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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.


    Download the Heikin-Ashi.mq4 indicator.

    EUR/USD Daily Chart Example


    How to install the Heikin Ashi custom indicator in Metatrader 4?

    • Download the Heikin-Ashi.mq4 indicator to your computer.
    • Open your Metatrader 4 platform.
    • Open the data folder from the top menu.
    • Open the MQL4 folder.
    • Open the indicators folder.
    • Paste the indicator file in this folder.
    • Restart the trading platform.
    • Open any trading chart.
    • Attach the indicator to the chart.