Color Candle Strategy

I provided. This strategy is color-based and is designed for momentum trading across any timeframe, especially the 1-minute, 5-minute, and 15-minute charts.

🧠 Strategy Overview: “Color Candle Strategy”
This is a visual, momentum-based price action system that uses color-coded candles to identify short-term directional trades. The core logic relies on specific color transitions, primarily:

Yellow candles act as signal candles

Green or Red candles act as entry confirmations

Blue candles serve as early exit warnings

📈 Core Strategy Rules
✅ BUY ENTRY
Enter a long (BUY) position when:

A Green candle closes immediately after a Yellow candle

This implies bullish continuation after a neutral/consolidation candle

📌 SELL ENTRY
Enter a short (SELL) position when:

A Red candle closes immediately after a Yellow candle

This implies bearish continuation after a pause

🎯 TARGET / EXIT
Exit the trade (full close) when:

A Yellow candle or an opposite-colored candle appears and closes

For BUY: exit on Yellow or Red close

For SELL: exit on Yellow or Green close

🏃‍♂️ EARLY EXIT (Optional)
If enabled via input checkbox:

Exit early if a Blue candle closes

Used to protect gains or avoid reversals

🛡️ STOP LOSS
Stop-loss is placed based on the recent candle structure:

For BUY: SL is below the lower of Yellow or Green candle

For SELL: SL is above the higher of Yellow or Red candle

🧩 Indicator Logic (in the Script)
The script simulates colored candles using placeholder logic:

Candle Simulated Condition Purpose
Yellow Close > Open and previous close < open Signal candle (pause or setup)
Green Close > Open and close > previous high Bullish entry confirmation
Red Close < Open and close < previous low Bearish entry confirmation
Blue Close < Open and volume spike Early exit or reversal warning

You can replace these conditions with actual values from a custom indicator if you're using a proprietary candle coloring system.