Smoothed Heikin-Ashi Candles with Optional Standard-Candle Coloring

Summary

The document describes a ProRealCode indicator that smooths price inputs before calculating Heikin-Ashi open, high, low, and close values. A second set of configurable averages smooths those derived candle values. The indicator can either draw the smoothed Heikin-Ashi candles or hide them and color the platform’s ordinary candles according to whether the smoothed Heikin-Ashi close is above or below its open. Initial bars are handled separately while the recursive Heikin-Ashi values are established.

The example provides implementation details but no trading rules, market selection, parameter guidance, or performance evidence. Its color states visualize the direction of the smoothed candle and should not be treated as validated entry or exit signals. Because smoothing and recursive calculations can delay changes in direction, users would need to examine timing and parameter sensitivity before applying the display to trading decisions. The document is primarily an indicator example for learning the language.

Key ideas

• The indicator averages OHLC inputs before calculating Heikin-Ashi candle values.
• A second configurable averaging stage smooths the derived Heikin-Ashi values.
• Users can display the smoothed candles or use their direction to color ordinary candles.
• The color reflects whether the smoothed candle closed above or below its open.
• The example provides no evidence that its visual signals are profitable.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.