Heiken Ashi Oscillator Indicator For MT4

The Heiken Ashi Oscillator Indicator For MT4 is an oscillator based on the Hiken Ashi candlesticks. The word Heiken Ashi was derived from the Japanese words "Hiken Ashi" which translates as Average Bar and this clearly defines the way the Heiken Ashi candles (HA for short) work to smooth out price action on the price charts.

When used for trend detection, the Heiken Ashi Oscillator Indicator For MT4 helps the trader by measuring the current and average change in price over a given time period. This allows the trader to see a smoothened version of the price charts and accelerates consistency on the part of the trader depending on their trading style.

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Parameters of the Heiken Ashi Oscillator Indicator For MT4

The only parameter that the  Heiken Ashi Oscillator Indicator For MT4 has is the average price. The average price denoted the number of candlestick bars the indicator should utilize in computing an average for the visual histogram. This average price based smoothening then causes the signals of the Heiken Ashi Oscillator Indicator For MT4 to be smoothed over a given time period even if the price was very erratic.

Advantages and disadvantages of Using the Heiken Ashi Oscillator Indicator For MT4

The first advantage to be derived by the trader using this chart is that the Heiken Ashi Oscillator Indicator For MT4 is very simple in the way it translates price movement information to a trader. The Heiken Ashi Oscillator Indicator For MT4 simply prints a new green bar after it crosses the zero line for an uptrend and prints a red bar after it crosses the zero line downwards if it is a bearish trend.

Another top of the list benefits of the Heiken Ashi Oscillator Indicator For MT4 offers the trader a complete lack of visual discomfort when analyzing the trading charts as the trader can then only see smoothed price information. This smoothed information about the current price of a currency pair or trading asset can make the real trend in price easier to see and this can assist the trader when making trading decisions.

Using the Heiken Ashi Oscillator Indicator For MT4 to trade helps to smooth out noise from the normal price charts as the prices it shows have already be calculated based on the average price of the trading asset or currency pair over a given time period.

The way the Heiken Ashi Oscillator Indicator For MT4 works is that it creates visual entry signals for trading both longs and shorts and for different types of traders depending on which style they choose to use. While some longer-term traders might decide to take trades based on the crosses of the Heiken Ashi Oscillator Indicator For MT4 and its zero line, other shorter-term traders might decide to take a quick scalp whenever the moving average line crosses the zero line to meet the histogram and exit quicker than the other types of traders.

For traders looking to tweak an already existing system, the Heiken Ashi Oscillator Indicator For MT4 can also be combined with most trading systems and meta trader 4 indicators depending on what indicator effect the trader may be looking at achieving. An example would be when a trader needs an indicator to help him stay on the right side of the market or just to be able to stay long enough in a trending market. What the trader seeks to achieve would immediately determine if the Heiken Ashi Oscillator Indicator For MT4 can work well with his already existing system or not.

The Heiken Ashi Oscillator Indicator For MT4 can also be used as a standalone signal provider for those who are strictly Heiken Ashi traders and who understand the nature of the HA candlestick and how it draws its candles and histograms. This can prove to be both a very aggressive system as well as a profitable system when used properly as a standalone system.

When trading with the Heiken Ashi Oscillator Indicator For MT4, crosses of the moving average of the Oscillator above the zero line can be taken as buy signals whereas crosses of the moving average of the oscillator below the zero line of the oscillator can be taken as sell signals. This would be one way it can be traded.

A key point to take note of when using the Heiken Ashi Oscillator Indicator For MT4 is that it is an aggressive indicator and as such will lead to a lot of incorrect signals while it is trying to get traders into the correct side of a trend. Hence, traders need to be very careful when using the Heiken Ashi Oscillator Indicator For MT4 and might even need to confirm some the signals it produces especially those signals that are against the present trend.

One of the major advantages of using the Heiken Ashi Oscillator Indicator For MT4 is that traders who use it do not often leave their trades early as a result of fear or impatience as it is very easy to see when a trend is still in place and when a trend has presently changed direction.

In terms of simplicity, the Heiken Ashi Oscillator Indicator For MT4 is so simple that a simple change in color across both the histogram and candlestick at the same time can immediately indicate to the trader that there has been a change in trend and that the trader would likely benefit from the new trend if they likely either close their positions if they are currently against the new trend or open new positions in the direction of the new trend.

Another added benefit of using the Heiken Ashi Oscillator Indicator For MT4 is that it can successfully be used to forecast future prices of a currency pair or trading asset as it calculates based on averages instead of the individual candlesticks that price prints. That way it is easy for it to detect changes that are even completely hidden from the trader's naked eyes.

Some Trade Ideas

The Heiken Ashi Oscillator Indicator For MT4 can be used with a moving average indicator to spot general trend direction across multiple trading charts, get the trader into healthy trend retracements and reversals, and to calculate and analyze the strength level of a trend and then, find very good entries.

A trader can also create a very profitable system by combining the Heiken Ashi Oscillator Indicator For MT4 with breakouts from ranges on the correct side of the trend to create a very profitable trading system for the trader.

 

 

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