The indicator is based on a trading strategy that uses a combination of Heiken Ashi indicators and two exponential moving averages – EMA (9) and EMA (18).
The Heiken Ashi candlestick chart uses averaged price values to filter out market noise by smoothing out large or small price fluctuations.
The absence of market noise on the chart illustrates more clearly the direction of the trend, which helps traders to improve the accuracy of predicting whether a trend will continue or when it will reverse.
The Exponential Moving Average (EMA) is one of the basic technical analysis indicators for identifying and confirming the prevailing trend. Using EMA, as well as Heiken Ashi, allows to reduce the impact of market noise and price fluctuations.
The use of indicators in such a combination allows them to be supplemented with filters of mutual confirmation of signals, which significantly improves the accuracy of forecasting further price movements and helps to determine the optimal entry points for opening positions.
The indicator is implemented as a scanner that searches for trading signals on all symbols and timeframes available in the MetaTrader 4 (MT4) trading terminal. The indicator contains a dashboard on which all information about the current status of detecting signals of a trading strategy is presented. The transition to the detected signal is carried out in one click, after which the chart is automatically updated without the need to open it in a new window.
The indicator provides a setting for moving averages (MA), which provides an opportunity to change the Fast and Slow MA periods in accordance with individual preferences, as well as the methods of their calculation (EMA, SMA, SMMA and LWMA).
The indicator contains the alerts function for the found signals. The settings of the feature allow to turn on / off notifications and choose between email and / or mobile notifications.
A buy signal appears when the price moves up, the EMA (9) crosses the EMA (18) from the bottom up, then the bearish Heiken Ashi candlestick should touch the EMA line (s), then after the first formed bullish candlestick, a BUY trade can be opened.
A sell signal appears when the price moves down, the EMA (9) crosses the EMA (18) from top to bottom, then the bullish Heiken Ashi candlestick should touch the EMA line (s), then after the first formed bearish candlestick, a SELL trade can be opened.
The dashboard shows information about the current status of detecting signals of a trading strategy.
The cell of the asset / timeframe contains information about the direction of the deal (BUY or SELL) and the serial number of the bar (the number of bars back) on which the signal was detected.
The color of the cell indicates the direction of the deal (BUY – green, SELL – red) and changes the saturation of the main color depending on how much the distance of the bars from the last bar on which the signal was detected increases.
Clicking on the corresponding cell will change your chart to the instrument and timeframe of the selected cell.
The indicator has the following parameters:
assets – selection of assets to search for signals.
enable_M1 – enable_MN – include / exclude timeframes (from a minute to a month) to search for signals via them.
max_bars – the maximum number of bars back, by which the scanner will search for signals. The parameter limits the number of calculations to speed up the indicator.
enable_alert – the option enables / disables alerts.
enable_email – allows you to send email alerts.
enable_mobile – allows you to send alerts to your mobile device.
Fast / Slow indicator setting – changing the parameters of moving averages: period, averaging method (EMA, SMA, SMMA and LWMA) and the type of price used for calculations (CLOSE, OPEN, HIGH, LOW and others).
We can also turn the indicator into an Expert Advisor (trading robot) with an extended set of custom functions (stop loss, take profit, trailing stop, risk management parameters, trading time limit, and others).
Request a free consultation from our team of professional programmers and find out the cost and timing of your project development.
Nordman Algorithms is not liable for any risk that you face using the software. Please, use the software on your own responsibility. The software is coded in accordance with a common known concept and Nordman Algorithms does not guarantee accuracy or trading performance of the software signals.
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