When i was in Japan with some traders colleagues we talked about traditional charting tools from this country and how they changed the way we look at our charts today. Then suddenly one of the japanese traders i have met earlier said "Why not making another charting tool ? Smoother than Heikin-Ashi and including all the information a trader may need but easier to interpret".
So i had the idea of averaging the input and the output of the respective close/open/high and low price using a recursive exponential window functions, each values will be closer to their true value if they are volatile, if they are not then those values will look smoother, the length input represents the reactivity of the candles, high values represents smoother results but less reactive.The goal of those candles is to make all the information easier to interpret by a trader.
500 input length, the price look smoother, supports and resistances are easier to make.
The interpretation of highs and lows are important, the Retrospective Candlestick Chart save you time by showing only huge movements.
can you make it update to pine version 4 or 5, please? That would be great, love that script!
per-aspera-ad-astra
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what a great script, thanks for sharing. how can we go about adding the wicks to be the same color as the candle? would make it a bit neater imho.
NEKSUS_
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absolutely insane!!!!
Please make MTF version
cheatcountry
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Why do you use the c[1] for each instead of using their respective previous values such as h[1], o[1], l[1], etc?
mcbw_
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Simply seeing where they change colors is quite interesting
alexgrover
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@mcbw_, be aware that the filter has a low period smoothing equivalent, i wanted to approach ticks chart smoothing, MA cross may be more suited than a upside/down bar strategy :)
Jittra
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Anyway of making this unto strategy?
alexgrover
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@Jittra, Of course, classics heikin-ashi strategy could work for the retrospectives candles.
can you make it update to pine version 4 or 5, please? That would be great, love that script!