Modifies the Candlesticks that You Would Normally Use
KEY FEATURES
- Very Powerful
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 - Sample Workspace for TradeStation
Included below is the ELD file and a sample workspace for TradeStation.
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.
Chart Examples:
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