Heikin Ashi Freeware

@all,

perhaps interesting for someone:

a little freeware Heikin Ashi Tool, which converts EOD and Intraday data files to Heikin Ashi data files (ASCII/Text formats) and shows charts of price data and Heikin Ashi candles. Heikin Ashi Charts can be a good visual trend indicator.

Zen Heikin Ashi Converter v1.5e - free download here:
http://www.zentrader.de/html/support1.html

bye,
zentrader

Attached Images

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Hi friend,
I am interested very much in Heikin Ashi Candle,
I have a Software which can convert Data into HeikinAshi for Metastock,

Let us discuss..please

Prakash

HEKIN ASHI

here are five primary signals that identify trends and buying opportunities:

Hollow candles with no lower "shadows" indicate a strong uptrend: let your profits ride!
Hollow candles signify an uptrend: you might want to add to your long position, and exit short positions.
One candle with a small body surrounded by upper and lower shadows indicates a trend change: risk-loving traders might buy or sell here, while others will wait for confirmation before going short or long.
Filled candles indicate a downtrend: you might want to add to your short position, and exit long positions.
Filled candles with no higher shadows identify a strong downtrend: stay short until there's a change in trend.
These signals show that locating trends or opportunities becomes a lot easier with this
system. The trends are not interrupted by false signals as often, and are thus more easily
spotted. Furthermore, opportunities to buy during times of consolidation are also
apparent.
Positive candles (blue) containing no wicks: There is strong uptrend momentum in the session and it will likely continue. Here, the trader will have a hands-off approach to profits while strongly considering adding on to the position.
Positive candles (blue) containing shadows or wicks: Strength continues to support the price action higher. At this point, with upside potential still present, the investor will likely consider the notion of adding to the overall position.
A smaller candle body with longer wicks: Similar to the doji candlestick formation, this candle suggests a near-term turnaround in the overall trend. Signaling indecision, market participants are likely to wait for further directional bias before pushing the market one way or the other. Traders following on the signal will likely prefer confirmation before initiating any positions.
Negative candles (red) containing shadows or wicks: Weakness or negative momentum is supporting the price action lower in the market. As a result, traders will want to begin exiting initial long positions or selling positions at this point.
Negative candles (red) containing no shadows or wicks: Selling momentum is strong and will likely support a move lower in the overall decline. As a result, the trader would do well to add to existing short holdings.


Different candles in a Heikin-Ashi chart:

1- Bullish candles:

When the market is Bullish, Heikin-Ashi candles have big bodies and long upper shadows but no lower shadow. Look at the big uptrend in the below chart. As you see almost all of the candles have big bodies, long upper shadows and no lower shadow.


2- Bearish candles:

When the market is Bearish, Heikin-Ashi candles have big bodies and long lower shadows but no upper shadow. Look at the big downtrend in the below chart. As you see almost all of the candles have big bodies, long lower shadows and no upper shadow.


3- Reversal candles:

Reversal candles in the Heikin-Ashi charts look like Doji candlesticks. They have no or very small bodies but long upper and lower shadows. Look at the reversal candles in the below chart:



.


How can you use the Heikin-Ashi chart in your trades?
Have both the candlestick and Heikin-Ashi on your chart and add a 14, 7, 3 Stochastic. Buy when both of the Stochastic fast and slow lines go up from the oversold area and at the same time both the candlestick and Heikin-Ashi charts show reversal signals. Sell when both of the Stochastic fast and slow lines go down from the overbought area and at the same time both the candlestick and Heikin-Ashi charts show reversal signals.









Identify support or resistance: Although not a full requirement, this helps to establish a viewpoint where a directional bias can be established. This will likely help in isolating points of entry, assisting with stop placement and risk assessment. In the example, there is ample support that is coming in at the 69.25 figure, offering a great opportunity for a long trade.

Overlay the technical indicator: The stochastic oscillator assists in suggesting bidding support as both indicators begin to form a golden cross. The cross at Point B confirms the trade bias and isolates the point of entry.

Confirm with Heikin Ashi: Obtaining the entry point off of support and the technically bullish crossover in the stochastic, the trader can confirm the strength of the nascent trend by using the smoother based candles. In the visual example at Point C, the chartist can see that the doji is indicative of the shift in momentum as sellers begin to exit the market. Simultaneously, the following longer bodied candle signifies a stronger uptrend in buying.
Place Entry Order: Now, with the directional bias confirmed, the trader will do well to place the entry 5 to 10 points above the doji session high. Although the order can actually be placed at the high or any other position in the session, the placement in this case is in order to capitalize on a breakout of price action (Point D). As a result, the entry is placed at 69.90. Placing the corresponding stop 5 points below the support will ensure a viable test. Should the level be broken to the downside, the previous trade is negated on overriding selling momentum. However, in this case, our indicators confirmed the directional bias, profiting 360 points before topping out for the first time two weeks.

Some stuff from me.
Sunando