Introduction to the New Heiken Ashi Indicator
The New Heiken Ashi Indicator displays an alternative way for price charting. Simply speaking, the New Heiken Ashi indicator provides an additional window with Heiken Ashi candlesticks, while keeping original Japanese candlesticks above it. That way you can compare both types of charts.
The New Heiken Ashi Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. 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.
How to set up the New Heiken Ashi indicator in MetaTrader (MT4)?
Download the New Heiken Ashi.rar archive at the bottom of this post, unpack it, then copy and paste the New Heiken Ashi.ex4 or New Heiken Ashi.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 New Heiken Ashi indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, 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. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 New Heiken Ashi Indicator
To download the New Heiken Ashi indicator for Metatrader 4 (MT4) for free just click the button below: