TTM-Trend Uses Heiken Ashi Direction to Color Trend Bars

Summary

TTM-Trend is described as an indicator that evaluates Heiken Ashi open and close values over a selected period. It compares the direction of the trend with the direction of the candlestick: bars are shown in a lighter color when the directions agree and a darker color when they differ. This provides a visual way to distinguish trend alignment from disagreement.

The document identifies Nick Bilak as the author and notes that the indicator was originally written in MQL4 and published in 2007. It does not explain how the trend direction is calculated, specify the period or color rules beyond the alignment distinction, or provide performance tests. The description therefore explains the visual signal at a high level, without establishing how it should be traded or whether it predicts returns.

Key ideas

• The indicator evaluates Heiken Ashi open and close values over a selected period.
• Bar color distinguishes agreement between trend direction and candlestick direction from disagreement.
• The description does not provide trading rules or evidence of predictive performance.
• The indicator was originally written in MQL4 and published in 2007.

Tags

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