The Candle Overlay places colored candles directly on your price chart based on the momentum calculations from Oscillator Waves. This lets you see the indicator's trend assessment without looking at the oscillator panel.
Display Options
Option
Description
Show Candle Overlay
Displays momentum-colored candles on the main chart
Display as Bar
Replaces candles with a small diamond bar at the top of the chart β less intrusive
Show Weak/Reversal Candles
Adds purple candles during weak/choppy momentum periods
Momentum Candle Type
Method
Description
Method 1
Colors based on longer-term momentum trend (MA crossover logic)
Method 2
Colors based on Oscillator Waves momentum analysis
Weak Detection Sensitivity
Low β Only the most obvious chop (fewer purple candles)
Medium β Balanced detection (recommended)
High β More aggressive detection (more purple candles in ranging markets)
