What is New Heiken Ashi Indicator?
New Heiken Ashi Indicator for MT4 displays candles calculated from averaged price values to provide a smoother chart view. Separate colors distinguish upward and downward candles, while the original price chart remains available for comparison.
The green-candle color, red-candle color, and candle width settings control the visual presentation. The simplified candle display can be reviewed alongside price levels and other chart references.
How to Use It in Practice
New Heiken Ashi Indicator draws the Heiken Ashi candles in a subwindow, leaving the main chart’s ordinary candle wicks visible.
- Read the coloured Heiken Ashi bodies in the lower window while retaining the main-chart candle shapes and wicks above.
- Adjust the subwindow candle thickness when the bodies are too dense or too narrow for the chart scale.
- Other subwindow indicators can share the layout, so keep their plots visually distinct from the Heiken Ashi candles.
A smoother candle view is available on the chart, upward and downward states are easy to distinguish, and color and width settings keep the display adaptable.
MT4 Indicator Parameters
The screenshot above shows the default input parameters in the MT4 settings window.
| Parameter | Description |
|---|---|
| color for “green” candle | Sets the color for bullish (upward) Heiken Ashi candles. Used to visually differentiate upward trends. |
| color for “red” candle | Sets the color for bearish (downward) Heiken Ashi candles. Helps highlight downward price action. |
| width for candles | Adjusts the visual thickness of the candles on the chart. Thicker candles can improve visibility for quick recognition. |
