BERLIN Candles

A problem with Heikin Ashi is that while it gives you a great overview of overall direction, it is rarely possible to use it as a replacement for normal japanese
candlesticks . The reason for this is that actual price data is lost, since the candles are more akin to a moving average than a different way to see price action. Also, with Heikin Ashi, most of the actual price action is lost, because the candles can be bigger than the high and low of the underlying japanese candlestick .

With BERLIN Candles I have tried to fix that problem. By using a smoothed out version of the previous Heikin Ashi candle close as the current BERLIN Candle open, the high and low of the actual japanese candlestick for the high and low of the BERLIN Candle, and the current Heikin Ashi close as the BERLIN Candle close, while setting hard limits for BERLIN Candle open and close values so that they can never exceed the high and low of the underlying japanese candlestick .

One problem still persists though. The actual current price data is lost. However, the BERLIN Candles have solved this by adding a fifth part to the candles. The close of the underlying japanese candlesticks are indicated with a plus-sign. This way, actual price data is never lost, while keeping all of the other benefits of this type of candles.

A few added bonuses:
  • The addition of the 14 period ATR at the latest candle
  • The baseline from Ichimoku is included as an option
  • The 14 period ATR value of each candle can be seen in the indicator data as
    the orange value
Hilangkan dari Skrip-Skrip Favorit Tambahkan ke Skrip-Skrip Favorit


I like your work, thanks! Can you tell me what the ATR figure is and how I should use it it trading on a candle? Thanks, Ian
Hello there, this looks really good!

I am looking to use the HA data as an input for my Weis Wave Volume indicator but place accurate trades on the actual price data. I have posted an idea in my profile if you wish to see what I mean.

How would I be able to use - with your permission- your BERLIN candle to achieve this?

Thanks for your time!!
lejmer sam_packer
@sam_packer, The actual price close is shown as the plus sign on the candles, so you can use that to actually place the trades. If you want to use the close price of the BERLIN Candles (which are almost like Heikin Ashi) as input in another indicator, make sure the indicator has an input option to choose the source, and just choose the "BERLIN Candles - Candle close (use as source for other indicators)" option as the source in that indicator.
Really good !!!
Hello Lejmer. I belive this is just what i am looking. I want to work with Heiken Ashi but they have been a pain in the ass for entries. Could yo be so kind to explain me what does it mean the crosses on the wicks? Are they the close of a regular japanese candlestick ? The idea of this is use this crosses as entrie points like if the close of japanese candlesticks?
lejmer Vinaluag
@Vinaluag, Yes, the crosses are the real closing prices, so you don't lose this information, like you do with normal HA candles.
This is quite a concept - Kudo's @lejmer for coming up with this!

I'm trying to wrap my head around whether this can be made (and used) into a "Strategy" script for entries/exits given you note that you've solved the problem with Heikin Ashi and the loss of price data?

Any thoughts?
lejmer aNuFFi
@aNuFFi, It can definitely be turned into a Strategy script. If you want to try out strategies on your chart first, you can use the outputs from the indicator as inputs for other indicators as long as they have a Source option. Once you found a way to use the candles together with a few other indicators as a Strategy, there is no reason this couldn't be turned into a Strategy script. I wouldn't trade using the candles on their own though, just like trading Heikin Ashi on its own isn't recommended either. I know a few people who do use these candles as an exit indicator though, exiting when the candles change color to the opposite color of the trade direction. So that is one idea of how to use this. Another is to see the trend clearer and filter out some of the noise normal japanese candlesticks give you. It can make some price action patterns easier to spot too.
+2 Jawab
I quite like this. Combines the best of normal candles with HA. Anyway to make the existing TV candles invisible though?
Beranda Penyaring Saham Penyaring Forex Penyaring Crypto Kalender Ekonomi Bagaimana Cara Kerjanya Fitur-Fitur Chart Harga Akun Refer seorang teman Tata Tertib Pusat Bantuan Solusi Website & Broker Widget-Widget Solusi Charting Perpustakaan Charting Ringan Blog & Berita Twitter
Profil Pengaturan Profil Akun dan Penagihan Teman yang di refer Koin Tiket Dukungan Saya Pusat Bantuan Ide Terpublikasikan Pengikut Mengikuti Pesan Pribadi Obrolan Keluar