Strange representation of Heikin Ashi candles, how is it interpreted?
I am studying the technical indicators one by one and when I thought I had fully understood the Heikin Ashi candlestick indicator (watching various tutorials on the Internet), I have applied it in my Metatrader 5. And I have come across this:
Where very strange things appear:
In particular, a candle with 2 bodies that I have marked in Fuchsia.
Also, please, what do the different white and black bodies of the candles mean?
In all the searches that I have done on the Internet, the Heikin Ashi candles are either red or green (or the color that you designate), that is, they have a bi-color code.
But in the photo above we are seeing that, in reality, we have a 4-color code: (green, red, white and black). As well as "decapitated" bodies.
And I can't understand it, since I can't find information on the Internet about this strange code...
So... please, help!
Well actually it's not an heiken ashi candle. It's the normal candle, the heiken ashi overlayed. 😉
Set the chart to a line graph and if you wish to remove the line graph too, the set the colour of the line graph to "none".
If you use my Heikin Ashi indicator below, it does that for you automatically from the Indicator's input options.
Dōteki Heikin Ashi (Dynamic Average Foot/Bar)
Fernando Carreiro, 2018.10.15 17:33
A dynamic version of the standard Heikin Ashi indicator (code compatible with both MQL4 or MQL5).
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I am studying the technical indicators one by one and when I thought I had fully understood the Heikin Ashi candlestick indicator (watching various tutorials on the Internet), I have applied it in my Metatrader 5. And I have come across this:
Where very strange things appear:
In particular, a candle with 2 bodies that I have marked in Fuchsia.
Also, please, what do the different white and black bodies of the candles mean?
In all the searches that I have done on the Internet, the Heikin Ashi candles are either red or green (or the color that you designate), that is, they have a bi-color code.
But in the photo above we are seeing that, in reality, we have a 4-color code: (green, red, white and black). As well as "decapitated" bodies.
And I can't understand it, since I can't find information on the Internet about this strange code...
So... please, help!