exploiting the characteristics of Heiken Ashi candles

• 11/29/2023 at 12:54 PM #224562
  ROGER.JPS

  Good morning, I’m trying ProRealTime platform.

  I have read that it is possible to use indicators and strategies by exploiting the characteristics of Heiken Ashi candles. Unfortunately I did not notice any difference both in the visual and quantitative results in the indicators, as well as in the backtesting of the strategies.

  I kindly ask you to tell me how to proceed to choose whether to calculate the indicators shown on the chart based on Heiken Ashi candles or normal candles (OHLC).

  I thank you in advance and send you my warmest regards

  Roger

  

  ROGER.JPS

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  11/29/2023 at 2:25 PM #224565
  PeterSt

  Hi there Roger,

  The top one is “normal”, the bottom one is Heikin-Askin. An obvious difference. 🙂

  Rightclick somewhere in the middle of the chart, choose “Configure this area” and choose the third option like you see in the 2nd screenshot below.

  Somewhere far back in my mind I remember something like that it is not possible to trade with it. I just tested some backtesting and that works, so maybe I am just wrong. But notice that the prices of both versions don’t work out exactly the same to begin with. So possibly it just works, but not 100% exact to the prices you see with Heikin-Ashi.

  Regards,
  Peter

   

  

  PeterSt

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  11/29/2023 at 5:57 PM #224576
  robertogozzi

  Predefined indicators use the data series shown in the settings’s dropdown menu (open, close, high, low, typical, etc…). Heikein-Ashi is just an indicator and you need to customize the indicator you want to use (though not possible for some of them).

  For example, this a customized version of SMA that uses HA candlesticks:

  Custom SMA

  once xOpen = open xClose = (open + close + high + low) / 4 if barindex > 0 then xOpen = (xOpen[1] + xClose[1]) / 2 endif xLow = min(low,min(xClose,xOpen)) xHigh = max(high,max(xClose,xOpen)) xTypic = (xHigh + xLow + xClose) / 3 xMed = (xHigh + xLow) / 2 xRange = xHigh - xLow Sma10 = average[10,0](xClose) //or xOpen, xRange, etc... RETURN Sma10 AS "HA Sma10"

  1 2 3 4 5 6 7 8 9 10 11 12

  once xOpen = open xClose     = (open + close + high + low) / 4 if barindex > 0 then     xOpen  = (xOpen[1] + xClose[1]) / 2 endif xLow       = min(low,min(xClose,xOpen)) xHigh      = max(high,max(xClose,xOpen)) xTypic     = (xHigh + xLow + xClose) / 3 xMed       = (xHigh + xLow) / 2 xRange     = xHigh - xLow Sma10      = average[10,0](xClose) //or xOpen, xRange, etc... RETURN Sma10 AS "HA Sma10"

  

  robertogozzi

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  Topics: 69

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  11/30/2023 at 8:48 AM #224613
  ROGER.JPS

  Yes, I use v12.0 – 17.0.4.1,

  but I can’t find instructions for using Heikin-Ashi features in strategies.

  Even if I use once xOpen = open xClose = (open + close + high + low) / 4 if barindex > 0 then xOpen = (xOpen[1] + xClose[1]) / 2 endif xLow = min(low,min(xClose,xOpen)) xHigh = max(high,max(xClose,xOpen)) to define the Open-Close functions with OHLC bar graph or Heikin-Ashi, I get the same results.

  In TradingView the positions of the arrows in the two conditions are very different, because the strategy algorithm is affected by the different Open and Close values. I would like to achieve the same thing in ProRealtime.

  Regards Roger.JPS

  ​

  

  ROGER.JPS

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  11/30/2023 at 12:19 PM #224626
  robertogozzi

  To use HA candlesticks in strategies, just use the above code:

  once xOpen = open xClose = (open + close + high + low) / 4 if barindex > 0 then xOpen = (xOpen[1] + xClose[1]) / 2 endif xLow = min(low,min(xClose,xOpen)) xHigh = max(high,max(xClose,xOpen)) xTypic = (xHigh + xLow + xClose) / 3 xMed = (xHigh + xLow) / 2 xRange = xHigh - xLow

  1 2 3 4 5 6 7 8 9 10

  once xOpen = open xClose     = (open + close + high + low) / 4 if barindex > 0 then     xOpen  = (xOpen[1] + xClose[1]) / 2 endif xLow       = min(low,min(xClose,xOpen)) xHigh      = max(high,max(xClose,xOpen)) xTypic     = (xHigh + xLow + xClose) / 3 xMed       = (xHigh + xLow) / 2 xRange     = xHigh - xLow

  it’s the definition of HA candles and can be used in Strategies, indicators and screeners. There’s no built-in instruction.
  Have you seen my pics above? They show the different values of a SMA.
  I can’t understand what other differences you mean.

  

  robertogozzi

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  11/30/2023 at 12:23 PM #224628
  robertogozzi

  Do not double post. Ask your question only once and only in one forum. All double posts will be deleted anyway so posting the same question multiple times will just be wasting your own time and will not get you an answer any quicker. Double posting just creates confusion in the forums.

  Thanks 🙂

   

  

  robertogozzi

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