CM Heikin-Ashi Candlesticks_V1

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Heikin-Ashi Paint Bars.

Paints Candlesticks or OHLC Bars The Exact Same as Traditional Heikin-Ashi Bars
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// Plots Color Of Heikin-Ashi Bars while Viewing Candlestics or Bars
//Works on Candlesticks and OHLC Bars - Does now work on Heikin-Ashi bars - But I have verified its accuracy
// Created By User ChrisMoody 1-30-2014 with help from Alex in Tech Support

study(title = "CM_Heikin-Ashi_Candlesticks_V1", shorttitle="CM_Heik-Candles",overlay=true)

haclose = ((open + high + low + close)/4)//[smoothing]
haopen = na(haopen[1]) ? (open + close)/2 : (haopen[1] + haclose[1]) / 2

heikUpColor() => haclose > haopen
heikDownColor() => haclose <= haopen

barcolor(heikUpColor() ? aqua: heikDownColor() ? red : na)
Thank you
+1 Reply
No problem. I've been using this for close to 10 years. Will be coding the version that allows for "Smoothing" at some point.
Hey Chris your idea of using Heikin-Ashi Bars with Pivot Level is great !!!!
ChrisMoody PRO IlyasShaikh
When I only traded Pivot levels as the system I used for several years I used this Indicator for entry. for example if price was falling to a pivot level the bars would be red. Once it touched the pivot level and started to move higher I would enter when the bars changed colors showing upside momentum (I use cyan or aqua as my upside color). There is more to the methodology than that but that's the basics.
+1 Reply
IlyasShaikh ChrisMoody
Got it sir..... Hope we cover this strategy in depth once again in the webinar...
ChrisMoody PRO IlyasShaikh
Remind me to discuss in the Sunday Night Strategy Sessions
+1 Reply
IlyasShaikh ChrisMoody
Sure Chris ...
Codetrader ChrisMoody
Hi Chris,

Please tell me more about Sunday Night Strategy Sessions. Thank you, Chris.
ChrisMoody PRO Codetrader
PM me if you haven't already. I've been gone and I have LOTS of messages to go thru...I'll be caught up by Friday
Super! Do you only code of TV, or platforms as well?
ChrisMoody PRO Greenstream
Which platforms are you referring to?
Very nice! thank you. This way I can plan my entries without switching between heikin ashi candles and traditional candles.
thank you , when will you make them smoothed? i am looking forward for it.
+1 Reply
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