Heiken-ashi candlesticks



Heiken-ashi candlesticks Indicator Forex

Downloads:


HeikenAshi.mq4
Heiken_Ashi_Smoothed.mq4
Heiken_Ashi_Smoothed_Alert.mq4
Heiken_Ashi_Smoothed_Alert_Bar1.mq4

Heiken-ashi candlesticks versus Japanese candlesticks


Heiken-ashi candlesticks are also called sometimes Heikin-ashi candlesticks.
Heiken-ashi candlesticks provide interpretation of market trends in a neat and descriptive way.

Unlike regular Japanese candles, Heiken-ashi don't show open, high, low and close. Instead they calculate values of each candlestick based on the dominant forces in the market. E.g. if bears (sellers) are clearly dominating, Heiken-ashi candlesticks will be bearish (red), even if a price bar closes higher than it opened.

These Heiken-ashi candles are a perfect tool for traders who like following trends to their very extend. Heikin-ashi Candles also looks much more simplified.

The rules of reading Heiken-ashi candlesticks



Sellers are dominating, strong downtrend

Heiken-ashi bearish candle

Buyers are dominating, strong uptrend

Heiken-ashi bullish candle

The trend got a bit weaker, watch out

Heiken-ashi weakening trend

With a change of a color of a Heikin-ashi candle - trend has changed

Heiken-ashi charts vs Japanese candlestick charts



A regular Japanese candlestick chart:

Regular Forex chart



A chart with Heiken-ashi candlesticks:

Heiken-ashi Forex chart

The trends on Heiken-ashi charts have more distinguished and smoother look.

But this doesn't limits the use of Heiken-ashi candles in Forex.
Heiken-ashi candlesticks are good at suggesting trading and also trailing stops.

A trailing stop is placed at the bottom of a bullish Heiken-ashi candlestick in an uptrend and at the top of a bearish candlestick in a downtrend. A top is adjusted with each new fully formed candlestick.

Heiken-ashi candles are truly amazing candles to trade with!

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Comments

You are doing a great job. This work will benefit a lot of New traders like me. I cant thank you enough.

what is the difference between the 2 files above?
HeikwnAshi.mq4 and Heiken_Ashi_Smoothed.mq4? Kindly please explain.

Thanks
musshan

 

The first indicator is a standard HeikenAshi.
The second - its smoothed version. Smoothed heiken-ashi candles are slower to react to trend changes when those occur sharply, but overall smoothed heiken-ashi will keep you in a trend longer. Standard heiken-ashi candlesticks will be changing colors from red to blue and back every time there is a reasonable correction in price.

You can use both indicators simultaneously. Or one on higher time frame - smoother heikin version - for monitoring trends; and one on lower time frame - standard heikin version - to time good entries on pullbacks.

 

Thank you for these fantastic candles.

 

Thanks for all your hard work on this site. I'm sure it's helping many of us out there.

 

Thank-you for your help. May the trading gods smile on you.

 

Thank you, guys!
It's my pleasure to give back the knowledge I have.

 

thank you

 

Nice one mate, keep up the good work...

 

These candlesticks HAVE to be a better way to prevent getting whipsawed out of a potential profit! Easy to understand, and very clear entry/exit patterns. Brilliant, thank you.

 

it is fantastic

 

Thanks great job. i am new. How pls can i get these indicator in my mt4 platform so i can use them.

 

Save it to the folder called /experts/indicators and re-start the platform.
Please see our newly created page: How to install MT4 custom indicators

When you place indicator on the chart, you may need to make a few adjustments:

1. Hide your regular candlestick: right click anywhere on your chart, go to Properties.., and change colors of the bars to blend with the color of charts background.

2. Switch to the tab "Common", where make sure that "Chart on the foreground" is not selected.

Heiken-ashi bearish candle

 

I tried three times to sign up for your list but never received a confirmation email. I tried using two different email addresses.

 

We don't provide such services, sorry.

 

Iam new to forex, but this candle pattern introduced by u gives me a well experienced experience

 

HeikenAshi Хороший инструмент! Но мало кто его использует, и зря!

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HeikenAshi is a good tool! But a few use it, too bad for them!

 

Hi great info!! One question though, I downloaded the Heiken ashi alert but can't seem to get the alert part to work is there a alert sound or sound file that I should upload or is it going to use the mt4 preset sounds? Thnks

 

The indicator failed to deliver any sounds... we need to look for another version.

 

this sounds interesting...

 

Newbie question, unable to launch heiken ashi chart alone, plse help.
Hello All,

Great thank you for info provided, very useful for me.

But I am newbie, after down loaded this MT4, I pulled a few charts, but it is bar/line/candlestick chart, when drag over the heiken ashi, see overlay on candlesticks, how to take away the candlestick, please advice!
Thank you!

DC

 

That's simple.
Right click on your charts and go to Properties menu.
There change the Color of the Bull and Bear candlestick to match the background, e.g. if you MT4 background is black, change the candlestick color to black to.
Now you can pull up the Heiken-Ashi indicator and enjoy the clear graphs.

 

Thank for the Indicator, Could you kindly explain one thing in detail how too read the Heiken Ashi Smooth Alert. Could help for filteration ?

Regards,
Farhan.

 

keep it up. that is a great job

 

Thank for great service !!!
Please explain about Heiken_Ashi_Smoothed_Alert.mq4. Where to download .mq4 file? How it works? Thank you

 

The interpretation of Heiken_Ashi_Smoothed_Alert is as follows:
- when the bar is blue - uptrend.
- when the bar has got red on top - downtrend.

The indicator looks to be more sensitive than Heiken_Ashi_Smoothed version, so what it could be useful for:
a) re-entries during strong trends.
b) faster exits,
but in general, we can't say that it adds any meaningful filters to already existing Heiken-ashi indicators.

The sound feature doesn't work, unfortunately.

Update: here is a new modified indicator with Alert: Heiken_Ashi_Smoothed_Alert_Bar1.mq4

Indicator: downloading instructions