Heiken Ashi MTF v2

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Heiken Ashi MTF v2 indicator is making use of our other Heiken Ashi indicator to display a Heiken Ashi bar indicator capable of changing color based on a higher timeframe.

Heiken Ashi MTF Metatrader indicator

A common use for this Heiken Ashi Metatrader indicator is to detect the trend on higher timeframes in order to determine whether to sell or to buy on the current timeframe. It is a well known forex trading strategy when following the trend. In the example above, the trader could decide to buy when the Heiken Ashi bar is blue color, and sell when it is red.
You can download this Metatrader indicator free from here.