Heiken Ashi MA T3 New Indicator
The Heiken Ashi MA T3 New indicator for MT4 is an advanced trend-following system that analyzes the trend bias of any currency pair.
Description
The Heiken Ashi MA T3 New indicator for MetaTrader is a trend-following system that analyzes the trend bias of any currency pair. It is a superior version of the regular Heiken Ashi indicator, designed with more advanced technical tools like the trend reversal arrows, a T3 line, and the moving average.
The T3 line of the indicator works as an extra layer of confluence to confirm when the moving average crosses over. Moreover, the Heiken Ashi bars of the indicator would change to blue to depict a potential bullish move and turn red when the trend is bearish.
Furthermore, the indicator also comes with a signal dot (colored in lime/magenta) that triggers the buy/sell entry. What’s more, the indicator is recommended for beginners, intermediate, and advanced forex traders. It would also be an invaluable trading tool for scalpers, day/intraday, and swing traders as well.
How to Trade With Heiken Ashi MA T3 New Indicator
The above image depicts the indicator’s action on an AUDUSD currency pair in the H4 timeframe. It shows how to combine price action with the indicator’s signal to generate a high-probability setup.
From the above buy signal, you can see the price printed a bullish engulfing candlestick pattern, which suggests a potential bullish move. The Heiken Ashi bars of the indicator also changed to blue, while the lime signal dot triggers the buy entry.
The above principle was also applied to generate the sell signal. While Take Profit/Stop Loss is discretionary to every trader, Stop Loss is recommended to be placed just a few pips below/above the Heiken Ashi bars for the buy/sell signal, respectively.
Conclusion
The Heiken Ashi MA T3 New indicator for MT4 is an optimized version of the Heiken Ashi indicator with more accurate trend analysis and signals. Furthermore, it also comes with an alert system to notify you when the trend changes direction. Finally, it is free to download.