In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
study("[RS]Multiple Moving Average Candle System V0", overlay=true) src = input(title='Source', type=source, defval=hl2) MA1_length = input(title='MA1 Length', type=integer, defval=4) MA2_length = input(title='MA2 Length', type=integer, defval=8) SHOW_CLOSE = input(title='Show Close Price Point?', type=bool, defval=true) MA1 = sma(src, MA1_length) MA2 = sma(src, MA2_length) c_high = high c_low = low c_open = MA2 c_close = MA1 isExpanding = rising(abs(c_close - c_open), 1) c_palete = c_close > c_open and isExpanding? lime : c_close > c_open ? olive : c_close < c_open and isExpanding ? red : c_close < c_open ? orange : gray plotcandle(c_open, c_high, c_low, c_close, title='MA Candles', color=c_palete) plot(title='Close', series=not SHOW_CLOSE ? na : close, style=circles, color=black, linewidth=2)
go to options >> scales : untick "scale price chart only"
right click the ticker name on top and "hide"