The Heikin Ashi Dashboard MT5 offers a sophisticated Forex Market Analysis tool designed to provide traders with a comprehensive overview of multiple currency markets. Developed with the advanced trading dashboard technology, this Multicurrency Market Indicator has become a go-to tool for seasoned and novice traders alike.
Understanding Heikin Ashi Dashboard MT5
Heikin Ashi Dashboard MT5 is a multi-currency and multi-timeframe indicator, providing a detailed snapshot of the current market state. It showcases the direction, strength, and the number of bars of the current trend. Moreover, it color-codes the Consolidation/Reversal candles (dojis) for a quick and easy understanding of market trends.
This Trading Software Review would be incomplete without mentioning that users can specify any desired currencies and periods in the parameters. It also has the capability to send notifications when the trend changes or when reversal and consolidation candles appear. By simply clicking on a cell, the symbol and period will be opened, offering comprehensive Forex Market Analysis.
Heikin Ashi: The Japanese Trading Indicator
The term “Heikin Ashi” translates to “average pace” in Japanese. Heikin Ashi is a financial chart and trading indicator that was created in the 1700s by Munehisa Homma, who is also the creator of the candlestick chart. These charts help traders and investors predict price movements by tracking a range of price movements, in contrast to candlestick charts that track every price movement.
Parameters of the Heikin Ashi Dashboard MT5
The Heikin Ashi Dashboard MT5 allows users to select an averaging method for smoothing candle prices. Choices range from Simple MA, Exponential MA, Smoothed MA, Linear Weighted MA, and normal Heikin Ashi. The parameter for the averaging period for smoothing can also be defined. Users can choose to ignore the current candle and display only the closed bars.
Furthermore, the dashboard allows traders to specify their set of pairs either from the “Market Watch” or manually in the parameters. Users can also opt to show only the current pair. The pairs are listed as symbols separated by spaces or semicolons. The currency names should match the broker’s, including case and prefix/suffix. Time frames, too, can be separated by a space.
Independent Testing and User Feedback
For those interested in further exploring the Heikin Ashi Dashboard MT5, independent testing of this product is available on the forexroboteasy.com website. Users can also subscribe to updates on the results of testing this product. Sharing personal experiences of using this product is encouraged to help other traders make informed decisions.
FAQs
What is the Heikin Ashi Dashboard MT5?
The Heikin Ashi Dashboard MT5 is a multi-currency and multi-timeframe market indicator that provides a comprehensive snapshot of the current market state.
Who created the Heikin Ashi charts?
Heikin Ashi charts were created in the 1700s by Munehisa Homma, who also created the candlestick chart.
Can I customize the Heikin Ashi Dashboard MT5 parameters?
Yes, the Heikin Ashi Dashboard MT5 allows users to specify any desired currencies and periods in the parameters.
Where can I find independent testing of the Heikin Ashi Dashboard MT5?
Independent testing of the Heikin Ashi Dashboard MT5 is available on the forexroboteasy.com website.
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