In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
// Plots Color Of Heikin-Ashi Bars while Viewing Candlestics or Bars //Works on Candlesticks and OHLC Bars - Does now work on Heikin-Ashi bars - But I have verified its accuracy // Created By User ChrisMoody 1-30-2014 with help from Alex in Tech Support study(title = "CM_Heikin-Ashi_Candlesticks_V1", shorttitle="CM_Heik-Candles",overlay=true) haclose = ((open + high + low + close)/4)//[smoothing] haopen = na(haopen) ? (open + close)/2 : (haopen + haclose) / 2 heikUpColor() => haclose > haopen heikDownColor() => haclose <= haopen barcolor(heikUpColor() ? aqua: heikDownColor() ? red : na)