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Heikin-Ashi Technique and NMA aka NRTR Trading system

Posted: 26 Jan 2010 09:44 AM PST


NMA(Nick Moving Average) alias NRTR(Nick Rypock Trailing Reverse Trading system) uses Heikin-Ashi Technique.

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:

Close = (Open+High+Low+Close)/4
Open = [Open (previous bar) + Close (previous bar)]/2
High = Max (High,Open,Close)
Low = Min (Low,Open, Close)

The above formula can be achieved by the following afl code

HACLOSE=(O+H+L+C)/4;
HaOpen = AMA( Ref( HaClose,  -1 ),  0.5 );
HaHigh = Max( H,  Max( HaClose,  HaOpen ) );
HaLow = Min( L,  Min( HaClose,  HaOpen ) );

Chart for Nifty NMA Daily charts shown above


Source: www.marketcalls.in

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