Heiken Ashi Smoothed Indicator, Elite Trend Rider

Description

A straightforward MT5 indicator, Heiken Ashi Smoothed Indicator, displays bullish and bearish bars on the chart to indicate the trend’s direction.

Green bullish bars and orange bearish bars make up the indication. The indicator changes color as the trend shifts in a different direction.

It is a modernized version of the classic Heiken Ashi indication. Compositions of Moving Averages indicators for building bars.

Heiken Ashi Smoothed Indicator Signals for Buying and Selling

The AUDUSD H1 chart above illustrates the indicator’s BUY and SELL signals.

This indicator identifies bullish and bearish trends by displaying colored bars, which visually represent the overall market sentiment.

It functions similarly to a traditional candlestick chart, using green and orange bars to help forex traders interpret price movements more clearly.

A built-in moving average filter helps eliminate false signals, offering more precise entry and exit points.

Additionally, the indicator is useful for spotting potential market reversals—traders can consider closing their positions when the color of the bars changes.

How to trade using the Heiken Ashi Smoothed indicator:

• When orange bars appear, consider entering a short (sell) position.

• When green bars are displayed, it signals a potential long (buy) opportunity.

Is the Heiken Ashi Smoothed indicator reliable?

A trustworthy indicator that provides precise BUY and SELL signals is Heiken Ashi Smoothed.

Conclusion

To show the direction of a trend, this MT5 indicator plots bullish and bearish bars. All forex traders can simply use this indicator because it is also free to download.