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)
in other words, the indicator shows the “synthetic” candlesticks, which are different from the standard.
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.
MetaCOT 2 CFTC ToolBox (Set of Indicators) MT4 -… Contents GENERAL PROVISIONS Brief description Installing the libraries and indicators Several indicators in one window Exporting CFTC reports to CSV…
Fractals and Alligator - EA MetaTrader 4 Â "Fractals & Alligator" EA trades with a strategy based on Fractals & Alligator indicators and has Trailing Stop Loss &Take…
Heikin Ashi Trader - EA MetaTrader 4  "Heikin Ashi Trader" EA trades with a strategy based on Heikin Ashi indicator (not visible) and has Trailing Stop Loss &Take…
Risk Reward Ratio - EA MetaTrader 4 The "Risk Reward Ratio" EA trades with RSI,MA & STOCHASTIC indicators It uses a Risk Reward Ratio ,has Trailing Stop…
15 Minute Scalper - EA MetaTrader 4 15 Minute Scalper EAÂ trades with Stochastic & Parabolic indicators has Trailing Stop Loss &Take Profit,works best on 15 minute…
1H Bolinger Bands - EA MetaTrader 4 1H Bolinger Bands EA trades according to the "Bolinger Bands" indicator and two MA's,has Trailing Stop Loss &Take Profit works…
Accelerator - EA MetaTrader 4 "Accelerator " EA trades with "Accelerator" indicator and has Trailing Stop Loss &Take Profit works on all time frames major…
