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Heikin Ashi indicator with bar outline same color as bar?
There are no words for the appreciation feedback that could adequately do the job.
There is a flood of ideas that come to mind every time you make a indicator contribution, especially though with this one. I can't wait to give this a whirl. I like the "offset" ability and the first thing I'll try is the most basic, yet now elegant notion of a crossover. one slightly longer and one slightly offset....it is where I started in trading 20 years ago.
I'll end up asking about a cycle period option, when I can do so in terms that honor your work.
Take something simple, add some colors and a Japanese name, and a new fad is born. Does anybody remember PLDots or MomDots?
This is Heikin-Ashi:
And this is here elder brother PL-Dot:
I am not showing a picture of Mom-Dot, because he does not like it.
The three of thm don't look it, but they were born brothers and sister. PLDot is the first born, Mom-Dot came second and Heikin-Ashi is their younger sister. Let me explain:
Displaced 3-period averages
If you look at a Heikin-Ashi trend you are in fact staring at a moving average cross!
Heikin-Ashi trend = Weighted(1) versus EMA(Weighted, 3) displaced by 1 bar
Now if you look at PLDots, you are observing another moving average
PL-Dot trend = SMA(1) versus SMA(Typical, 3) displaced by 1 bar
And MOM-Dot (no picture available) is a fat guy who is bit slower than his brother PL-Dot. He lags one bar.
Mom-Dot trend = SMA(1) versus SMA(Typical, 3) displaced by 2 bars
Now, let us have a look at a chart with PLDot and his pretty sister. The difference between the weighted price and the typical price is negligible. The 3 period EMA is not very different from a 3 period SMA, so you may expect very similar trend definitions, but judge by yourself.
Do you prefer Heikin-Ashi to PLDots or Mom-Dots? Either you have been cheated by Heikin-Ashi's fancy appearance, or it might be as well a compensational thing.
For those who are interested in the subject, here are two links to a basic explanation of the concept. It is nothing really fancy. Displaced moving averages were another fad back in the 1908s and 1990. For example, you will also
find a displaced moving average in the books by Joe diNapoli. He used a 3-period SMA displaced by 3 bars, which he called 3x3. That is another one who lags the Mom Dots by one bar and the PL Dots by 2. It seems that everybody who "invented" a new period for a moving average became a well-reputated trader.
Here are the links to Drummond Geometry explaining the PLDots:
That is exactly what I was referring to when I said I'd be asking for a cycle period HA and returning to where it all started...two MA's one slightly shorter, one displaced just a bar or two.
is it posible to change your Heikin Ashi v4 so that it dont paint the bars, it has only to change the shape of the bars. The idea (test) is that for example @Erez MASlopeMulti indicator paints the (RenkoHybrid other the UniRenko) bars with your Heikin Ashi version,
and Fat Tails, it is not an important request, I`m only trying something out, when you dont have time I understand that.
I think that this is too much shaping. Hybrid-Renko or UniRenko already distort price action to emphasize the trend. Why would you then distort the distorted price series again? What sense does it make to superpose another artificial shape to the first artificial shape?
Technically, the Heikin-Ashi indicator suppresses the original OHLC candles and paints new Heikin-Ashi candles. You cannot use any other indicator to paint those candles.
