The Heikin Ashi Lines indicator for Metatrader 4 (MT4) is designed to deliver a clearer trend direction with fewer market noise signals.
Composed of two lines, this crossover trading system is suitable for both beginners and advanced traders.
For short-term traders, the indicator is best used on M5 and M15 charts, while M30, H1, H4, and daily charts are ideal for swing traders.
Key Highlights:
- Crossover Trading Indicator: A simple yet effective buy-and-sell crossover system.
- Enhanced Trend Prediction: Updated version for better future trend prediction.
- Versatile Time Frame Application: Suitable for any time frame according to your trading preference.
Free Download
Download the “Heikin Ashi Lines.mq4” MT4 indicator
Indicator Example Chart
The EUR/USD 30-minute chart below demonstrates the Heikin Ashi Lines indicator in action.
Basic Trading Signals
Signals from the Heikin Ashi Lines indicator for Metatrader 4 are easy to interpret and work as follows:
BUY:
- Open a buy trade when the yellow thick line crosses above the gray dotted line from below.
- Add a protective stop loss below the most recent swing low.
- Take profit when both lines cross in the opposite direction (sell trade).
SELL:
- Open a sell trade when the yellow thick line crosses below the gray dotted line from above.
- Add a protective stop loss above the most recent swing high.
- Take profit when both lines cross in the opposite direction (buy trade).
Download Now
Download the “Heikin Ashi Lines.mq4” MT4 indicator
Customizable Settings:
The Heikin Ashi Lines indicator offers adjustable parameters, such as the averaging period (standard 3.0), and more.
Explore these settings to create a personalized setup that matches your trading strategy.
Easy Installation:
- Download the “Heikin Ashi Lines.mq4” MT4 indicator.
- Copy the indicator file into the MQL4 indicators folder (File > Open Data Folder > MQL4 > Indicators).
- Restart Metatrader 4 and add the indicator to your chart.
More Information:
- Currency Pairs: Works on any currency pair.
- Trading Platform: Developed for Metatrader 4 (MT4).
- Time Frames: Compatible with any time frame.
- Indicator Type: Trading signals.
Removal Instructions:
To remove the indicator, right-click on the chart, select ‘Indicators List,’ choose the indicator, and click the delete button.
Summary
The Heikin Ashi Lines indicator for Metatrader 4 is an invaluable tool for traders seeking clearer trend signals and reduced market noise.
Its crossover system provides straightforward buy and sell signals, making it suitable for both novice and experienced traders.
Whether you are a short-term trader or a swing trader, this indicator can enhance your trading strategy by offering reliable trend predictions across various time frames.
Before using it on a live account, it is recommended to test the indicator on a demo account to ensure its effectiveness and to customize its settings according to your trading needs.
Download the Heikin Ashi Lines indicator today and take your trading to the next level with precise and dependable market analysis.