moving average based on heiken-ashi
Info
The moving average based on heiken-ashi is a Indicator for MetaTrader 5 that features: works on all symbols. the indicator is multi time-frame.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use moving average based on heiken-ashi
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
features: works on all symbols.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Moving Average Dashboard MT5 - Professional EMA SMA Trend Analysis - another powerful indicator for MetaTrader 5 traders.
Also recommended: Quantora ADR Calculator MT5 - Professional Average Daily Range Indicator for MetaTrader 5 - similar indicator with strong performance on MetaTrader 5.
features:works on
all symbols
.
the indicator is
multi time-frame
.
uses
colors
for up and down trend to better visualize true market trend.
inputs:
time-frame - change the time-frame for indicator calculations.
period - change ma period.
shift - change ma shift.
method - change ma method.
price - change price type.
here is an example of 3 ma's for 5 minutes, 10 minutes and 15 minutes time-frames on a 5 minutes chart.
the indicator only draws the ma line and not the heiken-ashi candles, here is an example with heiken-ashi candles.
the indicator only calculates the heiken-ashi candles but the code inside calculateheikenashi can be modified to calculate new ohlc data.
here is an example of heiken-ashi smoothed calculation.
heiken-ashi smoothed is a more reliable trend following tool, better for swing trading and filter entries.
or we can replace the code with heiken-ashi smoothed using atr.
the heiken-ashi smoothed atr provides a smooth baseline for setting dynamic stop-loss/take-profit levels.
You may also like: Relative Moving Average (RMA) Indicator for MT5 - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 7
#property indicator_plots 1
#property indicator_type1 DRAW_COLOR_LINE
#property indicator_color1 clrDodgerBlue, clrRed
input ENUM_TIMEFRAMES InpTimeframe = PERIOD_CURRENT; // Timeframe for Heiken Ashi calculation.......
⚠ 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.