Chikou Span Not Correct with Daily Heikin Ashi

[aerich]

Hello, I have just noticed an important inconsistency in the New HTML5 Platform charts (Browser AND Mobile), when using Heikin Ashi candles and the Ichimoku Indicator. Here is what happens:

1. Create an Ichimoku Indicator using the usual defaults (9,26,52)

2. Change the price "Type" using the "..." selector, to "Heikin Ashi" candles.

3. If not already, change the Timeframe to "Daily"

4. Now, as the chart is updated, you will usually see the current Daily Bar "jump" up or down into view, and the Price Line is now the Heikin Ashi price, NOT the normal price, such as Bid or Mid.

5. Look at the last point of the "Chikou Span" line in the Ichimoku indicator, and you will see that it still points to YESTERDAY's Daily Bar, and does not reflect the very latest Heikin Ashi price for today. This can be misleading. because if you are using the Chikou Span to track closing price movement, you WON'T see the Chikou price move for today, at all.

6. However, you can temporarily fix this by switching the price "Types" option to CANDLE, then back to Heikin Ashi, and Chikou Span will extend itself to today's candle.

7. BUT, the moment that you switch timeframes out of Daily, and return to Daily, the Daily Bar "jumps" up (or down) to the current Heikin Aski Close, but the Chikou Span once more is left pointing to YESTERDAY's Heikin Ashi Close, giving you a completely erroneous view of the latest price pattern.

8.  To conclude, it seems that when we switch to a Daily Timeframe, and today's candle "jumps" into view, then if Heikin Ashi is enabled, the Chikou Span in Ichimoku does NOT extend to today's candle, but still points to yesterday - an incomplete line. As is well known, the Chikou Span line reflects the closing price action, but shifted left on the chart by Kijun-Sen bars, for trading signal purposes.

9. This EXACT SAME problem happens on the Mobile Phone (Android for me) version of the new HTML5 platform.

Footnote and observation: It is NOT usually the case that the Ichimoku indicator even uses the Heikin Ashi close at all ! It is usually the other way around. i.e, If Heikin Ashi is to be used, both it AND Ichimoku use the current REAL price (Bid, Mid, or Ask) as their source. Using Heikin Ashi as the source for Ichimoku can lead to an erroneous indicator plot, and hence erroneous trading signals, thus rendering Ichimoku useless. There is a number of excellent sites that explain the correct source and drawing of Ichimoku and Heikin Ashi.

I hope that this might help to clarify, and correct the problem - when it is possible to do so, thanks.

 

[cmo]

Was this ever fixed?