Heikin-Ashi uses more price data to construct its candlesticks. Heikin-Ashi Smoothed candlesticks are designed to filter out more noise (reducing false signals), in an effort to keep you trading with the overall trend.
General assumptions
Bullish signal: Blue Heikin-Ashi smoothed candlestick
Bearish signal: Red Heikin-Ashi smoothed candlestick
Download Link
Download the iheikenashism.mq5 indicator.
Example: EUR/USD H4 Chart
CharacteristicsÂ
Type: advanced candlestick indicator
Currency pairs: any
Timeframe: any
Platform: Metatrader 5
Customizable settings: type (candles, bars), MAPeriod, MAMethod, SmMethod, colors,…