Can somebody tell me the logic behind this indicator?

Hi all,
got this indi from another forum. I've taken a quick look and in my non existent MQ4 knowledge came up with nothing but confusion.

I'd love to know the logic behind when it paints the candles red and green, I'd also love if somebody could do a quick mod and enter a data point that would tell me clearly if that particular candle was Red, Green or neither in the data window, I don't see why all the numbers are there in the data window already, can anyone explain that to me?

As far as I know they are based around GRaB candles.

thanks in advance!
Stuart

1. Price channel of EMA 34 of bar high/low.
2. Price close above/below channel and price close greater/less previous bar open.

If the close of the current bar is higher than the open of the previous bar AND the close of the current bar is higher than the current EMA(34) of the bar high
then the trend is up: Draw BULL candles.

If the close of the current bar is lower than the open of the previous bar AND the close of the current bar is less than the current EMA(34) of the bar low.
then the trend is down: Draw BEAR candles.

Thanks Xaphod, much appreciated.