I was surprised to see this pretty much no where else on the internet but the indicator has been in my library for quite some time. It is called the Bar Colors Indicator for MT4 and it is put in an indicator window below your chart and it seems to sort be similar to an indicator I have used in the past on TopGun called trend candles which apparently did the same thing except it drew the color of the trend directly on candlesticks.

At any rate, here's the BAR COLORS INDICATOR in action on USDCHF March 14