One of the main functionality of Heikin Ashi is to provide a smoothed price to get clarity in trends. This script builds upon the Heikin Ashi I published in 2020 that took the standard Heikin Ashi calculations and added the actual closing price.
The improved version adds a new smoothing calculation to give traders an even better way to display trends. In addition to that, a Heikin Ashi based moving average is added to guide you to take trades in the trend direction. The best part is the users have the ability to display both the real closing price and the Improved Heikin Ashi closing price.
With a few modifications within the smoothing settings, the users can get features like Candle Cloud that provides traders with functionalities like .
This indicator serves as a trend tool with enhanced features of the original Heikin Ashi calculations. The indicator help traders to take trades in the same direction of the trend. The new improved version gives traders a new better way to make use of all Heikin Ashi strategies that have been developed during the years. Apply the same methods with this new version.
Disclaimer: No financial advice, only for educational/entertainment purposes.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.