SHK Heikin Ashi MACD Signal Arrows is a chart window indicator for MetaTrader 5. It calculates synthetic Heikin Ashi candle values and displays them on the main chart with configurable candle colors.
The main purpose of the indicator is to make Heikin Ashi direction changes easier to inspect on a live chart while keeping signal calculation controlled by completed bars. By default, arrows are evaluated after a candle has closed, so a temporary color change on the forming candle is not treated as a final signal.
Signal logic
The indicator can mark buy and sell arrows after a confirmed Heikin Ashi color change. The number of confirmation candles is configurable. The indicator also includes an optional MACD histogram divergence filter. When this filter is enabled, a buy arrow requires a recent bullish regular divergence and a sell arrow requires a recent bearish regular divergence.
Candle display modes
The indicator can show standard Heikin Ashi coloring, trend based coloring, or momentum based coloring. The candle display can also be disabled if only arrows and marker buffers are required.
Alerts
Popup alerts, mobile push notifications, email alerts, and sound alerts can be enabled separately. A cooldown setting helps prevent repeated alerts from the same signal direction on every tick.
Main inputs
MaxBarsToCalculate controls how many recent bars are processed. ShowHeikinAshiCandles enables or disables the candle display. UseClosedBarsOnly keeps signal calculation on completed candles. ConfirmationCandles controls how many candles are required before a color change is confirmed.
RequireMACDDivergenceConfirmation enables or disables the MACD divergence filter. MACDFastEMA, MACDSlowEMA, and MACDSignalEMA control the MACD histogram calculation. EnablePopupAlert, EnablePushAlert, EnableEmailAlert, and EnableSoundAlert control alert delivery.
EA integration
The indicator exposes readable buffers for use through iCustom. Separate buffers are used for candle data, candle color state, momentum circles, buy arrows, sell arrows, and visual spacing.
Limitations
This indicator does not open, close, or manage trades. It is a visual technical analysis tool only. Signals should be checked on a demo chart before being used in live trading decisions.
The MACD filter implements regular bullish and bearish divergence only. Hidden divergence, multi symbol scanning, higher timeframe confirmation, and Expert Advisor order execution are outside this CodeBase version.
No DLL, WebRequest, account lock, expiry, or external data feed is used.