This indicator counts consecutive green/red candles offering some basic statistics and signals/alerts.
Features - Counts consecutive green/red candles in an oscillator chart - Moving average of the counting helps spotting when the consecutive candles are away from the mean. MA length and multiplier to adjust the signal sensitivity. - Thresholds can be set to backtest and send alerts on any number of arbitrary consecutive candles of the same color. - All time highs: the indicator keeps track of when the maximum has been reached - Distribution data: the number of times each number of consecutive color candles has been reached is offered
Signals - Threshold signal triggers when the number of candles of the same color is above the specified threshold. - MA cross signal triggers when the number of candles of the same color is above the MA.