haDelta (developed by Dan Valcu)
haDelta is a simple indicator originally developed and published by Mr. Dan Valcu.
The indicator is used quantify Heikin Ashi candles, measures the difference between HA close and HA open.
haDelta is sensitive indicator, measures the height of the candle body, for smoothing a 3 period SMA is used (similar to Qstick indicator).
The crossovers of haDelta and SMA(3) can give important early signals and confirmation together with Heiken Ashi candle patterns about possible trend reversals or trend exhaustion.
The zero line is also very important. Whenever haDelta and/or its SMA(3) crosses over the zero line, it gives further signal of possible strength of the trend.
Please note that haDelta is not for mechanic trading alone, but for use in conjunction with Heikin Ashi rules.
The indicator is used quantify Heikin Ashi candles, measures the difference between HA close and HA open.
haDelta is sensitive indicator, measures the height of the candle body, for smoothing a 3 period SMA is used (similar to Qstick indicator).
The crossovers of haDelta and SMA(3) can give important early signals and confirmation together with Heiken Ashi candle patterns about possible trend reversals or trend exhaustion.
The zero line is also very important. Whenever haDelta and/or its SMA(3) crosses over the zero line, it gives further signal of possible strength of the trend.
Please note that haDelta is not for mechanic trading alone, but for use in conjunction with Heikin Ashi rules.
// written by Kumowizard // special thanks to Mr. Dan Valcu, original developer of haDelta>SMA(3) // thanks for LazyBear for writing Qstick script previously // // The indicator measures difference between Heikin Ashi close and open // thus quantifies Heikin Ashi candles, to get earlier signals // haDelta smoothed by applying 3 period SMA // // For further interpretation and use please check Mr. Dan Valcu's work // study(title="haDelta by Dan Valcu", shorttitle="haDelta+SMA") delta = close - open plot(delta, color=black) s2=sma(delta, 3) plot(s2, color = red) plot(s2, color=red, style=area) c_color=s2 < 0 ? (s2 < s2[1] ? red : lime) : (s2 >= 0 ? (s2 > s2[1] ? lime : red) : na) plot(s2, color=c_color, style=circles, linewidth=2) h0 = hline(0)