| Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User
Joined: 10/3/2005
Posts: 3
|
I have found almost all of your training videos extremely helpful to set up my Telechart program. I wonder if there is a way to set up Telechart to view Heikin-Ashi Candlestick patterns. Thankfully - Suraj
|
|
Worden Trainer
Joined: 10/1/2004
Posts: 18,819
|
There would be no way to create a price bar/candle like this.
We could potentially SCAN for the patterns, though...
Here is the PCF equivilents to use. Replace the "xPer" with whatever period you want to use (for example MAXC15 if xPer=15 days).
For Open O use:
(H1+L1)/2
For Close C use:
(H+L+C+O)/4
For High H use:
(((H>MAXCxPer AND H>MAXOxPer)*H)+((H<MAXCxPer AND MAXCxPer>MAXOxPer)*MAXCxPer)+ ((H<MAXOxPer AND MAXCxPer<MAXOxPer)*MAXOxPer))*(-1)
For Low L use:
(((L<MINCxPer AND L<MINOxPer)*L)+((L>MINCxPer AND MINCxPer<MINOxPer)*MINCxPer)+ ((L>MINOxPer AND MINCxPer>MINOxPer)*MINOxPer))*(-1)
So though you cannot plot and view the candle constructed this way, you now have the PCFs to replace OHLC so you can scan for the desired patterns.
- Craig
Here to Help!
|
|
Registered User
Joined: 10/3/2005
Posts: 3
|
Thanks a lot Craig. I will see if I can make this work.  -Suraj
|
|
Registered User
Joined: 10/3/2005
Posts: 3
|
Thanks Craig for the PCFs..it seems to work a treat. I wonder what the optimum time period should be for a short-term trader like myself.
|
|
Worden Trainer
Joined: 10/1/2004
Posts: 4,308
|
That would be a great question to post over in the Stock and Market Talk forum. Perhaps others using Heikin-Ashi candlestick patterns would share their thoughts with you.
- Doug
Teaching Online!
|
|
 Platinum Customer
Joined: 11/21/2005
Posts: 45
|
From another reference;
===========================================
The heikin-ashi candlestick technique uses modified
open-high-low-close (OHLC) values and displays them
as candlesticks but | had them converted to paint bar
studies . The modified values are computed using these
definitions:
haClose = (O+H+L+C)/4
haOpen = (haOpen (previous bar) + haClose (previous
bar))/2
haHigh = Maximum(H, haOpen, haClose)
haLow = Minimum(L, haOpen, haClose)
=============================================
well I managed the first 2
as haOpen = (o+h+l+c)/4
haClose = (( (o1+h1+l1+c1)/4)+( (o1+h1+l1+c1)/4))/2
but when I tried the haHigh = MIN(H(((o1+h1+l1+c1)/4)+((o1+h1+l1+c1)/4))/2, (o+h+l+c)/4)
& the haLow = MAX(L(((o1+h1+l1+c1)/4)+((o1+h1+l1+c1)/4))/2, (o+h+l+c)/4)
It accepted it but gave erronous results (according to excel)
also at a loss as to how to alter the colour of the candles - thinking that if it can be done with BOP.....
Any suggestions pls??
|
|
Worden Trainer
Joined: 10/1/2004
Posts: 18,819
|
Use the PCFs I gave above. The notation you quote is not written in the PCF syntax so it will not produce accurate calculations.
- Craig
Here to Help!
|
|
|
Guest-1 |