OPEN-SOURCE SCRIPT
Updated LinReg Heikin Ashi Candles
Linear Regression Heikin Ashi Candles will dramatically change how the candlesticks on your chart will appear. This script creates Heikin Ashi candles from the existing candlesticks and then applies wickless Linear Regression candles as an overlay. The result is an ultra smoothed 'Renko-like' chart that remains time-based and responsive.
Key Features:
How to Use:
This is an overlay on your chart so you'll need to 'hide' the existing candlesticks on your chart.
This indicator can be used on any timeframe from seconds to days to quickly identify market trend, gauge volatility, and potentially find entry/exit points. Consider looking for confluence between the candle color/direction, T3 MA crossovers, and price interaction with the Volatility Bands.
Note: This indicator plots Linear Regression directly on Heikin Ashi candles, removing wicks for a focus on the linear trend within the smoothed data. Adjust the input parameters to suit your trading style and the specific market conditions.
HUGE CREDIT to ugurvu who originally created the Linear Regression Candles indicator that my indicator pulls code from.
Key Features:
- Heikin Ashi Base: Provides a smoother representation of price trends by filtering out noise.
- Linear Regression Candles on Heikin Ashi: Plots Linear Regression lines as candles on the Heikin Ashi chart, potentially highlighting the immediate trend direction and momentum within the smoothed data. Wicks are intentionally removed for a clearer focus on the linear progression.
- Tillson T3 Moving Averages: Includes fast and slow T3 Moving Averages with customizable length and alpha. These smoothed moving averages can help identify trend direction and potential crossover signals. Users can toggle their visibility.
- Volatility Bands: Integrates Volatility Bands based on Average True Range (ATR) with customizable length, ATR type (RMA, SMA, EMA, WMA), and inner/outer multipliers. These bands help gauge price volatility and potential reversal zones. Users can toggle the visibility of the basis line.
- Customizable Colors: Allows users to customize the colors of the Linear Regression Heikin Ashi bullish and bearish candles.
How to Use:
This is an overlay on your chart so you'll need to 'hide' the existing candlesticks on your chart.
This indicator can be used on any timeframe from seconds to days to quickly identify market trend, gauge volatility, and potentially find entry/exit points. Consider looking for confluence between the candle color/direction, T3 MA crossovers, and price interaction with the Volatility Bands.
Note: This indicator plots Linear Regression directly on Heikin Ashi candles, removing wicks for a focus on the linear trend within the smoothed data. Adjust the input parameters to suit your trading style and the specific market conditions.
HUGE CREDIT to ugurvu who originally created the Linear Regression Candles indicator that my indicator pulls code from.
Release Notes
Added the ability to disable volatility bands and T3 moving averages in settings for those who would like to only the candles overlay.Release Notes
- Added additional volatility band basis types (ALMA, KAMA, EMA, WMA, SMA, LSMA, HMA)- Improved volatility band fit
- Added basis buy/sell arrows on candle direction change (disabled by default, enable in settings)
Release Notes
Added alerts for candle direction changes and T3 moving average crossovers. Minor correction to volatility bands.
Release Notes
Short title correction. Color matching.
Release Notes
Added color customization for the custom volatility bandsVolatility bands now default to EMA for basis
Added color customization for the sell signal
Changed slow TA moving average default from 9 to 8
Improved organization of the settings options
Various fixes and minor changes
Release Notes
Added adjustable transparency for volatility bandsAdded color themes
Added ability to enable linear regression candle wicks
Release Notes
Updated color themesAdded futuristic color theme
Release Notes
- Users can now select from Linear Regression Heikin Ashi, Linear Regression, Heikin Ashi from the settings menu
- T3 is now correctly assigned to values for the selected candle type
- Slight correctly to volatility band candle value calculation
- Adjusted volatility band default values to match the above fix
Release Notes
- Performance optimizations
- Added 'Reduce Heikin Ashi Lag' for slightly improved HA responsiveness
- Added 'Reduce Linear Regression Lag' for improved LR responsiveness
- Added Extend Wick To Current Price
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
discord.gg/REapC6SGtz
b3artrades@gmail.com
b3artrades@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
discord.gg/REapC6SGtz
b3artrades@gmail.com
b3artrades@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.