HTF Coloured Period

21 mar

The "HTF Coloured Period" indicator colors the candles on the current chart based on the direction of a higher timeframe (HTF) candle. Here's how it works:

1. Higher Timeframe Selection:
   - The user can set the higher timeframe period, which can be adjusted in minute increments. The default is 1 day (1440 minutes), but it can be customized to any desired timeframe.
   
   
2. Higher Timeframe Data:
   - The indicator compares the open and close prices of the higher timeframe's candle.
   
   
3. Direction Determination:
   - If the higher timeframe candle is bullish (close > open), it considers the candle as green.
   
   
4. Coloring Candles:
   - If the higher timeframe candle is bullish, the current chart's candles are colored green. If it's bearish, the candles are colored red.
   

The result is a visual indicator where the lower timeframe candles are color-coded based on whether the higher timeframe candle is bullish or bearish, helping to identify alignment with the higher timeframe trend.

21 mar

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