The Heikin Ashi Lines indicator for Metatrader 4 is composed of two lines and delivers a better trend direction with fewer market noise signals.
It’s a simple market crossover trading system that fits both beginners and advanced traders.
For short-term traders, deploy the indicator on the M5 and M15 trading charts.
The M30, H1, H4, and daily charts fit swing traders the best.
Key Highlights:
- A buy and sell crossover trading indicator
- Updated version for better future trend prediction
- Should work on any time frame of your preference
Test the indicator first on a demo account before running it on a live trading account.
Free Download
Download the “Heikin Ashi Lines.mq4” MT4 indicator
Indicator Example Chart
The EUR/USD 30-min chart below shows the Heikin Ashi Lines indicator in action.
Basic Trading Signals
Signals from the Heikin Ashi Lines indicator for Metatrader 4 are easy to interpret and work as follows:
BUY:
- Open a buy trade when the yellow thick line crosses above the gray dotted line from below.
- Add a protective stop loss below the most recent swing low.
- Take profit when both lines cross in the opposite direction (sell trade).
SELL:
- Open a sell trade when the yellow thick line crosses below the gray dotted line from above.
- Add a protective stop loss above the most recent swing high.
- Take profit when both lines cross in the opposite direction (buy trade).
Download This Forex Indicator
Download the “Heikin Ashi Lines.mq4” MT4 indicator
Adjustable Parameters & Settings
Averaging period (standard 3.0), and more.
Feel free to explore the indicator’s different parameters and settings to create your personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: works on any time frame
Indicator Type: trading signals
How to install the Heikin Ashi Lines indicator in Metatrader 4?
- Copy and paste the Heikin Ashi Lines.mq4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right-click on the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button