The Heiken Ashi Extended Candlestick indicator for Metatrader 5 is based on the Heiken Ashi formula and draws buy & sell candlesticks on the chart.
The indicator appears in the main chart screen as blue and red colored candlesticks.
- A blue colored Heiken Ashi candlestick is bullish.
- A red colored Heiken Ashi candlestick is bearish.
For best performance, use this indicator in agreement with the overall currency trend.
The Heiken Ashi technical indicator can be applied to currency pairs, indices, metals, stocks, etc. in Metatrader 5.
The following indicator inputs and parameters can be modified: reference period, style, color.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
Download Indicator 🆓
HEX-Indicator (Heikin-Ashi-Extended).mq5 Indicator (MT5)
Chart Example
The following chart shows how the Heiken Ashi Extended Candlestick indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Heiken Ashi Extended Candlestick Indicator?
Find a simple trading example below:
Buy Signal
- The first blue Heiken Ashi candlestick is a bullish signal.
- Open a buy trade and place your stop loss below the most recent support area.
- Close the buy trade for a reward/risk ratio of at least 1.5, or wait for the first red candlestick.
Sell Signal
- The first red Heiken Ashi candlestick is a bearish signal.
- Open a sell trade and place your stop loss above the most recent resistance area.
- Close the sell trade for a reward/risk ratio of at least 1.5, or wait for the first blue candlestick.
Download Now 🆓
HEX-Indicator (Heikin-Ashi-Extended).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 HEX-Indicator (Heikin-Ashi-Extended).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