Bodies of candles(open-close) are the main component used to indicate and assess trend direction, strength, and reversals.
The indicator measures difference between Heikin Ashi close and open.
Measuring the height of candle bodies leads to extreme values that point to trend slowdowns. Thus quantifies Heikin Ashi to get earlier signals.
I used this indicator on Heiken Ashi charts but, it's possible to choose to calculate Body size based on Heiken Ashi or Candles.
haDelta can be smoothed with a .
We see that crossings between the haDelta and confirm trend changes with an anticipated delay introduced by each average. Crossings between the indicator and its average are better
confirmations of trend changes.
When Delta crosses above it is an uptrend.
When Delta crosses below it is a downtrend.
Default haDelta smoothed value is by applying 3 periods .
Also, it is possible to deactivate and see just The Delta Values.
In this indicator can choose the MA period and type.
This version has an option that makes it possible to draw dynamic levels. By choosing Dynamic from levels Type and set your preferred length.
The Length value is the max value in the past candles that are used to draw the levels.
In this version, I added the Z-score level. By choosing z-score areas the z-score is above 2 or below -2 shown by colors. I also added Alert ability into the indicator. The alert has two modes. First, when level type equals Z-Score it shows signals where delta cross ma and Z-Score are below or above high and low levels.
The second mode is when the level type is not Z-Score it shows delta cross ma.
So far, this is the description of the indicator(haDelta), which has been written separately and published for the public. In this indicator, we intend to smooth the value of haDelta we get using moving averages.
A simple three-day moving average has been applied to the Delta(3) and its MA to reduce the number of false signals generated by haDelta.
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