every candle is colored by the ZigZag trend, and the EMAs only set how strong the color is.
Condition Candle color
ZigZag up and EMA 4 ≥ EMA 54 Strong blue (confirmed uptrend)
ZigZag down and EMA 4 ≤ EMA 54 Strong red (confirmed downtrend)
ZigZag up but EMAs disagree Light blue (uptrend, pullback or early turn)
ZigZag down but EMAs disagree Light red (downtrend, pullback or early turn)
No ZigZag pivot yet White
Re: Rijay's System of Moving Averages
203based on xard's indicator
How the filter works- ema per 5 gives arrows frequently then higher ema settings on macd crossovers
Red arrow (lower-timeframe MACD crosses below 0): it shows only if the candle it sits on is the strong red, C’200,50,100'.
Green arrow (MACD crosses above 0): it shows only if that candle is the strong blue, C’50,150,255'.
In every other case the arrow is hidden. That includes white candles and the light red (255,160,160) and light blue (160,200,255) candles, which are not the strong colours you named.
How the filter works- ema per 5 gives arrows frequently then higher ema settings on macd crossovers
Red arrow (lower-timeframe MACD crosses below 0): it shows only if the candle it sits on is the strong red, C’200,50,100'.
Green arrow (MACD crosses above 0): it shows only if that candle is the strong blue, C’50,150,255'.
In every other case the arrow is hidden. That includes white candles and the light red (255,160,160) and light blue (160,200,255) candles, which are not the strong colours you named.
