Heiken Ashi Indicator for MetaTrader 4 Download - Free

The Heiken Ashi Oscillator (HAO) combines Heiken Ashi charting techniques and moving averages to identify market trends and potential reversal points.

The Heiken Ashi Scalping Indicator operates based on Heiken Ashi candlestick calculations. This MetaTrader 4 oscillator utilizes proprietary formulas to filter out unnecessary fluctuations and eliminate price noise.

Heiken Ashi Oscillator Specifications

The table below summarizes the key features of the Heiken Ashi Oscillator.

Indicator Overview

The Heiken Ashi Oscillator averages price data to detect Heiken Ashi candlesticks, displaying them as a histogram in a separate window below the main chart.

Color changes in the histogram bars indicate trend direction shifts:

• Red to Blue: Buy Signa
• lBlue to Red: Sell Signal

Indicator in an Uptrend

On the EUR/CAD currency pair chart, a buy signal is generated when the moving average of the Heiken Ashi Oscillator crosses above the zero line and the histogram bars turn blue.

Once the histogram bars turn red, traders may exit the trade and secure profits.

Indicator in a Downtrend

In a downtrend for the CAD/JPY currency pair, the Heiken Ashi Oscillator signals a price decline when the histogram bars turn red.

Additionally, when the moving average stays below zero, it confirms the downtrend. If the trend phase changes, traders can exit their positions accordingly.

Heiken Ashi Oscillator Settings

The following image shows the complete settings panel of the Heiken Ashi Oscillator:

• Period: Calculation period for the moving average.

Conclusion

The Heiken Ashi Oscillator (HAO) is a powerful analytical tool that provides clear signals for identifying major trends and market reversal points.

This MetaTrader 4 trading assist enhances trading accuracy and reduces market noise, helping traders make better-informed decisions.