Gauge trend phases & trend slowdowns effectively
Following the awesome release of Heiken-Ashi Smoothed,we continue expanding our journey on the Heiken-Ashi series with fresh ideas, and Heiken-Ashi Smart Delta has become one of our successful experiments.
The indicator plots the Heiken-Ashi deltas, with the delta calculated as follows:
Delta = PriceFrom - PriceTo
Here PriceFrom & PriceTo can be independently selected from a big list of options:
- CurrentHA_Close
- CurrentHA_Open
- CurrentHA_ExtremumFront
- CurrentHA_ExtremumBehind
- CurrentHA_Median
- CurrentHA_Typical
- CurrentHA_Weighted
- PreviousHA_Close
- PreviousHA_Open
- PreviousHA_ExtremumFront
- PreviousHA_ExtremumBehind
- PreviousHA_Median
- PreviousHA_Typical
- PreviousHA_Weighted
Be creative! You are given the flexibility to design your own delta by mixing & matching different selections of PriceFrom with PriceTo.
By default, the delta is set to be the difference between CurrentHA_Close and CurrentHA_Open, which is nothing but the current Heiken-Ashi candle's body. This default setting is already very effective. Just choose it if you don't want to run experiments.
IMPORTANT: For each new combination of PriceFrom & PriceTo, you'll need to increase/decrease "Threshold Upper" and "Threshold Lower" accordingly to have the indicator's trend recognition logic adapt to the combination.
A moving average of the delta is added to help detect trend slowdowns. When the delta crosses below the MA in the region above Threshold Upper or crosses above the MA in the region below Threshold Lower, a slowdown signal will be generated to warn you of a potential trend consolidation, pullback, or even reversal. In our experience, a slowdown signal is more reliable when it forms a divergence of slowdown signals vs. the price action.
Features
Key features: INCOMPLETE
- Plot Heiken-Ashi delta
- Plot Heiken-Ashi delta moving average
- Allow smoothing the Heiken-Ashi prices with
- Allow configuring the weight of candle Open in Heiken-Ashi calculation
- Allow selecting the delta moving average with
- Allow smoothing the delta moving average with
- Allow choosing PriceFrom & PriceTo independently
- Let you define upper & lower thresholds
- Paint bars to show 2 phases: uptrend, downtrend
- Paint background to show 2 phases: uptrend, downtrend
- Colorize Delta based on 2 phases: uptrend, downtrend
- Highlight high & low regions
- Trigger alerts on trend shift
- Trigger alerts on trend slowdown
- Print markers on trend shift
- Print markers on trend slowdown
- Be NinjaScript ready for advanced usage, only restricted by your imagination
- Expose dedicated NinjaScript signals
Dedicated NinjaScript signals:
- Signal_Trend: 1 = uptrend, -1 = downtrend
- Signal_Slowdown: 1 = downtrend slowdown, -1 = uptrend slowdown, 0 = no slowdown
- 15 Nov 2022 - The smoothing feature for Delta MA was added.
- 01 Nov 2022 - The indicator was released (build new).
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