Heikin-Ashi Metatrader 4 Indicator

Heikin-Ashi candlestick charts look very similar to regular candlestick charts but differs because of the used formula to calculate and draw the candlesticks.

Heikin-Ashi Used Formula

Close = (Open+High+Low+Close)/4
Open = [Open (previous bar) + Close (previous bar)]/2
High = Max (High,Open,Close)
Low = Min (Low,Open, Close)

Advantages of using Heikin-Ashi candlesticks

Heikin-Ashi candlestick charts react much slower to high volatility than a regular candlestick chart. They tend to significantly reduce the amount of whipsaws/fake signals because of the built-in delay. This creates a great tool to trade highly volatile currency pairs such as the GBP/JPY.

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Download the Heikin-Ashi Metatrader 4 indicator.

EUR/USD Daily Chart Example

heikin-ashi-indicator-mt4

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