Heikin-Ashi Color-Change Arrows with MACD Divergence Confirmation
Summary
This MetaTrader 5 indicator calculates synthetic Heikin-Ashi candles and displays configurable colors and signal arrows on a chart. Buy and sell markers can follow confirmed candle-color changes, with a setting for how many candles must confirm the shift. Signals are evaluated on completed bars by default, avoiding reliance on temporary changes in a still-forming candle. An optional MACD histogram filter requires recent regular bullish divergence for buy arrows or bearish divergence for sell arrows.
Display choices include standard, trend-based, and momentum-based candle coloring, while alert channels can be enabled separately and repeated alerts can be limited with a cooldown. The indicator exposes buffers for chart data and signals for external integration, but it does not execute or manage trades. The description provides no performance testing or evidence that the signals are profitable. Its divergence logic is limited to regular divergence; hidden divergence and higher-timeframe confirmation are not included, so signals remain a visual aid requiring independent assessment.
Key ideas
- The indicator marks Heikin-Ashi color changes after a configurable number of confirmation candles.
- Closed-bar evaluation is enabled by default to avoid treating an unfinished candle as a confirmed signal.
- An optional MACD histogram filter requires recent regular divergence in the signal direction.
- Candle coloring, alerts, and indicator buffers can be configured for chart display and external use.
- The indicator does not execute trades and does not include hidden divergence or higher-timeframe confirmation.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.