Download Heikin Ashi and Smoothed Heikin Ashi Indicator and Template for MetaTrader
I see that forex traders and also stock traders look for Heikin Ashi and smoothed heikin ashi more and more everyday. Maybe because they eliminate a lot of noise and show a clearer and sharper direction. I have already written an article about Heikin Ashi and the way that you can use it in your trades here: What Is Heikin-Ashi and How to Trade with It?
In this article I want to help you to have the Heikin Ashi or the Smoothed Heikin Ashi on your platform easily. MetaTrader already has Heikin Ashi that can be easily added to the price chart but it has some problems:
The problem is that it covers the candlestick and so you can not see any of the candlesticks and Heikin Ashi properly:
You can see the Heikin Ashi properly by changing the colors and making the candlestick chart invisible. Here I am helping you to have clear and proper the Heikin Ashi chart in a few easy steps and without having to change the colors. I have already done it for you.
Place the below files in the indicators folder (e.g. C:\Program Files\Interbank FX Trader 4\experts\indicators\):
Note: To save the files on your computer hard disk, just right click on the below links and click on “Save target as …” and then “Save”. Do not change the files name.
1) http://www.weboma.com/downloads/Heiken Ashi.mq4
2) http://www.weboma.com/downloads/Heiken Ashi.ex4
Then put the below file in the templates folder (e.g. C:\Program Files\Interbank FX Trader 4\templates\):
http://www.weboma.com/downloads/heikin ashi.tpl
Now close your MetaTrader and restart it. Then right click on the price chart and choose the Heikin Ashi from the templates.
You will have the below chart then. You can add any other indicator to it and also use it with any time frame.
The above chart is the ordinary Heikin Ashi but we also have another kind of Heikin Ashi which is called Smoothed Heikin Ashi. It is slower than the ordinary Heikin Ashi and eliminates a lot of noise. For me it is too slow and so I don’t use it. It works like a 10 or 20 moving average. You can try it and see if it works for you.
To have the Smoothed Heikin Ashi chart make sure that the below files are place in the indicators folder (e.g. C:\Program Files\Interbank FX Trader 4\experts\indicators\ folder):
http://www.weboma.com/downloads/Heiken Ashi Smoothed.mq4
http://www.weboma.com/downloads/Heiken Ashi Smoothed.ex4
Also place the below file in the templates folder (e.g. C:\Program Files\Interbank FX Trader 4\templates\ ) and then restart your MetaTrader:
http://www.weboma.com/downloads/smoothed heikin ashi.tpl
Now open a new chart, right click on it and choose the Smoothed Heikin Ashi from the templates list. You should have the below chart then. The green line is the price line. You can make it invisible by changing its color to black but I think you’d better to keep it to know the difference of the real price movements and what the Smoothed Heikin Ashi shows you.
Enjoy!
Further Reading:
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trading and technical analysis
hello, what is the best settings for Moving averages and bollinger bands
Hi Daniel,
It depends on the way that you like to trade. Using two moving averages, one fast and one slow, like MA10 and MA20 can help you to see the trends or reversals. Personally I don’t use moving averages in my trades.
The best setting for Bollinger Bands is 20.
Great to have you back - we’ve missed you. Will you be starting the analysis again soon?
Best regards
Paul
Hi Paul,
Thanks a lot. I miss you too. Unfortunately I am not able to have the daily analysis by now. I really love to do that but I don’t have time. I hope I can do it as soon as possible.
Best regards,
Vahid
Vahid,
Thanks for your effort to train many traders free of charge! We miss your postings. Am still wondering if the statement you made that trading forex is not difficult is TRUE!
I had been hard trying to be successful in forex , but it hasn’t work for me. Please, give short advice.
Thanks.
Hi Williams,
You are welcome. I will be happy to be any of help.
I still say forex is not difficult. It just needs patience, practice and experience. First you need to learn the techniques and choose a good and easy to implement system. Complicated systems are nothing but problems. Then you have to keep on practicing with your system using a demo account. You have to have the patience to wait for the signals and trade setup. You should avoid speculation. You should think that you are trading with the real account. If you can double your demo account for three times consecutively, you can then start trading with live account. But you’d better to start with a very small amount of money and then when you felt full confidence (and not over-confidence) you can increase the amount of your trades.
If you follow these stages you will see that forex is easy and it just needs patience and practice.
Do not try to compete with anybody in forex. Do not try to make 1000, 2000, …. pips every month if you are new. It is impossible. Do not push yourself to make a trade. You should not create a trade. The market should give you a trade and you just need to enter.
Best regards,
Vahid
This is some of the very best advice I have ever seen given re trading the Forex. It matches my experience exactly, and I could not emphasize it enough to a beginning trader.
Vahid has the goods re this, guys! Listen to him!
Suprised you do not use MA’S ! What about Alligator on your website ?
Hi George,
Yes I don’t use moving averages. I just explained about them on my website for those who like to use them.
For me moving averages are so slow and far from the truth. For me the price is the best indicator. I like to see the real and true picture not a modified picture reflected by an unclear mirror. Price movement is my main indicator. I use technical analysis to find the trends, patterns, supports and resistances. I use candlesticks and Bollinger Bands too. The only other thing that I use is RSI but in many cases I don’t even look at RSI.
Best regards,
Vahid
good day sir
this will be my first post,i stumble across this ur site about amonth ago,through google,when i was looking for away to trade with moving average,the explaination u gave was just great i wonder why u dont use it.i have actaully attended series of forex seminar,only to achieve nothing at the end.i cant believe there is somebody who cando this free of charge.well i practise the MA.cos i have an account with marketiva.but they dont have meta4trader,so i open one with fxopen place everthing there once the signal comes i trade with marketiva.it was working with my demo acc.so i found my account with $100.within two hours of trading i made about 140 pips,i almost double the acc.but the same way ilost the whole money back in a day(next day)since then ihave been trading the demo,but i am doing fine there. cos i realise my mistakes,and i have really work on it.thank you very much and God bless u
Hi Victor,
Welcome and thanks for your comments.
Any trader is different. For some traders moving averages are great but for me it doesn’t work. They are slow for me. I like to get the early signals through candlesticks.
Keep up the good work and practicing.
Best regards,
Vahid
Thanks for your free gift.
Please we need to know the condition to enter a trade Heiken Ashi.
Ragards
markpips
Hi,
Please read the below article:
http://www.weboma.com/what-is-heikin-ashi-and-how-to-trade-with-it/
Glad to get those files Vahid. It was just what I needed to give me the impulse to make my own heiken ashi template. Actually I don’t like the black, gridless chart so I changed it to a pale colour. If anyone else has the same liking, you have to change not only the background, but you make the bar up, bar down, bull candle, bear candle the same colour as your background. You will probably need to change the foreground to a dark colour too. You change the chart colours by clicking right-clicking the chart on a blank area and clicking “Properties”. When you have the colours you like everywhere, save the template under your own choice of name. Grids can be switched on and off after right-clicking the chart, too, or press CTRL+G.
Thanks Malcolm.
Yes you can have your favorite color on your charts.
Thank You for the indi…..
any body trade with EA?? try this mine, free just for you
Good job. God bless you. I will try to explore this method in my trading. Can you tell me what time in EST ot GMT is best to trade GBP/JPY pairs?
Thank you.
Hi Bayo,
It depends on yourself and the time zone you are living. If you live in Europe, you can use take the advantage of London session and if you live in America you can trade during the New York session. Both of them are good.
Best regards,
Vahid