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The Heiken Ashi MA T3 is a trading indicator that was compiled on the basis of the functioning of two indicators included in the standard forex set - Heiken Ashi and a moving average. The indicator is used for trend trading, that is, the indicator allows determining the current market trend, and then indicates the optimal candle, on which a position can be opened in the direction with it. It is displayed directly in the main window of the price chart in the form of candles, painted in one of two colors and dots, which also have a certain color, which depend on current market conditions. The indicator itself is a very effective trading tool, thanks to which it is very easy to determine the current trend and open a position in its direction.
Input parameters
The Heiken Ashi MA T3 indicator has fairly advanced settings, which consist of a large number of input parameters that are responsible for its overall functioning, starting from the indicator periods included in its composition, ending with its visualization. In addition, the indicator has a separate section that is responsible for color scale and thickness of its values.
- MAPeriod - parameter responsible for the period of the used moving average. The default value is 12.
- Step - indicator step period. The default value is 0.
- MAMethod - type of moving average to use. Default value is T3 by T.Tilson.
- T3Hot - T3 indicator usage size. Default value is 1.272.
- BetterFormula - parameter responsible for using a different formula for calculations. The default value is false.
- T3Original - use the original version of the T3 indicator. The default value is false.
- SortedValues - parameter responsible for the use for sorting the selected values. The default value is true.
- ShowHeikenAshi - parameter responsible for displaying the Heiken Ashi indicator in the indicator window. The default value is true.
- ShowDots - parameter responsible for displaying indicator dots on the price chart. By default, it is set to true.
- DotsGap - parameter responsible for the value of the distance of dots from each other. The default value is 0.99.
- DotUP - parameter responsible for rendering dots with growth value. The default value is 108.
- DotDN - dots visualization parameter with fall value. Default value is 108.
- DotsSize - parameter responsible for the size of indicator dots. Default value is 0
- SoundFile - parameter responsible for the sound played during the signal. The default value is alert2.wav
- SIGNALBAR - number of the bar on which the indicator's signals will be played. The default value is 1.
- AlertsMessage - parameter responsible for playing the signal in the form of a message coming to the main window of the indicator. By default, it is set to true.
- AletsSound - option to play a sound when a signal is received. The default value is true.
- AlertsEmail - notification parameter in the form of an e-mail to a pre-specified e-mail. The default value is false.
- AlertsMobile - setting for notification to mobile phone. Default value is false.
Indicator signals
The Heiken Ashi MA T3 indicator has a very simple yet very effective usage algorithm. By identifying the current trend, the indicator determines the best moment to enter the market during this period. To open a certain position, one should take into account the direction of colored bars, their color, respectively, as well as the formation of dots located above or below the candles. And taking into account these indicator conditions, based on their combinations, the current trend is determined and a trade is opened in its direction.
Signal for Buy trades:
- Bars, with a color with a value of growth, are directed upwards.
- At the same time, it is important that a dot with a growth value appears under the signal candle.
After receiving such a combination of conditions, a long position can be opened on the candle confirmed by the signal, confirmed by an uptrend. Such a position should be closed after the reverse conditions are received on a certain candle, namely, a change in the color of the bars or the appearance of another dot. This will be a signal of a change in trend and the possibility of opening new trades.
Signal for Sell trades:
- Indicator bars move down and at the same time have a color with a falling value
- A dot with the value of the fall should appear on the signal candle.
Upon receipt of such conditions, a notification appears on the signal candle confirming the sell trade. It should be closed after the reverse combination of conditions is received. This will indicate a change in the current downward trend and the possible formation of a new one, allowing consider the possibility of opening new positions.
Conclusion
The Heiken Ashi MA T3 indicator is a very accurate and efficient trading algorithm based on the interaction of the same effective indicators. At the same time, it is also very easy to use and suitable for traders with any level of preparedness. However, if there are certain difficulties in using the indicator, It is recommended to practice using a demo account beforehand.
You may also be interested The AMA STL Color trend trading indicator for MT4
