The Heikin Ashi Candle Indicator MT4 is a trend indicator specifically designed to display Heikin Ashi candlesticks on the main chart of MetaTrader 4. While traditional price candles are plotted independently and reflect only the current price action. Heikin Ashi candlesticks are generated using the average open, close, high, and low of the previous candle. This approach produces a smoother sequence of price action changes, making it easier to identify potential reversal zones and market trends.
This indicator is suitable for traders of all skill levels and across all time frames. Its versatility extends to trading multiple currency pairs within any forex trading system or strategy, to identify the general direction of a trend and reversal zones.
Indicator Settings
How to Install Heikin Ashi Candle Indicator MT4
Download and extract files in the MetaTrader “Indicators” Data Folder found in the Main Menu File section:
The “Indicators” folder is located in the “MQL4” folder.
Restart MetaTrader Platform.
