DT Heiken Ashi Candle is a free mt4 (Metatrader 4) indicator that provides trend trading signals with the help of custom-built Heiken Ashi candlesticks.
The indicator appears in the main MT4 window and draws the Heiken candlesticks in real-time on the chart.
Trade Idea
- Open a buy trade as soon as the indicator starts printing the green colored Heiken Ashi candlesticks.
- Open a sell trade as soon as the indicator starts printing the red colored Heiken Ashi candlesticks.
The DT Heiken Ashi Candle indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “DT_HeikinAshi Candle.ex4” indicator for MT4
Indicator Example Chart (EUR/USD H1)
The example chart below displays the DT Heiken Ashi Candle mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the DT Heiken Ashi Candle Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Candlestick
Does the indicator repaint? No.
DT Heiken Ashi + ZWinner Trend MT4 Strategy
Introduction
This MT4 strategy fuses the smoothing power of the DT Heiken Ashi Candle with the trend-direction strength of the ZWinner Trend indicator.
Heiken Ashi candles filter noise and highlight trend continuity. ZWinner Trend gives directional confirmation and helps avoid countertrend entries.
Use this system on 15-minute, 30-minute, or 1-hour charts for intraday setups, and on 4H for swing trades.
It is best for traders who favor trend-following entries with smooth visual cues and disciplined risk control.
Buy Entry Rules
- ZWinner Trend must indicate a green bullish direction.
- DT Heiken Ashi candles must turn bullish (e.g., a sequence of green Heiken Ashi bodies or a clear shift from red to green), confirming momentum.
- Enter long at the close of the candle that first shows a confirmed bullish Heiken Ashi while ZWinner remains bullish.
- Stop Loss: place under the low of the last bearish Heiken Ashi candle or recent swing low, whichever is lower risk.
- Take Profit: aim for 1.5× to 2× your risk, or trail your stop using subsequent Heiken Ashi lows or the ZWinner trend line as a dynamic stop.
Sell Entry Rules
- ZWinner Trend must indicate a red bearish direction.
- DT Heiken Ashi candles must turn bearish (a shift to red bodies), confirming momentum downwards.
- Enter short at the close of the candle that first shows a confirmed bearish Heiken Ashi while ZWinner remains bearish.
- Stop Loss: place above the high of the last bullish Heiken Ashi candle or recent swing high.
- Take Profit: set for 1.5× to 2× your risk or trail with Heiken Ashi highs / ZWinner trend line until a reversal is signaled.
Advantages
- Heiken Ashi smooths out price noise and gives clearer trend visuals.
- ZWinner Trend adds confirmation and helps filter false signals.
- The combination tends to avoid whipsaws in choppy markets more than standalone signals.
- Good adaptability across multiple timeframes (intraday to swing).
Drawbacks
- Heiken Ashi is lagging by nature, so entries may be delayed in sharp reversals.
- ZWinner Trend may sometimes misread weak or oscillating price action as trends.
- Requires tuning (Heiken Ashi periods, ZWinner parameters) per instrument and timeframe.
Example Case Studies
Case Study 1 — EURUSD 15m (Intraday Trend Capture)
On a 15m EURUSD chart, ZWinner switched to bullish. Heiken Ashi candles turned green after a pullback.
Entry was made at the close of the first confirmed green Heiken Ashi.
A stop was placed 20 pips below the last red Heiken Ashi low.
Price moved in the trend direction and hit the first target of ~30 pips (1.5×) within a few hours.
The remainder was trailed until a Heiken Ashi red reversal, closing total ~45 pips.
Case Study 2 — GBPUSD 30m (Short swing move)
On GBPUSD 30m, ZWinner indicated a bearish trend after a series of weakening candles.
Heiken Ashi candles turned red after a small retracement. The trade entered at the close of that red Heiken Ashi.
The stop was placed 35 pips above the prior swing high.
Price dropped, hitting the 1.5× target (~52 pips) in one session, then continued into the 2× zone before a reversal candle forced an exit.
Strategy Tips
- Always check a higher timeframe trend (e.g., H4 or daily) before entering on lower timeframes to avoid countertrend entries.
- Use proper position sizing so that any single loss stays within 1–2% of equity.
- Don’t enter just because a Heiken Ashi color changes — wait for confirmation of ZWinner trend to avoid false flips.
- Consider using an ATR-based filter or volatility measure to avoid trades when volatility is too low or too high.
By combining the DT Heiken Ashi Candle with the ZWinner Trend, you get a clean MT4 system that blends smooth visual trends with trend confirmation.
Adjust parameters and follow risk discipline to improve performance across pairs.
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Download the “DT_HeikinAshi Candle.ex4” indicator for Metatrader 4
