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Heiken Ashi indicator usage

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1 Heiken Ashi indicator usage on Fri Oct 12, 2012 11:38 pm

We have received several requests to explain how to use Heiken Ashi indicator. As it is popular indicator and it's usage is quite unusual, we have decided to explain it in forum, that many users can benefit.

We have taken one of it's modifications (Heiken_Ashi_Smoothed) and analyzed it.

Heiken Ashi candlestick has 4 values, like regular candlestick. You can see them in Metatrader Data Window (ctrl+d). As you move cursor on the chart you see how numbers change with different candle.



You can find full picture here: http://www.eacreator.com/images/heiken_ashi_smoothed_1.PNG

As you can see in picture we have distinguished which value in data window corresponds to which part of the candle. You can do the same thing with any indicator. Just place cursor at some place on the chart and check numbers in data window. You should be able to understand which number means what.

Modes in Metatrader Data Window and on web site (indicator output line/value) are always in the same order (mode names can be different for some indicators), so you should know which one to choose.

Let's see several examples.

1) Trigger signal on first lime color candle:
Value 2 > Value 1 (signal type: instant)

2) Trigger signal on first red candle:
Value 2 < Value 1 (signal type: instant)

If you need this signal for confirmation of other signals, e.g. just check if it is lime or red candle (not necessarily first one), you can create similar signals, just choose signal type "continuous".

By knowing which value means what, you can create various signals, e.g. when price or indicator crosses some Heiken Ashi candle level and so on.

There are several widely spread versions of Heiken Ashi which are coded in a bad way and do not upload successfully. You can either send us files and we will fix them, or you can use files attached to this post.

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