Here is a well-structured article with an example of using Heiken Ashi candles and drawing them on a Binance chart:

Ethereum: Drawing Heiken Ashi Candles in Python

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

Prerequisites

• You have a Binance API account and a client ID.

• You have installed the pandas library to use data structures like arrays and matrices.

• You have the necessary permissions to access Binance historical market data.

Example code: Drawing Heiken Ashi Candles

import pandas as pd
from binance.client import client
def heikin_ashi():
"""
Get historical Klines data for Ethereum (SYMBOL)
and plot Heiken Ashi candles.
"""
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 candles on Binance chart
import matplotlib.pyplot as plt

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

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

Example usage:
heikin_ashi()

This code snippet does the following:

• Creates a Binance API client and specifies the desired cryptocurrency (ETH) and interval (1 minute).

• Retrieves historical Klines data using client.get_historical_klines().

• Converts the Klines data to a pandas DataFrame for easier processing.

• Plot the Heiken Ashi candles on the chart using the “matplotlib” command, plotting the closing price and adding the Heiken Ashi lines as green bars.

Tips and Variations

• You can customize the chart by exploring other options in the plot() function, such as changing the color scheme or changing the shape of the candle body.

• Consider using other indicators, such as moving averages or Bollinger Bands, to create a more comprehensive analysis of market trends.

• For production-level applications, ensure that you handle 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 interval and limit settings to suit your needs. Happy charting!