Heikin Ashi Candles [Improved] - with real closing price!, and with a Heikin Ashi [improved] based moving average!
One of the main functionality of Heikin Ashi is to provide a smoothed price to get clarity in trends. This script builds upon the Heikin Ashi Candlestick I published in 2020 that took the standard Heikin Ashi calculations and added the actual closing price.
The improved version adds a new smoothing calculation to give traders an even better way to display trends. In addition to that, a Heikin Ashi based moving average is added to guide you to take trades in the trend direction. The best part is the users have the ability to display both the real closing price and the Improved Heikin Ashi closing price.
With a few modifications within the smoothing settings, the users can get features like Candle Cloud that provides traders with functionalities like Ichimoku clouds.
Usage: This indicator serves as a trend tool with enhanced features of the original Heikin Ashi calculations. The indicator help traders to take trades in the same direction of the trend. The new improved version gives traders a new better way to make use of all Heikin Ashi strategies that have been developed during the years. Apply the same methods with this new version.
Disclaimer: No financial advice, only for educational/entertainment purposes.
Hello! Thanks so much, nice work, however I noticed that the 'actual close price' only currently works in regular candle mode, which means that the 'volume bars' don't match the price action on your indicator. So I'm just wondering if there's any way the 'actual close price' could work in Heikin Ashi mode so the 'volume bars' match the price action? Heikin Ashi volume is very important in my opinion as it's so much cleaner and easier to read. Would be the perfect combo! Thanks very much again.
WATCHDOG72461
⋅
Excellent Indicator - giving a clear picture - please keep it up. thanks
akasstan
⋅
Great script, thanks a lot! Any chance you could add an alert option for the colour switch of the MA (red to green)? Would be very helpful! Thanks
Table1200
⋅
Some of my candles are half green and half red. Like its not filling in the noise. Is there something Im doing wrong? Thx
ichimokucorner
⋅
@Table1200, This indicator adds the candles onto the screen, but your normal candles will also still be there. For the best effect you need to hide the regular candles so that only this indicator is enabled. This is probably why you see a mix if they are both on at the same time.
sdeepalucky
⋅
Hello
What I am expecting is? After the candle is formed and if that candle (O = L (show green) or O = H(show red)) if the wick has both sides then show different color for heikin ashi candle only..