OPEN-SOURCE SCRIPT
MTF Heiken Ashi (No Repaint)
Updated
Hi there. This indicator is inspired by Heiken Ashi MTF (by jdmonto0).
The problem with that indicator was that it repaints and I tried to solve that.
I figured that the reason the other version repaints was because the heiken ashio calculation is based on the close of the candle, and since the higher timeframe candle hasn't closed yet, the value of previous candles on a lower timeframe can change.
This version bases the calculation on the previous bar, which solves the repainting problem.
Please tell me what you think about it.
The problem with that indicator was that it repaints and I tried to solve that.
I figured that the reason the other version repaints was because the heiken ashio calculation is based on the close of the candle, and since the higher timeframe candle hasn't closed yet, the value of previous candles on a lower timeframe can change.
This version bases the calculation on the previous bar, which solves the repainting problem.
Please tell me what you think about it.
Release Notes
Hey everyone. Hope you're all doing well?This update has been long overdue. I still get notifications from people who find this indicator useful, so this is for those people.
The script is now more functional and accurate in the 'non-repainting' bit. The colors would appear to have an offset, representing the information that would be available at that time. Only confirmed bars/information are reflected by the indicator.
I hope you find this update useful. Cheers!
Release Notes
Hey everyone!This update is dedicated to @vimins. He has made suggestions for updates since 2021, and somehow I just got to see them. Thanks for hanging around all these years.
The new features are:
- More timeframe inputs, with a switch on/off option for each of them.
- Background colours when all timeframes give the same signal. This feature was gotten from the Rubend18 version of this script (not available on Tradingview anymore).
Release Notes
- added alert conditions for each timeframe, and for all timeframes togetherOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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.