Heikin Ashi candlesticks gives a smoother appearance by reducing some of the market noise, hence making it easier to spots trends and reversals. There is a tendency with Heikin-Ashi for the candles to stay red during a downtrend and green during an uptrend
Heikin-Ashi calculation uses a formula based on two-period averages
How to read Heikin-Ashi candles
Green candles indicate an uptrend and in case with no lower shadows the move can be assumed a strong uptrend Red candles indicate a downtrend and if with no higher shadows a strong downtrend
Candles with a small body surrounded by upper and lower shadows indicate a potential trend change or trend pause
the Heikin-Ashi candlesticks do not show the exact open and close prices for a particular time period because they are averaged hence who need to exploit quick price moves may find Heikin-Ashi charts are not responsive enough to be useful
For whom interested with Higher Time Frame Candle presentation on lower time frame chart including Heikin-Ashi candles are invited to check HTF Candles
@dgtrd,Hi, I'm a newbie - thanks for the great work. I tried searching for this pattern but trading view doesn't show it. Is it available on the trial version?
dgtrd
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hi @Tradeprotege, it is available in tradingview beside other candlesticks, you can enable Heikin Ashi in the chart type settings
Top top top! You are amazing and I love your work! Thanks so much my dear friend!
dgtrd
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:) Thank You very much @Ether2020, so happy to hear
Ether2020
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@dgtrd, 200 coins is nothing at all compared to what you are doing and sharing for traders but of course it is symbolic. Helping people makes one feel good when you know it will benefit them. That is also the reason I post analyses myself. Thanks again so much and I am a really happy follower from you my dear friend!
dgtrd
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@Ether2020, you are so kind and so nice :). You have just expalined my feelings too. I may say that i learn a lot from this great community, eighter from their valuable comments including yours too or trades, coders publications.