Dōteki Heikin Ashi (Dynamic Average Foot/Bar) Indicator Forex MetaTrader 4.
The standard Heikin Ashi candle representation has an open value that is equivalent to an Exponential Moving Average (EMA) of the Total Price, of which the alpha value of the EMA is fixed at 0.5 (equivalent to an EMA period of 3.0).
In this dynamic version, the period can be changed to whatever value one wishes to use, which also allows one to approximate multi-time-frame analysis, or use the low or high value as a sort of trailing stop-loss. The crossing of the real Close price over the Heikin Ashi open value can also be used as a signal for a change in trend direction.
Also, besides the standard EMA, this version also has the option of using an Almost Zero-Lag EMA instead, which can detect changes in trend direction more quickly, especially when using longer periods of averaging.
When attaching the indicator to the chart, you also have the option of automatically switching the Chart into the Line Graph Mode and optionally hiding the real Close prices from the Line Graph, however, without it, you will not be able to see the cross-over signals between the real Close prices and the Heikin Ashi open values.
Please, also note, that the code can be compiled for both MQL4 or MQL5 by simply changing the file extension (“.mq4” or “.mq5”).
Dōteki Heikin Ashi MT4 Indicator – Download Instructions
In order to transform accumulated history data, you need to install a MetaTrader 4
Dōteki Heikin Ashi MT4 – it is a MetaTrader 4 indicator that allows you to detect several changes and dynamics in price that many traders can’t estimate or see without an indicator, which highlights its essence and usage.
Accordingly, traders can draw conclusions and make estimates about how the prices will change based on the information they have and then they can modify their strategy for better trading.
How To Install Dōteki Heikin Ashi MT4 indicator for MetaTrader 4.mq4?
Download indicator for MetaTrader 4.mq4Dōteki Heikin Ashi MT4 to Directory / experts / indicators /
Start or restart your Metatrader 4 Client
Select Chart and Timeframe where you want to test your mt4 indicator
Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
Right click on Dōteki Heikin Ashi MT4 for MetaTrader 4.mq4
Attach to a chart
Modify settings or press ok
Indicator for MetaTrader 4.mq4 is available on your Chart
How to remove Dōteki Heikin Ashi MT4 Indicator for MetaTrader 4.mq4 from your Metatrader 4 Chart?
Select the Chart where is the Indicator running in your Metatrader 4 ClientRight click into the Chart
“Indicators list”
Select the Indicator and delete
Related Indicator: FractalsAlert Indicator Forex MetaTrader 4
Download Dōteki Heikin Ashi MetaTrader 4 Forex IndicatorDOWNLOAD INDICATOR