The T3 Heiken Ashi forex indicator for Metatrader 4 is based on the highly popular Heiken Ashi indicator and T3.
This special version of Heiken Ashi provides traders with easy to read buy and sell trade opportunities.
The MT4 indicator draws buy and sell arrows directly on the activity chart.
Green arrows indicate the currency pair is in an up trend. This is a buy signal.
Magenta arrows indicate the currency pair is in an down trend. This is a sell signal.
Stop-loss placement is easy with the T3 Heiken Ashi technical indicator:
- For buy trades, place the stop-loss 1 pip below the vertically aligned blue bars
- For sell trades, place the stop-loss 1 pip above the vertically aligned red bars
The T3 Heiken Ashi indicator is very popular among scalpers and day traders.
Free Download
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Indicator Chart (EUR/USD H4)
The EUR/USD H4 chart below displays the T3 Heiken Ashi forex indicator in action.
Basic Trading Signals
Signals from the T3 Heiken Ashi forex indicator are easy to interpret and goes as follows:
Buy Signal: Go long when the T3 Heiken Ashi forex indicator draws a blue arrow on the chart.
Sell Signal: Go short when the T3 Heiken Ashi forex indicator draws a magenta arrow on the chart.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Strategy: T3 Heiken Ashi + Guppy Multiple Moving Average Signal
This MT4 strategy combines the T3 Heiken Ashi Indicator and the Guppy Multiple Moving Average Signal Indicator to capture trend-aligned trades.
The T3 Heiken Ashi shows green arrows for buy trends and magenta arrows for sell trends, providing clear visual trend direction.
The Guppy Multiple Moving Average Signal Indicator generates a blue signal line for buy trades and an orange signal line for sell trades, helping traders identify trend continuation and pullback opportunities.
This strategy works best on M15, M30, and H1 charts for day trading.
It is suitable for traders who want structured entries aligned with both trend direction and moving average confirmation.
Buy Entry Rules
- The T3 Heiken Ashi displays a green arrow, indicating an uptrend.
- The Guppy indicator shows a blue signal line, confirming bullish momentum.
- Enter the trade immediately after both conditions are met.
- Place a stop loss below the recent swing low or key support level.
- Take profit when the Guppy signal line turns orange or the T3 Heiken Ashi shows a magenta arrow, typically targeting 25-40 pips.
Sell Entry Rules
- The T3 Heiken Ashi displays a magenta arrow, indicating a downtrend.
- The Guppy indicator shows an orange signal line, confirming bearish momentum.
- Enter the trade immediately after both conditions are met.
- Place a stop loss above the recent swing high or key resistance level.
- Take profit when the Guppy signal line turns blue or the T3 Heiken Ashi shows a green arrow, typically targeting 25-40 pips.
Advantages
- Combines clear trend identification with moving average confirmation for high-probability trades.
- Reduces false entries by requiring alignment between two indicators.
- Easy to read trading signals make it beginner-friendly.
- Effective for day trading across multiple timeframes and currency pairs.
- Can be used on both major and minor pairs for intraday trading.
Drawbacks
- Signals may lag during very fast market reversals.
- Overtrading can occur if multiple pairs are monitored without proper focus.
Case Study 1: EURUSD M30
During the London session, EURUSD displayed a green T3 Heiken Ashi arrow and the Guppy signal line turned blue.
A buy trade was entered with a stop below the recent swing low.
Price trended upward steadily, and the trade was closed when the Guppy line turned orange, capturing 32 pips.
Using both indicators together provided a clear, trend-aligned entry for day trading.
Case Study 2: AUDJPY H1
AUDJPY showed a magenta T3 Heiken Ashi arrow and an orange Guppy signal line during the New York session.
A sell trade was executed with a stop above the recent swing high.
Price moved downward over the next few hours, and the trade was closed when the Guppy line turned blue, securing 37 pips.
Alignment of both indicators helped capture a reliable intraday trend move.
Strategy Tips
- Only enter trades when both indicators confirm the same trend to filter out false signals.
- Use swing highs and lows or key support/resistance levels for stop loss placement.
- Take profits when the Guppy line changes color or the T3 Heiken Ashi arrow reverses.
- Avoid trading during major news events to reduce volatility risk.
- Check higher timeframes to ensure the intraday trend aligns with broader market momentum.
- Combine this strategy with proper money management to preserve capital during losing streaks.
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Download the “heiken-ashi-ma-t3.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (MaPeriod, MaMethod, Step, UseT3, Alerts) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Trend
