The 4 TF Heiken Ashi Arrows is a multi-timeframe trend-following indicator for the Metatrader 4 trading platforms. This indicator closely monitors the Heiken Ashi value in 4 different timeframes and generates strong trend signals for its users.
Heiken Ashi is a universal trend indicator. It works great on all types of trading asset charts including forex, stocks, futures, commodities, and Cryptocurrencies. However, 4 TF Heiken Ashi Arrows is a scalping indicator and suits only with shorter TFs like M5, M15. and M30 charts of the MT4 platforms.
4 TF Heiken Ashi Arrows Overview
The 4 TF Heiken Ashi Arrows uses a separate indicator window for showing the trend conditions based on the current Heiken Ashi value of the asset. There are 4 rows of signal bars representing the trend signals of 4 different timeframes.
Whenever the indicator identifies a significant level of strength of a particular trend, it delivers the signal by using arrows at the main chart window. The direction of the arrows reflect the possible direction of the upcoming market trend.
4 TF Heiken Ashi Arrows Explained
The first row of the indicator shows the trend status in the current timeframe of your chart. The following rows below the first one automatically choose the next timeframes.
For instance, if you apply a 15-minute timeframe chart, the second row will automatically show the Heiken Ashi report of a 30-minute chart. Also the third and the fourth row will demonstrate the trend conditions based on H1 and H4 TFs respectively.
For bullish trends, most of the bars need to be turned into a green color including an arrow at the main chart window pointing upwards. Contrarily, the bars become red and plot a down arrow signal when the trend turns bearish. Once you get a trend confirmation, simply pull the trigger following the trend direction.
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4 TF Heiken Ashi Arrows: Buy Conditions
- Most of the rows of the indicator turn green
- A green arrow appears at the chart pointing upwards
- Go long after a bullish trend is confirmed
- TP target: 2R
4 TF Heiken Ashi Arrows: Sell Conditions
- At least 3 rows (out of 4) should be turned red
- The indicator plots a red arrow at the main chart pointing a bearish trend direction
- Trigger a sell order once the indicator confirms a bearish market trend
- Minimum exit target: 2R profit
