Gain a better viewpoint of trend with Heiken-Ashi Smoothed for NinjaTrader 8
Heiken-Ashi candle is a NinjaTrader 8 built-in bar type that is favored by its convenience for easily identifying trends. We now bring you a more comprehensive & enhanced version of this popular candle: Heiken-Ashi Smoothed.
First of all, you can optionally have the OHLC prices smoothed with any of
. We recommend using a low period for smoothing, such as EMA 6 or SMA 4.
Next, the indicator smooths out Heiken-Ashi candles by employing an "Open Weight" parameter, which determines how much weight is given to the previous Heiken-Ashi candle's open in the calculation of the current Heiken-Ashi candle's open. The higher the Open Weight, the larger the Heiken-Ashi candle body. Therefore, a higher Open Weight significantly reduces noisy changes in candle colors and then leads to a smoother Heiken-Ashi trend.
Unlike the built-in Heiken-Ashi candle in the NinjaTrader 8 platform which is only provided for some common bar types (minute, tick, volume, second, day, week, month, year), our Heiken-Ashi Smoothed indicator can be applied to any third-party bar types, such as the #1 mean renko bar for NinjaTrader 8 ninZaRenko.
Our NinjaTrader 8 Heiken-Ashi Smoothed indicator can be configured to appear separately on a sub-panel or show up on the main price panel. If placing it on the price panel, you can conveniently switch back & forth between the 2 bar types (Heiken-Ashi bars vs regular price bars) just by clicking an on-chart toggle button.
Moreover, traders are provided with a Heiken-Ashi body filter which allows deciding when a Heiken-Ashi bar is bullish, bearish, or neutral. If the body of a Heiken-Ashi bar meets a minimum value specified by users, the Heiken-Ashi bar is classified as bullish or bearish (depending on its direction). In contrast, it will be categorized as neutral when the body doesn’t satisfy that user-defined threshold.
Key features:
- Plot Heiken-Ashi candle smoothed on a sub-panel or the same panel as price
- Can be applied to any 3rd-party bar type
- Allow smoothing the OHLC prices with 11 popular moving averages
- Allow configuring "Open Weight"
- Allow defining a body filter to identify neutral Heiken-Ashi candles
- Paint bars to highlight where Heiken-Ashi candles are bullish/bearish
- Paint background to highlight where Heiken-Ashi candles are bullish/bearish
- Allow switching back & forth between regular price candles & Heiken-Ashi candles via a draggable & customizable toggle
- Be NinjaScript ready for advanced usage, only restricted by your imagination
- Expose dedicated NinjaScript signals
Dedicated NinjaScript signals:
- Signal_HABias: 1 = bullish, -1 = bearish, 0 = neutral
- 25 Oct 2022 - The indicator was released (build new).
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