[LAVA] Heiken Ashi Re-Enter Levels
Using Heiken Ashi at customizable higher intervals and some standard deviation of candle lengths, some of the guesswork of picking tops and bottoms can be reduced using this tool.
This indicator is a variation of another tool that I plan on certifying as a low-cost subscription option.
This indicator is a variation of another tool that I plan on certifying as a low-cost subscription option.
// Tradingview.com Pinescript @author Ni6HTH4wK [LAVA] study(title="[LAVA] Heiken Ashi Re-Enter Levels", overlay=true) // Inputs n1 = input(20, title="Multiplier", minval=1) n2 = input(100, title="Trend Length", minval=1) // Sources hk_open = security(heikenashi(tickerid), tostring((interval*n1)), open) hk_stop = security(heikenashi(tickerid), tostring((interval*n1)), close) hk_local_open = na(hk_open[1])?open:(hk_open[1]+ohlc4[1])/2 hk_local_stop = ohlc4 hk_cci = cci(ohlc4, n1) // Source logic oc2 = avg(hk_open,hk_stop) oc_hi = max(hk_local_open,hk_local_stop) oc_lo = min(hk_local_open,hk_local_stop) oc_dif = avg(oc_hi-oc_lo, high-low) dif_ema = ema(oc_dif, 14) std_dev = stdev(dif_ema, 20)*3+dif_ema // Heiken Ashi Logic hk_bull = hk_stop>hk_open?low>=hk_open?3*std_dev+hk_bull[1]:1*std_dev+hk_bull[1]:0 hk_bear = hk_open>hk_stop?high<=hk_open?3*std_dev+hk_bear[1]:1*std_dev+hk_bear[1]:0 hk_bearfish = sma(hk_bear, n2) hk_bearwale = sma(hk_bearfish, n2*2) hk_bullfish = sma(hk_bull, n2) hk_bullwale = sma(hk_bullfish, n2*2) hk_bot = hk_bullfish>hk_bullwale?hk_bull and hk_cci<0?oc2-std_dev:0:0 hk_top = hk_bearfish>hk_bearwale?hk_bear and hk_cci>0?oc2+std_dev:0:0 // Plotting plot(hk_top>0?hk_top:na, title="Bearish Tops", color=red, style=circles, linewidth=2) plot(hk_bot>0?hk_bot:na, title="Bullish Bottoms", color=green, style=circles, linewidth=2)