How to use MT5/MT4
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Heikin-Ashi is a type of chart originating from Japan, effective in identifying trends and eliminating false signals. This indicator allows you to check the status (bullish/bearish) of Heikin-Ashi on up to five timeframes. By checking the status of Heikin-Ashi on both short-term and long-term timeframes, you can grasp the trend situation at a glance and make quick trading decisions.
When the Heikin-Ashi status aligns on both short-term and long-term timeframes, the market direction is often clear. Conversely, when the Heikin-Ashi status is mixed, the market direction is often uncertain.
[Example of aligned Heikin-Ashi direction (clear market direction)]
[Example of mixed Heikin-Ashi direction (uncertain market direction)]
*This indicator only works on the Windows version of TitanFX's MT5 and MT4.
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1.The indicators and related descriptions are based on various data believed to be reliable, but their accuracy and completeness are not guaranteed.
2.The data displayed by the indicators do not guarantee your investment results. Also, the displayed content may vary due to market conditions and communication environments.
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| Variable Name | Description | Default |
|---|---|---|
| Number of Bars to Display | Specifies the range for displaying the indicator in the number of bars. | 500 |
| 1-5 | Specifies whether to display the Heikin-Ashi status. You can display up to five timeframes. | true |
| Timeframe | Specifies which timeframe's Heikin-Ashi to display. 'Current' displays the chart's timeframe. | Current, 15Minutes, 1Hour, 4Hours, 1Day |
| Text Color | Specifies the color of the text displayed in the indicator. | White |
| Bullish Color | Specifies the color of bullish Heikin-Ashi candles. | Blue |
| Bearish Color | Specifies the color of bearish Heikin-Ashi candles. | Red |
Not used in this indicator.
