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Heikin-Ashi

Last post 06-17-2007, 21:56 by Spaceant. 6 replies.
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  •  06-28-2006, 21:01 18666

    Heikin-Ashi

    Heikin-Ashi charts would be very helpful.
  •  06-29-2006, 1:57 18678 in reply to 18666

    Re: Heikin-Ashi

    In themean time - before you go out and buy a tool to make the data into the right format for you ( from : http://www.trading-tools.com/heikin-ashi-for-metastock.htm - I don't know anything about it, it might work, it might not etc, caveat emptor) ....

    There is a way to exploit MS to create a sort of H-A plot...

    The code:

    xClose:=(O+H+L+C)/4;
    xOpen:=(PREV+Ref(C,-1))/2;
    xHigh:=Max(Max(H,xOpen),xClose);
    xLow:=Min(Min(LOW,xOpen),xClose);

    {plot}
    xClose;
    xOpen;
    xHigh;
    xLow;

    Now we have to plot this in a very SPECIAL way.... it takes some fiddling around, but once you get right you can save the chart as a template and then you never have to fiddle with it any more!

    First plot the indicator as is in a chart, overlayed over the base security.

    Next click the line that is the xHigh, and format this as a histogram in whatever colour you like.

    Now click the xLow and format this is a histogram in the SAME COLOUR as the chart background. This is now the high/low bar.

    Click the line that will be xOpen and format this as the very last style in the line-style drop down box (the one below histogram), and make the colour whatever you like and the line-weight the heaviest, or the one just above the heaviest. It should look like a seris of coloured dots on your high low bar.

    Do the same for the the xClose.

    Now hide the underlying security by making it a line chart with the same colour as the background.

    You now have something that should resemble your H-A chart. You might have to retrain your eyes and brain to 'see' the candles in this way, but you had to train it in the first place to see the candles, so this shouldn't be too strenuous.


    Hope this helps.


    wabbit :D




    MS: 6.52 EOD, 7.x EOD, 8.0 PRO, 9.2 PRO w/QC, 10 PRO w/QC & MDK
    For custom MetaStock programming : http://www.wabbit.com.au
    My SkyPE status : wabbit.com.au SkyPE online status
    My SkyPE account : wabbit.com.au

  •  06-29-2006, 17:57 18705 in reply to 18666

    Heikin ashi

    Wabbit,
    Thanks a lot for your help! I really appreciate it. I actually purchased a program called Hams that generates Heikin ashi metastock data files. Even though it has several buggs, it works pretty well. However, it would be much more convenient if Metastock could generate these charts itself.
  •  07-01-2006, 2:26 18738 in reply to 18666

    Re: Heikin ashi

    Perhaps you could write a bit more of a commentary about the software you bought, where you got it, how it works, how it doesn't work etc.

    H-A charts come up often in the Forum, with no real answers, so details about your solution will be invaluable.

    Maybe you might like to comment further on how you implement H-A trades, any modifications you make to indicators to cater for the data differences etc.


    wabbit :D

    P.S. Maybe if we ask reeeaaalllllyy nicely, Equis will include the functionality in the next version?

    MS: 6.52 EOD, 7.x EOD, 8.0 PRO, 9.2 PRO w/QC, 10 PRO w/QC & MDK
    For custom MetaStock programming : http://www.wabbit.com.au
    My SkyPE status : wabbit.com.au SkyPE online status
    My SkyPE account : wabbit.com.au

  •  07-12-2006, 20:39 19040 in reply to 18666

    Re: Heikin ashi

    Another vote for implementing Heikin-Ashi candlesticks.

    Would also like to be able to color-fill the white candles; for instance show White as Green and Black as Red (unless I'm missing something, MS 9.1 only allows changing the outline color of the white candle; the fill remains white); I'm warming up to that color scheme using Medved's QuoteTracker.
    When you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed. - Ayn Rand
  •  07-13-2006, 0:59 19044 in reply to 18666

    Re: Heikin ashi

    You can colour the candles. See the MS Users Manual.

    Is there another way colour candles? Other than the way MS does it?

    In MS...

    A green candle means the close was higher than the close of the previous candle, or the close was the same as the previous candle and the previous candle was green. A red candle means the close was lower than the close of the previous candle, or the close was the same as the previous candle and the previous candle was red.

    If the candle is solid, the close was less than the open. If the candle is hollow, the close was higher than the open. The colour of the hollow part is actualy transparent and will take on the colour of the background.

    The (disgusting colour scheme) image below is an example.


    The above assumes the user has selected 'green' for up bars and 'red' for down bars. To be more correct I should have used the terms up-candles and down-candles in case someone uses a different colour scheme, but I think they would get the idea anyway.


    Hope this helps.

    wabbit :D

    MS: 6.52 EOD, 7.x EOD, 8.0 PRO, 9.2 PRO w/QC, 10 PRO w/QC & MDK
    For custom MetaStock programming : http://www.wabbit.com.au
    My SkyPE status : wabbit.com.au SkyPE online status
    My SkyPE account : wabbit.com.au

  •  06-17-2007, 21:56 24393 in reply to 19044

    Re: Heikin ashi

    Wabbit,

    I have tried to plot the Heikin Ashi chart in your way, see the left side of the attached chart, versus the real one, right side with data imported from excel calculation.

    Well, I should have set the bar of the left chart to be the same as the color of the background in order to "hide" the original price bar.

    Sa

     

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