cTrader Heikin-Ashi Indicator

The Heikin Ashi is a type of charting candlestick that originated in Japan in the 18th century by Munehisa Homma who was a rice trader, it is similar to other candlestick charts in that the colour of the candlestick indicates the direction the price is moving. It is very similar to a standard bar chart where each candlestick describes 4 important bits of information for the day which are open & close of the body thickness and high & low of the candlestick wicks.

Formula

• Low = minimum of low, the Heiken-Ashi Open, or the Close
• Open = (Open of previous Haiken-Ashi + Close of previous Heiken-Ashi) / 2

• Close = (open + real high + low + close) / 4
• High = maximum of the high, the Heiken-Ashi Open, or the Close

How Is This Indicator Different?

This version of the Heikin-Ashi indicator differs from what is already available on the internet where the existing type of chart view is automatically hidden so you only see the Heikin-Ashi bars, also, you can select any colour for the bars.

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