Heikin Ashi Doji & Squeeze For ThinkOrSwim

[Speeds]

mod note:
In trading, a doji candlestick pattern in regular candles indicates market indecision between buyers and sellers, often forming at critical support or resistance levels.

Heiken Ashi candles focus on trends.
Therefore, this indicator's pseudo-HA-doji signals a potential pause in the trend.
Calculated when the candle’s movement is less than 0.1%.
Thus suggesting a possible shift or slowdown in momentum.

Due to the calculation's sensitivity, this indicator is best suited for higher timeframes across most instruments.

https://tos.mx/EaVcQ32 -Chart w/indicators

# Heiken Ashi Doji
# Heiken Ashi candles < .1% change
def haclose = (open + high + low + close) / 4;
def haopen = CompoundValue(1, (haopen[1] + haclose[1]) / 2, (open[1] + close[1]) / 2);
def hachg = 100 * (haopen / haclose -1);

input roc = .1;
plot hadoji = hachg >= -roc and hachg <= roc;

 

[quijanoj44]

it works good on the Daily chart, but when adding it into a 5 min chart, this indicator shows on all chandles

Is there any way to make this code compatible for the 5-minute chart? @samer800 @MerryDay @rad14733 @chewie76

 

[MerryDay]

is there any way to make this code compatible for the 5-minute chart?

The basis for this indicator is the percent change basis.
Change the default of .1
To something appropriate to the 5-min chart

How to determine what input will work on the 5-min chart?

The following is how to find the best settings for this indicator and for all your indicators
https://usethinkscript.com/threads/how-to-finetune-default-settings-in-thinkorswim.19243/

@quijanoj44

The original post has been changed.
It now allows for the percent change basis to be modified in settings

 

[quijanoj44]

The basis for this indicator is the percent change basis.
Change the default of .1
To something appropriate to the 5-min chart

How to determine what input will work on the 5-min chart?

The following is how to find the best settings for this indicator and for all your indicators
https://usethinkscript.com/threads/how-to-finetune-default-settings-in-thinkorswim.19243/

@quijanoj44

roc = 0.01 works good on a 5-min chart, thank you