The Candle colours are as follows...
Light Blue for an UPTREND (Candle is above both Blue MA lines).
Light Pink for a DOWNTREND (Candle is below both Red MA lines).
Candle is Black when the MA line colours are not in sync (i.e. one Blue and one Red).
Ideally, when the Candles are in an UPTREND then you want to be trading Above the Gold colour Daily Open line and when the Candles are in a DOWNTREND you want to be trading Below the Gold Daily Open line.
The Large background Candles on the 1hr chart shows the Daily Candle movement.
You want to be using a broker that has their server set to NY Close.
You have the option to choose your own parameters from within the indicator's input menu to suit your own style of trading.
Enc. MT4 files plus screenshot for your perusal.
All the best
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