The Heikin Ashi Trend Indicator (HAT) used to determine the price direction of an asset, as well as draw attention to when the price direction is changing.
The HAT indicator translates the current close/open/high/low into Heikin Ashi and smooths them a bit using Tilson T3 formula.
Buy signal when Heikin Ashi Close is bigger than Heikin Ashi Open with Tilson T3 smoothing.
Sell signal when Heikin Ashi Open is bigger than Heikin Ashi Close with Tilson T3 smoothing.
Set the 'percentSqueeze' percentage to display possible reversal with light Red/Green crosses.
Green - Up Trend
Light Green - Possible reversal is near
Red - Down Trend
Light Red - Possible reversal is near
Follow for more indicators: https://www.tradingview.com/u/dman103/#p...
Added Bar Color support (optional, default is 'false')
Note that the 'percentSqueeze' objective is to notify the user (change trend color to a lighter color) when trend line is near reversal based on that percent value.
Will consider adding auto Squeeze percentage calculation for the percent Squeeze parameter based on price range.