Heiken Ashi Smoothed – Binary – indicator for MetaTrader 5

Heiken Ashi is a very well known indicator.

One of the variations that is actually improving the indicator is the “smoothed” version. The logic behind the smoothed version is simple:

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  • Instead of using “raw” prices” for calculations, it’s using smoothed/filtered/averaged prices instead.
  • That usually filters out some false signals and makes it easier to use.
  • This version can use some of the 4 basic types of averages for smoothing:
    • Simple moving average (SMA).
    • Exponential moving average (EMA).
    • Smoothed moving average (SMMA).
    • Linear weighted moving average (LWMA).
  • Additionally you can use a “step” filter (in pips) to filter out value changes that are smaller than the desired threshold (if the step is set to <=0, then that filter is not used).
  • And unlike the Heiken Ashi Smoothed it is displaying 2 values only: +1 for trend up and -1 for trend down, thus making it suitable for usage from experts.
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