Introduction to the Heiken Ashi Exit Indicator
The Heiken Ashi Exit indicator falls into the trend-following category of forex indicators.
It is basically a combination of a Moving Average and a Heiken Ashi Bars.
It fits all kinds of timeframes and currency pairs.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
Simplified trading rules for Heiken Ashi Exit are the following:
- Open buy trade when the HAE turns green and the overall market trend is clearly bullish. Close the trade when HAE turns red.
- Open buy trade when the HAE turns redand the overall market trend is clearly bearish. Close the trade when HAE turns green.
How to set up the Heiken Ashi Exit indicator in MT4?
Copy and paste the heiken-ashi-exit.ex4 or heiken-ashi-exit.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Heiken Ashi Exit indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Heiken Ashi Exit Indicator Free Download
To download the Heiken Ashi Exit Indicator for Metatrader 4 (MT4) for free just click the button below: