Works best on the longer-time frames to let you know if were in a bullish or bear cycle.
Green Bars / Candles on D W M indicate a strong bullish trend
Red Bars / Candles on D W M indicate a strong bearish trend
This script helps eliminate a lot of false color signals on your chart so its clear to see whats happening on the longer time-frames.
20 step red/green gradient function
The color gradient function allow colorize any source in 5% steps.
Define the source, minimum and maximum value (constant or , for example, bb (or any other channel)).
Based on the Elder's Force Index (EFI) , +/- of the EFI and its ema is used to describe the rise, fall or possible reversal of the market, and finally shown by bar color.
The green bar represents a strong bull and the red bar represents a strong bear;
The blue bar indicates that the downtrend is exhausted and may rise. Likewise the yellow bar.
Of course, it is...
The idea is to make it more visible if the moment is to seek buying or selling, based on moving averages, being SMA 21 and EMA 9.
best BUYBAR has the EMA9 and SMA21 rising and closing above them. "relevance A"
best SELLBAR has the EMA9 and SMA21 dropping and closing below them. "relevance A"
Conditions for all colors of the candlesticks:
BuyBar A = price...