Just for interest for those of you who use TDAmeritrade and TOS. TOS doesn’t have an internal Double smoothed Heikin Ashi such as what Barchart, Tradeview and Sierra Chart has. Seems to be popular on this forum. So, I set about writing the thinkscript for it, as an educational exercise for me. I tried two sequential moving averages but the numbers didn’t correlate at all with Barcharts, so contacted their support staff who were kind enough to finally give me this:
"After conferring with our Data Manager, here’s more information on the 2nd smoothing which is an average of the derived prices. We follow this documentation below:
https://www.sierrachart.com/index.php?page=doc/StudiesReference.php&ID=314"
Basically, it seems to be a moving average of the OHLC price points, from that HeikinAshi candle values are generated and then those values undergo the second moving average smoothing. So here is a shared chart with the script for those who want to try it. This is standard share code, copy into “Open shared item” under “Setup” on the main screen.
http://tos.mx/WKXfZLb
The charts look to match from the charts I’ve looked at. There are some minor actual data point variations but not significant. Having the formula allows generating column alerts and scans. I’ll play with those someday. Use at your own risk and discretion, just wanted to give those with TOS the opportunity.
I still lean more towards regular Heikin Ashi with wicks and candle bodies but this does give a very rapid visual screen for large numbers of charts to then inspect deeper. Let me know if there are issues or concerns.
Happy hunting,
Lakedog
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IB,
I have the TrendtraderPRO software for TOS by John Carter
Mine almost looks like yours, but I added OHLC coloured bars.
I have 15min, 60min, 240min, and Daily red and green bars at the bottom panel.
Peruse the following that might help.
https://tinyurl.com/mvfje86z
The top paragraph will allow you to dig deeper.
Link: http://tos.mx/prQkT2w. With Arrows 
… does not work with a 404 splash. TOS is known for a 4-bar delay with their arrows.
I will follow FCX daily for the arrow positions.
Sofar an arrow is on 3/2 instead of 2/24(low label). 4 bar diff.
John Carter is the author of TrendtraderPro - john carter trendtraderpro - Google Search
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Sorry I messed up to IB it should have been to Lakedog.
Okay, here we go again. Better check with your neurologist Quill, we’ve had this discussion.
Trendtraderpro (TTP) is a simple single moving average of the OHLC with a secondary Valcu or Vervoort smoothing with generation of Heikin Ashi from that. I don’t think John Carter had anything to do with that, he was behind Trade The Markets (TTM) when he got the hots for squeeze play with Bollinger Bands and Keltner channels and created Simpler Trading. Regardless, TTP is the same as multiple different smoothing programs available in UseThinkorSwim as you linked.
The point of my thread was that BarCharts, Sierra Trader and Tradeview use a DOUBLE SMOOTHED Heikin Ashi. The use of that in Barcharts here on these forums has become big. The supplied TOS Shared Link is a smoothing of the OHLC values, generation of Heikin Ashi Values (as in your TTP) and then a secondary smoothing of the actual HA values as per Barchart, etc. There is the creation of the moving average of the HA values to form the final candles.
Of course your values look like what I am showing, they ARE very similar but not exactly the same. If you play with the settings, you can mimic the charts. But having the formula allows TOS users to set up scans, etc based on the Barchart discussions. That is all I am trying to put out there. As I have said before, I am not endorsing, I am simply sharing. I like regular Heikin Ashi and reading the wicks and candle bodies.
I have made a couple changes already. The default averaging methods are TEMA in the original, you change them under the settings for the chart (click on the beaker, bring up edit the studies and hit the gear icon to allow you to change the form of averaging and the periods).
Lakedog
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