Enhanced Heiken Ashi Indicator
- Indicators
-
David Ben Svaiter
I've been an MQL5 developer for years, creating customized solutions for companies and investors. I have over 40 years in Information Security, as well as being a developer of .NET (VB and C#), MS-SQL, SQLite and ASMx32 and x64 solutions. - Version: 2.1
- Updated: 24 January 2024
- Activations: 5
HAshi-E is an enhanced way to analyze Heiken-Ashi signals.
Briefing:
Heiken-Ashi is particularly valued for its ability to filter out short-term volatility, making it a preferred tool for identifying and following trends, helps in decision-making regarding entry and exit points, and assists in distinguishing between false signals and genuine trend reversals. Unlike traditional candlestick charts, Heiken-Ashi candles are calculated using average values of previous bars, creating a smoother, more easily interpretable visual representation.
Its main benefit is also why most people don't read it as they should. Since the Heiken-Ashi candles contain information about the averages and are usually placed in front of the asset candles, it's normal to see people confused by the colors and shapes and generally taking entries or exits at an inappropriate or late time.
Due to this, we created HAshi-E, an enhanced view for the traditional Heiken-Ashi indicator!
Features of HAshi-E (Chart version):
- Different Views of the Same Data: HAshi-E can plot not only the traditional Heiken-Ashi candles, but also Lines, Histogram, and Bars.
- Custom colors in a Heat Map mode: HAshi-E does not rely on only two colors but FOUR to provide a kind of heat map, making it easy for users to detect the trend's strength.
- Line on the Chart with unique Width and Offset: HAshi-E stands out from the traditional Heiken Ashi chart because it doesn't overshadow the assets' original candles if you use COLORLINE mode! You can configure HAshi-E (Chart version) to display a line with a considerable width setting and shift it up or down from the candles. A new and comfortable way to get Heiken Ashi on your charts.
- No more overshadowed candles: Most people claim that Heiken-Ashi candles are difficult to interpret and overshadow the original candles. With our Hashi-E (chart version), you can get the colors of the HA heat map over the original candles with user-configured width for easier viewing.
Easy Integration with Expert Advisors (EAs): HAshi-E extends into the domain of Expert Advisors, offering a distinct advantage for automated trading strategies supported by traditional Heiken-Ashi indicators, that is, the inclusion of the main Heiken fields (body and wicks), as well our color field that simplifies the implementation of the strategy that hinges on-trend color changes. This seamless and efficient integration enhances EAs' capabilities in trend analysis.
OBS: if you prefer HASHI-E in a separate window, you will find it here in the Market.
