I Like how Heikin-Ashi Bars show Trend. But I don’t like how they open at the midpoint of the previous bar so you can’t see Price Action, or GAPS. This Paint Bar Indicator solves that issue. I created the lower Indicator b/c currently if you want Paint Bars for any other candlestick patterns it’s not possible to plot both. Also more advanced version is coming soon. Important Details are listed in the 1st Post.
Comentários
maddy_maddy
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hi unable to get codes. plz help
aryahi29
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ALL YOUR INDICATORS ARE SIMPLY AMAZING!!!! THANK YOU CHRIS.
I DOWNLOADED TRIPLE-EMA_LOWEWR HISTOGRAM CODE.
DOES THE EMA_LOWER = EMA-2*STDEV?
I LIKE TO HAVE SIMILAR HISTOGRAM--
FOR BOLLINGER BANDS_LOW. IF I CHANGE THE EMA INTO SMA.. WILL THE CODE WORK?
ARYAHI
Algokid
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Good stuff Chris !! keep it up.
sublimares2
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Very much appreciate it your indicators. What about a Wilder RSI, STO slow / fast?
ChrisMoody
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***Currently these paint bars can be plotted on Candlesticks, Hollow Candlesticks, and Price Bars. The study WILL NOT WORK if you plot with Traditional Heikin-Ashi Bars, b/c the study is reading the Open, High, Low Close of X amount of bars and Traditional Heik Bars always open at the midpoint of the previous bar. However, to prove they work I suggest using the new Grid Feature and plot two charts on top of each other. Make sure they are the same Symbol and Same Time Frame. In one of the pains plot this indicator on Candlesticks, I recommend Hollow Candlesticks. On the other chart Use Traditional Heikin-Ashi Bars and you will see the accuracy and benefits.
*** I recommend using Hollow Candlesticks b/c it allows you to see the exact price action. No matter what the color of the bar is if it is a hollow bar the the close was greater than the open (typical Green Candlestick), and if it is a solid bar the close was less than the open(Typical Red Candlestick).
There are many ways to use this study. This example uses Chuck Hughes 50 and 100 EMA. Note a pullback to the Upper 50 EMA then waiting for a confirming change in the Heikin-Ashi Bar Color = Gives Great Entry. This is assuming with Chuck’s methodology That Stocks are Trending Up and ideally reaching new 52 Week Highs.
DonnaSko
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@ChrisMoody, Great analysis and chart. Thank you for sharing.
ChrisMoody
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If Your Not Sure How To Load Custom Indicators on Your Chart. Video Below Explains