DinexSpace Heikin Ashi Smoothed

Heikin Ashi Smoothed draws a cleaner version of Heikin Ashi candles. Regular Heikin Ashi already averages prices to reduce noise; this version smooths twice, before and after the Heikin Ashi step, so small swings disappear and longer moves stand out.

How it works

1. The bar's open, high, low and close are smoothed with an exponential moving average (length 10 by default).

2. Heikin Ashi candles are built from those smoothed prices: close = average of the four prices, open = midpoint of the previous candle's open and close, high and low include both.

3. The resulting candles are smoothed again with a second exponential average (length 10 by default). The wicks are kept around the body after smoothing.

- Candles are green when the smoothed close is above the smoothed open and aqua when it is below. Colours can be changed on the Colors tab.

- The four candle values are indicator buffers, so they appear in the Data Window and can be read with iCustom.

Reading it

Long runs of one colour show a steady move, and short alternating candles show a sideways market. Because of the double smoothing, the candles react later than price: they describe the move, they do not anticipate it.

Inputs

Pre-smoothing EMA length, post-smoothing EMA length.

Tip

To see only the smoothed candles, set the chart's own bar colours to "None" in the chart properties.

Limits

- The smoothed candles are not real prices; their open and close are not tradable levels.

- Longer lengths give smoother candles but a later reaction.

- The current candle changes until the bar closes.

The indicator is a chart-reading aid. It does not trade or give signals.