Real author:

RickD

The i-OneThird indicator draws candlesticks that correspond to the bullish and bearish patterns (in the style of Heiken Ashi).

The difference between High and Low of a candlestick is divided into 3 parts. The indicator determines the pattern by the way, which one third of the candlestick contains opening, and which one contains closing.

This indicator was first implemented in MQL4 and published in CodeBase on 07.06.2007.

Figure 1. The RickD indicator