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 accurate.
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, color.
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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The following chart shows how 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:
- 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.
- 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.
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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 zone trade.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