The Binary Heiken Ashi Smoothed indicator for Metatrader 5 transforms the popular Heiken Ashi candles into a binary Forex trading indicator.
The indicator appears in the bottom chart as a violet colored line.
The binary trade logic goes as follows:
- The 1.1000 binary value generates a buy signal.
- The -1.1000 binary value value generates a sell signal.
For best performance, use the Binary Heiken Ashi Smoothed indicator in agreement with the overall currency trend.
The following indicator inputs and parameters can be modified: smoothing period, smoothing method, step size, and use better formula (true or false).
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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Heiken Ashi Smoothed – binary.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Binary Heiken Ashi Smoothed indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Binary Heiken Ashi Smoothed Indicator?
Find a simple trading example below:
Buy Signal
- A buy trade occurs when the indicator turns back to the 1.1000 value.
- Open a buy trade and place your stop loss below immediate support.
- Close the buy trade for 10-30 pips profit, or hold it until a sell signal appears in the chart.
Sell Signal
- A sell trade occurs when the indicator turns back to the -1.1000 value.
- Open a sell trade and place your stop loss above immediate resistance.
- Close the sell trade for 10-30 pips profit, or hold it until a buy signal appears in the chart.
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Heiken Ashi Smoothed – binary.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Heiken Ashi Smoothed – binary.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration
