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Heikin Ashi Indicator - Variation 2 for TradeStation

Summary

Screen Shots

The Heikin Ashi indicator is a technique that modifies the candlesticks that you would normally use to base your decisions on, as well as has it's own set of rules and techniques for interpreting the Heikin Ashi indicator. Included below is the ELD file and a sample workspace for TradeStation.

Usage

Here's a variation of the Heikin Ashi Indicator technique that looks more like a time line than a powerful indicator... but don't let looks fool you! This variation of the indicator is very, very powerful! It allows for the use of the Heikin Ashi techniques, without having to replace your candlesticks. Just look for the color changes in the indicator, and you know that you've changed trends. The original author (who's name is unknown) claims that this version of the Heikin Ashi Indicator works best on longer time frames, such as weekly and monthly, but I've used it in minute charts, and have had great success as well, though more choppy, as you can see in the images.