Heikin-Ashai efs

[venture99]

The Heikin-Ashi(Price only) efs (Alex 1/30/04) changes only the colors of the bars, but not the OHLC of bars when it makes a chart. As I undestand this efs it should replace the normal price series with the Heikin price series in the main price region. Then any indicators applied will use the Heikin series as their datasource. Am I correct?, Why does the efs fail?
Regards, Venture99

[cosmic]

indicators on hk technique

Hey,

jep, you absolutly can apply any indicator directly on the HK-Candle Chart, but I dought it would be really useful, cause it simply will add signal lag & that's not really what we're traders after, right? though this totally depends on stlye...

If you still would like to do so, just programm the HK candles right into the basic indicators, perhaps incorporating some sort of conditional switch between unsmoothed OHLC values & the HK ones...

Best & have a good start tomorrow,

cosmic

[ACM]

venture99
An efs cannot change or replace the price series.
If you want to plot the Heikin-Ashi price bars you need to use the original study by JasonK which is available here.
The efs you are referring was a modification done on a request to only color the bars based on the Heikin-Ashi study.
Alex