ChrisMoody

CM Heikin-Ashi Candlesticks_V1

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Heikin-Ashi Paint Bars.

Paints Candlesticks or OHLC Bars The Exact Same as Traditional Heikin-Ashi Bars
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
// Plots Color Of Heikin-Ashi Bars while Viewing Candlestics or Bars
//Works on Candlesticks and OHLC Bars - Does now work on Heikin-Ashi bars - But I have verified its accuracy
// Created By User ChrisMoody 1-30-2014 with help from Alex in Tech Support

study(title = "CM_Heikin-Ashi_Candlesticks_V1", shorttitle="CM_Heik-Candles",overlay=true)

haclose = ((open + high + low + close)/4)//[smoothing]
haopen = na(haopen[1]) ? (open + close)/2 : (haopen[1] + haclose[1]) / 2

heikUpColor() => haclose > haopen
heikDownColor() => haclose <= haopen

barcolor(heikUpColor() ? aqua: heikDownColor() ? red : na)

Comments

thank you , when will you make them smoothed? i am looking forward for it.
+4 Reply
Thank you
+2 Reply
ChrisMoody joe_vijay
No problem. I've been using this for close to 10 years. Will be coding the version that allows for "Smoothing" at some point.
Reply
worldsapart89 ChrisMoody
@ChrisMoody, Hi Chris, what happened to the smoothing version? Sorry if it's already out and I can't see it. Also, I'm not sure if you've mentioned this anywhere else, but can you tell us the indicators that you use most frequently for stock trading?
Reply
Very nice! thank you. This way I can plan my entries without switching between heikin ashi candles and traditional candles.
Reply
Super! Do you only code of TV, or platforms as well?
Reply
ChrisMoody Greenstream
Which platforms are you referring to?
Reply
Hey Chris your idea of using Heikin-Ashi Bars with Pivot Level is great !!!!
Reply
ChrisMoody IlyasShaikh
When I only traded Pivot levels as the system I used for several years I used this Indicator for entry. for example if price was falling to a pivot level the bars would be red. Once it touched the pivot level and started to move higher I would enter when the bars changed colors showing upside momentum (I use cyan or aqua as my upside color). There is more to the methodology than that but that's the basics.
+5 Reply
IlyasShaikh ChrisMoody
Got it sir..... Hope we cover this strategy in depth once again in the webinar...
Reply
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