Some strategies depend on a higher or lower close than the previous bar's close. With lower time frames and small bars, this can be time consuming. The indicator reduces the time for such decisions by colour indicating the condition. A higher close than the previous bar is denoted by a green dot at the bottom of the screen, red for a lower close and blue for an equal close.
Thank you for putting this together. Quick question - it looks like this indicator can only complete the signal once the bar closes since it's checking the previous 2 bars. Is my understanding correct?
DavidOConnorSpain
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@dhman2012, hi there! this is indeed correct. A close level could change anytime during the bar's formation so we have to wait until the bar closes to know the exact level.