About the Heikin Ashi Trader Expert Advisor
The Heikin Ashi Trader MT4 forex robot is an expert advisor, also tagged an EA.
It deploys the Heikin-Ashi trading technique, the Stochastic oscillator, and fast and slow moving averages to execute buy and sell trading positions on autopilot.
The Heikin Ashi Trader EA works best on the major forex pairs, such as EUR/USD, GBP/USD, USD/JPY,…
Forex robot traders can take advantage of the adjustable STOC1, STOC2, STOC3, FastMA, and SlowMA inputs to vary variable values for more personalized trading results.
Feel free to experiment with its input values.
The “when to move break even” is a very important system variable that functions like a stop loss but has a smaller value.
Thereby makes it possible to lock in minimal profits and avoid loss if the price moves against you.
The Heikin Ashi Trader EA trades only with the price of the open candle.
Free Download
Download the “Heikin Ashi Trader.mq4” MT4 robot
Key Features
Heikin-Ashi Trading Technique
The EA employs the Heikin-Ashi method to filter out market noise and identify trends more clearly, enhancing the accuracy of trade signals.
Stochastic Oscillator Integration
By incorporating the Stochastic oscillator, the EA identifies overbought and oversold conditions, providing additional confirmation for trade entries.
Dual Moving Averages
The use of both fast and slow moving averages helps determine the prevailing market trend, ensuring that trades align with the overall market direction.
Break-Even Feature
The “When to Move Break Even” function allows the EA to lock in profits by moving the stop loss to the entry point once a certain profit threshold is reached.
Automated Trade Execution
Once the entry conditions are met, the EA automatically executes buy or sell orders, eliminating the need for manual intervention.
Strategy Tester Report
Find below the Heikin Ashi Trader forex robot strategy tester report for the EUR/USD forex pair on the daily chart.
Key Performance
The Heikin Ashi EA made a total profit of $12094.62 from a total of 221 trades.
The largest winning trade generated $1350.48 in profits, while the largest losing trade generated a loss of $311.90.
Statistics:
Bars in test: 2051 ticks modelled
Initial deposit: $10000.00
Total net profit: $12094.62
Total trades: 221
Largest profit trade: $1350.48
Largest loss trade: -$311.90
Consecutive wins: 3
Consecutive losses: 2
How the EA Works
- Monitors the market for Heikin-Ashi patterns indicating potential trends.
- Confirms trade signals using the Stochastic oscillator and moving averages.
- Executes buy orders when all conditions align for a bullish trend.
- Executes sell orders when all conditions align for a bearish trend.
- Applies stop loss and take profit levels based on user-defined settings.
- Moves stop loss to break even once a certain profit threshold is reached.
Download Now
Download the “Heikin Ashi Trader.ex4” Metatrader 4 robot
Parameters & Settings
- Lot Size — Defines the volume of each trade.
- Stop Loss — Distance from entry point to stop loss level in pips.
- Take Profit — Target profit level in pips.
- Fast MA Period — Number of bars used to calculate the fast moving average.
- Slow MA Period — Number of bars used to calculate the slow moving average.
- Stochastic Period — Number of bars used to calculate the Stochastic oscillator.
- Stochastic Overbought Level — Overbought level for the Stochastic oscillator.
- Stochastic Oversold Level — Oversold level for the Stochastic oscillator.
- Break Even Profit — Profit level at which the stop loss is moved to break even.
- Magic Number — Unique identifier for each instance of the EA.
Recommended Trading Setup
- Currency Pairs: EUR/USD, GBP/USD, USD/JPY.
- Timeframes: H1, H4.
- Broker: ECN or low-spread brokers for optimal performance.
- Account Type: Standard or ECN accounts.
- Risk Management: 1–2% per trade for account protection.
FAQ
Can the EA trade on both major and minor currency pairs?
Yes, the EA can trade any pair available on MT4, but it performs best on high-liquidity pairs like EUR/USD, GBP/USD, and USD/JPY.
Does it handle volatile market conditions?
Yes, the EA adapts to changing market volatility using stop loss, take profit, and break-even features to manage risk.
Can I run the EA on multiple charts at the same time?
Absolutely. Make sure to assign a unique Magic Number to each chart to prevent trade conflicts.
How does the EA manage trades during ranging markets?
While optimized for trending markets, the EA’s Heikin-Ashi and Stochastic filters reduce false signals in sideways markets.
Is a VPS recommended for running the EA?
Yes, using a VPS ensures 24/7 uptime, low latency, and faster execution, which improves EA performance on live accounts.
Summary
The Heikin Ashi Trader MT4 Forex Robot automates trading using Heikin-Ashi candlestick patterns, the Stochastic oscillator, and moving averages.
It identifies trends, filters noise, and executes buy and sell orders with precision.
With customizable settings, break-even management, and automated risk controls, this EA suits both beginner and experienced traders.
Download it for free to enhance your trading strategy and capture profitable opportunities with minimal manual effort.
