Vervoort Heiken Ashi Candlestick Oscillator

Bitcoin / U.S. dollarBitstamp

Description

⋅ Nov 10, 2014 10:41 PM

Heiken-Ashi Candlestick Oscillator (HACO), by Sylvian Vervoort, is a digital oscillator version of the colored candlesticks.

Explanation from Vervoort:

"HACO is not meant to be an automatic trading system, so when there is a buy or sell signal from HACO, make sure it is confirmed by other TA techniques. HACO will certainly aid in signaling buy/sell opportunities and help you hold on to a trade, making it more profitable. The behavior of HACO is closely related to the level and speed of price change. It can be used on charts of any time frame ranging from intraday to monthly."

HACO has 2 configurable length parameters - "UP TEMA length" and "Down TEMA length". Vervoort suggests having them the same value.

I have also added an option to color the bars (overlay mode).

More info:
[S&C 2008/12] Trading with the Heiken-Ashi Candlestick Oscillator - Sylvian Vervoort

List of my other indicators:
- GDoc: docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
- Chart: tradingview.com/v/4IneGo8h/

Comments

lebbins

⋅ Sep 8, 2016 1:19 AM

Hi, can I ask whether this indicator has to be used on HA charts or can it be used on normal candlesticks charts. I noticed the values of the indicators are indicator when I switch chart type. Wondering what is the correct chart type to use and what would be the adjustment to the source code if I need to use it in candlesticks charts (or renko charts) instead of HA charts?

Kumotrader

⋅ Jan 13, 2017 5:25 PM

@lebbins, I was wondering the same thing.

mikelines

⋅ Feb 11, 2018 3:08 PM

I am attempting to understand how to plot the bars as this indicator does and for some reason, I keep getting lines instead of bars. Here is the sample code I used to test the concept - any idea why this is showing lines instead of bars?

study("My Script MSL", shorttitle="MyScript")
rising = close>close[1] ? 1 : -1
bcolor = rising>0 ? green : red
plot (rising, style=columns, color=bcolor)
barcolor (bcolor)

mikelines

⋅ Feb 11, 2018 3:10 PM

@mikelines, the close did not copy the bracket - it should show close>close[1] ? 1 : -1

cooney_s

⋅ Nov 10, 2014 11:57 PM

Love your work LazyBear...always top shelf!

LazyBear

⋅ Nov 11, 2014 1:05 AM

Thanks.

Trading_Lounge

⋅ Oct 3, 2023 10:05 PM

Thanks LazyBear for this accurate Indicator. I added alerts,,,for buy or sell...but i fail to implement the trendchange in both directions with a single alert.
alertcondition(upw and not upw[1], title="Buy Signal", message="Buy signal detected")
alertcondition(dnw and not dnw[1], title="Sell Signal", message="Sell signal detected")

taniamarcela031997

⋅ Sep 16, 2023 8:44 PM

This indicator is also for mt5?

QuantitativeExhaustion

⋅ Feb 6, 2015 12:39 AM

People are searching out chart overlays with candle indicators that work better than traditional candles.

Thanks for your constant research and trials.

LazyBear

⋅ Feb 14, 2015 6:53 PM