Best Heiken Ashi VQZZ Scanner Dashboard
- Indicators
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Abir Pathak
I create MT4 and MT5 indicators. They are mainly arrows and scanner indicators and also some essential utilities.
I'm hoping they will make your trading easier and make you profitable.
You can join my Telegram channel to keep track of all products I post. - Version: 1.9
- Updated: 19 July 2023
- Activations: 20
Scanner Dashboard for Best Heiken Ashi VQZZ Arrows Indicator here:
https://www.mql5.com/en/market/product/45900
Check out this post for detailed description on How To Use
All Indicator extras and template:
https://www.mql5.com/en/blogs/post/758259
Please note that if you are using too many pairs/timeframes, then VQZZ calculations might slow down the dashboard.
So be careful not to use too many VQZZ Higher timeframes if you are using too many pairs.
Also, VQZZ is based on higher timeframes. e.g, H1 Timeframe will be based on H4.
So, while higher H4 is still forming, the last 4 candles on H1 will also be forming. And VQZZ might change colors.
If you want it to be fully Non-repainting, then use NRTR instead for trend detection.
Dashboard Symbols:
When Dashboard button turns green, it means (example M15):
1. Heiken Ashi has changed from red to green.
2. VQZZ current timeframe M15 is green
3. VQZZ for M30 or H1 is green. (Not necessarily both.)
Then you get a BUY Signal. But if price has already gone too far, wait a few bars as a retracement might occur.
Trade BUY when price starts moving back upwards.
Be careful trading during news events as price might not retrace but keep going up.
How the checks work:
- Find Heiken Change
- If "Trend Align Check VQZZ" true:
Check if VQZZ Timeframes aligned with Heiken.
"Num of TFs For VQZZ Aligned" If it's 3, it will check current timeframe and 2 higher timeframes.
--If "Timeframes Aligned with Heiken" is All then it will check all timeframes
--If it's Any: then it will check at least one of the higher timeframes is aligned with current timeframe
It will wait for "Wait Bars VQZZ After Heiken Switch" number of Bars for VQZZ to align. If still not aligned, that Heiken change signal is ignored.
- If "Trend Align Check Heiken" true:
Check if Heiken Ashi for Higher timeframes is aligned with current timeframe.
If "Num of TFs For Heiken Check" is 3, it will check current timeframe Heiken and 2 higher timeframes Heiken color.
Settings:
- Specify your Own Pairs using a comma-separated list. Or you can select a pairs list from our drop-down for forex pairs like "Forex Core 7", "Forex Core 14", only AUD pairs, only JPY pairs, etc.
- Specify your own preferred time frames in a comma-separated list.
- Settings for showing alerts: Popup, email, sound alerts, etc.
- x_axis, y_axis: to position Scanner Dashboard
- fontSize: to resize the whole panel and it's fonts. For best experience use fontSize between 5 and 8.
- ColumnsNum: Number of Dashboard Columns
- OnButtonClick Open New Window: On clicking any dash buttons open that Pair-TimeFrame in a new window with your specified template (next setting)
- Use Template for New Window: Template name without ".tpl". Eg: Create a file Template1.tpl in templates folder and here specify: "Template1".
(only works if previous property set to true). Does not work if on button click is set to open in current window because otherwise you might lose your current window indicators or existing dashboard settings.
- shift: Bar for which all conditions are checked. Default 1.
Wait Bars VQZZ After Heiken Switch: After Heiken Ashi has changed, number of bars to wait for VQZZ to align.
e.g.: If Heiken has turned green, wait for current TF VQZZ to turn green and at least one of the 2 Higher Timeframe VQZZ to turn green.
Indicator Settings used:
Vqzz (TF 15, 6, 2,2,5 true)
Pivot Daily levels or Fibonacci levels for take profit and Support and resistance.
Wait Bars VQZZ After Heiken Switch: After Heiken Ashi has changed, number of bars to wait for VQZZ to align.
e.g.: If Heiken has turned green, wait for current TF VQZZ to turn green and at least one of the 2 Higher Timeframe VQZZ to turn green.
About Arrows Indicator:
Vice-versa for Sell.
If price has already gone too far at BUY/SELL Arrow, then wait a few bars for a retracement back to Heiken Ashi price.
Then trade BUY/SELL once price starts moving back in direction of the arrow.
Or use BUY/SELL Limit to place trade at nearest Pivot Levels.
Dashboard is very good and can be customised to each needs. Author is very helpful and very responsive. Thank you.