The Heiken Ashi Histogram indicator for Metatrader 5 transforms the classic Heiken Ashi candlesticks into a handy buy/sell trend histogram.
The indicator appears in a separate chart window as colored bullish & bearish bars that represent the actual Heiken Ashi candlesticks.
How to interpret the Heiken Ashi histogram?
- A blue bar is a bullish candlestick.
- A brown bar is a bearish candlestick.
The following indicator inputs and parameters can be modified: colors, and style.
It’s recommended to combine the Heiken Ashi histogram with a trend-following indicator (moving averages, ADMI, etc.).
The indicator works for any trading instrument that can be loaded in the Metatrader 5 platform.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
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Heiken ashi histogram.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Heiken Ashi Histogram Forex indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Heiken Ashi Histogram Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is given when the blue histogram bar gets displayed in the chart and the overall trend is upward.
- Open a buy transaction and place your stop loss 5 pips below the previous swing low price.
- Close the buy trade for a fixed take profit or wait for a sell signal.
Sell Signal
- A sell signal is given when the brown histogram bar gets displayed in the chart and the overall trend is downward.
- Open a sell transaction and place your stop loss 5 pips above the previous swing high price.
- Close the sell trade for a fixed take profit or wait for a buy signal.
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Heiken ashi histogram.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Heiken ashi histogram.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration