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Heikin Ashi is a type of trading chart that originated in Japan, and it’s similar to candlestick charts in that the color of the candlestick denotes the direction the price is moving.
The main difference between traditional candlestick charts and Heikin Ashi (HA) charts is that HA charts the average price moves, creating a smoother appearance. Because the HA price bars are averaged, they don’t show the exact open and close prices for a particular time period.
Some traders want additional confirmation of trend direction, and Heikin Ashi charts are often used as a technical indicator on a typical candlestick chart, to help highlight and clarify the current trend.
Heikin Ashi charts are sometimes used on their own, especially by swing traders or investors. Day traders tend to use Heikin Ashi charts more as an indicator, as HA charts have certain other benefits.
The Heikin Ashi Calculation:
Heikin Ashi charts smooth price activity by calculating average values. An HA chart calculates its own open (HAO), high (HAH), low (HAL), and close (HAC) using the actual open (O), high (H), low (L), and close (C) of the time frame (1 minute, 5 minute, 15 minute, etc.).
Calculation:
HAO = (Open of previous bar + Close of previous bar) / 2
HAC = (Open + High + Low + Close) / 4
HAH = Highest of High, Open, or Close
HAL = Lowest of Low, Open, or Close
A mathematical formula is used for calculating each price bar on a Heikin Ashi chart. Because of this, you don’t know the exact price at which a given time period opened or closed. When day trading, this can be an issue, since knowing the exact price, especially when you’re trading off a chart, is important. For longer-term traders, this is less of an issue since the open and close of a price bar is not as important in trades that last weeks, months or years.
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