MAMA CANDLES
"MAMA CANDLES" logo
03/09/2025
Desktop
Since 19/09/2024
Traded volume
194.73K
Pips won
152.36K
Free installs
419

This code implements the MESA Adaptive Moving Average (MAMA) indicator, a complex adaptive filter designed to respond to cycles and smooth out price data. Here's a breakdown of its key features:

Key Elements:

  1. Hilbert Transform: The indicator uses a Hilbert Transform to calculate the dominant cycle phase and period of the price series, which helps in identifying the market cycle.
  2. Adaptive MAMA & FAMA:
    • MAMA is the faster moving average that adapts to the dominant cycle.
    • FAMA is the smoother, slower average.
    • Both are plotted on the chart using different colors.
  3. Custom Candlestick Coloring:
    • Candlesticks are colored green when MAMA is above FAMA (bullish condition).
    • They are colored red when MAMA is below FAMA (bearish condition).
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