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Heiken Ashi Bars question

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    Heiken Ashi Bars question

    I have the HeikenAshi8 indicator installed. It seems to work fine, but I've noticed on some charts that the Close/Last value does not equal the Last price shown on the chart.

    Attached a screenshot to illustrate. The chart is a MONTHLY of DASHEUR (crypto).

    My understanding of Heiken Ashi is that it smooths out the transition between Red/Green bars. However I'm not sure if this indicator is performing as intended.

    Does HA perform the same as candle sticks except for the colour, or completely differently?
    Last edited by rhubear; 11-26-2019, 07:17 AM.

    #2
    To clarify, you're referring to this "Heiken Ashi 8" indicator that is publicly available on our ecosystem website? If not, could you provide a link to the indicator you're referring to?

    You can find the definition of Heiken Ashi bars in our help guide:One of the main differences between the built in Heiken Ashi bars and this indicator would be that the indicator is designed to work with non-time based intervals.

    You're using the indicator on a time-based interval. If you use the built in Heiken Ashi bars instead of the indicator, do you notice any discrepancy?

    Also, I am not sure how you're screenshot is showing me that Heiken Ashi bars are not following the last traded price. The Heiken Ashi indicator linked above 'overwrites' the standard candlestick bars and tracks the last traded price. The last traded price is the black price of 45.88 in your screenshot. Can you elaborate further about what your screenshot is demonstrating?



    Patrick G.NinjaTrader Customer Service

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      #3
      Thanks for your reply.

      First of all, yes I did get the indicator from an ecosystem download. Can't remember which page. I have also found the Heiken Ashi option in the "intervals" dropdown. However choosing this option has the affect of reducing the number of bars shown to very few, which I didn't expect. I'm happy to learn how to use HA from the "intervals" dropdown if I know how to set it up correctly.
      There is 1 preset there.

      My observation regarding the screenshot is demonstrated by the circled part (the last bar). The horizontal blue line shows the last price shown in the border. I would have expected the last bar/candle to draw the (red) body of the bar down to the Last Price shown. Or perhaps I'm misunderstanding how this indicator and Heiken Ashi works.

      I've taken a couple of screenshots of my Intervals Heiken Ashi Config. It makes no sense to me. There is 1 with Base Period Type of "Week", the other of "Month".

      The NT example you linked to shows a 2 min Heiken Ashi (shown on the intervals dropdown). My NT8 doesn't show any interval period for the HA types, regardless of what the config is set for.
      Last edited by rhubear; 11-27-2019, 10:49 AM.

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        #4
        Click image for larger version

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Name:	ConfigHeikenAshi.PNG
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ID:	1079184

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          #5
          If your question is 'how is there a wick prior to the bar close' then it is expected that wicks will form prior to bar close while the current bar is being built. Here is a quote from the help guide:

          Heiken Ashi bars may appear to plot the Open, High, Low, and Close of price within a specified time period, similar to Candlestick bars. However, these bars use unique formulas to calculate OHLC values based on mathematical averages

          You can adjust your chart's bar type and interval by right-clicking on the chart > Data series.

          It is important to understand that you're not currently using the built in Heiken Ashi bar type, but an indicator that 'overlays' on top of whatever your underlying chart bar type/interval is. So, the indicator's interval is controlled by the data series.

          For the built in bar type, you would adjust the 'base period type' and 'base period value' to change the underlying data Heiken Ashi is calculating on.

          The chart interval selector is discussed in detail here:For Heiken Ashi, you would edit the 'base period type' and 'base period value' just like you would from the Data Series.
          Patrick G.NinjaTrader Customer Service

          Comment


            #6
            OK, I've figured out where I was going wrong. Actually one of my screenshots with the Heiken Ashi edit fields should have shown you that I was in the wrong place.

            I was trying to access Heiken Ashi from the Interval dropdown at the top of the screen. Now I've found out that if I edit the "Data Series" section from the "Data Series dialog" from the "right click menu" (ie context menu), that works perfectly. I didn't see that HA was part of the list there.

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