Heikin Ashi ninja tool from Japan

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Heikin Ashi ninja tool from Japan

Sorry to dissapoint you at the beginning since this is not a fighting tool, it is merely a trading tool but i can get you in the mood since you can get good profits with this tool. In the basics, this tool is a modified version of japanese candles. They may look the same as japanese candlesticks when you look at them but when you actually see how they act you will see they are different and that is because their calculations are different from the japanese candlesticks where you see the opn and closing price and high and low of the time period the candle is representing. Instead, these heikin ashi candles relate to previous candle and they like to remove the noise, means they offer you more smoother price action. With using of this tool you can see easier the trend since it really is simple to use. When you see a closed uptrending heikin ashi candle, means that you can do a call trade. If you see a closed downtrending candle, you can do a put trade.

WHY ARE HEIKIN ASHI CANDLES BAD AND WHY GOOD?

It can happen that they can be late with signalizing you when to go to trade since they calculate and use averages. On the other hand it can be also taken as advantage so you do not get out of the trade too early or in the trade when there is no right moment. If you are already expirinced when it comes to japanes candles trading, you can recognize the patterns formed there which does not happen here with heikin ashi but you are always able to have open 2 charts, one with japanese candles and one with heikin ashi.

You can be most sure here since there is less noise. For as long as you are in the trade within the same color you are ok and in correct direction. Since there is no connection beetwen mathematical calcualtions and candles, you can see much more cleaned out version of price. You can get the heikin ashi candles as a standard with msot of the charting packages so you remove the hassle of searching for it online.

HOW TO USE HEIKIN ASHI?

Let us take a look at two pictures, both represent same asset within the same period of time. The first picture is the normal one with japanese candlesticks and the second one is with heikin ashi candles.

As you see on the second picture it is nicely shown the smoothnes of price based on the colors which keeps us in the trade. Best way is that you use this tool to trade in the direction of the trend, with the colors. Blue color represent uptrend or bullish price action while red represents downtrend or bearish price action.

FINALE

It is a great indicator tool and i would definitely recommend it to the beginners because of the simplicity. You can not go wrong with this one if you focus and dedicate some proper time for getting knowledge on basics of technical analysis in binary options.

Heikin Ashi ninja tool from Japan

NinjaTrader 8 natively provides Heiken Ashi as a bar type for most common bar types (minute, tick, volume, second, day, week, month, year).

This Heiken Ashi indicator is provided for the Range, Renko and any custom bar types that may be added.

The indicator performs in the same manner as the NinjaTrader 7 version.

4-27-18 – Fixed for when not used in panel 1 && changed default shadow to dimgray.

Created By NinjaTrader_Paul
NinjaTrader Version 8
File Size 2.7 KB
Create Date 12/13/2020
# of Downloads 4110

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  1. Download the app or add-on file to your desktop
  2. From the NinjaTrader Control Center window, select the menu Tools > Import > NinjaScript Add-On…
  3. Select the downloaded file from your desktop

Questions?

Visit the NinjaScript File Sharing discussion in the NinjaTrader user forum to interact with fellow traders and the NinjaTrader support team.

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Heikin Ashi

Indicator Description

The Heikin Ashi indicator (sometimes spelled Heiken Ashi) is used for determining market trends, identifying short/long biases. Heikin Ashi candles are created the same way as a normal candlestick charts, but use modified bar formulas. Basically, each candle is calculated and plotted using some data from the previous candle. For additional information on the formula applied, please review our Indicator Spotlight on the Heikin Ashi candles here.

Heikin Ashi Candles Interpretation:

You may use Heikin Ashi candles to determine market trends, identifying short/long biases. Blue candles will show a rising trend, whereas magenta candles indicate a downtrend. Strong up-trends are characterized by long blue bodies with minor lower shadows and conversely for down-trends with long magenta bodies with minor upper shadows. If the bodies decrease in size, one should anticipate a weaker trend. A period of consolidation will generally have several small bodies with both long upper and lower shadows. A very small body with tall shadows may be a warning about a possible change of trend.

Smoothed Heikin Ashi Candles

In general, a Heikin Ashi chart will see a smoother output when compared to a traditional candlestick chart and the bars may then be further smoothed with one of over 30 different moving averages. The indicator furthermore allows for displaying both Dan Valcu’s and Sylvain Vervoort’s versions of the Heikin Ashi bars.

Although Heikin Ashi candles look straightforward and easy to trade, overlaying the primary bars with black for down closes and transparent for up closes will reveal a more nuanced picture. The true price levels will now be visible which is important when setting appropriate stop loss levels. Accordingly, you may also consider displaying Heikin Ashi paintbars to display the trend bias on primary bars containing true price action.

Other Library indicators

The Heikin Ashi candles are best used in combination with additional tools for technical analysis such as momentum oscillators, support / resistance and volume indicators. Specifically, you may review the Acceleration Deceleration, Laguerre RSI, Know Sure Thing, SRSI and the Projection Oscillator. For support / resistance levels you may have a look our Session Tools and Fibonacci lines, such as Rolling Pivots Monthly weekly Fib retracement levels or the Fibonacci Bands. You may also review our tools for Range and Volume Analyis , i.e. relative range / relative volume analysis.

The indicator is available for NinjaTrader 8 and was discussed in our Heikin Ahsi Spotlight.

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