LinReg Heikin Ashi Candles

19 apr

Linear Regression Heikin Ashi Candles will dramatically change how the candlesticks on your chart will appear. This script creates Heikin Ashi candles from the existing candlesticks and then applies wickless Linear Regression candles as an overlay. The result is an ultra smoothed 'Renko-like' chart that remains time-based and responsive.

Key Features:

• Heikin Ashi Base: Provides a smoother representation of price trends by filtering out noise.
  
• Linear Regression Candles on Heikin Ashi: Plots Linear Regression lines as candles on the Heikin Ashi chart, potentially highlighting the immediate trend direction and momentum within the smoothed data. Wicks are intentionally removed for a clearer focus on the linear progression.
  
• Tillson T3 Moving Averages: Includes fast and slow T3 Moving Averages with customizable length and alpha. These smoothed moving averages can help identify trend direction and potential crossover signals. Users can toggle their visibility.
  
• Volatility Bands: Integrates Volatility Bands based on Average True Range (ATR) with customizable length, ATR type (RMA, SMA, EMA, WMA), and inner/outer multipliers. These bands help gauge price volatility and potential reversal zones. Users can toggle the visibility of the basis line.
  
• Customizable Colors: Allows users to customize the colors of the Linear Regression Heikin Ashi bullish and bearish candles.
  

How to Use:

This is an overlay on your chart so you'll need to 'hide' the existing candlesticks on your chart.

This indicator can be used on any timeframe from seconds to days to quickly identify market trend, gauge volatility, and potentially find entry/exit points. Consider looking for confluence between the candle color/direction, T3 MA crossovers, and price interaction with the Volatility Bands.

Note: This indicator plots Linear Regression directly on Heikin Ashi candles, removing wicks for a focus on the linear trend within the smoothed data. Adjust the input parameters to suit your trading style and the specific market conditions.

HUGE CREDIT to ugurvu who originally created the Linear Regression Candles indicator that my indicator pulls code from.

7 giorni fa

Note di rilascio

Added the ability to disable volatility bands and T3 moving averages in settings for those who would like to only the candles overlay.

l’altro ieri

Note di rilascio

- Added additional volatility band basis types (ALMA, KAMA, EMA, WMA, SMA, LSMA, HMA)
- Improved volatility band fit
- Added basis buy/sell arrows on candle direction change (disabled by default, enable in settings)

l’altro ieri

Note di rilascio

Added alerts for candle direction changes and T3 moving average crossovers.
Minor correction to volatility bands.

l’altro ieri

Note di rilascio

Short title correction.
Color matching.