Introduction to the Heiken Ashi Smoothed Indicator
The Heiken Ashi Smoothed indicator is a very popular trading tool. It helps to see clear trend momentum without much noise.
The logic behind the smoothed version of Heiken Ashi candles is simple: instead of using “raw” prices” for calculations, it’s using smoothed/filtered/averaged prices instead.
That usually filters out some false signals and makes it easier to use.
This version can use some of the 4 basic types of averages for smoothing:
- Simple moving average (SMA).
- Exponential moving average (EMA).
- Smoothed moving average (SMMA).
- Linear weighted moving average (LWMA).
Additionally, you can use a “step” filter (in pips) to filter out value changes that are smaller than the desired threshold (if the step is set to <=0, then that filter is not used). The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Heiken Ashi Smoothed indicator in MT5?
Copy and paste the Heiken Ashi Smoothed.mq5 or Heiken Ashi Smoothed.ex5 indicator files into the MQL5 folder of the Metatrader 5 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL5 > Indicators (paste here).
Now go to the left side of your MT5 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Heiken Ashi Smoothed 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, it will provide false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
If you are looking for the Heiken Ashi Smoothed indicator for MT4, by any chance – you can simply move here.
Heiken Ashi Smoothed Indicator Free Download
To download the Heiken Ashi Smoothed Indicator for Metatrader 5 (MT5) for free just click the button below: