Heiken-Ashi & RSI Blend

Magic of NinjaTrader 8 Heikin-Ashi candle and RSI

Are you a fan of the NinjaTrader 8 Heikin-Ashi candle, or RSI, or both?

Heiken-Ashi & RSI Blend is a modern oscillator that combines the power of these 2 famous classic trading tools: The Heikin-Ashi candle for NinjaTrader 8 and RSI indicator.

• The Heikin-Ashi candle: The best & well-known smoothing formula that provides reliable noise reduction in the NinjaTrader 8 platform.
• RSI: Good in catching overbought/oversold regions, which signals potential price reversals. It's old but gold.

This unprecedented combination produces an unbelievable modern indicator. It's "modern" because this is the first-ever Heikin-Ashi candle & RSI combination for NinjaTrader 8.

The indicator was first introduced by JayRogers on TradingView as a "science" experiment. ninZa.co used the core formula and then tremendously remade this indicator by adding so many enhancements & improvements.

In our version, we call the candle where the Heiken-Ashi trend switches from bullish to bearish or vice versa a "turning point". Because there are a lot of turning points and many of them are noise, we don't take every turning point as a signal. Instead, we compare 2 consecutive turning points of the same side to filter out low-quality signals. This filtration is controlled by "Signal Mode" with which you can choose how signals are generated:

• Strengthening Turning Point: 2 consecutive bearish turning points will generate a bearish signal if the Heiken-Ashi Close value of the later point is larger or equal to the Heiken-Ashi Close value of the previous point. Reversely, 2 consecutive bullish turning points will generate a bullish signal if the Heiken-Ashi Close value of the later point is smaller or equal to the Heiken-Ashi Close value of the previous point.

• Weakening Turning Point: 2 consecutive bearish turning points will generate a bearish signal if the Heiken-Ashi Close value of the later point is smaller or equal to the Heiken-Ashi Close value of the previous point. Reversely, 2 consecutive bullish turning points will generate a bullish signal if the Heiken-Ashi Close value of the later point is larger or equal to the Heiken-Ashi Close value of the previous point.

The result is a modern oscillator that catches tops & bottoms extremely well. Especially, in a sideways market, this exceptional indicator recognizes where the price reverses to a very high degree of accuracy!

For your information, we also developed another similar indicator: Heiken-Ashi & MFI Blend. It's an amazing combination of the NinjaTrader 8 Heikin-Ashi candle and MFI (Money Flow Index). Or pair it with anything else from our collection of NinjaTrader addons for a more complete workspace.