I am using a trend-based strategy using Heikin Ashi charts. As we know, Heikin Ashi OHLC data is a manipulation of the ‘normal’ OHLC values (comparing Heikin Ashi candlesticks to normal Japanese candlesticks).
However, when it comes to adding indicators such as ATR, and moving averages, to Heikin Ashi charts, these indicators seem to use ‘normal’ OHLC values, rather than values directly relating to Heikin Ashi OHLC values.
Is there a way to shift these indicators from using ‘normal’ candle data to the Heikin Ashi data?
I would like to use the following indicators on Heikin Ashi charts:
- ATR indicator in separate window based on Heikin Ashi data (not normal price data)
- simple moving averages that relate to the closing prices of Heikin Ashi candles (rather than ’normal’ closing prices)
Also if there is a way of adding ATR bands to the chart itself (appearing somewhat like Bollinger Bands or Keltner Channels)? In which case, I’d like to add also:
- ATR bands — adding / subtracting a set ATR value (eg a 14-day ATR) to / from the Open price of each Heikin Ashi candle
Are these indicator adaptations possible in ProRealtime? If so, can you point me in the right direction?
Thank you.
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