Heikin Ashi Delta
For those who love to trade using the Heikin Ashi Candlesticks, here it is a powerful ally: Heikin Ashi Delta. This indicator was presented by Dan Valcu in his book about Heikin Ashi candlesticks called "Heikin Ashi - How To Trade Without Candlestick Patterns" - and by the way this is a very cool book, we totally recommend it.
Even for those of you who don't trade using Heikin Ashi candlesticks could use this Leading Indicator anyway. It is more "nervous" than let's say a Stochastic, but could be used along your trading system as a confirmation tool depending on your trading strategy.
The Heikin Ashi Delta formula is pretty simple, but powerful.
HOW TO "READ" THIS INDICATOR
- The zero-line divides the theoretical Uptrend and Downtrend.
- Colors will help to visually spot UP and DOWN movements. Darker colors identify the Signal-line cross. Bright colors identify the zero-line cross.
- You can spot Divergences between you actual Price Chart and what you read on the Tops & Bottoms of the Heikin Ashi Delta.
- Please remember that this kind of raw calculation used on the indicator makes it very fast, depending on the timeframe of your chart. The lower the timeframe, the faster the indicator will be.
- Signal Line Period.
- Hide the name of the indicator? (great for using this indicator on Mini Charts)
If you like this indicator, all I am asking is a little Review (not a Comment, but a REVIEW!)...
This will mean A LOT to me... And this way I can continue to give away Cool Stuff for Free...
With No Strings Attached! Ever!
Live Long and Prosper!;)