MACD Power HA

Indicator Name: MACD Power HA
Subtitle: Standardized Heikin-Ashi Momentum Oscillator

Description: The MACD Power HA is an advanced momentum oscillator designed to provide a clearer visualization of market trends compared to the traditional MACD. By transforming standardized MACD values into Heikin-Ashi candles, this indicator filters out market noise and highlights the true strength ("Power") of the current trend.

Unlike a standard MACD, this version normalizes volatility, allowing for more consistent Overbought (OB) and Oversold (OS) detection across different timeframes and assets.

Key Features:

Heikin-Ashi Smoothing: Converts raw momentum data into smooth candles, making it easier to spot trend continuations and reversals without the "choppiness" of standard lines.

Standardized Calculation: Automatically adjusts to volatility, ensuring that signals remain reliable whether the market is quiet or volatile.

Reversion Signals: Displays visual markers (Triangles) when the price reaches extreme Overbought or Oversold levels and begins to reverse.

Hybrid Display: Includes a Signal line and a Histogram to confirm momentum strength.

New Customization Options:

Fully Customizable Colors: Users can now independently configure colors for Up/Down candles, the Histogram, and the Signal line to match their chart theme.

Toggleable Background Bands: Includes adjustable Overbought/Oversold background zones that can be toggled On/Off or recolored to reduce visual clutter.

How to Use:

Trend Following: Look for a sequence of Green Candles (above the midline) for bullish momentum and Red Candles (below the midline) for bearish momentum.

Entries: A change in candle color often signals an entry point (e.g., Red to Green crossover).

Exits/Reversals: Watch for the colored Triangles or when the candles reach the outer background bands, indicating the move may be overextended.