Heiken Ashi EA (Source Code) MQ4

The Heiken Ashi EA is an expert advisor based on the popular Heiken Ashi candlestick charting technique. It has been adapted for use with the MetaTrader 4 (MT4) platform. In this article, we’ll explore the key features, optimal settings, and trading strategies associated with this EA.

Features and Specifications

• Minimum Deposit: The Heiken Ashi EA can be used with a minimum deposit of $500.
• Timeframes: The EA is optimized for three different timeframes:
  • 1-minute (M1)
  • 5-minute (M5)
  • 15-minute (M15)
• Currency Pairs: While the EA works well with various currency pairs, it is recommended to avoid XAUUSD (Gold) for this strategy.

Trading Strategy

The Heiken Ashi EA follows a trend-based strategy that combines Heiken Ashi candles with other indicators. Let’s break down the strategy:

1. Trend Direction:
   • The EA trades only in the direction of the trend.
   • Up Trend:
     • When the smoothed moving average (SMA) with an 11-period is above the exponential moving average (EMA) with an 89-period, and the Heiken Ashi candles are green.
   • Down Trend:
     • When the SMA with an 11-period is below the EMA with an 89-period, and the Heiken Ashi candles are red.

1. Entry Signals:
   • Buy (Long):
     • Triggered when the following conditions are met:
       • Trend is up (SMA11 > EMA89).
       • Non-lag MA shows a blue dot and blue background.
       • Heiken Ashi candles are green.
       • Optionally, MACD 2-color histogram bars are green.
   • Sell (Short):
     • Triggered when the following conditions are met:
       • Trend is down (SMA11 < EMA89).
       • Heiken Ashi candles are red.
       • Non-lag MA shows a red dot and red background.
       • Optionally, MACD 2-color histogram bars are red.
2. Hints:
   • MACD Crosses Zero Line: Good positions often occur when the MACD crosses the zero line.
   • Heiken Ashi vs. Normal Candles: Consider switching between Heiken Ashi and normal candles for price action analysis.
   • Strong Trends: Large Heiken Ashi candles with small wicks in the direction of the trend indicate strong trends.

Remember, trading involves risk, and past performance is not indicative of future results. This bot could be your ticket to success—so trade wisely and soar in the Forex world!

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