TASC 2008-12 | Heikin-Ashi Candlestick Oscillator (HACO) (Vervoort)

Modified on 2019/02/16 17:37 by Eugene — Categorized as: TASC Traders Tips

Traders' Tip text

In December 2008 issue of the TASC magazine, Sylvain Vervoort guides us step by step in an entertaining tutorial of building a customized candlestick oscillator. Utilizing the Heikin-Ashi chart's consistency, it provides an overlay tool that allows for some discretion to help holding onto a profitable trade.

Figure 1. Here is how HACO was signaling about a downtrend in Euro in Summer'2008.

The Heikin-Ashi Candlestick Oscillator (HACO), as presented by its author in this issue, is available to Wealth-Lab Developer/Pro 6 users. To power your chart analysis with HACO, just select «Extension Manager» from the Tools menu to update TASC Indicators library (open source).

Strategy Code


using System;
using System.Collections.Generic;
using System.Text;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;
using TASCIndicators;

namespace WealthLab.Strategies
{
	public class HACO_Demo : WealthScript
	{
		// Create slider parameters
		
		private StrategyParameter TemaPeriod;
		private StrategyParameter timeoutPeriod;
		
		public HACO_Demo()
		{
			TemaPeriod = CreateParameter("TEMA Period", 34, 10, 120, 1);
			timeoutPeriod = CreateParameter("Timeout", 2, 1, 3, 1);
		}		
		
		protected override void Execute()
		{
			// Plot HACO

			int period = TemaPeriod.ValueInt;
			HACO haco = HACO.Series( Bars, period, timeoutPeriod.ValueInt );
			ChartPane hacoPane = CreatePane( 20, true, true );
			PlotSeries( hacoPane, haco, Color.BlueViolet, LineStyle.Solid, 2 );
			HideVolume();
			
			for(int bar = period*3; bar < Bars.Count; bar++)
			{
				if ( haco[bar] == 1 )
				{
					SetBarColor( bar, Color.FromArgb( 130, Color.Green ) );
					SetBackgroundColor( bar, Color.FromArgb( 50, Color.Green ) );
				}
				else if ( haco[bar] < 1 )
				{
					SetBarColor( bar, Color.FromArgb( 130, Color.Red ) );
					SetBackgroundColor( bar, Color.FromArgb( 50, Color.Red ) );
				}
			}
		}
	}
}