The purpose of this MetaTrader indicator is to simply paint the candles based on the price position in regards to a moving average defined by the trader.
In the image above, instead of dragging on the chart the 55 EMA, we are using this indicator to simply change the color of the candles, therefore eliminating the EMA and clearing the chart. This allows for a better observation of the price action.
The indicator settings are very simple, traders can choose the type and length of the moving average they usually base their strategy on, and also change the width and colors to suit their trading chart.
Depending on its settings, the indicator can be successful used to either detect the trend, spot the entries/exits or both.