Heikin - Ashi Candlesticks

Attribute found! :P

[citation="'Using The Heikin-Ashi Technique', by Dan Valcu Stocks & Commodities Feb 2004 www.traders.com"]

[target=Price]

haClose := (O+H+L+C)/4;

haOpen := (prev + hist(haClose,1))/2;

haHigh := max(H, haOpen, haClose);

haLow := min(L, haOpen, haClose);

[linestyle=Candle; color=lime green]

if (haOpen < haClose,haOpen,undefined);

if (haOpen < haClose,haHigh,undefined);

if (haOpen < haClose,haLow,undefined);

if (haOpen < haClose,haClose,undefined);

[linestyle=Candle; color=indian red]

If(haOpen >= haClose,haOpen,undefined);

If(haOpen >= haClose,haHigh,undefined);

If(haOpen >= haClose,haLow,undefined);

If(haOpen >= haClose,haClose,undefined);

[linestyle=fill bars; color=indian red; width=4]

If(haOpen >= haClose,haOpen,undefined);

If(haOpen >= haClose,haClose,undefined);

[target

=Price;]

haClose := (

O+H+L+C)/4;

haOpen := (

prev + hist(haClose,1))/2;

haHigh :=

max(H, haOpen, haClose);

haLow :=

min(L, haOpen, haClose);

haCl:=((

O+H+L+C)/4+haOpen+Max((O+H+L+C)/4,Max(H,haOpen))+Min((O+H+L+C)/4,Min(L,haOpen)))/4;

Greenlight:=Hahigh-haopen;

Redlight:=Halow-haOpen;

{I changed this to a difference to net off the minor congestion amounts to whatever if the largest Traffic light tmeasure. this makes the trends more continuous for the coloured bars}

LightDiff:=Greenlight+Redlight;

[linestyle=Candle;color=Green; ]

If

(lightdiff >=0.000,haOpen,undefined);

If

(lightdiff >=0.000, haHigh,undefined);

If

(lightdiff >=0.000, haLow,undefined);

If

(lightdiff >=0.000, haClose,undefined);

[linestyle

=Candle;color=Red; ]

If

(lightdiff <=0.000, haClose,undefined);

If

(lightdiff <=0.000, haLow,undefined);

If

(lightdiff <=0.000, haHigh,undefined);

If

(lightdiff <=0.000,haOpen,undefined);

Hi Cmacdon and Maximo,

Hearty congrats, great effort. Very happy with these solutions. Sorry about the late reply but immediately noticed some visual anomalies that I wanted to figure out first.

Noticed that some of the close priced congestion bars differed in trend between the different solutions as per the super imposed screen shot below.

The answer is easy once you know but it took me some time to figure out. Zooming the page corrects the candle Up/Down anomalies.  I put the formula into an excel spread sheet and it checked out. I also carefully checked the price of the HA candle with the Crosshair under zoom and they were correct.

The HA formula alters all the OHLC prices to 3 decimal point increments at different times. In respect to the Origional Bullcharts HA formula, when the Candle bodies are small, unfilled candles do not visually cope with these fractions and can be filled under normal unzoomed conditions. When you are looking at the “Hard Right Edge” of the chart I think this is Important.

Certainly  Maximo, love your solid fill Up/Down color solution as it solves any ambiguity as to whether the HA bars have closed up or down in narrow ranges.

Cmacdon, as a Black and White candlestick traditionalist, I also love you’re your solution. Just gotta remember to zoom in with congestion bars if you are concerned about the correct open or close.

Thanks guys, Cheers. 

PS: Cmacdon, figure from previous comments that you may have the Sylvain Vervoort book “Capturing profit with technical analysis” Worth buying in your opinion?