This indicator plots the difference between the close of the current candle and the Heiken Ashi candle.
The script allows for smoothing of the result using a simple moving average .
The plot line also shows the color of the underlying Heiken Ashi candle.
It can be used in all markets.
There are a number of ways this can be used
For trends: (a) Enter and exit trades on the crossing of the zero line. (b) Enter and exit trades on the change of the line color. (c) Any combination of the above (d) Use it as a confirmation indicator
For Tops & bottoms (a) Extremes of the indicator lines.
I'd suggest using this script along with other indicators.
Thanks to Red1939 for the core code in his Heiken Ashi Line Indicator which was modified & included in this script.