Superalgos - Heikin Ashi Candles

Heikin Ashi Candles - Heikin Indicator

Summary: This indicator produces the Heikin Ashi style candles.

Heikin Ashi On the Charts

Heikin Ashi means "average bar" in Japanese. It is useful for making candlestick chart more readable and trends easier to analyse.

Above: The Heikin Ashi .

The Heikin Ashi candle shares some characteristics of standard candles as it contains the same parameters of open, close, maximum and mimimun.

The calculation of the open and close parameters differ from standard candles as they are calculated as follows:

Close; Average price of the current bar: 0.25 * (Open + Close + Maximum + Minimum)

Open; The Midpoint of the previous bar: 0.5 * (Previous.Open + Previous.Close)

Heikin Ashi candles look smoother as they are essentially taking an average of the price movement. This has the effect of smoothing out price action and highlighting a trend with the same colored candles.

Above: The Standard .

Products & Properties

The following properties are available to access:

Product Name	Product Variable	Properties
Heikin-Ashi Candles	heikincandle	open, close, max, min, HeikinDirection

The HeikinDirection property can have the following values:

1: Positive direction (green candle)

-1: Negative direction (red candle)

0: No direction; close value is the same as the open value.

Examples:

 chart.at01hs.heikincandle.open 
chart.at04hs.heikincandle.close 
chart.at01hs.heikincandle.HeikinDirection == '1'

Heikin Data Mine — TOC

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1. Heikin By @Raplh2502

2. Heikin Ashi Candles - Heikin Indicator

3. Heikin Ashi Supertrend - Heikin Indicator

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