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MACD Candles & Arrows
Overview
MACD Candles & Arrows is a momentum and trend-confirmation indicator designed to help traders quickly identify changes in bullish and bearish momentum directly on the price chart.
It combines MACD histogram analysis, MACD signal-line crossovers, colour candle classification, and directional arrows into one visual trading tool.
How the Indicator Works
1. Colour Candle System
The candles are automatically colored according to the selected mode.
Zero-Cross Mode evaluates two things:
- Whether the MACD histogram is above or below the zero line.
- Whether histogram momentum is rising or falling compared with the previous bar.
This allows traders to see not only the current direction, but also whether momentum is strengthening or weakening.
2. Signal-Cross Mode
The alternative candle-colour mode compares the MACD line with its signal line and measures whether the distance between them is widening or narrowing.
3. Trading Arrows
The indicator can generate arrows using either Zero-Line Crosses or MACD/Signal-Line Crosses.
A trader can use it to:
- Identify bullish and bearish momentum.
- Detect MACD zero-line or signal-line crossovers.
- Recognise when momentum is strengthening or weakening.
- Use candle colours to confirm the direction of a potential trade.
- Use arrows to highlight potential directional changes.
- Combine the signals with price action, support/resistance, trend analysis, or other confirmation methods.
