HEIKEN-ASHI MT4 INDICATOR

HEIKEN-ASHI MT4 INDICATOR

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The Heiken-Ashi indicator looks like the candlestick chart, but it has some difference. Instead of the use of the standard OHLC values for candles, it uses another formulas:

Close = (Open+High+Low+Close)/4
Open = [Open (previous bar) + Close (previous bar)]/2
High = Max (High,Open,Close)
Low = Min (Low,Open, Close)

Heiken-ashi don't show open, high, low and close. Instead they calculate values of each candlestick based on the dominant forces in the market. E.g. if bears (sellers) are clearly dominating, Heiken-ashi candlesticks will be bearish (red), even if a price bar closes higher than it opened.

The advantage of the Heiken-Ashi charts is a simple trend determination, the upward trend candles are blue,the downward trend candles are red.

Sellers are dominating, strong downtrend

strong uptrend

The trend got a bit weaker

Download Heiken Ashi mt4 indicator

http://www.mql5.com/en/code/33