NSDT HAMA Candles

HAMA (Heiken-Ashi Moving Average) Candles are built using different moving average lengths for the open, high, low, and close. Those levels are then run through the Heiken-Ashi Candle formula to create a new hybrid candle on the chart. There is an additional Moving Average plotted as well for overall direction.

This may be used best for identifying trending markets. By referencing the HAMA Candle indicator, it may help guide you to stay in a trade a bit longer, or wait a bit longer before entering at the beginning of a potential trend.

We added a Gradient Color scheme option for a more colorful view of potential trend directional changes. The gradient code is taken from the Pinecoders Gradient Framework (Pro Advance/Decline Gradient example) at

There are three different Moving Average types to choose from. (EMA, SMA, WMA). All MA lengths can be modified. All colors can be modified. All options can be turned on or off.

This was previously an "invite-only" indicator, but we decided to publish it publicly and open source.

Versionsinformation:

Updated to current code version.
Code logic was not changed.
Removed the "high" and "low" inputs as they were not needed.
The main MA line was modified from "close" to "hl2" for better average of candle price action.