Heikin Ashi Trend Indicator

My own implantation of Heikin Ashi which i call HAT.
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:
Release Notes: Added MTF support (optional, default is base time frame)
Added Bar Color support (optional, default is 'false')
Release Notes: Added Alerts
Added optional signal labels (disabled by default)

Appreciation of my work:

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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 a publication is governed by House Rules. You can favorite it to use it on a chart.


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