Heiken Ashi 3 Candle Formation

The purpose of this indicator is to identify a Heiken Ashi candle formation involving three candles and provide an alert.

Heiken Ashi Formation:

Bullish...Bearish...Bullish: An upward-pointing arrow is shown at the closing of the green Heiken Ashi candle formed after a red one.

Bearish...Bullish...Bearish: A downward-pointing arrow is displayed at the closing of the red Heiken Ashi candle formed after a green one.

An alert is triggered only if there is an opposing Heiken Ashi candle in the middle of the other Heiken Ashi candles. The trigger occurs at the closing of the third candle. For example, if the formation is Bullish, Bearish, and Bullish (with the third being Bullish), or vice versa, Bearish, Bullish, and Bearish (with the third being Bearish), an alert must be triggered after the third candle's close.

Second Alert:

A rectangle is used to highlight when two Heiken Ashi candles form in the middle of other Heiken Ashi candles

An alert triggers when price come back to retest highlighted rectangle

Bearish...Bullish...Bullish...Bearish: The last green candle is highlighted with a rectangle.

Bullish...Bearish...Bearish...Bullish: The last red candle is highlighted with a rectangle."

All Time Frame 1Minute to 1 Month time frame