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Day Trader’s Aftermarket Lounge 28 July 2020, page-119

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db_nolan

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28/07/20

23:51

Post #: 46137351
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Originally posted by Patterns: ↑

@rmrm06 blue line is just the top of the body of todays candle on a Heiken Ashi chart. Because Heiken Ashi are an average price to cut down on background noise, price on the right hand side is not the current market price so I use the top of the body of the Heiken Ashi candle to get where price without the back ground price should be and convert it back to a normal candlestick so the price can be read on the right of the chart.
There are some important things to note on a Heiken Ashi chart, the first being that because it is an average price the next green candle in an uptrend always begins at the centrepoint of the previous candle. While ever the uptrend lasts the next green candle closes higher than the previous green candle. Here is today's Heiken Ashi daily chart of KTE 2.7 for purposes of comparison. Also here is a video on their use.
https://www.youtube.com/watch?v=UPtv7Mag2zc

KTE 2.7 Heiken Ashi candles

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correct me if I'm wrong, but your dark blue line at the top of the bodies is a manual input.... not something the chart auto generates. (for others playing along at home)
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