Heiken Ashi shares some characteristics with standard candlestick charts but differs based on the values used to create each candle. Instead of using the open, high, low, and close like standard candlestick charts, the Heikin-Ashi technique uses a modified formula based on two-period averages. This gives the chart a smoother appearance, making it easier to spots trends and reversals, but also obscures gaps and some price data.
Heikin Ashi in my perspective is one of the best trend detectors in long term scenarios. The use of Heiken Ashi Smoothed could be determined by the use of a moving average. The use of Smoothed with Simple, Exponential, and Hull Moving Average are included in this script.
Script Explanation:
This Script is going to plot us different Heikin Ashi when they are up ( Bullish ) is going to be colored. 7 different Time-Frames are going to be taken into account.
Also is possible to modify the Length Setting and the MA calculation.
Setting Options:
↪Scanner TIME:
↪This Script (Scanner) is going to show us different Heiken Ashi Time-Frames ↪7 in total. ↪Higher Time-Frames 60 - 120 - 240 - 480 - 1D - 3D -1W ↪Lower Time-Frames 1 - 5- 15 -30 -60 - 120 -240
↪Smoothed?:
↪Select Turn On/Turn Off ↪Is going to select or deselect Smoothed Heiken A. or change in base our configuration. ↪Select Type: ↪This option let us select between: ↪ Exponential and Hull Moving Average.
↪Length Options
↪Length 1 ↪Length 2 ↪ In EMA and SMA I prefer 1:3 and 1:5 ↪And In Hull MA. I prefer 10:1
↪Design Settings
↪Color Options
↪ U can select different color options. ↪ My Favorites are Orange, Aqua, and Purple.
↪Transparency ↪Set Transparency 0 is 100% visible and 100 is invisible.
↪LineWidth (defval= 5)
↪Set the thickness
↪Show Information Panel
↪ We are going to have a little informative panel in the right so we could have a quick look at the trend.