Heikin-Ashi candlesticks are a derivative of Japanese candlesticks, but rather than using actual open, high, low, and close values, this study uses recalculated values.
HAClose = (O+H+L+C)/4
HAOpen = (HAOpen (previous bar) + HAClose(previous bar))/2
HAHigh = Maximum(H, HAOpen, HAClose)
HALow = Minimum(L, HAOpen, HAClose)
The reduction in noise resulting from these recalculated values may result in better exposure of trends and reversals.
The Cursor Value Box includes the four standard HA calculations: TradedOpen, TradedHigh, TradedLow, and TradedClose in addition to open, high, low, and close.
Additional HA values are included in the QFormulas toolbox: HAOpen, HAHigh, HALow, HAClose, HAMid, HAHLC3, HAAvg, HATrueHigh, HATrueLow, HARange, and HATrueRange.
Heikin-Ashi charts are not intended for analysis where open, high, low, and close data does not apply, such as with economic reports.
Heikin-Ashi Parameters
|
Parameter |
Description |
|
Color |
Select color of bars, up bars, and down bars. |
|
MarkIt |
Opens the Specify Conditions for Marking Bar window. |
|
Hollow if C[-1]<C |
Tells the system to create a hollow candlestick if the previous close is less than the current close. |
|
Fill Gap |
Select this check box to use fill gap candlesticks. These candlesticks inherit their value from the last valid close. If this parameter is off, HAOpen is used for the first gap candlestick, and all other gap candlesticks are left blank. This parameter is off by default. |