Heikin Ashi Processed Generalized Smooth Step

Nov 18

Disclaimer : This is my attempt of smoothing and improving tarasenko_ script. Find the originial author here :

Overview:
The Smooth Step Heikin Ashi Indicator is an enhanced version of the original script developed by tarasenko_. This advanced TradingView tool integrates Heikin Ashi candlestick calculations with a sophisticated smoothing oscillator, offering traders improved trend visualization and dynamic alert capabilities.

Key Enhancements:

• Refined Heikin Ashi Calculations: The indicator computes smoothed Open, High, Low, and Close (OHLC) values with adjustable factors, allowing for more precise trend analysis. It also includes an optional second-level modified Heikin Ashi calculation for additional smoothing.
  
  
• Advanced Smooth Step Oscillator: Utilizing Pascal’s triangle, this oscillator provides a visual representation of price momentum. Traders can configure the lookback period, equation order, and threshold to tailor the oscillator to specific trading strategies.
  
  
• Enhanced Customization Options: Users can toggle between standard and Heikin Ashi candles, adjust smoothing parameters, and set display preferences to align with their analytical needs.
  
  
• Noise Reduction: Smoothes out market fluctuations using customizable Heikin Ashi factors. Introduces a second-level smoothing option for even greater noise reduction, allowing traders to focus on the core trend.
  
  Original Indicator :
  
  
  
  Heikin Ashi processed version :
  
  

Visualization Features:

• Heikin Ashi Candles: Displays candles with customizable colors and visibility settings, aiding in clearer trend identification.
  
  
• Smooth Step Oscillator Line: Plots a line that reflects trend strength and momentum, assisting traders in making informed decisions.
  
  
• Threshold Line: Provides a visual reference point to facilitate quick assessments of market conditions.
  

Conclusion:

Building upon tarasenko_'s original work, the Smooth Step Heikin Ashi Indicator delivers a robust tool for traders seeking refined market analysis. Its combination of advanced smoothing techniques and dynamic alert features makes it a valuable addition to any trader's toolkit.