The indicator colors candles based on data from AO and AC indicators.
There are five inputs:
Data source – data source for calculating AO and AC
Price – price
Heiken Ashi – Heiken Ashi
Fast MA period – fast МА period for calculating AO and AC
Slow MA period – slow МА period for calculating AO and AC
AC period – AC calculation period
Calculating method – calculation method
AO – AO only
AC – AC only
AO+AC – both indicators
If AO line and/or AC is directed upwards, this is a bullish direction
If AO line and/or AC is directed downwards, this is a bearish direction
When AO and AC indicators coincide, the appropriate bullish or bearish zone is registered.
The neutral area is registered if AO and AC directions do not match. It may only happen in the Calculating method = AO+AC mode
A bullish candle in a bullish area is colored green
A bearish candle in a bullish area is colored light-green
A bearish candle in a bearish area is colored red
A bullish candle in a bearish area is colored light-red
A bullish candle in a neutral area is colored gray
A bearish candle in a neutral area is colored light-gray
Fig. 1. Heiken Ashi Zone Trade. The data source is a price
Fig. 2. Heiken Ashi Zone Trade. Data source – Heiken Ashi
