pjsHeikenAshi – A Heiken Ashi indicator for Ninjatrader 8
I have been using Heiken Ashi bars for many years. I developed my own, because the available indicators at the time did not fulfill my requirements and ninjatrader did not support them natively. NT8 has since added a crude version of HA. I call it crude, because it is implemented within the restrictions of their bar types, which means all the numbers are rounded to the nearest tick size. This can create some odd looking HA bars in instruments like NQ, and you loose a lot of the patterns and smoothing effect you would typically see on some other platforms. For this reason, this version is implemented as an indicator, not a native bar type. Of course, I also wanted better performance, optional volatility smoothing, to be able to use the HA bars with range and renko charts (not possible natively in NT), automation possibilities, and much more! This is it. The solution I came up with, refined and tested daily for many years now. It is the highest performing HA indicator I have tested and can produce some beautiful charts.
The traditional, and alternative Heiken Ashi calculations are available. Take a look at the 8 range MES chart below. This is what pjsHeikenAshi is good at. Keeping you in the trend, and probably more importantly, stopping you fighting it.
Full feature list
- Extremely efficient rendering with automatic degradation if required, during times of volatility on lower performing systems (the NT chart lag issue!). A huge amount of time was spent on making the rendering up to 300% more efficient than some of the other HA implementations.
- Works on any time frame, with ANY underlying bar type (including non time based charts)
- Don’t loose the ‘feel’ of the big, fast bars from time charts. pjsHeikenAshi will optionally detect abnormal volatility and optionally paint fast bars a different colour, so you know it was a fast move, even looking at historical data.
- Larger width candles (not enabled on very small bars as it’s pointless) are beautiful rendered with gradients. We spend a lot of time looking at candles. Let’s do them justice! 🙂
- Bar wicks and shadows are customisable for colour and line width
- HAOpen, HAClose, etc. are all exposed as plots for use in strategies and other automation
- ‘Equivolume’ style bars are supported. Our implementation will automatically size the bars according to the volume of the bars currently displayed on the screen. This gives you a relative bar size for the duration you are looking at, rather than the whole session, which we find much better given the volume at certain times (i.e. the open/close) can distort the numbers.
- Optionally, discreetly mark double tops and double bottoms on adjacent bars. This is surprisingly useful for scalpers!
- Unlike many other implementations, this indicator supports other indicators overriding it’s bar fill and outline colours, if you want to use that.
- Works with futures, FOREX, stocks, etc.
- Can override the existing plot, or use it in a separate indicator pane.
- Supplied free with an native NT add-on bar type which will efficiently hide the standard NT bars (if you desire).
- Many optional smoothing types are available, making this an excellent smoothed heiken Ashi implementation.
Here are the settings.
So there you go.
What do you think? Have any ideas? Let me know in the comments section below.
You might like to take a look at some of my other Ninjatrader bits and pieces.
2019.11.17 – Some bug fixes where smoothing is used as well as some additional new features and a tidying of the settings page.
Additional screenshots below
if you are using the pjsHeikenAshi indicator and want to hide the underlying NT8 bar type, select ‘NullStyle’ as the NT ‘Chart Style’, or select it from the bars drop down at the top of every chart. This is efficient as it stops the NT native bars plotting altogether. I’ve also bundled my ‘CandleStyleOneColour’, for free, in case you want to use that. It enables single colour candles, if you like those. Something NT8 natively does not do.
We are actual traders, trading real money and not just software developers trading SIM. We’ve traded with this indicator, live, for 1000’s of hours. We can offer some ideas for usage, though we strongly recommend you experiment and find your own edge. We’ll be posting more details here and some video content soon 🙂
if you already have a license key, please make sure you enter it in the indicator properties as part of the process of adding the indicator to your chart. Probably a good idea to ‘save as default’, so your key is remembered in your indicator template.
As usual, let me know below if any issues and I will try to resolve, time permitting.
This tool requires a license after the 7 day trial period. You can purchase one here. Please make sure the indicator meets your requirements, prior to purchase. Thanks for your support!
Can I install this on multiple computers? Yes – Up to 2 with the same licensed version of ninjatrader, with the same license key.
Can I disable volatility bars? Yes – Just set the numbers for the relevant configuration options to zero.
if you have any questions, please email us via the web site. If you already have the indicator, please be sure to provide your product key and machine id with the request. We cannot help you unless you provide your product key AND your machine id. Please note, your machine ID can be found in Ninjatrader, under the ‘Help, About’ menu.
Email me via the web site if you want to get in touch.