Heikin-Ashi Candles Oscillator Long Term

The Heikin-Ashi Candles Oscillator Long Term was authored by Sylvain Vervoort in the Stocks And Commodities Magazine Aug 2012. For details see the article Long-Term Trading Using Exchange Traded Funds. The user may change the input (WP), methods (TEMA,EMA) and period lengths. This indicator’s definition is further expressed in the condensed code given in the calculation below.

How To Trade Using the Heikin Ashi Candles Oscillator LT

If the Heikin Ashi Candles Oscillator LT (HACOLT) equals 100 buy to take a long position and if the HACOLT is 50 exit the long position. A HACOLT value of 0 provides an opporunity for a short entry.

How To Access in MotiveWave

Go to the top menu, choose Study>Custom>Heikin Ashi Candles Oscillator LT

or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.

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Calculation

//input = price, user defined, default is weighted price
//method1 = moving average, user defined, default is TEMA
//temaPeriod = user defined, default is 55
//method2 = moving average, user defined, default is EMA
//emaPeriod = user defined, default is 60
//Candle Size Factor = user defined, default is 1.1
//index = current bar number

The Heikin Ashi Candles Oscillator LT code may be available on request