Heikin-Ashi (which is correct?)

[Townsend]

The Heikin Ashi Formula consists of four calculations, which remap Open, Close, High, and Low:
Open = [Open (previous bar) + Close (previous bar)]/2.
Close = (Open+High+Low+Close)/4.
High = Max Price Reached.
Low = Max Low Price Reached.

The chart of the left is the system generated Heikin-Ashi colors.
The chart on the right is the code based Heikin-Ashi colors, derived from the standard formula, as described above.
Notice the difference, highlighted in gray.

This code will paint the Heikin-Ashi colors on any bar type, including Equivolume.

def haOpen = (open[1] + close[1])/2;
def haClose = (open + close + high + low)/4;

assignpriceColor(if haOpen < haClose then color.green else
if haOpen > haClose then color.red else color.white);

Which one is correct? Which one is better? Either my code is off, or TOS is using non-traditional inputs?

 

[spartan.ts]

It sounds as if you would like to contrast and compare different scripts?
But that is not possible as you didn't provide any scripts to contrast and compare to.

The standard method for comparing indicators, is to put them on your chart.
Be aware that you will need to extensively play with the settings in order to compare apples-to-apples.

If you are still interested in having a discussion, comparing various scripts.
1. Please post chart images where all the studies are applied.
2. Mark up any confluences that you have questions about.
3. Make sure that you include a shared chart link, so members can see what you are seeing.
How to create a shared chart link:
https://usethinkscript.com/threads/how-to-share-a-chart-in-thinkorswim.14221/


The Heiken Ashi hh hl definitions are used to PLOT the HA candles. As this script does not PLOT the candles, those definitions are not used.

my bad, i had thought there would be an understanding when mentioning Heiken Ashi Candles.
In this post, https://usethinkscript.com/threads/smoothed-heikin-ashi-with-atr-trail-for-thinkorswim.9992/
The script shows a smoothing factor using valcu or vervoort, i was just wondering if there was a difference form the formula on this post vs the one from here or if it was just for smoothing. i may have answered my questions, but any additional thoughts would be helpful. thanks.