Here is a well-structured article with an example of how to use Heiken Ashi candles and plot them on the Binance chart:

Ethereum: Plotting Heiken Ashi Candles in Python

When working with cryptocurrency markets like Ethereum, it is essential to visualize market data to understand trends and patterns. A popular indicator used for this purpose is Heiken Ashi candles. In this article, we will explore how to plot Heiken Ashi candles on a chart using the Binance API.

Prerequisites

  • You have a Binance API account and client ID.
  • You have installed the pandas library to work with data structures like arrays and matrices.
  • You have the necessary permissions to access historical market data on Binance.

Sample Code: Plotting Heiken Ashi Candlesticks

import pandas as pd
from binance.client import Client
def heikin_ashi():
"""
Get historical Klines data for Ethereum ( SYMBOL )
and plot Heiken Ashi candlesticks.
"""
client = Client()
symbol = "ETH" 








Replace with desired cryptocurrency
interval = "1m" 
1 minute interval

Get historical Klines data
klines_data = client.get_historical_klines(
symbol=symbol, 
interval=interval, 
limit=1000 
Limit to 1000 bars for simplicity
)

Convert Klines data to pandas DataFrame
df = pd.DataFrame(klines_data)

Plot Heiken Ashi candlesticks on Binance chart
import matplotlib.pyplot as plt

Set up the chart
plt.figure(figsize=(16, 8))
plt.plot(df["close"], label="Close Price")
plt.xlabel("Time")
plt.ylabel("Price (USD)")
plt.title("Heiken Ashi candlesticks on Binance chart")

Add Heiken Ashi candlesticks to the chart
plt.plot(df.index[1:], df["high"] - df["low"], color='green', label="Heiken Ashi")
plt.legend()
plt.show()

Usage example:
heikin_ashi()

This code snippet does the following: next:

  • Establish a Binance API client and specify the desired cryptocurrency (ETH) and time interval (1 minute).
  • Retrieve historical Klines data using client.get_historical_klines().
  • Convert the Klines data to a pandas DataFrame for easier manipulation.
  • Plot Heiken Ashi candlesticks on a chart using matplotlib, plotting the close price and adding Heiken Ashi lines as green bars.

Tips and Variations

  • To customize the chart, explore additional options in the plot() function, such as changing the color scheme or modifying the shape of the candlestick body.
  • Consider using other indicators such as Moving Averages or Bollinger Bands to create a more comprehensive analysis of market trends.
  • For production-grade applications, ensure that you are handling sensitive data and API keys securely.

Remember to replace the symbol variable with your desired cryptocurrency symbol (e.g. “BTC”, “LTC”, etc.) and adjust the range and limit settings according to your requirements. Happy charting!

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