Thinking about colors Version: 1.0

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🎨 “Thinking About Colors” — When Trend Meets Precision, Color Speaks! 🎨

A Powerful, Multi-Timeframe RSI + Volatility Band Indicator with Heiken Ashi Support and Custom Alerts for MetaTrader 4


🔍 Overview

"Thinking About Colors" is one of the most advanced and customizable MT4 indicators developed by R.KH. It extends the logic of TDI (Traders Dynamic Index) by combining RSI (multiple methods), moving averages, and volatility bands — all visualized in a separate indicator window using meaningful colors.


With support for Heiken Ashi price types, over 6 MA smoothing types, and multiple RSI modes, this tool is designed to offer deep insight into market dynamics while maintaining a clean and colorful visual layout.


🧠 Core Functionality

At the heart of the indicator:


✅ RSI Line: Measures strength based on customizable price type and method


✅ Signal Line: Smooths RSI line to confirm trends


✅ Volatility Bands: Upper, middle, and lower bands to assess range and volatility


✅ Heiken Ashi: Optional source price for trend filtering


✅ Trend Detection: Tracks crossover between RSI and Signal Line


✅ Custom Alerts: On crossover, direction change, and more


✅ Arrows & Labels: Optional visual signals directly on the chart


⚙️ Input Settings

📈 RSI Section

ParameterDescription

RsiPeriodPeriod for RSI calculation

RsiMethodType of RSI (RSX, Slow, Rapid, Harris, Cuttler, etc.)

RsiPricePrice type (Close, Heiken Ashi, Weighted, etc.)

RsiPLPeriodPeriod for RSI Price Line (RSI smoothing)

RsiPLMaModeMA method for RSI Line

RsiSLPeriodPeriod for Signal Line

RsiSLMaModeMA method for Signal Line


🎯 Volatility Bands

ParameterDescription

VolBandPeriodPeriod used for band calculation

VolBandMaModeMA method used for centerline

VolBandMultiplierDetermines band width based on deviation


🔔 Alerts & Arrows

ParameterDescription

alertsOnEnable alerts

alertsMessagePopup alert message

alertsSoundSound alert

alertsNotifyMobile push notification

alertsEmailEmail notification

arrowsVisibleShow arrows on chart

arrowsUpColor/DnColorColors for arrows


🖼️ Visualization & Display

ParameterDescription

TimeFrameSet to use different timeframe

InterpolateSmooth drawing between bars

label_showShow trend label (UP, DOWN, Neutral)

label_type0 = crossover logic, 1 = above/below 50 level


📈 Display Components

Line/ColorMeaning

Blue LineVolatility Upper Band (bandUp)

Yellow LineMiddle Band (bandMi)

Blue Line (2)Lower Band (bandDn)

Green LineRSI Price Line (rsiPL)

Red LineRSI Signal Line (rsiSL)

Gray Dotted LinesLevels 32 / 50 / 68 for visual guide

Arrows (Optional)Visual Buy/Sell Cues on chart

LabelShows current trend state (based on crossover or level)


🔍 Trend Logic

Uptrend:


RSI Price Line Signal Line


Optional: both lines above 50 (if label_type = 1)


→ Green arrow appears, “UP” label shown


Downtrend:


RSI Price Line Signal Line


Optional: both lines below 50


→ Orange arrow appears, “DOWN” label shown


Neutral:


RSI and Signal Line in opposite halves of 50 zone


→ Gray label displayed


🔔 Alert System

Alerts are triggered only once per new trend or crossover:


📬 Popup Alert: Optional alert message with symbol, time, direction


📧 Email Alert: Optional email trigger


📱 Push Notification: Optional mobile alert


🔊 Sound: Custom sound file support (default: alert2.wav)


🧠 Custom Price Options

Supports 30+ types of prices, including:


Standard: Close, Open, High, Low, Median, Typical


Heiken Ashi: Classic and "better formula" versions


Biased Types: Trend-based high/low calculation


This allows traders to analyze market behavior through alternative perspectives.


🌐 Multi-Timeframe Mode

You can apply the indicator in MTF mode using the TimeFrame input. When enabled:


Main window displays interpolated higher timeframe RSI and bands


Interpolation ensures smooth transition between candles


Labels and alerts are still synced to main chart


✅ Benefits

Fully customizable trend-detection logic


Works with any symbol or timeframe


Ideal for scalping, swing, or long-term strategies


Combines RSI, moving averages, volatility, and price types


Easy to integrate into existing templates and systems


👨‍💻 Developer Info

Name: R.KH


Indicator: Thinking About Colors


Version: 2025


Website: www.robomql.com


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$15