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

The indicator CMC (Clear Method Candle) displays colored candlesticks according to the existing market trend. It is calculated by a "pure" method (without using any other indicators, only prices) and has no configurable parameters. It is based on the indicator clearing method histogram .

If Swing > 0 then the candlestick is blue

If Swing < 0 then the candlestick is red

 HH = maximum value (highest value, previous HH)
LH = minimum value (highest value, previous LH)
HL = Maximum (Low, PrevHL)
LL = Minimum (Low, PrevLL)

• If swing > 0 and high < HL :

   Swing=-1
  LL = low LH = high

• If swing < 0 and low > LH :

   Swing = 1
  HH = High HL = Low

• Otherwise, if high < HL :

   Swing=-1
  LL = low LH = high

• Otherwise, if low > HL :

   Swing = 1
  HH = High HL = Low