Heikin Ashi Different
The Heikin Ashi technique stands apart due to its unique candlestick charting method. Unlike traditional Japanese candlesticks, Heikin Ashi charts smoothen price movements, making trends and reversals more apparent. This technique utilizes a modified formula to calculate each candle’s open, close, high, and low. Integration of Amibroker data feed enhances the effectiveness of Heikin Ashi analysis, providing real-time market data for precise trend identification.
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//
// This is a modified version of the "Heikin-Ashi HaDiffCO," which is a
// "leading signal" oscillator. May be used with Bollinger or other bands to
// determine buy/cover or sell/short areas. I did not find much value in using
// the HaDiffCO with the Heikin-Ashi candlesticks. The HaDiffCO works well in
// any timeframe. Please post worthwhile modifications (some form of smoothing
// without drag, perhaps?) to this indicator if you come up with any. Thanks
// in advance.
//
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_SECTION_BEGIN("D_Opt HaDiffCO");
/* HaDiffCo for use with Heikin-Ashi Modified Candlestick Chart */
HaClose=(O+H+L+C)/4;
HaOpen=AMA(Ref(HaClose,-1),0.5);
HaHigh=Max(H,Max(HaClose,HaOpen));
HaLow=Min(L,Min(HaClose,HaOpen));
HaDiffCO = HaClose-HaOpen;
Per = Param("MA Periods",8,3,50,1);
Plot(HaDiffCO,"HaDiffCO",colorWhite);
Plot(WMA(HaDiffCO,5),"HaDiffCO",colorRed, styleDots);
Plot(MA(HaDiffCO,per),"MA("+per+")",colorBlue,styleDots);
// Plot Arrows
Buy = Cross(WMA(HaDiffCO,5),MA(HaDiffCO,per));
Short = Cross(MA(HaDiffCO,per),WMA(HaDiffCO,5));
Title = "HaDiffCO";
_SECTION_END();
_SECTION_BEGIN("Bollinger Bands");
P = ParamField("Price field",-1);
Periods = Param("Periods", 15, 2, 100, 1 );
Width = Param("Width", 2, 0, 10, 0.05 );
Color = ParamColor("Color", colorCycle );
Style = ParamStyle("Style");
Plot( BBandTop( P, Periods, Width ), "BBTop" + _PARAM_VALUES(), Color, Style );
Plot( BBandBot( P, Periods, Width ), "BBBot" + _PARAM_VALUES(), Color, Style );
_SECTION_END();