Among the many indicators, the “Heikin Ashi” is particularly characteristic. The average bar is an indicator born in Japan and incorporates a unique calculation method. Heikin Ashi is also popular with beginners because the entry timing is easy to understand visually.
This "HeikinAshiEA" is an EA (automated trading software) for the Metatrader 4 platform.
・ Heikin_Ashi_Smoothed (If not installed, install from the attached file)
・ 200-day simple moving average line
・ ATR (used for cutting losses)
This EA has the following conditions:
Place a buy order on (sell order is the reverse).
200-day moving average exceeds the previous day's closing price
The average foot is reversed from bullish to bearish (when the average foot changes from blue (bullish) to red (bearish) in the image example)
This entry logic is only confirmed when a new candlestick is created.
Set the take profit and stop loss with parameters. ATR stop and trailing stop can also be used.
The EA entry logic is unique. Usually, when Heikin Ashi reverse from bullish to bearish, placing a sell order is recommended. However, this EA is designed to place a buy order on the contrary. Test results show that this is more profitable.
For this reason, people who have used Heikin Ashi but have not won so much may be able to win using this Heikin Ashi EA. In any case, we recommend that you try this EA for yourself.
- UseATRStop - Defines whether the EA uses ATRStop or not. If true, the EA sets stop loss based on ATR.
- ATR - Multiplier of ATRStop.
- MAPeriod - The period used for MA calculation
- Shift - Shift of indicators
Note: Backtest results may be optimized. Also, the backtest results may differ from the trading results when using a live trading account. Please keep this point in mind when using the EA.
Download the "HeikinAshiEA" from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.