OPEN-SOURCE SCRIPT

Smoothed Heikin Ashi + MA MTF

70
📊 MTF Smoothed Heikin Ashi + MA Cross (SHA_MA)This indicator combines a double-smoothed Heikin Ashi (SHA) with the popular 50 and 200 Simple Moving Averages (SMAs), all wrapped in a robust Multi-Timeframe (MTF) engine.This tool is designed to help traders identify and confirm trend direction across multiple timeframes, providing cleaner signals than standard Heikin Ashi candles.

Key Features and BenefitsDouble-Smoothed Heikin Ashi (SHA):SHA candles are created by applying an Exponential Moving Average (EMA) twice to the standard Heikin Ashi calculation.This significantly filters out market noise and choppy price action, making trend reversals and continuations clearer and more reliable.Color Logic: Candles are colored green (lime) when the SHA Close is above the SHA Open (Bullish) and red when the Close is below the Open (Bearish).Multi-Timeframe (MTF) Capability:You can set the SHA candles, MA50, and MA200 to calculate on a higher timeframe (e.g., 4-Hour) while viewing your main chart on a lower timeframe (e.g., 15-Minute).This is crucial for ensuring your trades are aligned with the overall larger trend direction (top-down analysis).Self-Correction: The script automatically prevents errors by reverting the indicator to the chart's native timeframe if a timeframe lower than the chart's is mistakenly selected.Key Moving Averages:Includes the industry-standard 50 SMA (Fast) and 200 SMA (Slow).The crossover between the two MAs (Golden/Death Cross) acts as a powerful confirmation signal for the SHA trend.

⚙️ How to Use ItTrend Confirmation: Use the SHA candle color (Green/Red) to confirm the short-term trend.Long-Term Bias: Use the MA200 as the primary filter. Only look for long entries when price is above the MA200, and short entries when price is below it.MTF Alignment: Set the "Indicator Timeframe" input to a higher level (e.g., 4H or 1D) to ensure your entry timeframe is trading in the direction of the macro trend.CustomizationSettingDefault ValuePurposeIndicator TimeframeChartSet to a higher TF (e.g., 1h, 4h) for MTF analysis.SHA EMA Length 1 & 210Controls the level of smoothing applied to the candles. Higher values mean less noise but more lag.MA 50 & 200 Length50 & 200Standard Moving Average periods.\

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