Playing with Dr. Alexander Elder's Impulse System.....This is the system that colors the price bars red, green or black depending on two criteria that Elder feels are very important:
1.) Is the 13-day exponential moving average moving higher or lower?
2.) Is the MACD Histogram moving higher or lower?
If both of those conditions are true, the corresponding price bar is colored green (indicating bullishness). If both of those conditions are false, the corresponding price bar is colored red (indicating bearishness). If the signals are mixed, the price bar is colored black (indicating uncertainty).