ColorBearsGap - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

This indicator shows price gap color bear candles on candlestick chart. This gap usually indicates a continuation of the short-term trend in price action. It should be noted that when a fully formed bar changes, a new bar will appear on the indicator's histogram, and it can be analyzed immediately after its appearance.

The indicator uses SmoothAlgorithms.mqh library class (copy it to \MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

Figure 1. ColorBearsGap indicator

Attachment download

📎 colorbearsgap.mq5 (7.85 KB)

📎 smoothalgorithms.mqh (130.19 KB)

Source: MQL5 #14319