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Buy Sell Heiken Ashi Color Change Indicator

This is a BUY/SELL indicator with voice alert based on the color change in the Heiken Ashi indicator, working in all timeframes and all currencies.

Signals are generated based on a user defined number of bars before the color change in the Heiken Ashi indicator and a user defined number of bars after the color change. Different settings may be used for Buy and Sell signals based on price being above or below a user defined MA.


Recommendations on usage

The strategy to use the indicator is simple, add the indicator on the chart and set the desired value for the "Use different Buy Sell settings based on a user defined MA" input parameter.

If "Use different Buy Sell settings based on a user defined MA" input parameter is set to True, set the values for the other input parameters for the MA, bars before and bars after for Buy and Sell signals for the two scenarios, price above the defined MA and price below the defined MA.

If price is above the MA and the Buy signal is triggered, go long. If the Sell signal is triggered close all open Buy orders and DO NOT GO SHORT.

If price is below the MA and the Sell signal is triggered, go short. If the Buy signal is triggered close all open Sell orders and DO NOT GO LONG.

If "Use different Buy Sell settings based on a user defined MA" input parameter is set to False, set the values for bars before and bars after input parameters. For triggering the Buy and Sell signals, the same settings for bars before and bars after color change will be used. If Buy signal is triggered close all open Sell orders and go long. If Sell signal is triggered, close all open Buy orders and go short.

The values entered for all bars before and bars after input parameters cannot be < 1. The value entered for bars before and bars after input parameters cannot be < 1. If user enters a value < 1, system will change automatically the value to 1 and this change is logged in the log file.

It is not recommended to use this indicator alone... You should combine it with other indicators, candlestick patterns, support/resistance lines, etc, in order to make your Buy or Sell decision.


Input parameters

  • Use different Buy Sell settings based on a user defined MA - default = true
  • No of periods for the MA - default = 200
  • MA method for the MA - default = MODE_EMA
  • Applied price for the MA - default = PRICE_CLOSE
  • Bars before clr change to trigger Buy signal, price above MA - default = 2
  • Bars after clr change to trigger Buy signal, price above MA - default = 1
  • Bars before clr change to trigger Sell signal, price above MA - default = 8
  • Bars after clr change to trigger Sell signal, price above MA - default = 1
  • Bars before clr change to trigger Sell signal, price below MA - default = 2
  • Bars after clr change to trigger Sell signal, price below MA - default = 1
  • Bars before clr change to trigger Buy signal, price below MA - default = 8
  • Bars after clr change to trigger Buy signal, price below MA - default = 1
  • Use different Buy Sell settings based on a user defined MA - default = false
  • Bars before color change to trigger Buy or Sell signal - default = 3
  • Bars after color change to trigger Buy or Sell signal - default = 2
  • Number of bars to use for signal, 0-use all available bars - default = 1000. To use all available chart bars, set this input parameter to 0.
  • Enable voice alert when signal is triggered - default = true

Author

George Cosoveanu - george_57@yahoo.com

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