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Indicators

SHK Heikin Ashi MACD Signal Arrows - indicator for MetaTrader 5

Ramsha Shahrukh
Ramsha Shahrukh

Ramsha Shahrukh

  • Institutional Algo Architect | MQL4 & MQL5 Specialist at  Proprietary Trading Systems
  • Pakistan
  • 149
I am a professional MQL5 / MQL4 Expert Advisor Developer and Algorithmic Trading Systems Architect with 5+ years of experience building, debugging, optimizing, and maintaining automated trading systems.
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SHK Heikin Ashi MACD Signal Arrows is a chart window indicator for MetaTrader 5. It calculates Heikin Ashi candle values and displays them directly on the main chart with configurable candle colors.

The indicator can generate buy and sell arrows when a Heikin Ashi color change is confirmed. By default, signals are calculated on closed bars to reduce repainting risk. An optional MACD histogram divergence filter can also be enabled, so final arrows are shown only when a recent bullish or bearish divergence has been confirmed.


Main features:
- Heikin Ashi candles in the main chart window
- Standard, trend based, and momentum-based candle coloring modes
- Closed bar signal calculation by default
- Optional MACD histogram divergence confirmation
- Buy and sell arrows for confirmed signals
- Optional momentum circles
- Popup, push, email, and sound alerts
- Configurable alert cooldown
- EA readable indicator buffers for use with iCustom()

Main inputs:
- MaxBarsToCalculate controls how many recent bars are calculated.
- ShowHeikinAshiCandles enables or disables the Heikin Ashi candle display.
- UseClosedBarsOnly keeps signal calculation on closed candles.
- ConfirmationCandles controls the number of candles required for confirmation.
- RequireMACDDivergenceConfirmation enables or disables the MACD divergence filter.
- MACDFastEMA, MACDSlowEMA, and MACDSignalEMA control the MACD calculation.
- EnablePopupAlert, EnablePushAlert, EnableEmailAlert, and EnableSoundAlert control alert delivery.

The indicator does not open, close, or manage trades. It is a visual technical analysis tool only. It should be tested on a demo chart before being used in live trading decisions.
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