Building a Custom Heiken Ashi Indicator and Using It in MQL5 Trading Systems
Summary
The article walks through implementing a custom Heiken Ashi indicator in MQL5 and calling it from Expert Advisors. It describes the smoothed candle calculations: the open uses the prior Heiken Ashi open and close, the close averages the current period's open, high, low, and close, and the high and low are selected from current price and calculated candle values. The indicator stores these outputs in buffers and plots bullish and bearish candles.
The author then applies the custom indicator in example systems, including a version combined with an exponential moving average. Heiken Ashi is presented as a way to smooth price movement and reduce some visual noise, not as proof of predictive power. The examples are educational implementations; the supplied text does not report quantitative performance results or establish that the systems are profitable. It also notes that suitability should be tested before live use.
Key ideas
- Heiken Ashi candles use recursive and averaged values rather than plotting raw OHLC prices directly.
- MQL5 indicator buffers store calculated open, high, low, close, and color data for plotting.
- A custom indicator can be accessed by an Expert Advisor to build automated trading examples.
- The article demonstrates Heiken Ashi systems, including one combined with an EMA, without reporting performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.