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Heiken Ashi EA MT4/5 Settings/Inputs Guide

8 September 2021, 21:05

Eleni Anna Branou

3 547

✔️ Heiken Ashi EA MT4©: https://www.mql5.com/en/market/product/45283

✔️ Heiken Ashi EA MT5©: https://www.mql5.com/en/market/product/64877

Video Guide: How to Setup Heiken Ashi EA MT4/5 with provided set files

You can find the Heiken Ashi EA MT4/5 set files, along with detailed instructions and advice at the bottom of this guide.

Warning! If you plan to trade only 1 of the provided set files, you could leave the Risk % per trade to the default 3%, if you want to trade a few of the suggested set files, I suggest to lower the Risk % to 1% - 2% but if you would like to trade all set files, I strongly suggest to put the Risk % per trade to 0.5% - 1% per symbol.

Heiken Ashi EA MT4/5 Inputs

Allow Long: True/false for opening Buy orders.

Allow Short: True/false for opening Sell orders.

Minimum Distance for Same Direction Trades in Points: The minimum distance in points between same direction trades. You can put a large number here (larger than the average daily range of the pair that is traded, for example 3000) in order to trade Heiken Ashi candles with the traditional way, by opening a new trade on the first different color Heiken Ashi candle and then a new trade on each color change.
Maximum Number of Trades per Heiken Ashi Change: The maximum number of same direction trades that the EA will open per Heiken Ashi candles color change/cycle. This setting includes open and closed same direction trades per Heiken Ashi color change/cycle. This setting resets every time the Heiken Ashi candles change color/cycle.

Stop Same HA Change Trades After Close: True/false of the option to refrain from opening new same direction trades after the first trade(s) of the current direction Heiken Ashi candles has been closed with any kind of closure (TP, SL, BE, Trailing SL, Basket or manual closure).
New Signal on Heiken Ashi Candle: In this setting you can select the number of the new direction Heiken Ashi (classic or smoothed) candle, that the first trade of this new direction will be opened. By default this setting will open the first trade at the opening of the 2nd (second) Heiken Ashi candle. You can select from the 2nd to the 10th Heiken Ashi candle.
First Session Trade on Next Signal: True/false of the option to open the first trade when the EA is first attached on the chart and in every next trading session (at the Start Hour/Minutes), at the next candle when this setting is false (by default) or at the next opposite signal when it is true. This way you will be able to avoid exhausted signals that are near to their end.

Lot Size: The Lot Size of orders.

Use Risk %: True/false of the Risk % option

Risk %: The % of account's balance that it will be risked in every trade. Risk is calculated on Virtual Stop Loss level.

Magic Number: The Magic Number assigned in every trade.
EA Comment: The comment all trades of the Heiken Ashi EA MT4/5 will have in the comments section of the Terminal/Toolbox window of your MT4/5 terminal.

Offset in Points: The better level from current price in points that the EA will wait for opening a new trade.

Opposite Logic: True/false of the option to open an opposite direction order of the current signal. A Buy order for a short Heiken Ashi candle and vice versa.

EA Timeframe: The Timeframe that the EA will function and open trades.

Heiken Ashi Timeframe: The Timeframe of the Heiken Ashi candles/signals.
Use MA Filter: True/false of the Moving Average Filter option, that allows the EA to open Buy orders only if the price is above the set Moving Average (the reverse for a Sell order).
MA Filter Timeframe: The Timeframe of the Moving Average Filter.
MA Filter Period: The Period of the Moving Average Filter.
MA Filter Method: The Method of the Moving Average Filter.
MA Filter Shift: The Shift of the Moving Average Filter.
MA Filter Applied Price: The Applied Price of the Moving Average Filter.

Use MACD Filter: True/false of the MACD Filter option, that allows the EA to open Buy orders only if the MA line is above the signal line of MACD indicator (the reverse for a Sell order).
MACD Filter Timeframe: The Timeframe of the MACD Filter.
MACD Filter Fast EMA: The Period of the Fast Exponential Moving Average of MACD Filter.
MACD Filter Slow EMA: The Period of the Slow Exponential Moving Average of MACD Filter.
MACD Filter SMA: The Period of the Simple Moving Average of MACD Filter.
MACD Filter Applied Price: The Applied Price of the MACD Filter.

Start Hour: The hour the EA will start functioning, for example if you want to start trading at 1:00 you put here 1, if you want to trade 24 hours, you put here 0.
Start Minutes: The minutes the EA will start functioning, for example if you want to start trading at 1:05 you put here 5, if you want to trade 24 hours, you put here 0.

End Hour: The hour the EA will stop functioning, for example if you want to stop trading at 1:30 you put here 1, if you want to trade 24 hours, you put here 23.
End Minutes: The minutes the EA will stop functioning, for example if you want to stop trading at 1:30 you put here 30, if you want to trade 24 hours, you put here 59.
Trade on Monday: True/false option for opening new trades on Mondays.
Trade on Tuesday: True/false option for opening new trades on Tuesdays.
Trade on Wednesday: True/false option for opening new trades on Wednesdays.
Trade on Thursday: True/false option for opening new trades on Thursdays.
Trade on Friday: True/false option for opening new trades on Fridays.
Trade on Saturday: True/false option for opening new trades on Saturdays.
Trade on Sunday: True/false option for opening new trades on Sundays.

Max Spread in Points: The Maximum Spread allowed.

Max Slippage in Points: The Maximum Slippage allowed.

Use SL/TP Levels in: Points/Percentage of Average Daily Range. When Points are selected the EA uses the below Stop Loss / Take Profit / Break Even and Trailing Stop Loss levels in points for trading. When Percentage of Average Daily Range is selected the EA uses the further down Stop Loss / Take Profit / Break Even / Trailing Stop Loss in % of ADR (Average Daily Range) levels for trading. These levels that are express in percentage of the average daily range of the instrument that is trades helps the EA in being more responsive to the changes and volatility of the market.

Stop Loss in Points: The Stop Loss level for every order.

Take Profit in Points: The Take Profit level for every order.

Virtual Stop Loss in Points: The Virtual Stop Loss level for every order.

Virtual Take Profit in Points: The Virtual Take Profit level for every order.

Break Even Profit in Points: The profit level for every order, in which the EA will move the Stop Loss level to Break Even.

Trailing Start in Points: The level that the EA will start Trailing the Stop Loss for every order.

Trailing Stop in Points: The Trailing Stop Loss distance for every order.

Trailing Step in Points: The Trailing Stop Loss Step for every order.

Average Daily Range Candles: The number of daily candles that are used by the EA for the calculation of the average daily range for the Stop Loss / Take Profit / Break Even / Trailing Stop Loss in % of ADR (Average Daily Range) levels.
Stop Loss in % of ADR: The stop loss level used by the EA for each trade. This level is calculated as a percentage of the average daily range of the instrument that is traded. For example if 30 is inserted in this setting and the average daily range of it is 1000 points, the stop loss level that will be used by the EA will be 300 points.
Take Profit in % of ADR: The take profit level used by the EA for each trade. This level is calculated as a percentage of the average daily range of the instrument that is traded. For example if 50 is inserted in this setting and the average daily range of it is 1000 points, the take profit level that will be used by the EA will be 500 points.

Break Even in % of ADR: The profit level for every trade, in which the EA will move the Stop Loss level to Break Even. This level is calculated as a percentage of the average daily range of the instrument that is traded. For example if 20 is inserted in this setting and the average daily range of it is 1000 points, the profit level at which the Stop Loss will be moved to Break Even will be 200 points.

Trailing Start in % of ADR: The level that the EA will start Trailing the Stop Loss for every trade. This level is calculated as a percentage of the average daily range of the instrument that is traded. For example if 40 is inserted in this setting and the average daily range of it is 1000 points, the stop loss level that will be used by the EA will be 300 points.

Trailing Stop in % of ADR: The Trailing Stop Loss distance for every trade. This level is calculated as a percentage of the average daily range of the instrument that is traded. For example if 30 is inserted in this setting and the average daily range of it is 1000 points, the Trailing Stop distance will be 300 points.

Trailing Step in % of ADR: The Trailing Stop Loss Step for every trade. This level is calculated as a percentage of the average daily range of the instrument that is traded. For example if 10 is inserted in this setting and the average daily range of it is 1000 points, the Trailing Stop Loss Step will be 100 points.
Use Heiken Ashi Candles Trailing: True/false of the option to use or not the Heiken Ashi candles trailing described below. If this setting is true, it will override any other trailing in points or in % of ADR you may have put in the above settings.
Number of Trailing Heiken Ashi Candles: This setting will trail your trades, placing the SL of each buy trade at the bottom of any previous heiken ashi candle body and of each sell at the high of any previous heiken ashi candle body, moving one candle upwards/downwards in every new heiken ashi candle.

Basket Take Profit %: The Take Profit level in % of balance (decimals are available) for all open positions combined, in which the EA will close all open positions. *

Use Basket Stop Loss: True/False of the Basket Stop Loss option.

Basket Stop Loss %: The Stop Loss level in % of balance (decimals are available) for all open positions combined, in which the EA will close all open positions. *

Use Basket Break Even: True/False of the Basket Break Even % option.

Basket Break Even %: The profit level in % of balance (decimals are available) for all open positions combined, in which the EA will move the Stop Loss level to Break Even. *

Use Basket Trailing Stop Loss: True/False of the Basket Trailing Stop Loss option.

Basket Trailing Start %: The profit level in % of balance (decimals are available) for all open positions combined, in which the EA will start Trailing the Stop Loss level upwards.

Basket Trailing Stop %: The Trailing Stop Loss level in % of balance (decimals are available), in which the EA will close all open positions if it is reached. *

Basket Trailing Step %: The Trailing Step level in % of balance (decimals are available), in which the EA will move the Stop Loss level.

Close by Opposite Signal: True/False of the option to close same direction trades on an opposite Heiken Ashi color/signal candle.

Close by Opposite Heiken Ashi Candle: True/False of the option to close same direction trades on an opposite Heiken Ashi color candle, even if the MA or MACD filters don't agree to an opposite signal, if either of them is true.

Close All Trades on Friday: True/false of the option to close all open trades on a set time below on Friday.

Close All Trades on Friday Hour: The Hour that the EA will close all open positions on Friday.

Close All Trades on Friday Minutes: The Minutes that the EA will close all open positions on Friday.

Heiken Ashi Candles Type: Classic/Smoothed
MA Method 1: Smoothed Heiken Ashi Moving Average Method 1 with the following sequence: Simple / Exponential / Smoothed / Linear Weighted. **
MA Period 1: Smoothed Heiken Ashi Moving Average Period 1. **
MA Method 2: Smoothed Heiken Ashi Moving Average Method 2 with the following sequence: Simple / Exponential / Smoothed / Linear Weighted. **
MA Period 2: Smoothed Heiken Ashi Moving Average Period 2. **