What You See:
This indicator will help to see how the setup of particular instrument coming up. Users/Traders can use and trade based on what they see and interpret from it.
Disclaimer:
Idea of publishing this script is to identify the strength of the instrument using multiple confirmation.
Using this indicator, changing inputs (show/hide/change period), and trading decisions are up to the users/traders.
Courtesy:
Thanks to inventors of HMA (Alan Hull), PSAR(Welles Wilder) as these inputs are used to make some calculations
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。