The Heiken Ashi Bollinger Bands Smoothed Forex indicator for Metatrader 4 combines Bollinger Bands and Heiken Ashi candlesticks.
The indicator can be used for both buy/sell trade entry signals and take profit targets.
The blue and red colored Heiken Ashi candlesticks provide the actual buy and sell trade entry/exit signals.
Key Features
- Good for any time frame
- Works for scalping, day trading, and swing trading
- Does not repaint on the chart
- Well worth adding to your indicator collection
Free Download
Download the “heiken-ashi-bollinger-bands-smoothed-indicator.ex4” MT4 indicator
Trading Chart
The GBP/JPY 5-minute chart below shows the Heiken Ashi Bollinger Bands Smoothed indicator in action.
Simple Buy/Sell Trading Signals
BUY:
- Open a buy trade when the Heiken candlesticks turn back to blue color and the candlestick is positioned above the middle Bollinger band.
- Place a stop loss below support.
- Exit the buy trade for a predetermined profit target or wait for an opposite red colored Heiken Ashi candlestick to appear on the chart.
SELL:
- Open a sell trade when the Heiken candlesticks turn back to red color and the candlestick is positioned below the middle Bollinger band.
- Place a stop loss above resistance.
- Exit the sell trade for a predetermined profit target or wait for an opposite blue colored Heiken Ashi candlestick to appear on the chart.
Download Now
Download the “heiken-ashi-bollinger-bands-smoothed-indicator.ex4” MT4 indicator
Heiken Ashi Bollinger Bands Strategy with Trend Magic Filter
The Heiken Ashi Bollinger Bands Smoothed Indicator MT4 combines price smoothing with volatility-based bands, making it a powerful tool for identifying clean trends and pullback entries.
This strategy uses the Trend Magic indicator to confirm the overall trend direction and filter false signals.
Chart Setup
- Primary Indicator: Heiken Ashi Bollinger Bands Smoothed Indicator
- Trend Filter: Trend Magic Indicator
- Timeframe: 30-minute (M30) or 1-hour (H1)
- Currency Pairs: EUR/USD, GBP/USD, USD/JPY, and other major pairs
Buy Trade Conditions
- The Trend Magic line is blue, indicating a bullish trend.
- Heiken Ashi candles turn green and start closing above the middle Bollinger Band.
- Enter a buy trade after a confirmed bullish candle closes above the band, in line with the Trend Magic trend direction.
Sell Trade Conditions
- The Trend Magic line is red, signaling a bearish trend.
- Heiken Ashi candles turn red and begin closing below the middle Bollinger Band.
- Enter a sell trade after a confirmed bearish candle closes below the band, aligned with the Trend Magic signal.
Stop Loss and Take Profit
- Stop Loss: Place just below the recent swing low for buy trades or above the recent swing high for sell trades.
- Take Profit: Aim for a 1:2 or better risk-to-reward ratio, or exit near the opposite Bollinger Band if volatility allows.
Additional Tips
- Avoid trading during sideways or low-volatility sessions.
- Check higher timeframes for overall market alignment.
- Use a trailing stop
Indicator Adjustable Parameters & Settings
MA 1 method, period, MA 2 method, Bollinger bands period, shift, Bollinger bands MA type, colors, style
Technical Information
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: Bollinger bands + Heiken Ashi
How to install the Heiken Ashi Bollinger Bands Smoothed indicator in Metatrader 4?
- Copy and paste the heiken-ashi-bollinger-bands-smoothed-indicator.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
Final Word
The Heiken Ashi Bollinger Bands Smoothed Indicator for MT4 is a powerful tool for traders seeking reliable entry signals.
By smoothing out market noise and highlighting breakout potential, this indicator is especially useful for both new and experienced traders aiming to trade with confidence.
Whether used as a standalone tool or combined with a trend filter like the Trend Magic indicator, it can enhance your strategy and help improve trade timing.
Add it to your MT4 toolbox and start identifying high-probability trade setups with greater precision.
