Heiken Ashi

A technical analysis chart type that filters out noise, so trends, consolidations and reversals are easier to identify and follow. The identification of: • an uptrend is defined by white candles • a downtrend is defined by black candles Similarly, identification of a strong: • uptrend is defined by long white bodies with no lower shadow • downtrend is defined by long black bodies with no upper shadow Reversals are identified by a: • change of color • Doji after a trend Consolidations are identified by a: • Series of Dojis Heiken Ashi candles use the following modified prices: haClose = (Open + High + Close + Low) / 4 haOpen = (Previous haOpen + Previous haClose) / 2 haHigh = Max (High, haOpen, haClose) haLow = Min (Low, haOpen, haClose)

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