Free MT4 Indicators

Free Forex MT4 Indicator:    ClearChart 2 Heiken Ashi Smoothed

This Metatrader 4 Indicator (MT4) can be downloaded for free to trade Forex, Futures, Commodities, CFDs and more


There is a 91.6% average probability that the next ClearChart 2 Candle will close the same direction as the previous candle*

*These statistics taken from a sample of 10,000 bars over a period of 2-57 months.

►Primarily, probability decreases as time frame decreases across same number of bars due to the tendency for choppier action driven by meaningless random noise exerting a higher influence on the internal technical methods for measurement used by the tool.

►Secondarily, probability decreases as time frame decreases across same number of bars due to the data from Australia + Asia sessions receiving an increased number of distinct, data-influencing bars to call their own. Thus increased potential for the interruption of existing candle color continuation that may have existed during London + New York. This Australia + Asia action is inherently choppier, often meaningless, and often simply Market Maker trickery or the stop hunting of weak hands. These two sessions have a negative, polluting effect on overall candle color continuation as a whole and therefore analysis of.

►Probability percentage is higher when previous number of continuous same color candles is lower.

►Probability percentage decreases as previous number of continuous same color candles increases.

In other words when measured on whole, there are more instances of shorter candle color continuation events than there are longer candle color continuation events.

Regardless of cause, the lesser instances of longer candle color continuation events can still far outproduce in terms of total gains.

So while we should assume a shorter candle color continuation event is manifesting especially on shorter time frames, statistics suggest that allowing ourselves to participate in longer candle color continuation events when they do occur to a lesser extent might be beneficial. A possible tactic allowing for this participation in longer lasting trend events might be through the use of Money Lots (view pop-up illustration) as outlined on 5NITRO+ Trading Page 2 under the sub heading ‘Money Lots Help Prevent Chasin Pips’.

But as the analysis of these statistics once again clearly prove as does most any realistic analysis for that matter, the #1 and by far most ignored tactic would be that of eliminating such questionable and misguided self-imposed rules like ‘never holding a position overnight or through a weekend’.

It could only be imagined what catastrophic impact this simple change of Retailer mindset and applied method would have on global FX Bucket Shops if it were to be applied en masse.

ClearChart 2 Shown Together With New 5NITRO+ Meter(s)
ClearChart 2 Used Together With The New 5NITRO+ Meters as Additional Confirmation

How to Install Indicators Like ClearChart 2 HAS and 5NITRO+ Into The New Metatrader 4?

ClearChart 2 Heiken Ashi Smoothed Properties

CC2 HAS is an ideal candidate for many markets including Forex, CFD, Commodity, Futures, Equity, Equity Index, Bonds, Bunds, BitCoins, and Options (traditional).

CC2 HAS usefulness can prove even more apparent when attached to such volatile pairs like GBPJPY, CADJPY, USDMXN

CC2 HAS has been reported useful by those opting for Intraday swing trading methods on the M15, M12, M10, M6, M5, M4, M3, M2, and even M1 time frames.

CC2 HAS reportedly is equally useful in riding the continuous megatrends of longer time frames, namely on H4 and D1.

CC2 HAS helps to counter market noise. Market noise is the #1 enemy of standard Candlestick users on smaller time frames due to false pattern formation.

Certain FX Consortiums have indicated that HAS might be an interesting trading tool especially for newer traders.

Certain other FX Consortiums have devised that HAS will help those who are often negatively affected by their swings of emotions.

This New ClearChart 2 version of is adjustable for amount and type of smoothing desired using a quick, drop-down selection format.

Both period settings reduced to one (1) and modification of method will revert CC2 HAS to the non-smoothed, standard Heiken Ashi.

While sufficient as a stand alone indication for guidance, CC2 HAS is maximized when implemented together with a wide-spectrum aggregation tool such as
       The New 5NITRO+ Indicator for the New Metatrader Builds greater than 600.

Download Free Forex Indicator for The New Metatrader 4 Builds 1010 to 1072+:

ClearChart 2™ Heiken Ashi Smoothed (HAS)click button to download your free forex metatrader 4 indicatorsThis is your free forex mt4 indicators resource.ClearChart 2 HAS MT4 Indicator is included in The 5NITRO+ Download for Free

No Personal Information is Required to Download Your Free Indicator(s). You do not need to provide your real name or real email address if you wish not to. You will be taken to your download page instantly after entering any name and any email address. The Download Links never expire. If you would like the information and download links also sent instantly to your email inbox for your records and safekeeping and to be able to access the download link and files at any time in the future, then you should at least provide a valid email address to an inbox you will always have access to. The download link sent to your email address will always remain valid and accessible regardless of whether or not this page and the free download button continues to exist.

How to Install?

News + Notes

2ND Version Upgrade Sent Automatically to All Users:

New ClearChart 2 was sent to all ClearChart Customers as long as ‘Join Mailing List For This Product’ was selected at time of download. If it was not, no worries. The New CC2 was uploaded here and you can download it again, directly above on a new unique download page.

MT4 Unofficial Beta Build 854:

Beta Build 854 pushed to Demo platforms has fixed the Free Heiken Ashi Smoothed Indicators and many like it.Unofficial MT4 Beta Build 854 Fixed Many Indicators Including the Free ClearChart HAS

MT4 Unofficial Beta Build 851:

Beta Build 851 pushed to Demo platforms has broke the Free Heiken Ashi Smoothed Indicators and many like it. More information within the NITRO+ thread at Forex Factory in this post

If you are running 5NITRO+ via one of the templates that also includes this Free Indicator, just delete ‘ClearChart HAS’ from the Indicator List then resave template as shown below: Unofficial MT4 Beta Build 851 Broke Many Indicators Including the Free ClearChart HASFor Now, Delete ClearChart Heiken Ashi Smoothed From Indicator List

How The ClearChart 2 Default Settings Were Derived

Although settings were adjusted minatory when Beta Testing 5NITRO+ such as switching to Linear Weighted Moving Average Method instead of Smoothed occasionally, I have been using some form of this tool for years. I have been adjusting it for years. The Default Settings are fine.

There is no such thing as a perfect setting for any tool or indicator, except maybe (14) for RSI or (10) for RVI.

Endlessly tinkering with indicator settings in search of that secret one that Hedge Funds use is not the best use of brain power and time. A trend is either moving UP … or it is moving DOWN. Adjusting the settings of MACD, for example, from the standard (12,26,9) will do nothing to change this.

Although, similar to buying and trying every Forex Robot that has been peddled with the fantasy belief that “This will be the one!”, sometimes we just all need to disprove certain theories on our own before we can finally move forward and simply Buy a Pair that is moving UP and Sell a Pair that is moving DOWN.

There is No Magic ClearChart 2 Setting

The Magic is in the tool itself and its ability to detect subtle changes in price action that are not ‘within the norm’ of the current trend that it is in.

Some users, and occasionally I, prefer to use the Linear Weighted Moving Average Method instead of SMMA on 1H charts and higher. On 1H charts and higher, the price action and thus the chart itself is already inherently filtering out market noise and meaningless, subtle movements by itself.

On charts such as the 1M and 5M, some Corporate Trader for Toyota can create what appears to be a significant technical move in USDJPY with the push of a button.

What could appear to a traditional Heiken Ashi or ClearChart 2 HA using Linear Weighted Moving Average (LWMA) to be price action ‘not within the norm’ of the current trend, was simply because he just got back from lunch and there was a Post-It Note on his desk that said he needed to convert more Dollars to Yen before he could leave for his Golf Outing.

These subtle random movements that can occur within the Forex Market when your view is very short is why, overall, we always recommend longer time horizon trading no matter which tools you are using. The more that randomness, or luck, can affect you success – the more of a gamble it is. This is why when ClearChart 2 and 5NITRO+ is used for Forex Binary Options Trading, we recommend only the longer expire time frames where randomness is less(er) present*

*The Binary Options Market should be avoided by Retailers like The Plague unless comprising only a small percentage of overall yearly transactional volume when combined with traditional, in addition to these longer expire times mentioned above.

In my normal everyday trading on 1H charts and higher, I will often switch to a Template with the Linear Weighted adjustment already made within ClearChart 2 when price is approaching the 200SMMA Moving Average line that is used for additional guidance.

Subtle Price Action within the vicinity of this 200SMMA is more important to me than at any other time.

I personally desire to be notified quicker about trend shifts in this area, even if they are false. The ‘overall prevailing trend’ is less important to me at this time because I am already aware and on alert that there may be a massive change in sentiment soon to come due to the proximity of the 200SMMA.

Additional Use For ClearChart 2 Heiken Ashi Smoothed (HAS)

Use Heiken Ashi as Main Moving Average

The screen shot above shows an extra ClearChart 2 instance that can act as your main Moving Average.

Or, it can be added on top of your already existing Moving Average. The picture shows an extra ClearChart 2 using a 200 period and Smoothed selected as the method.

Choice of Four (4) Methods:

  • Simple
  • Exponential
  • Smoothed    [default]
  • Linear Weighted
  • To increase the width of ClearChart 2 as shown in the picture, change the widths of both candles to either 4 or 5. The picture, I think, shows a width of 4. A candle width setting of 5 produces a completely solid area with no horizontal see-through space in between.

    To ensure that your standard width ClearChart 2 displays on top of your new wider version allowing you to see action, you will need to delete it from the chart and re-install after the wide. Metatrader stacks indicators in the order in which they are installed.

    Remember to save your new setup and settings as a new template.

    This Wider Moving Average Can Now Serve Multiple Purposes

    This wider area can serve to widen our ‘Decision Area’ around this critical range and provide an early warning that price is near.

    It can serve as a boundary to keep all entries within or help indicate a beginning level to re-enter or re-establish positions on retracements that were previously cleared Take Profits.

    In addition, this wider Moving Average now has the added benefit of changing colors to signify increasing or decreasing.

    Objects Not As Close As They Appear

    It can also help to give you chart perspective because of the varied height of the candles it produces, as opposed to a traditional single width static thin line.

    When using a Moving Average such as 200SMMA for added guidance like I do as shown in the EURJPY screen shot above and all the September 23, 2012 Open Position screen shots on the 5NITRO+ Open Positions – Trading Page 2, the static width of a standard MA can be misleading as to how far or near price is in relation to it. This can occur when there are extreme high and low prices within the time period the chart is showing, for example CHF pairs over the past 6-9 months on a Daily Chart. (this was written Feb, 2012)

    The modified ClearChart 2 helps to provide a better prospective in these situations and give you a more precise idea of just how close you are to your decision MA because volatility is essentially taken into account. For example, on many of the current Daily CHF pair charts, the modified ClearChart 2 candles are short… indicating “Objects are not as close as they appear”.

    I personally go through phases, seemingly on a monthly basis, as to whether I use the additional wide ClearChart 2 or not.

    Sometimes I prefer the extra freedom it allows me in the additional ‘Decision Area’. Other times, I prefer and need to be more precise and disciplined with my entries. I guess it really depends on the pair, and how much time price spends hanging around in this area and what The 5NITRO+ reading is at the time.

    More Heiken Ashi Smoothed (HAS) Indicator Resources

    While we are able to provide free support when downloading ClearChart 2 HAS within the 5NITRO+ Download Package, it is not possible without the 5N+ purchase. There are 150+ free downloads of ClearChart 2 each month.

    ClearChart 2 + MT4 Indicator Installation Instructions
    ClearChart 2 Used Together with NITRO+ in 2010 Testing
    ClearChart 2 Used Together with 5NITRO+ – General Ideas Page 1
    ClearChart 2 Used Together with 5NITRO+ – General Ideas Page 2
    ClearChart 2 Used Together with 5NITRO+ – General Ideas Page 3
    ClearChart 2 Configured within the 55 Free 5NITRO+ Templates
    ClearChart 2 Configured with 5NITRO+ More Examples
    1000s of Heiken Ashi Smoothed Resources

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