heikin ashi lines
Info
The heikin ashi lines is a Indicator for MetaTrader 4 that probably everyone has put up a heikin ashi chart one time or another. it makes it look so much cleaner with less noise and clearer trends.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use heikin ashi lines
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
probably everyone has put up a heikin ashi chart one time or another.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: aura heiken ashi: advanced trend and momentum indicator - another powerful indicator for MetaTrader 4 traders.
probably everyone has put up a heikin ashi chart one time or another. it makes it look so much cleaner with less noise and clearer trends.
Also recommended: Heiken Ashi with Doji Spotter - similar indicator with strong performance on MetaTrader 4.
but there is one major flaw — it hides the true bar/candle values, especially the true closing prices.the heikin ashi close price is simply an applied price called the “total price”, and the heikin ashi open is simply a moving average of its close prices.
so, why not just display it as two lines instead?
this is what this indicator does. that way, you can still see the true bar/candle values. the dotted line is the open and the solid is the close.
please note that by default it will use gray/gey as the line colour, which is dull. so use the colour that best suits you, for example yellow on a black background or blue on a white background.
the code uses conditional compilation and will compile on both mql4 and mql5. please note that all my codebase publications’ source code are now also available in “public projects” tab of metaeditor under the name “fmic”.
You may also like: Consecutive Heiken Ashi Candles Indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#define MName "Heikin Ashi Lines"
#define MVersion "1.0"
#define MBuild "2023-11-10 13:37 WET"
#define MCopyright "Copyright \x00A9 2023, Fernando M. I. Carreiro, All rights reserved"
#define MProfile "https://www.mql5.com/en/users/FMIC"
#property strict
#property version MVersion
#property description MName
#property description "MetaTrader Indicator (Build "MBuild")"
#property copyright MCopyright.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.