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Wednesday, May 16, 2012

Biosensors - Heikin Ashi Perspective

This is a short term view of Biosensors using Heikin Ashi.

Heikin Ashi is a Japanese charting method aimed at filtering the noise on price chart to better reveal the trend. Based on this charting technique, Biosensors may be heading for a bullish reversal.

1. Heikin Ashi candles turned from bearish ( black ) to bullish ( white )
2. haDelta is above SMA 3 as well as above the zero line
3. Bullish divergence on Heikin Ashi candles and haDelta

One to two more days of closing higher than previous close is required as confirmation.

My heartfelt appreciation to Mr Dan Valcu, CFTe  ( Author of  “Heikin-Ashi: How to Trade Without Japanese Candlestick Patterns” ) provided me with the Amibroker formula. Anyone interested to learn Heikin Ashi can purchase the book from Educofin.