Syntax
public HACO(Bars bars, int avg, int setuptimeout, string description)
public static HACO Series (Bars bars, int avg, int setuptimeout)
Parameter Description
| avg | Triple exponential moving average (TEMA) lookback period |
| setuptimeout | A timeout used to keep the bars as green/red as possible during an uptrend/downtrend with little delay at turning points, eliminating all single-day reactions by extending a previous green/red candle by at least one more bar. |
Description
HACO (short for Heikin-Ashi Candlestick Oscillator) is an oscillator version of the Heikin-Ashi candlesticks, tweaked according to a method presented in the December, 2008 issue of Stocks & Commodities magazine by Sylvain Vervoort. It has either a value of zero for a red candle or "1" for a green candle. This visual tool, although not designed to be traded in automatic way, utilizes the trademark consistency of the Heikin-Ashi candles to show as many black candles in a downtrend as possible, and respectively as many white candles in an uptrend.
NOTE! Breaking change to HACO in v2019.03 of TASCIndicators: the formula has been modified according to author's followup.
WAS:
keep1:=Alert(haC>=haOpen,2);
IS:
keep1:=Alert(haC>=haOpen,2) OR If(C>=haC,1, If(H>Ref(H,-1) OR L>Ref(L,-1),1,0));Refer to his website for the complete
improvement note.
Example
Refer to code in the original
TASC Traders' Tips here.