So here are the results after a small coding exercise. The standard Heiken Ashi formula is in play for rising / falling "average" bars however I have coded the PLA into the mix as follows:
If HA goes negative, but PLA is still positive we get light green bars, instead of red.
If HA goes positive but PLA is still negative we get salmon bars, instead of green.
The result shows weakness in a trend and then a clear reversal signal confirmed by the PLA instead of a stoplight red green for every minor pullback etc.
Obviously the subjectivity comes into play based on an opinion of where the trend is going. Light green bars at a presumed Top can signal a reversal to the down side, whereas light green bars in the middle of a trend simply signify some responsive selling, profit taking, resistance, etc.
Thanks @Fat Tails for the Heiken Ashi V4... It's taken me a long time to figure out how to modify your bars but I think I now understand what you're doing in there. Very cool Plot Override. I had to add two new plots to make this happen. One for the OnBarUpdate section to store the PLA values and a second one to be consumed inside the Plot Override populated from the first plot with the (idx) value inside the loop. Rising / Falling keywords didn't work for me inside the Plot Override loop so I just used > previous bar < previous bar for my conditions and it seems to work
I'm happy to update this thread. I am still enjoying the UTB's and using them as my primary bar type on a daily basis. I've now had the chance to compare them, over and over again, with other bar types including Renko and Volume which I keep coming back to for deeper analysis and I still can't find anything that does a better job. If I say that they've paid for themselves over and over again I'd be taking away from all the other factors that go into being a consistently profitable trader, we all know it takes more than a magic bar type, but I wouldn't be telling the whole story either if I didn't say that this choice in bar type has improved my entries and exits substantially. Additionally, and I think I said this initially, they smooth my indicators. I've been playing around lately with the D9 Particle Oscillator from the Elite section comparing it to the PLA and I'm finding this to be a winning combination.
The following 3 users say Thank You to WolfieWolf for this post:
Topstep, sorry for my slow response. I have compared the UTB's with both of the bar types you mentioned. I have, in fact, purchased the Logik Dynamic Range and there is no comparison. I completed my trial of the RJay time adaptive range bars and didn't go ahead with a purchase and I do not use the Logik Dynamic bars at all.
The following user says Thank You to WolfieWolf for this post:
I have already figured out how this bar works.
I have filled out the activation form : Activate & Register Your UTBs » DAY TRADING DIVERGENCE.com
without paying any thing. Bars were activated yesterday and could test this bar. Today it is not working anymore, received an email about sending paypall payment receipt and of course I do not have that.
The bar is formed with a bunch of indicators, the ADX, JurikDMX and JurikJMA. You could see on the chart that the bars form a parabolic line. I think you can get the same by implementing the heikenasi.
$500 for this bar? For me not!
If you want to try it just fill in the activation form but be quick with testing this bar they will quickly mail you about the payment.