The T3 Heiken Ashi forex indicator for Metatrader 4 is based on the highly popular Heiken Ashi indicator and T3.
This special version of Heiken Ashi provides traders with easy to read buy and sell trade opportunities.
The MT4 indicator draws buy and sell arrows directly on the activity chart.
Green arrows indicate the currency pair is in an up trend. This is a buy signal.
Magenta arrows indicate the currency pair is in an down trend. This is a sell signal.
Stop-loss placement is easy with the T3 Heiken Ashi technical indicator:
- For buy trades, place the stop-loss 1 pip below the vertically aligned blue bars
- For sell trades, place the stop-loss 1 pip above the vertically aligned red bars
The T3 Heiken Ashi indicator is very popular among scalpers and day traders.
The EUR/USD H4 chart below displays the T3 Heiken Ashi forex indicator in action.
Basic Trading Signals
Signals from the T3 Heiken Ashi forex indicator are easy to interpret and goes as follows:
Buy Signal: Go long when the T3 Heiken Ashi forex indicator draws a blue arrow on the chart.
Sell Signal: Go short when the T3 Heiken Ashi forex indicator draws a magenta arrow on the chart.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (MaPeriod, MaMethod, Step, UseT3, Alerts) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the heiken-ashi-ma-t3.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)