CMC – indicator for MetaTrader 5

Indicator CMC (Clear Method Candles) displays colored candlesticks, based on the existing market trend. It is calculated by the “pure” method (without using any other indicators, only price) and has no configurable parameters. It is based on indicator Clear Method Histogram.

Calculations:

  • If Swing > 0, then candlesticks are blue

  • If Swing < 0, then candlesticks are red

where:

HH = Maximum(High, PrevHH)
LH = Minimum(High, PrevLH)
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
    
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