[jjthetrader]

Yes there does appear to be more to it. There seems to be a condition of the closes closeness to the MA. It's almost like there's a very small MA envelope around the MA and until it breaks out of that the second close won't change from white.
There's the added observation that if you're closing above the MA then you get a drastic close below, bypassing that "envelope", it will go straight from green to red and bypass white all together.
I've posted a 5min chart of the ES with the diamonds on so if you guys would like to trouble shoot you can. I can post any chart you like with them on to test with.