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Heiken Ashi Charts

Heiken-Ashi bars are similar to candlesticks, but are based on slightly changed datasets:
  1. haClose is the average of the current bar (Open + High + Low + Close)/4
  2. haOpen is the midpoint of the body of the previous bar: (Open of previous bar + Close of previous bar)/2
  3. haHigh is the highest value of the set: High (of the current bar),haOpen,haClose
  4. haLow is the lowest value of the set: Low (of the current bar),haOpen,haClose
The Heiken-Ashi bar is thus plotted as a candlestick with values haOpen, haClose, haHigh, haLow. it's coloured green for up and red for down, to differentiate them from regular candlesticks.

Heiken-Ashi gives a much better visual indication of trends, consolidations and reversals than regular candlestick bars for any time frame.

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