ChrisMoody

Custom Indicator! Heikin-Ashi Paint Bar Study + Lower Study

NASDAQ:MU   MICRON TECHNOLOGY INC
2876 11 21
I Like how Heikin-Ashi Bars show Trend. But I don’t like how they open at the midpoint of the previous bar so you can’t see Price Action, or GAPS. This Paint Bar Indicator solves that issue. I created the lower Indicator b/c currently if you want Paint Bars for any other candlestick patterns it’s not possible to plot both. Also more advanced version is coming soon. Important Details are listed in the 1st Post.
ChrisMoody PRO
3 years ago
If Your Not Sure How To Load Custom Indicators on Your Chart. Video Below Explains

http://vimeopro.com/user14689865/tradingviewcom-how-to-videos
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TheLark PRO ChrisMoody
3 years ago
Thanks for the shout out in video ;D
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ChrisMoody PRO TheLark
3 years ago
Well deserved...I didn't think it was possible to plot your Lark Bars.
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TheLark PRO ChrisMoody
3 years ago
Just a little code trickery hehe, I'll hopefully be surprising you with some new ones soon
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liw0 TheLark
3 years ago
I want to thank you both for posting your custom indicators. I've learnt a lot from them!
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TheLark PRO liw0
3 years ago
No problem, great to hear that you got something out of them!
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ChrisMoody PRO liw0
3 years ago
So now TheLark gets praise in my own indicator post. Unreal. I'll be in your shadow forever.
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ChrisMoody PRO
3 years ago
***Currently these paint bars can be plotted on Candlesticks, Hollow Candlesticks, and Price Bars. The study WILL NOT WORK if you plot with Traditional Heikin-Ashi Bars, b/c the study is reading the Open, High, Low Close of X amount of bars and Traditional Heik Bars always open at the midpoint of the previous bar. However, to prove they work I suggest using the new Grid Feature and plot two charts on top of each other. Make sure they are the same Symbol and Same Time Frame. In one of the pains plot this indicator on Candlesticks, I recommend Hollow Candlesticks. On the other chart Use Traditional Heikin-Ashi Bars and you will see the accuracy and benefits.


*** I recommend using Hollow Candlesticks b/c it allows you to see the exact price action. No matter what the color of the bar is if it is a hollow bar the the close was greater than the open (typical Green Candlestick), and if it is a solid bar the close was less than the open(Typical Red Candlestick).


There are many ways to use this study. This example uses Chuck Hughes 50 and 100 EMA. Note a pullback to the Upper 50 EMA then waiting for a confirming change in the Heikin-Ashi Bar Color = Gives Great Entry. This is assuming with Chuck’s methodology That Stocks are Trending Up and ideally reaching new 52 Week Highs.
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sublimares2
3 years ago
Very much appreciate it your indicators. What about a Wilder RSI, STO slow / fast?
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Algokid PRO
3 years ago
Good stuff Chris !! keep it up.
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aryahi29 PRO
3 years ago
ALL YOUR INDICATORS ARE SIMPLY AMAZING!!!! THANK YOU CHRIS.
I DOWNLOADED TRIPLE-EMA_LOWEWR HISTOGRAM CODE.
DOES THE EMA_LOWER = EMA-2*STDEV?

I LIKE TO HAVE SIMILAR HISTOGRAM--
FOR BOLLINGER BANDS_LOW. IF I CHANGE THE EMA INTO SMA.. WILL THE CODE WORK?
ARYAHI
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