This indicator is based on the article: Getting Clear With Short-Term Swings by Ron Black
To set up colored candle charts:
Switch to Line Chart;
in Chart Properties window, set Line Chart Color to None (the entire price graph will disappear);
Copy the ClearMethod.mq4 file to the Indicator directory, it will be used by iCustom();
Add ClearMethodCandles1 (this must be the first), then ClearMethodCandles2 to the chart;
If you use black backgrounded chart, set IsBlackChart parameter to true for both indicator.
The histogram shows the distance from the actual switching threshold.
Clear signal(x): breaking Clear Line (candles change color here)
Move signal(arrow): Clear Line moves again after flat (see image below)
Alert: after a closed bar signal, at the first tick of next bar
The drawings and the alerts can be separately switched off.