BrioQuant Heiken Ashi

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

Related

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.

Tell me what would make this more useful. Post the change you want in the comments - I read every one and build what I can.