Indicator Heikin-Ashi Open displays in a separate window the lines of opening and closing Heikin-Ashi candlesticks.
Intersections of the indicator lines may be signals for opening/closing the positions. It can be used together with indicator haDifference.
The indicator has no configurable options.
Calculation:
HAOpen = (PrevHAOpen + PrevHAClose) / 2.0
HAClose = (Open + High + Low + Close) / 4.0
where:
- HAClose - Heikin-Ashi candlestick closing price;
- HAOpen - Heikin-Ashi candlestick opening price;
- PrevHAClose - closing price of the previous Heikin-Ashi candlestick;
- PrevHAOpen - opening price of the previous Heikin-Ashi candlesticks.
Fig 1. Indicator Heikin-Ashi Open
Fig. 2. Indicator Heikin-Ashi Open in combination with Heikin-Ashi Difference