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HeikenLRmaMT4

Heiken Ashi is a special type of candles which are slightly different from traditional Japanese candlesticks. Literally this word group is translated from Japanese as "a line in the middle" or "a plank in the middle". For the first time this type of candles was mentioned in one popular American magazine devoted to financial market titled "Technical Analysis of Stocks Commodities" in 2004. From then onward a lot of modifications of this indicator have appeared. They are designed to help in determining prevailing trend direction at a time.

HeikenLRmaMT4 is also a modification of the Heiken Ashi indicator. Its main aim (which is also the aim of the original indicator) is to determine the current trend. One would think why have we developed another modification? There are plenty of them, so we can lose count. But there is one thing which makes this modification a special one. You can often see a price rising above or falling below a moving average. And every time you ask yourself whether this is a change of trend. "Buy if the price is above the moving average. Sell if it is below the MA" — this is one of conditions of many strategies. But the reality is that buying is not always feasible when the price is above the MA. The same situation is with selling.

So the HeikenLRmaMT4 indicator helps to avoid such nuances especially during trend movements. But it does not mean that it is absolutely free from such disadvantage.


Settings

  • hk_period — period of the indicator calculation.


Colors

  • Blue — upward trend;
  • Orange — downward trend.
Maksym Mudrakov
8449
2016.08.30 19:45 
 

User didn't leave any comment to the rating

Rabbitpips
297
2015.06.11 20:51 
 

Works OK

Version 1.1 - 2015.05.06
Added sound notification when changing histogram color. Settings are optional.

alert - ON/OFF enable/disable sound notification
alert_file - name of the .wav sound file