Heiken Ashi Indicator The first candle
Heiken Ashi comes from 'Heikin Ashi' - a Japanese phrase meaning average price bar. Heikin Ashi indicator shows the price bars on the chart
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The formula for calculating Heiken Ashi candles is as follows:
- Heiken Ashi opening price = (opening price of the previous candle + closing price of the previous candle) / 2
- Closing price Heiken Ashi = (opening price + high + low + closing price) / 4
- Heiken Ashi peak = maximum value of the high, opening or closing price
- Heiken Ashi bottom price = the lowest value of the bottom, opening or closing price
How To Read Heiken Ashi Chart?
According to research and research, there are 4 main signals that help determine the trend and trading ability of Heiken Ashi:
- The blue candles show an uptrend ==> you can buy more or exit sell orders.
- A candle with a small body and upper and lower shadows indicates the possibility of a trend change. If you want to enter early, predict the market trend, then go in these candles. Otherwise, wait for more signals before making a decision. In general, this is the confused point of the trend, which can be reversed or continued.
- The red candles indicate a downtrend ==> should sell or exit a buy order.
- The red candles with no upper shadow showed a strong downtrend ==> keep selling until the trend ends.
Instructions for use of Heiken Ashi MT4 candles
Trading with Heiken Ashi candles on MT4 is very simple
Heiken Ashi MT4 candlestick is represented by:
- Blue with an uptrend
- Red with a downtrend
Trading with Heiken Ashi Candle indicator
- BUY | After the first candle closed, the color is blue
- SELL | After the first candle closed, the color is red