Heikin Ashi chart is a first choice of many traders when it comes to analysing trends. Heikin Ashi calculation slightly differs from the candle stick one, and makes Heikin Ashi chart smoother. Comparing to Candle Stick, Heikin Ashi is not affected as much by slight changes in price and offers cleaner chart which helps with noticing current market bias and any changes to it.  The bars tend to be green on an uptrend and red on a downtrend, without many variations, which makes trends recognition easier. Our MW Heikin Ashi free indicator is an improved version of the standard Heikin Ashi from MT4, taking into the account the needs of traders. MW Heikin Ashi is a good starting point, but if you are interested in more advanced tool check the MW Heikin Ashi Pro.

Two-in-One

MW Heikin Ashi come with two verities of Heikin Ashi, standard and smoothed. Standard Heikin Ashi can be used on its own for a cleaner chart and easier price action analysis. Heikin Ashi smoothed is an overlay indicator which plots Heikin Ashi as a moving average.

If you want to learn more about Heikin Ashi and how to use it to analyse the chart, check out our blog.

https://fxpipsbank.com/product/mw-heikin-ashi-pro/

Signals and Notifications

Unlike the Candle Stick chart, changes in the direction of Heikin Ashi happen less often and are more significant. They can suggest changes in the current market bias, and imply that the trend momentum is running out. For these reasons, the indicator displays signal arrows whenever these changes occur, as well as sends notifications so that you never miss any developments.

Multi-time Frame Function

MW Heikin Ashi is a multi-time frame indicator, which means that you can display the indicator of higher timeframe at your current chart. It provides a unique opportunity to analyse short and long term trends at the same time without switching between different charts. Below, you can see Heikin Ashi Smoothed of 1 hour time frame displayed on 15 minutes chart.

MW Heikin Ashi Parameters

Time Frame

This is where you can use the multi-time frame function and choose a time frame for the indicator.

Heikin Ashi Type

Here, you can choose the type of Hekin Ashi standard or smoothed.

MA Period and Method

These parameters affect only Heikin Ashi smoothed. You can set the period and the method of moving average to your liking.

Display Signal Arrow

You can choose to switch the arrow signals on or off. However, you will not receive the notifications if this setting is set to false.

Notifications

Here, you can choose which notifications you want to receive when the indicator changes direction.