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--- In equismetastock@xxxxxxxxxxxxxxx, "Alexander Atreides"
<alexatreides@xxxx> wrote:
> Greetings everyone,
>
> I am interested in a Metastock formula which would plot Heikin-Ashi
> candlesticks. (S&C April/2004, Dan Valcu).
>
> Any volunteers ?
>
> Kind Regs
> alexatreides
>From the February article in Stocks and Commodities Magazine:
Here are the definitions for the modified OHLC values for the heikin-
ashi candlestick technique.
haClose = (O+H+L+C)/4
haOpen = (haOpen (previous bar) + haClose (previous bar))/2
haHigh = Maximum(H, haOpen, haClose)
haLow = Minimum(L, haOpen, haClose)
______________________________________________________________________
____
Here's how to calculate the modified OHCL values using a spreadsheet
for the heikin-ashi candlestick technique.
Heikin-Ashi OHLC values
To illustrate the calculation of heikin-ashi OHCL values in a
spreadsheet (sidebar Figure 1), I used daily data for the US Dollar
Index (4/24/03-8/22/03). You can use intraday, weekly, or any other
time frame for the data.
To build the data table and the chart associated with it, follow
these steps:
Step 1: Copy daily data (date, open, high, low, close) into columns
A, B, C, D, and E, through to the last column. Step 2: Reserve
columns F, G, H, and I as heikin-ashi values for modified open, high,
low, and close: haOpen, haHigh, haLow, haClose. Step 3: Enter the
following formulas corresponding to the first day in the data table:
In cell F2: =B2
In cell G2: =MAX(C2,F2,I2)
In cell H2: =MIN(D2,F2,I2)
In cell I2: =SUM(B2:E2)/4
Observe that cell F2 contains the value for the real
open for day 1.
You also have the option to enter zero in cell F2 and
MIN(D2,I2) in cell H2. But in this case the range used
to display the chart will be the date for the x axis,
and haOpen, haHigh, haLow, and haClose for the y axis.
Step 4: Enter the following formulas:
In cell F3: =(F2+I2)/2
In cell G3: =MAX(C3,F3,I3)
In cell H3: =MIN(D3,F3,I3)
In cell I3: =SUM(B3:E3)/4
Step 5: Select cells F3, G3, H3, and I3 and copy them down to the end
of price data. Columns F, G, H, and I now contain the heikin-ashi
values for open, high, low, and close. Step 6: Create a candlestick
chart in Excel using the date (column A) for the x axis and range F2
to the last value in column I as the data range. The chart should
look like the one in sidebar Figure 2.
-DV
______________________________________________________________________
____
Here are MetaStock formulas for indicators based on heikin-ashi
candlestick OHLC values.
Defining simple indicators with MetaStock based on modified OHLC
values
In MetaStock, choose Tools, Indicator Builder, and New to create
these four new indicators:
Name: haClose
haclose:=(O+H+L+C)/4;
haclose;
Name: haOpen
haopen:=(PREV+Ref(Fml("haClose"),-1))/2;
haopen;
Name: haDiffCO
hadiffco:= Fml("haClose") - Fml("haOpen");
hadiffco;
Name: Mov-haDiffCO
Periods:=Input("Time periods",3,50,3);
movhadiffco:= Mov(Fml("haDiffCO"),Periods,S);
movhadiffco;
-DV
______________________________________________________________________
____
Here are the formulas for the heikin-ashi candlesticks given on page
28 of Dan Valcu's article.
Another interesting feature is the anticipation of a change in the
strength of the next trading bar. Assume you are at the end of
today's trading session. Based on the calculation of haOpen:
haOpen (tomorrow) = (haOpen(today) + haClose(today))/2 (A)
The position of haClose(tomorrow) versus haOpen(tomorrow)
will determine the color of the candle body:
If haClose(tomorrow) > haOpen(tomorrow) (B)
Body (tomorrow) = white
Else
Body (tomorrow) = filled/red
Endif
______________________________________________________________
Software is available at:
http://www.educofin.com/software/heikin-ashi/metastock.html
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