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Dynamic TA Charts

Candlestick Styles

Heikin-Ashi Chart

The Heikin-Ashi is a type of candlestick chart that shares many characteristics with standard candlestick charts, but differs because of the values used to create each bar. Instead of using the open-high-low-close (OHLC) bars like standard candlestick charts, the Heikin-Ashi technique uses a modified formula.

Calculation

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:

Price Formula
xClose (Open + High + Low + Close) / 4
xOpen [xOpen(Previous Bar) + xClose(Previous Bar)] / 2
xHigh Max(High, xOpen, xClose)
xLow Min(Low, xOpen, xClose)

Hollow Solid Candlestick Chart

The Hollow Solid Candlestick is a type of candlestick chart which compares previous day close to current day close (Green/Red) and current day open to current day close (Hollow/Solid).

Type of candle Description
Solid candle Closing price of current candle is lower than Opening price of the current candle (Close < Open)
Hollow candle Closing price of current candle is higher than Opening price of the current candle (Close > Open)
Green candle Closing price of current candle is higher or equal to Closing price of previous candle (Close >= Previous Close)
Red candle Closing price of current candle is lower than Closing price of previous candle (Close < Previous Close)