Wednesday, February 8, 2023

Heiken Ashi with Doji Spotter

This is the standard Heiken Ashi, but with the option to spot Dojis and colour them differently.

Basically, if the body of the candle is less than a certain percentage of the total range for that candle, then it’s a doji. That’s the premise behind this. A Doji for Heiken Ashi is typically almost no body at all, with a long head and tail. I default the value to 10% of the total range, but I personally have been testing with the value at 4%. YMMV.