Heikin Ashi Forex Candlestick MT4 Indicator
The Heikin Ashi Forex Candlestick indicator for Metatrader 4 transforms the default candlesticks into the popular Heikin Ashi candlesticks.
Many traders book good results when trading the currency market with the help of Heikin Ashi candlesticks.
Just load the Heikin Ashi Forex candlestick indicator onto the Metatrader 4 chart and start trading with it in minutes.
- A green colored Heikin Ashi candlestick is considered bullish. The close price is higher than the open price.
- A red colored Heikin Ashi candlestick is considered bearish. The close price is lower than the open price.
- Easy to trade with Heikin Ashi candlesticks.
- Utilize for any trade style (scalping, day trading and swing trading).
Feel free to explore the Heikin Ashi Forex candlestick indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (GBP/USD H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Heikin Ashi Forex candlestick MT4 Indicator
Buy Signal: Open a buy trade when the Heikin Ashi candlestick is colored green. Confirm the buy trade with additional technical indicators or with price action.
Set your stop loss below support, or use your own favorite stop loss method.
Close the buy trade for a reward/risk ratio of 1.5 or near resistance, or use your own favorite take profit method.
Sell Signal: Open a sell trade when the Heikin Ashi candlestick is colored red. Confirm the sell trade with additional technical indicators or with price action.
Set your stop loss above resistance, or use your own favorite stop loss method.
Close the sell trade for a reward/risk ratio of 1.5 or near support, or use your own favorite take profit method.
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Colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: candlestick
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.