ChrisMoody

CM_Modified_Heikin-Ashi_TrendBars

Created By Request for lucalucious

Allows for EMA Smoothing with different values for Up and Down Trend.

Ability to Plot EMA to see Trend Filter
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
//Created by Chrismoody on 7/22/2014 By Request for user lucalucious
//Modified Heikinashi with EMA Filter...
//Choice To Plot EMA Trend Is Based Off Of
study(title = "CM_Modified_Heik_Trend_Bars", shorttitle="CM_TrendBars",overlay=true)
note = input(false, title="Lower Numbers = More Sensitive to Price Change...Higher Numbers = Less Sensitive")
uema = input(34, minval=1, maxval=50, title="EMA UpTrend")
dema = input(34, minval=1, maxval=50, title="EMA DownTrend")
shema = input(false, title="Show EMA Trend is Based On?")

haclose = (open + high + low + close)/4
haopen = na(haopen[1]) ? (open + close)/2 : (haopen[1] + haclose[1]) / 2

upEma = ema(haclose, uema)
downEma = ema(haopen, dema)

emaAvg = (upEma + downEma)/2

heikUpColor() => hlc3 >= emaAvg
heikDownColor() => hlc3 < emaAvg

col = hlc3 >= emaAvg[1] ? lime : hlc3 < emaAvg[1] ? red : white

barcolor(heikUpColor() ? lime: heikDownColor() ? red : na)
plot(shema and emaAvg ? emaAvg : na, title="EMA UpTrend", style=line, linewidth=3, color=col)

Comments

Hello and thank you for this great script.
I have one question...
Does the current bar can change color during it's period?
Do we need to wait until the close of a bar to know it's final color?

thanks in advance
+20 Reply
ata011 totoro3333
@totoro3333, you should make your decion when the candle has closed
Reply
for what time frame?
+12 Reply
Hi Chris, how does this work?
+7 Reply
Hey mate
can we apply this in the strategy tester to see how it performs on the daily chart for fx pairs over the years?
+4 Reply
how do i use this script i am new here
+3 Reply
Have made some serious money on nadex with this script, thanks
+3 Reply
Hello this is a great indicator!One question though ...I am new on this and i have tried out to create an alert when colours turn from red to green and the opposite.
Can it be done?
+1 Reply
ChrisMoody xariskontos
Funny You asked...I just posted a video on ho wto do this...Go to the thread below and check out the video...If you have trouble following the instructions for this indicator make a request on the link below...and I will help you out...


+1 Reply
Needs recoding to work on pine v4
Reply
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