HeikinAshi4MetaStock 1.0

HeikinAshi4MetaStock 1.0 program for creating and updating Heikin Ashi data files in MetaStock, which lets MetastockTM users to design data files with modified open, high, low, close values and according to the computation rules for Heikin-ashi trend technique. Once these data files are created/updated, they can be displayed as Heikin Ashi trend charts in MetastockTM using the candlestick representation.

The directory with the original data files will not be modified. The program creates a new directory containing all the securities of the original directory and modifies the open, high, low and close values. As soon as you add new records to the original data directory Heikin Ashi4MetaStock will recognize the changes and will automatically update the data files in directory containing the Heikin Ashi values.

You can update the original MetaStock directory with any program you want. Heikin Ashi4MetaStock automatically detects the changes and will update the MetaStock directory containing the Heikin Ashi values. So you always have two consistent MetaStock directories although you have to service only one MetaStock directory. One directory contains the original the OHLC values, the second one contains the modified OHLC values.

Major Features:

1. Heikin Ashi Information
   • Most profits (and losses) are generated when markets are trending -so predicting trends correctly can be extremely helpful. Many traders use candlestick charts to help them locate such trends amid often erratic market volatility. The Heikin Ashi technique -"average bar" in Japanese - is one of many techniques used in conjunction with candlestick charts to improve the isolation of trends and to predict future prices.
2. Calculating the Heikin Ashi Bars
   • Normal candlestick charts are composed of a series of open-high-low-close (OHLC) bars set apart by a time series. The Heikin Ashi technique uses a modified formula:
   •  xClose = (Open+High+Low+Close)/4. Average price of the current bar
   •  xOpen = [xOpen(Previous Bar) + xClose(Previous Bar)]/2. Midpoint of the previous bar
   • xHigh = Max(High, xOpen, xClose). Highest value in the set
   • xLow = Min(Low, xOpen, xClose). Lowest value in the set
3.  Constructing the Chart
   • The Heikin Ashi chart is constructed like a regular candlestick chart (except with the new values above). The time series is defined by the user depending on the type of chart desired (daily, hourly, etc.). The down days are represented by filled bars, while the up days are represented by empty bars. Finally, all of the same candlestick patterns apply.