Doteki Heiken Ashi Indicator

Platform: MT5 Type: Pattern

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Last update: January 7, 2025

The Doteki Heiken Ashi Indicator for MT5 is built on traditional heiken ashi candlesticks but uses a dynamic and customizable value for the averaging period, unlike the regular version which has a fixed value of 3.0. This feature allows for better adaptation to various market conditions (by tuning the sensitivity), as well as reliable multi timeframe analysis.

In more technical details, this means that the regualar candle representation calculates the open value using an exponential moving average of the total price, with the alpha value of the EMA fixed at 0.5 – an equivalent to an EMA period of 3.0. Traditionally, the green color correspond to bullish readings and dark bronze to bearish readings.

Example charts:

doteki heikin ashi indicator example chart 1