OPEN-SOURCE SCRIPT
Ultimate Heiken-Ashi
Updated
Why ultimate?
FYI, you can disable the regular bars (so that they don't overlap with this indicator) by click on the eye icon next to the ticker on the very top left of the chart.
Manage risk and enjoy!
- It's very configurable (you can select to see the candles or a line, pick the colors, switch between Heiken-Ashi and normal candles, etc.).
- In addition to standard Heiken-Ashi candles, it offers the option of a new, modified calculation of the candles different than the standard Heiken-Ashi calculation.
- It can work based off the existing candles of the chart or it can force working based off normal candles regardless of any non-standard candles loaded in the current chart.
- It can add the Heiken-Ashi calculation (or the modified one) twice, thus intensifying the effect.
FYI, you can disable the regular bars (so that they don't overlap with this indicator) by click on the eye icon next to the ticker on the very top left of the chart.
Manage risk and enjoy!
Release Notes
Updates:- Fixed bug.
- One feature I forgot to mention: it provides a setting (factor, defaulting to 1.0) which allows to increase or decrease the Heiken-Ashi effect.
- I made a "non-overlay" version of this script "Ultimate Heiken-Ashi (non-overlay)" which doesn't load in the same chart as the price but in a separate pane under the price.
- I disabled the main price candles (from the eye icon, as mentioned in initial post) so that it doesn't overlap with the script candles.
Open-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.
Join free discord.gg/wDTkRnS or t.me/TradersForecast
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.