Heiken Ashi EA MT5

[TopicStarter]

Introduction​

Heiken Ashi EA MT5 is a trading robot designed to capitalize on the Heiken Ashi candle patterns. With a rating of 4.93, it has garnered attention in the trading community. But let's not get carried away by the numbers. As a professional trader and programmer from the EASY Trading Team, I find it essential to scrutinize every aspect of this EA.

Description of Features​

Heiken Ashi EA MT5 operates by opening trades based on the color changes of Heiken Ashi candles. It offers customizable settings such as:

• Number of Heiken Ashi candles before opening a trade (2nd to 10th candle)
• Minimum distance between trades in the same direction
• Trailing stop settings based on Heiken Ashi candles
• Stop-loss and take-profit levels
• Risk management to limit maximum drawdown

The EA is optimized for ECN Raw Spread ICMarkets accounts but can be adjusted for other brokers.

Performance Analysis​

Over the past year, Heiken Ashi EA MT5 has shown mixed results. According to user reviews:

• Peter Saka Wagogo noted its effectiveness in trending markets but highlighted its poor performance in consolidating markets.
• User tmmt4 praised its effectiveness and customer service.
• David Gabriel appreciated its logical approach and risk management, noting a 10% gain in one week with a 15% drawdown.

The EA's performance is contingent on market conditions, thriving in trends but faltering in sideways markets.

Pros and Cons​

Pros:

• Effective in trending markets
• Customizable settings for various trading parameters
• Good risk management features
• Affordable price

Cons:

• Poor performance in consolidating markets
• Requires manual adjustments for different brokers
• No built-in filter for market conditions

Conclusion​

Heiken Ashi EA MT5 is a competent trading robot for those who understand its limitations. It excels in trending markets but requires careful monitoring and adjustments in consolidating conditions. Traders should approach it with realistic expectations and a willingness to tweak settings as needed.

Source Code of Heiken Ashi EA MT5​

We do not have access to the original source code of Heiken Ashi EA MT5 sold on MQL5. However, based on its description, we have created a sample code that replicates its functionality. This code is available for review and modification. Note that this is an example provided by easytradingforum.com, and we do not sell the Heiken Ashi EA MT5 robot.

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Download Heiken Ashi EA MT5​

If you have any questions about the code or its implementation, feel free to ask. The EASY Trading Team is here to help you navigate the complexities of automated trading. Remember, we do not sell Heiken Ashi EA MT5; we only provide a code example based on its description. Share your experiences and results on our forum to help others make informed decisions.

 

[Maximilian Krueger]

Heiken Ashi EA MT5 is pre-configured with a EURUSD H4 strategy, which has been specially fine-tuned for ECN Raw Spread ICMarkets accounts that operate on New York based GMT+3 time zone servers. While it's certainly possible to use other brokers or account types, I would advise thorough testing of Heiken Ashi EA MT5 along with necessary time adjustments to ensure compatibility with your particular broker/account. You can easily check your server time in the MT5 Marketwatch window (MT5 -> View -> Marketwatch). Just to aid you all, I've compiled a list of necessary adjustments according to various broker's server time zones. But remember, always align Heiken Ashi EA's MT5 Start Time and End Time settings before you proceed with testing or trading! The server and corresponding start and end times are as follows: GMT-12 16:59 00:59, GMT-11 17:59 01:59, GMT-10 18:59 02:59, and so on up to GMT+12 16:59 00:59. Stay cautious and trade wisely!

 

[Cryptorush99]

Absolutely thrilled! After much searching, I've finally found a Heiken Ashi EA for MT5 that delivers on its promises. The clarity brought by the numeric values is a game changer. This EA appears to be a real gem in the realm of automated trading.