This is a very simple script for fun to demonstrate the new ability to change the colors of attributes pertaining to the plotbar() and plotcandle() functions using series inputs.
For Heiken Ashi lovers, this script does several things. It gives you both bars and hollow candles with Heikin Ashi values - something TV does not currently support.
It also gives you the ability to see your favorite HA candles while on the main series plot. When viewing indicators in the "Heikin Ashi" candle setting on TradingView, the input values are "smoothed' with HA values. This skews the way your indicators behave as the OLHC are calculated averages. Only the regular candle settings will give your indicators "real close" etc.
By 'Muting' the main series bars by toggling the 👁 symbol next to your ticker id, it makes the normal candles invisible. You then overlay this script, which allows you to see the HA Candle of your choice, while not affecting the way your indicators behave.
You now have the best of 2 worlds. Smoothed behavior of price action to help visualize trends, and accurate indicator values derived from actual OLHC data.
Plus, something about hollow HA candles is just kind of clean and soothing isn't it?
Hello my friend, I have a question Do you have this script for MQL5 (metatrader 5) too?
drdgvhbh
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Hi i overlay this and the actual heikin ashi candles from TV and they are different. Why is this?
Bjorgum
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@drdgvhbh, are you using the overlay on an HA chart?
drdgvhbh
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@Bjorgum, Yes because I wanted to see if they are the same but they are different
Bjorgum
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@drdgvhbh, The script takes values like open, high, low, and close and calculates HA with them. When on an HA chart those values would already be HA ie. feeding the HA close value into the calculations, so essentially taking HA of HA. To check the values you could open 2 charts; one HA and one regular with the overlay on it.