Discussing the article: "Building a Professional Trading System with Heikin Ashi (Part 1): Developing a custom indicator"
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Check out the new article: Building a Professional Trading System with Heikin Ashi (Part 1): Developing a custom indicator.
This article is the first installment in a two-part series designed to impart practical skills and best practices for writing custom indicators in MQL5. Using Heikin Ashi as a working example, the article explores the theory behind Heikin Ashi charts, explains how Heikin Ashi candlesticks are calculated, and demonstrates their application in technical analysis. The centerpiece is a step-by-step guide to developing a fully functional Heikin Ashi indicator from scratch, with clear explanations to help readers understand what to code and why. This foundational knowledge sets the stage for Part Two, where we will build an expert advisor that trades based on Heikin Ashi logic.
This article is the first part of a two-part series. In part one, we will explore the theory behind Heikin Ashi candles, explain how they are calculated, and walk through the step-by-step process of coding a Heikin Ashi indicator from scratch using MQL5. The goal is not just to copy-paste source code but to truly understand the why behind each line of the source code so that you can apply these best practices when building your custom indicators.
In Part Two, we will develop an expert advisor that uses the Heikin Ashi indicator as the foundation for its entries and exits. Let us begin by understanding what makes Heikin Ashi charts different from traditional candlestick charts.
After reading this article, you will be well equipped with the knowledge on how to implement custom indicators using modern MQL5 best practices. While the example here focuses on Heikin Ashi, the same techniques can be applied to any indicator that requires custom candlesticks or color-based visualization of trading opportunities.
Author: Chacha Ian Maroa