This indicator calculates the difference between Heikin-Ashi close and open values to quantify directional candle spread. It smooths this delta value using a simple moving average and plots the resulting oscillator as a line in a separate pane. Traders can cus
Indicator · Pine Script v4 · Own pane
MTF Heiken Ashi
This indicator evaluates Heikin Ashi trend direction across three user-defined higher timeframes.
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code65
Settings7inputs
LicenceNone stated
Last update2 years ago12 May 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
MTF Heiken Ashi determines directional bias using either manual Heikin Ashi calculations or imported Heikin Ashi ticker data, with an optional wick filter to assess wick percentage margins. Users can choose to evaluate the previous completed candle to minimize real-time signal changes. The indicator plots three color-coded circle lines in a separate pane representing the bullish, bearish, or neutral status for each specified timeframe.
- Multi-timeframe Heikin Ashi trend analysis
- Optional Heikin Ashi wick percentage filtering
- Calculation or direct ticker data import methods
- Color-coded status plots for three timeframes
Details
Published by
jerryinyang on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Trend, Candlestick patterns
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Use Previous Candle | bool | true | usePrev |
| Heiken Ashi Method | string | Calculate | useMeth |
| Use Wick Filter | bool | true | useWickFilt |
| Wick Length Margin (Percent) | float | 10 | wickMargin |
| Timeframe 1 | timeframe | 60 | haRes1 |
| Timeframe 2 | timeframe | 120 | haRes2 |
| Timeframe 3 | timeframe | 240 | haRes3 |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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