BrioQuant Heiken Ashi
- Indicators
-
Mitchell Dean Ede
Trader and toolmaker, working with the markets since 2010. BrioQuant builds clean MetaTrader 5 chart tools for traders who want useful context without clutter: each indicator focuses on one job, uses clear inputs and avoids trade signals or profit promises. Products and support are published and - Version: 1.10
Heiken Ashi candles drawn in the main chart window, with the option to hide the chart's own candles so only the Heiken Ashi bodies remain.
Heiken Ashi averages each bar with the one before it. Direction changes less often than on standard candles, which makes a trend easier to hold and a stall easier to see. It is a different way of drawing the same price, not a signal.
What it does
- Plots Heiken Ashi open, high, low and close as coloured candles
- Separate colours for rising and falling candles
- Optionally hides the chart's own candles while attached, and puts them back when removed
- Publishes its values to the Data Window, readable from other programs
How it is calculated
- Close: the average of the bar's open, high, low and close
- Open: the midpoint of the previous Heiken Ashi open and close
- High and low: the extremes of the bar and of the Heiken Ashi body
Inputs
- Bull candle - colour for a rising candle
- Bear candle - colour for a falling candle
- Hide the chart's own candles while attached - on or off
Notes
Closed bars do not repaint. The forming bar updates with price, as it should.
With the hiding option on, the original chart colours are stored and put back when the indicator is removed, including after a terminal restart. If a second copy is attached it leaves the colours to the first one.
Heiken Ashi is a way of drawing price, not a trading system. It lags ordinary candles by design, and the open and close it shows are averages rather than traded prices.
