KT Heiken Ashi Alert Indicator
MT4/MT5  

What exactly is Heiken Ashi?

In Japanese, the term Heiken Ashi means average bar. It is used to make the candlestick charts more readable and accessible to spot a trend. 

Traders can use the Heiken Ashi chart for entry and exit strategies. A change of the Heiken Ashi color can often represent a change in the market direction.

Points to remember

• Using the Heiken Ashi Alerts as a standalone indicator is not a good idea. Instead, combine it with other indicators to get a more accurate analysis.
• A trend change often starts with a small candle with both upper and lower wicks.
• Red candles with no upper wicks mean a strong downtrend.
• Blue candles with no lower wicks mean a strong uptrend.
  
  

The Formula of Heiken Ashi Indicator MT5 | MT4 

Heiken Ashi candles are similar to ordinary Japanese candlesticks but have a different calculation mode.

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