PROTECTED SOURCE SCRIPT
HAMA Candles
This is the equivalent of an indicator I have in Metatrader. The concept is really simple, it's based on a 20 period EMA but when you want to calculate the open, close, high and low prices for the candles, you adjust them based on a principle like Heikin Ashi system. The result is a candle system that can be used for two different things :
1- the color change is a good indication of the short-time trend direction. When used on higher time frame (hourly and above) you can easily find the dominant trend for shorter time frames
2- as a moving average and any system you have on moving averages, like, price crossing the candles or any other moving average crossing this one.
1- the color change is a good indication of the short-time trend direction. When used on higher time frame (hourly and above) you can easily find the dominant trend for shorter time frames
2- as a moving average and any system you have on moving averages, like, price crossing the candles or any other moving average crossing this one.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.