Heiken Ashi Color Change Alert - Low Volitility

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Description for Heiken Ashi Color Change Alert with Dynamic Thresholds
This script is designed to alert traders to color changes in Heiken Ashi candles with a dynamic threshold that adapts based on market volatility. It provides clear visual markers (triangle shapes) on the chart whenever the color of the Heiken Ashi candles changes from bullish to bearish or bearish to bullish, with adjustable settings that allow for greater customization across different market conditions.

Key Features:
Heiken Ashi Color Change Detection: The script detects when Heiken Ashi candles shift from bullish to bearish (green to red) or bearish to bullish (red to green). These changes in color can help traders identify potential trend reversals or market shifts.

Dynamic Threshold: The threshold for detecting a color change is dynamically adjusted based on the current market volatility, measured by the ATR (Average True Range). This helps filter out noise and reduces the chance of false signals.

Low Volatility Mode: Ideal for small-timeframe charts (like 1-minute or 5-minute). The threshold for detecting color changes is set to 1% of the candle's range.

Medium Volatility Mode: Suited for 1-hour to 4-hour charts, where a more balanced approach with a 5% threshold is applied.

High Volatility Mode: Best used for daily or weekly charts, with an 8% threshold to capture larger, more significant price movements.

Customizable Alerts: The script provides built-in alerts for both green-to-red and red-to-green color changes, allowing traders to stay on top of potential market reversals or trend shifts.

Volume Filtering: Volume conditions are applied to help validate the signals, making the alerts more reliable when there is sufficient market interest behind the price action.

Cleaner Visuals: The script uses small triangle shapes for the color change markers, ensuring that the chart remains clean and easy to interpret. You can adjust the size of the triangles to suit your preference.

How to Use:
1. Select Your Timeframe: Choose the timeframe that suits your trading strategy (from low to high timeframes).
2. Adjust the Threshold: For highly volatile markets, use a higher threshold (e.g., 8% for daily/weekly charts). For low volatility (fast-moving markets like 1m/5m), use a lower threshold (e.g., 1%).
3. Set Alerts: Enable alerts for color changes to stay updated when the market experiences a trend reversal.
4. Interpret the Signals: When a red triangle appears, it indicates a bearish reversal, and when a green triangle appears, it signals a bullish reversal.
5. This indicator is useful for traders who rely on Heiken Ashi candles to identify trend changes and would like to automate the detection of these changes with a dynamic and customizable approach to volatility. By adjusting the threshold and volume filter, you can tailor the indicator to your preferred trading style and market conditions.

Disclaimer:
While this script provides helpful visual cues, traders should always use this indicator in conjunction with other tools or analysis methods to make informed trading decisions. This script is not financial advice.