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
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//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
+19 Reply
ata011 totoro3333
@totoro3333, you should make your decion when the candle has closed
Reply
for what time frame?
+11 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
Have made some serious money on nadex with this script, thanks
+3 Reply
how do i use this script i am new here
+2 Reply
Hello Chris,
First off.. TV (and us) are fortunate to have guys like you around here.. :)

Entering and exiting trades based on HA alone is difficult as it doesn't show the actual price bars. This script hugely resolves that issue.

I have slightly modified your script to add:
1. Smoothing of EMA that is displayed on the chart
2. Detect additionally that there are no down wicks (up wicks for short) on the HA bars.

Makes it even more effective!
Reply
DWJJR sud14
@sud14, Would you be willing to share how you did this?
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?
Reply
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