Bear_Bulls_Power_Candle - MetaTrader 5 Script - MT4/MT5 Resource

Histogram based candlestick chart Bear_Bull_Power is calculated based on the open, high, low and close price time series of the price chart. Rising candlesticks are colored green, while falling candlesticks are colored red. Growth candlesticks that have a higher closing price compared to the previous candlestick use bright colors, while those that have a lower closing price use lighter colors. Candlesticks with falling closing prices appear bright red, while candlesticks with rising closing prices appear light red.

 //+------------------------------------------------+
//| Indicator input parameters |
//+------------------------------------------------+
Input Smooth_Method MA_Method1=MODE_SMA_; // Indicator smoothing method
Input unit length 1= 12 ; // Indicator smoothing depth
Input integer stage 1= 15 ; // indicator smoothing parameters,
//---- For JJMA to change within the range of -100...+100, it affects the quality of the transition process;
//---- VIDIA is the CMO period, AMA is the slow moving average period
Enter Smooth_Method MA_Method2=MODE_JJMA; // Final indicator smoothing method
Input unit length 2 = 5 ; // Final indicator smoothing depth
Input integer stage 2= 15 ; // final indicator smoothin parameter,
//---- For JJMA to change within the range of -100...+100, it affects the quality of the transition process;
//----VIDIA is the CMO period, AMA is the slow moving average period
Input unit range = 10 ; // Maximum gap size between initial candlesticks, not shown in the indicator
Enter integer shift = 0 ; // indicator moves horizontally (in bars)
//+------------------------------------------------+

The indicator uses the SmoothAlgorithms.mqh library class. The article details a collaboration with them to average price series for intermediate calculations without using additional buffers .

Figure 1. Bear_Bulls_Power_Candle

Attachment download

📎 Bear_Bulls_Power_Candle.mq5 (17.9 KB)

📎 SmoothAlgorithms.mqh (130.2 KB)

Source: MQL5 #21174