Aegis Custom Trend Band & Power Candles [wjdtks255]■ 1. Purpose and Methodology
Custom Trend Band & Power Candles is a trend-following execution system designed to address the "False Breakout" problem common in standard volatility indicators. Instead of simply overlaying EMA and Keltner Channels, this script integrates them through a "Momentum-Filtered Candle Mapping" logic. It identifies the "Power Phase" of a trend by requiring price action to align with the primary baseline before triggering a volatility breach signal.
■ 2. Unique Features & Technical Logic
Dynamic Power Candle Engine: The script recolors bars based on a specific dual-condition. Bars turn Yellow (#FFFF00) only when the close is above the 20 EMA and higher than the open. Conversely, bars turn Purple (#800080) when below the 20 EMA and lower than the open. This provides a cleaner psychological experience and immediate trend bias confirmation.
Volatility Synergy (Keltner Channels): The indicator uses a 1.5x ATR multiplier for its Keltner boundaries. The logic dictates that a signal (Triangle) is only valid if a confirmed Power Candle breaches these boundaries, ensuring that entries are backed by both trend direction and volume expansion.
Synergistic Filtering: By merging trend position (EMA) with volatility expansion (KC), the script minimizes whipsaws during choppy, low-volatility periods (indicated by Gray candles).
■ 3. How to Use
Long Entry (BUY): Wait for a Yellow Triangle. This signifies that a Bullish Power Candle has successfully broken through the upper volatility resistance.
Short Entry (SELL): Wait for a Purple Triangle. This indicates a Bearish Power Candle has breached the lower volatility support.
Exit Strategy: A shift back to Gray candles suggests that the momentum phase has normalized, serving as a potential signal to take profits or tighten stop-losses.
■ 4. Disclaimer
This indicator is for educational and analytical purposes only. Past performance is not indicative of future results, and no specific win rate is guaranteed. Traders should always apply proper risk management.
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