OPEN-SOURCE SCRIPT
Half Trend HeikinAshi [BigBeluga]
NIFTY50:
NVIDIA:
🔵 IDEA
The thinking behind this Half Trend HeikinAshi indicator is pretty straightforward: it’s designed to give you a flexible way to detect trends and trend reversals, but with an added bonus—measuring trend strength via Heikin Ashi candles. The core idea is based on the classic half-trend strategy, where it adjusts to the highest and lowest price values within a certain period. The Heikin Ashi transformation smooths out half-trend line, making it easier to spot solid trends and potential reversals.
🔵 KEY FEATURES & USAGE
◉ Half Trend Calculation with Reversal Signals:
The main feature here is spotting trends based on a moving average of the close price and the highest/lowest price data.
When the trend flips, you’ll see arrows on your chart—either pointing up or down—marking the exact price where that reversal occurred. This makes it easy to see where the market might turn, which is helpful for timing entries and exits.
◉ Heikin Ashi Candlestick Transformation:
There’s a Heikin Ashi mode that transforms the half-trend line into Heikin Ashi candles.
These smooth out market noise and make the overall trend much clearer.
◉ Trend Strength Calculation:
The indicator doesn’t just stop at showing trends. It also calculates trend strength based on the size of the Heikin Ashi candles. Bigger candles mean stronger trends, and smaller ones indicate weaker momentum. You can see this displayed on the dashboard, so you know exactly how strong the current trend is at any moment.
◉ Graphical Dashboard Display:
You’ve got a small dashboard right on the chart that shows key info like the ticker, timeframe, and whether the trend is up or down. If you’re in Heikin Ashi mode, it shows trend strength instead. So, no need to dig through the data—you can just glance at the dashboard for a quick market read.
🔵 CUSTOMIZATION
- Amplitude Input: You can tweak the amplitude to control how sensitive the half-trend line is. A lower setting makes it more reactive to small price moves, while a higher setting smooths it out for longer-term trends.
- Heikin Ashi Toggle: You can easily switch between standard half-trend lines and Heikin Ashi candle mode, depending on how you prefer to see the market.
- Trend Colors: You’ve got control over the colors for up and down trends, so you can adjust the appearance to fit your charting style.
- Signal Labels size: Change Labels signal sizes for your preference
🔵 CONCLUSION
The Half Trend HeikinAshi indicator is a solid tool for tracking trends and measuring their strength. By combining the usual half-trend signals with Heikin Ashi candles, you get a clearer picture of what’s happening in the market. Whether you're looking to spot potential reversals or just want to measure the strength of a current trend, this indicator gives you plenty of flexibility to do both.
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All scripts & content provided by BigBeluga are for informational & educational purposes only.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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