1. Provide all 'new' candles for you.
2. Provide entries and exits.
The purpose of this indicator is to provide a different set of candles that will allow you to see trends in the price data easier by smoothing it over and providing a slightly modified Heikin Ashi candle formula (no, it is not equivalent to the Heikin Ashi formula; i.e., the OHLC/4 for the opening that it commonly uses)
The indicator is fairly straightforward in its design as well, so this description will remain brief for the time being.
Essentially, what we did is create our own candle system. Then we installed buy and sell signals on those candles in order to give users super tight entries and exits.
Simple put, this is a must-have in any trading suite. These candles are not exact replicas of the Heikin Ashi, but rather a clever modification that allows for easier trend reading whilst still allowing you to exit at the tippy top or enter at the very bottom of a trend per the actual prices on the chart.
Here’s one major example:
Here we can see the indicator calling a sell before a major fall and not re-calling it until the precipitous negative price action completely exhausts itself.
For some charts and time frames, you may need to tinker with the metrics in the control panel slightly (i.e., change the period and also the 'fastener' settings ever so slightly). Make sure to backtest after any and all changes that you make in the control panel and understand that different settings work better in different situations for different coins if you're looking to absolutely optimize this indicator for it to perform its best.
This is not necessary, but something that you all may find helpful as you're trading.
If you have purchased this indicator and you have any additional questions/concerns, please do not hesitate to reach out to me through here or via my other channels I have specified (TradingView does not allow me to post links; you know how to reach me).
Also, if you are interested in purchasing and have not done so yet, please reach out at your earliest convenience.
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact librehash for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.
Warning: please read before requesting access.
Twitter = https://twitter.com/librehash
Website = librehash.org
GIt = git.librehash.com
Docs = docs.libreahsh.com