OPEN-SOURCE SCRIPT

Heikin Ashi Candles with Dual Wick Detection

### **Heikin Ashi Candles with Dual Wick Detection & EMA Trend Indicator**

You need to select Heiken Ashi candlles in Trading View first.

This script plots **Heikin Ashi candles** with a special feature that detects and colors candles with wicks on both sides in **grey**, indicating potential market indecision. It also includes **two Exponential Moving Averages (EMA 50 & EMA 11)**, which change color dynamically based on trend direction.

### **How It’s Useful:**
✅ **Helps identify trend strength** using Heikin Ashi candles.
✅ **Highlights indecision candles** (with wicks on both sides) in grey.
✅ **EMA 50 & EMA 11 act as trend-following indicators** with dynamic color changes.
✅ **Customizable EMA values** for flexibility.
🔹 **Ideal for traders looking to spot trends and market indecision quickly.**

### **Things to Be Careful About:**
⚠ **Delayed Signals:** Heikin Ashi smooths price action but can lag in real-time movements.
⚠ **Wick-Based Color Coding:** Grey candles indicate dual wicks but do not guarantee reversals.
⚠ **EMA Lag:** EMAs follow trends but **do not predict future moves**.
⚠ **Not Suitable for Scalping:** The smoothing effect may not be ideal for very short-term trades.

🔹 **Always combine this with other indicators or price action analysis before making trading decisions.**

Feragatname