Explore the latest free tools from the MQL5 community. Here's a new indicator, expert advisor, or script for MetaTrader.
Close = (Open+High+Low+Close)/4
Open = [Open (previous bar) + Close (previous bar)]/2
High = Max (High,Open,Close)
Low = Min (Low,Open, Close)
in other words, the indicator shows the "synthetic" candlesticks, which are different from the standard.
Smooth out market noise with the Heiken Ashi Expert Advisor for MT4 and MT5. Reliable trend-following automation. Details here.
Image:
Heiken Ashi Indicator
The color of the Heiken-Ashi candlesticks depends on shadows.
The advantage of the Heiken-Ashi charts is a simple trend determination, the upward trend candles are blue,the downward trend candles are red.
For profitable trading it is necessary to use it with the standard candlesticks (and analysis) and with the other indicators.
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