OPEN-SOURCE SCRIPT

Heikin Ashi Trend Indicator

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My own implantation of Heikin Ashi which i call HAT.
The Heikin Ashi Trend Indicator (HAT) used to determine the price direction of an asset, as well as draw attention to when the price direction is changing.
The HAT indicator translates the current close/open/high/low into Heikin Ashi and smooths them a bit using Tilson T3 formula.
Buy signal when Heikin Ashi Close is bigger than Heikin Ashi Open with Tilson T3 smoothing.
Sell signal when Heikin Ashi Open is bigger than Heikin Ashi Close with Tilson T3 smoothing.

Set the 'percentSqueeze' percentage to display possible reversal with light Red/Green crosses.

Green - Up Trend
Light Green - Possible reversal is near
Red - Down Trend
Light Red - Possible reversal is near

Follow for more indicators: tradingview.com/u/dman103/

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Added MTF support (optional, default is base time frame)
Added Bar Color support (optional, default is 'false')

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Added Alerts
Added optional signal labels (disabled by default)