Smoothed Heikin Ashi MTF

Heikin Ashi with the noise taken out before the candles are built, not after. Smoothed Heikin Ashi MTF smooths the raw open, high, low and close first, builds the Heikin Ashi candle from those, and smooths the result once more, so the recursion that makes Heikin Ashi useful is fed clean input instead of dragging noise along with it. The side is the sign of the candle's body, and equality keeps the previous side rather than inventing a new one. It is free: no trial, no locked features, no upgrade page.

Smoothing happens twice and from two different directions. First an exponential average is applied to each of the four raw series, and a Heikin Ashi candle is built from the smoothed open, high, low and close. Then the four series of that candle are smoothed once more. The order is the whole point: smoothing price before the candles rather than the finished candles is what gives the Heikin Ashi recursion a clean input.

The side is the sign of the second candle's body: a close above the open means up. Equality inherits the previous side rather than inventing a new one, so a doji does not produce a flip. The signal is that side changing.

What is on the chart

Drawn in the price window: the smoothed Heikin Ashi close as a line coloured by the side of the body and unbroken across the turn, the smoothed candle's own high and low as a band around it, two shades between them, and arrows on the bar where the side changed.

The panel

A canvas panel on the price chart, draggable, collapsible, closeable. It shows the timeframe in force and the setting values actually being used. It says what the last closed bar was: a BUY signal, a SELL signal, or neither. And it says whether the numbers on screen came from the properties dialog or from the panel, and how many of them were changed by hand.

Below that sit the settings the panel can move, with their current values. The gear opens a three-tab sheet.

Values covers the timeframe, the first smoothing applied to the raw prices, six by default, and the second smoothing applied to the Heikin Ashi candle, two by default. Styles covers the palette, the line and its width, the arrow size, the candle's high and low and the two shades. Every Values row has steppers, a range and a sentence of help.

The Alerts tab covers the master switch, the per event switches, the channels, the cooldown in minutes and a test alert.

Three colour schemes: dark, light, and a colour-blind safe one that uses blue and orange rather than red and green. Everything about the panel, including every value changed on the sheet, is stored per chart and survives a timeframe change and a terminal restart. The interface is English.

Alerts

Off out of the box. Three events: a BUY signal, a SELL signal, and a touch of the smoothed Heikin Ashi close, which is the pull back event rather than a flip. Each has a switch of its own.

Channels: a popup window, a sound, a push to the mobile terminal and e-mail. There are per-event and per-channel switches, and a cooldown that defaults to two hours.

Alerts fire on the last closed bar. Two further alerts, off by default, speak on the forming bar within a chosen number of seconds of its close, and they are labelled early because a flip that exists mid-bar can un-happen. Telegram is not part of this product.

Signals on the forming bar

There is one switch that matters more than the others, and it is in the Values tab as well as in the inputs: whether buffers and arrows are allowed on the bar that is still forming.

With it on, which is the shipped default, you see a flip as soon as the market makes it. Sometimes that flip is undone before the bar closes and the arrow disappears. With it off, nothing is written on the forming bar at all: there is no repaint of any kind, and every signal arrives one bar late by construction.

Both behaviours are legitimate. The product does not pick for you and it does not hide which one it is doing: the panel and the setting name both say so.

Multi-timeframe

The Timeframe setting computes on a higher timeframe and draws the result here. Only closed senior bars are read: a chart bar shows the newest senior bar that had already closed by that chart bar's own close, so the flip lands on the bar that closes together with the senior bar, and nothing is drawn that could not have been known in real time.

The foreign series is built in the background. The first read of it can come back empty, the indicator retries, and the panel says whether it is waiting for a download or looking at a genuine shortage of history. It never fails initialisation over missing bars.

Reading it from an EA

Sixteen buffers, all readable through iCustom and CopyBuffer. Buffer 0, Buy, carries the arrow price on a BUY bar and EMPTY_VALUE otherwise, and is not drawn; buffer 1, Sell, is the same for a SELL. Buffers 2 to 5 belong to the two fills and are display plumbing, not for reading. Buffer 6 is the smoothed Heikin Ashi close while the trend is up and buffer 7 is the same line while it is down; on the turning bar both hold a value, which is what keeps the drawn line unbroken. Buffer 8 is the smoothed candle's high and buffer 9 is its low. Buffers 10 and 11 are the drawn copies of buffers 0 and 1. Buffer 12, Signal, is +1 on a BUY bar, -1 on a SELL bar and 0 otherwise. Buffer 13 is Override, buffer 14 is the smoothed Heikin Ashi close as one unbroken series, and buffer 15 is the trend itself, 0 while up and 1 while down.

Buffer 16 is added by this port and sits after the whole shared map: the open of the second candle. Without it an expert would see the candle's close and never its body, which is what the side is taken from. No index of the shared contract moved.

Buffers 0 and 1 are the contract: never painted, filled on every pass whatever the Styles tab says, and present in the Data Window. Hiding the arrows on the display cannot starve a strategy of the signal, because hiding is done by changing how a plot is drawn and never by emptying a buffer.

An instance created by iCustom is read only and always uses the parameters you passed. The Override buffer lets a strategy detect that a chart instance is running on numbers changed by hand from the panel.

Provenance

This is a port of Smoothed Heikin Ashi. The technique is public and its name carries no author's brand, and this implementation was written from the definition. Two deviations are declared, both about the warm up: all eight exponential averages are seeded with the first value of their series rather than with a mean, and the Heikin Ashi open on the very first bar is the half sum of the smoothed open and close, because the recursion has nothing yet to lean on.

The product is called Smoothed Heikin Ashi MTF because that is the name of the method, not because authorship of the method is claimed here. The original work belongs to its author.

Honest limits

Heikin Ashi is a filter, not a price. The line is not where you can trade, and the candle body says what the smoothed series did rather than what the market printed.

Two rounds of smoothing turn late. A long first window makes the product very calm and very slow, and the two cannot be separated.

The two smoothing windows move every turn the product will ever show. Two configurations give two different sets of arrows and neither of them is the true one.

No profit figure, win rate or backtest result is claimed here.