Log in to see Cloud of Tags

Wealth-Lab Wiki

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

RSS

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.


Image

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 ( hacobar == 1 ) { SetBarColor( bar, Color.FromArgb( 130, Color.Green ) ); SetBackgroundColor( bar, Color.FromArgb( 50, Color.Green ) ); } else if ( hacobar < 1 ) { SetBarColor( bar, Color.FromArgb( 130, Color.Red ) ); SetBackgroundColor( bar, Color.FromArgb( 50, Color.Red ) ); } } } } }

Important Disclaimer: The information provided by Wealth-Lab is strictly for informational purposes and is not to be construed as advice or solicitation to buy or sell any security.  The owner of Wealth-Lab.com assumes no liability resulting from the use of the material contained herein for investment purposes. By using this web site, you agree to the terms of this disclaimer and our Terms of Use.


ScrewTurn Wiki. Some of the icons created by FamFamFam.