I wrote this indicator for intraday trading and it cannot be use only by itself you need to at least draw some S/R lines to make it useful. It is based at histogram and gives signal when it sees divergence on MACD's Histogram when macd's histogram switchs trend. Im using it to playing with a trend most of the time looking. It highlights candles which can give good singnals to play with a trend (its based on ema200 and overbought and oversold zones).
Im not a computer programist nor professional trader so it is only for educational purposes only.