MrBetonBlocks

MrBS:EMA/SMA/HMA (Heikin Ashi Calc)

This indicator allows you to base the MA calculation from Heikin Ashi values on normal charts and/or the real OHLC values while looking at Heikin Ashi.

There are 3 MA types you can select - EMA / SMA / HMA

The colour is based on the slope.

I made this to help me visualize my DMI+ strategy, when I was looking at taking signals from Heikin Ashi but looking at candlesticks . Turns out, I was going down the wrong road. Now I'm looking into using the real OHLC values for generating signals but watching the Heikin Ashi chart as I find it easier to see trends on it.

Hopefully its useful to some people, and if you have any suggestions for improvements I'd love to know.
Release Notes: Minor Update to make it line up with the Trend Friend Strategy update I am about to upload. I have changed it so instead of being an overlay, it will plot the DMI and ADX in a pane, so now we need the MA filter to be a separate indicator that can be overlaid.
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.

Want to use this script on a chart?
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