| OHLC | Heiken Ashi |DESCRIPTION
The | OHLC | Heiken Ashi | indicator gives a refined Heiken Ashi interpretation while preserving real price structure (OHLC). It enhances trend clarity, candle strength, and consolidation behavior, and includes a multi-timeframe (MTF) Heiken Ashi dashboard for directional context across higher timeframes.
FEATURES
🔹 Advanced Heiken Ashi Candle Engine
- Heiken Ashi candles are calculated using true OHLC data and optionally smoothed with EMA for cleaner trend behavior.
- Strong vs weak candles detected using wick structure
- Directional coloring based on candle strength
NOTE: Strong candles show no opposing wick, while weak candles reflect hesitation or pullback.
🔹 Candle Coloring (Non-Synthetic)
Instead of plotting synthetic HA candles, the script colors real chart candles based on HA logic.
This keeps:
1. Real price levels
2. Accurate highs/lows
🔹 Doji & Indecision Detection
Small-body HA candles are identified as doji and colored contextually based on the prior trend direction.
This helps highlight pauses, transitions, or potential reversals.
🔹 Consolidation / Range Detection
The script detects ranging conditions using Heikin Ashi structure:
Clusters of small candle bodies relative to range with long two-sided wicks (Doji) may occur when price consolidates before finding new value. When detected, a shaded consolidation box is drawn to visually mark balance zones and compression.
How to use: A confirmed break above or below the indecision range can signal the next directional move.
Alternatively, a sweep of one side of the range followed by a close back inside or beyond the opposite boundary often indicates a liquidity grab and potential reversal.
🔹 Multi-Timeframe Heikin Ashi Dashboard
- A compact dashboard shows HA direction across multiple timeframes:
1m, 5m, 15m, 1h, 4h, 12h, 1D, 3D, 1W, 1M
- Direction arrows: ↑ bullish, ↓ bearish, → neutral
- Color-coded cells based on candle strength and wick structure (Strong/Weak/Doji Bull or Bear candles)
This provides higher-timeframe bias without switching charts.
DISCLAIMER
This tool is for analysis and educational insight only.
It is not financial advice or a trading signal.
Market conditions vary, and all trading decisions are the responsibility of the user.
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