The Heiken Ashi Zone Trade indicator for Metatrader 5 is a powerful trend identifier tool that draws Heiken candle bars on the price chart.
Essentially, the indicator helps to identify trends faster and more accurately.
How to interpret this technical analysis tool:
- A blue colored Heiken Ashi candle indicates a bullish trend.
- A brown colored Heiken Ashi candle indicates a bearish trend.
- A gray colored Heiken Ashi candle indicates a neutral trend.
For best performance, use this indicator in agreement with the longer-term Forex trend.
The Heiken Ashi Zone Trade technical indicator can be applied to currency pairs, indices, metals, stocks, etc. in Metatrader 5.
The following indicator inputs and parameters can be modified: style, and color.
Please make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
Free Download
Heiken Ashi zone trade.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Heiken Ashi Zone Trade indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Heiken Ashi Zone Trade Indicator?
Find a simple trading example below:
Buy Signal
- The first blue colored Heiken Ashi candle is a bullish signal.
- Open a buy trade and place your initial stop loss below the most recent support area.
- Close the buy trade for a reward/risk ratio of at least 1.0, or keep the trade open until the first brown colored candle gets printed on the chart.
Sell Signal
- The first brown colored Heiken Ashi candle is a bearish signal.
- Open a sell trade and place your initial stop loss above the most recent resistance area.
- Close the sell trade for a reward/risk ratio of at least 1.0, or keep the trade open until the first blue colored candle gets printed on the chart.
