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Dan, I truly appreciate your input.
I have been trading 'true' candles on my personal favorite time frame and ranges for a year now. Yes, I'm a year old trader, so still very very fresh. However, I retain knowledge well, but am no intellectual athlete.
I appreciate the picture of the NT7 version, but I am looking for NT8 version.
I 100% agree with you, if you do not have a larger picture of what's going on in the markets, the Heikin Ashi and even UniREnkos could ruin your day in a flash. However, I have a very good startegy and plan for them, so I'm perfectly ok with using them.
What they do not offer is HeikinAshi range bars. Also those HeikinAshi bars do not have an inbuilt smoothing option as had the indicator that I have coded for NinjaTrader 7.
I have not yet dealt with converting the anaHeikinAshi bars indicator to NinjaTrader 8, as there are two options:
- create a new complex bar type
- create an indicator which removes the selected chart bars and replaces them with HeikinAshi bars (same approach as for NT7)
If I follow the approach for NT7
- this is relatively easy to do
- the bars painted on the chart will look like real bars
- but you won't be able to apply indicators to the fancy HeikinAshi bars, but all indicators will be applied to the underlying bar series
Example:
- you open a range chart
- then apply the HeikinAshi indicator which removes the range bars and replaces them with HeikinAshi bars
- all indicators applied to that chart will be applied to the invisible range bars
If you use a genuine bar type, indicators will be applied to that bar type.
a thank you to @Fat Tails for jumping right in as usual... for the benefit of others. Harry, you correctly pointed out the nuance between authentic bars and derivative bars when responding to me a few years ago. Initially I held my view but over time I realized that your input nudged me back onto the right path. You provided the "paint bars" piece and through your contribution frustration on a ruinous path was avoided.
Also, your "Auction Bars" are among the most useful, best designed tools I have ever seen. Thank you for that as well.
This item shows the HACO bars with a smoothing factor of 2, meaning two bars...VERY slight. Actually that is the minimum smoothing that can be applied. Note the difference in shape (wicks). I have added a solid dash identified as Close Dot to show where the actual bar close occurred. The grouping of colored bars and the smoothing, while it is visually appealing, is a deception. The bar calculation using the minimum smoothing is a significantly different and IMO inaccurate chart.
