The presented indicator colors the chart candles in accordance with the data of the Hull Momentum AM indicator.
Coloring of candlesticks depends not only on the location of the oscillator histogram above or below zero.
The location of the histogram relative to the signal line is also important.
The indicator is part of a series of indicators - Hull Line AM, Hull Momentum AM, Hull Candles AM, Hull Signal AM .
For a better understanding of the operation of each of the indicators, it is recommended to start working with them by using them together on one chart.
The Hull Momentum AM indicator represents the difference between the current price and the price some number of periods ago.
The difference from the classic indicator Momentum is the preliminary smoothing of prices according to the method proposed by Alan Hull.
It should be taken into account that the values of the indicator on the zero bar (which has not finished forming yet) may change, so decisions should be made after the end of the bar formation, at the moment of opening a new zero bar.
Confirmation of the indicator signals is usually the price breaking the high (for buying) or low (for selling) of the bar on which the signal was given.
