OmniTrader Professional Forum : Omni Pilot Discussion : OP and Heikin-Ashi

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OmniTrader Professional Forum Omni Pilot Discussion OP and Heikin-Ashi		Last Activity 4/26/2019 10:38 PM 8 replies, 6076 viewings

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hafnium

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Subject : OP and Heikin-Ashi
Posted : 12/21/2013 1:00 AM
Post #22485

Nirvana recently gave us the ability to have multiple HA time frames in each profile. Thanks.

Can we have HA as a time frame option in OP? We also still don't have NTB charts as a OP option.

Thanks.

[Edited by hafnium on 12/21/2013 1:03 AM]

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Ryan Olson

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Subject : RE: OP and Heikin-Ashi
Posted : 1/2/2014 3:51 PM
Post #22495 - In reply to #22485

hafnium,

This has been a topic that has been tossed around quite a bit over the past.

There currently are no definitive plans to incorporate NTB charts into OmniPilot. We have added the feature request for the development team to evaluate the possibilities.

Thanks,

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Lain Bogle

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Subject : RE: OP and Heikin-Ashi
Posted : 1/16/2014 2:18 PM
Post #22579 - In reply to #22495

Hi Ryan,

Since HA bars are not "real" NTB charts because they do follow the proper time sequence. They are basically just a mathematical indicator like a moving average that following the time period.

So wouldn't it be easy to make these tradable in OmniPilot?

Lain

[Edited by Lain Bogle on 1/16/2014 2:19 PM]

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roberthalljr

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Subject : RE: OP and Heikin-Ashi
Posted : 11/22/2014 12:18 PM
Post #23158 - In reply to #22485

In the new Secret Sauce 2, HA bars are used as signal generators. In fact they are an integral part of the "secret". As far as I can tell, they cannot be used to generate trades in OP; instead, OP switches back to the daily timeframe. However, the signals in the daily timeframe are different than HA timeframe. Should not this subject be revisted and somehow make HA bars happen with OP in order to take advantage of the automatic aspect of OP as opposed to doing it manually? Thanks.

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Jim Dean

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Subject : RE: OP and Heikin-Ashi
Posted : 11/22/2014 4:26 PM
Post #23159 - In reply to #23158

It is not possible for a trade to be controlled directly in relation to the pricepoints of a HA bar, since the pricepoints of that bar are theoretical and not real. The formulae for them:
Close = (Open+High+Low+Close)/4
Open = [Open (previous bar) + Close (previous bar)]/2
High = Max (High,Open,Close)
Low = Min (Low,Open, Close)

So, if for instance the close of the HA bar fires a signal to enter or exit, the actual entry or exit price relates to the underlying raw bar's Close, or the next underlying bar's Open. Except in coincidences, these prices don't correspond to the prices of the HA bar.

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roberthalljr

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Subject : RE: OP and Heikin-Ashi
Posted : 11/23/2014 9:55 AM
Post #23160 - In reply to #22485

Thank you for the reply. I realize that the HA bars are an average and not real. What is confusing is that it seems in the SS videos that trades are taken manually off the HA bars and what you are saying that is not the case. Apparently, the trade is taken off the real, underlying bar, the price being coincident at that time with the HA bar? So the question is how are trades, and options, generated with HA bars, both in RT and EOD, if they are at all? Must you, or does the program, always refer to the underlying in order to generate the trade? Lastly, assuming the trade cannot be taken off an HA bar, is there a workaround so that it can? Thanks again for your time and willingness to help.

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Jim Dean

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Subject : RE: OP and Heikin-Ashi
Posted : 11/23/2014 11:09 AM
Post #23161 - In reply to #23160

Here's an easy way to look at it. Think of the HA bars as the same thing as a moving average. You would not expect to trade off the moving average price itself but rather in response to the way the moving average is acting. Similarly with HA bars: the trades necessarily are based on the underlying price and not upon the construct that the HA bar represents.

You could choose to use the moving average price point as the threshold that a stop market or limit order is set by. But the actual trade depends upon the underlying bar crossing over that arbitrary threshold. Thus the HA bars give you an indication of what you might want to do, but the accomplishment of that is dependent upon the underlying bar.

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roberthalljr

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Subject : RE: OP and Heikin-Ashi
Posted : 11/23/2014 3:35 PM
Post #23162 - In reply to #22485

Perhaps one might think of it as a moving average within a bar. That being the case, (I think) I get it. Thanks for your insight.

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Jim Dean

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Subject : RE: OP and Heikin-Ashi
Posted : 11/23/2014 3:43 PM
Post #23163 - In reply to #23162

Excellent analogy. Similarly applies to the various NTB bars.

[Edited by Jim Dean on 11/23/2014 3:45 PM]

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