This indicator displays the color of the Heiken Ashi candles and the rate of immediate change on an histogram, with a moving average that represents the average change. If Heiken Ashi bars suddenly change colors and the new bar is above the moving average, it is likely that the change was strong enough to continue for a while.
The moving average can also used to detect range-bound markets and can be a good add-on to your trend following or short-term trading strategy.
This indicator is a slight variation of Heiken Ashi Oscillator and depends on the original Heiken Ashi Indicator (attached).
HOW TO INSTALL METATRADER INDICATORS ON MT4
Installing indicators on MT4 comes down to:
- Downloading the files (.ex4 and .mq4 formats) – Right click the download button and Save link as…
- Placing them in the MT4 “Indicators” Data Folder
- Closing and re-starting your MT4 terminal
- Dragging you indicator from the Navigator to the Forex Chart
Downloading the indicator.
Download and prepare the MT4 indicator file(s) so they are ready to go on your computer. (Please note that some custom indicators will come in a .rar file, so make sure to extract the .ex4 and .mq4 files).
Go back to your Metatrader 4 platform, click the File Tab and select “Open Data Folder” to get access to the system folders for the MT4 program:
Placing them in the MT4 “Indicators” Data Folder.
Go to the “MQL4” folder and the “Indicator” subfolder and open the folder.
Drag or copy and paste the custom indicators files to the “Indicators” subfolder.
Restart the MT4 program. When MT4 loads again, you should see your custom indicator added to the directory in the navigation window.
Go to the navigation window and scroll down the menu to “Indicators”, pick the one you want to use and drag it to your chart.
For a video on how to install you MT4 indicators please visit our Youtube channel.
Preferred MT4 Broker – XM
Low Spreads. Low Commissions. More Value
Explore the markets with MetaTrader 4 – The world’s most widely used trading platform. Simple and intuitive for beginners yet highly customisable and full of advanced features for professionals, MT4 is free for all XM clients and compatible with all major devices and operating systems.
There is a reason why over 3.5 Million Clients Choose XM for Forex Trading, Stock Indices Trading, Commodity Trading, Stocks, Metals and Energies Trading.
High liquidity. Fast execution. Exceptional pricing
Open your account. Trade within minutes. Full Review here
Risk Disclaimer for Forex Trading. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. 4xIndicators.com is a trade signal service. You understand that none of the strategies or indicators that we make availible constitutes a recommendation that any particular trade is suitable. By downloading an indicator or strategy, you are confirming that you have read and agree to all of the terms and conditions posted on our terms and conditions page. We are not responsible for the content of any sites that may be linked to or from the Site or any message board (referred to on the Site as the “forum”) associated with us or the Site. These links are provided for your convenience only and you access them at your own risk. Unless otherwise noted, any other website accessed from the Site is independent from us, and we have no control over the content of that other website. We do not own the indicators available for download. All indicators are freely available on other websites and forums. If you are the owner of an indicator or strategy that we have made available for download, and you are wanting us to cease promoting it, please sent us an email and we will delete the post. If you would like the description modified, please contact us. In addition, a link to any other web site does not imply that we endorse or accept any responsibility for the content or use of such other website.