Color_PEMA_Envelopes_Digit_System - MetaTrader 5 script

This indicator uses the breakthrough system Color_PEMA_Envelopes_Digit channel.

When price exits the gray channel, the candlestick color will change to the color corresponding to the direction of the trend. Aquamarine is used for growth in financial assets, yellow means decline. Bright colors indicate that the trend direction is in line with the direction of the candlestick. Dark colors correspond to situations where the candlestick direction is opposite to the trend.

The indicator uses SmoothAlgorithms.mqh library class (copy it to \MQL5\Include). A detailed description of the class can be found in the article Average price series for intermediate calculations without using additional buffers .

Figure 1. Color_PEMA_Envelopes_Digit_System

Attachment download

📎 Color_PEMA_Envelopes_Digit_System.mq5 (31.88 KB)

📎 SmoothAlgorithms.mqh (130.2 KB)

Source: MQL5 #18656