Based on the concept of K's Candlestick but is converted as a Moving Average.
A little background, K's Candlestick is similar to Heikin-Ashi but have some structural differences that makes them useful on their own.
K's Candlestick are derived from the following.
1. A short-term exponential moving average of the open price.
2. A short-term exponential moving average of the high price.
3. A short-term exponential moving average of the low price.
4. A short-term exponential moving average of the close price.
Instead of a candlestick, it was derived to become a Moving Average. Thus, the usage could somewhat similar of the common Moving Averages.
A little background, K's Candlestick is similar to Heikin-Ashi but have some structural differences that makes them useful on their own.
K's Candlestick are derived from the following.
1. A short-term exponential moving average of the open price.
2. A short-term exponential moving average of the high price.
3. A short-term exponential moving average of the low price.
4. A short-term exponential moving average of the close price.
Instead of a candlestick, it was derived to become a Moving Average. Thus, the usage could somewhat similar of the common Moving Averages.
Release Notes:
Reversed the color of the line, if closing prices is above, it turns green. Otherwise, turnd red.