Description:
This indicator is based on the article: Getting Clear With Short-Term Swings by Ron Black
To set up colored candle charts:
- Switch to Line Chart;
- in Chart Properties window, set Line Chart Color to None (the entire price graph will disappear);
- Copy the ClearMethod.mq4 file to the Indicator directory, it will be used by iCustom();
- Add ClearMethodCandles1 (this must be the first), then ClearMethodCandles2 to the chart;
- If you use black backgrounded chart, set IsBlackChart parameter to true for both indicator.
The histogram shows the distance from the actual switching threshold.
Signals (ClearMethodSignals.mq4):
- Clear signal(x): breaking Clear Line (candles change color here)
- Move signal(arrow): Clear Line moves again after flat (see image below)
- Alert: after a closed bar signal, at the first tick of next bar
The drawings and the alerts can be separately switched off.
Image:
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