Chart Upgrades - Heikin Ashi Candles and Indicator

Discussion in 'Timetotrade News' started by Timetotrade, Apr 2, 2013.

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  1. Timetotrade

    Timetotrade Administrator

    Heikin Ashi candles and a related Heikin Ashi Trend indicator have been added to the charts. The Heikin Ashi candle is used to identify trends, with continuous green candles signifying a strong bullish trend and red candles signalling a bearish trend.

    The formula used to calculate the Heikin Ashi Open, High, Low and Close candle values is:

    Code:
    Close = (Open + High + Low + Close) / 4
    Open  = (Previous Heikin Ashi Open + Previous Heikin Ashi Close ) / 2
    High  = Maximum of the Heikin Ashi Open, Heikin Ashi Close or interval High
    Low  = Minimum of the Heikin Ashi Open, Heikin Ashi Close or interval Low
    To select the Heikin Ashi candle, use the chart settings and select it from the chart display options as illustrated:

    Heikin Ashi Candles.png


    In addition the Heikin Ashi values and a Heikin Ashi Trend indicator has been added to the Indicator choices as illustrated:

    Heikin Ashi Indicator.png

    The Heikin Ashi Trend indicator is the difference between the Close and Open value of the Heikin Ashi candle where greater than zero indicates a bullish trend and less than zero indicates a bearish trend. Crossing zero indicates a change of trend.
     

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