HEIKEN ASHI TREND CANDLE EA

Expert Advisor for trading the classic Heiken Ashi candles based on the Heiken Ashi indicator that comes as standard with MT4. However, new orders are only triggered by what I term a Heiken Ashi Trend Candle:

Bullish Heiken Ashi Trend Candle has no lower wick

Bearish Heiken Ashi Trend Candle has no upper wick

The close of a Trend Candle triggers the opening of a new order at the Open of the next candle.

For as long as successive candles are Trend Candles of the same type (Bullish or Bearish), a new order will be opened at the Open of each new candle ie multiple orders can be open at the same time in the direction of the trend. All open orders are closed following the close of a candle which is not a Trend candle of that type, whether or not it is still in the direction of the trend eg for as long as successive candles are Bullish Heiken Ashi Trend Candles, Buy orders will be opened at the Open of each successive candle, but if the most recent candle is bearish or is bullish but with a lower wick then all open orders will be closed.

There is also an additional filter for the triggering candle that the range from Open to Close of this candle in the direction of the trend must be a minimum specified value.

Stop Loss & Trailing Stop Loss can be set in points or in % of ADR (Average Daily Range).

Other input variables are: Lot size, timeframe during the day that new orders can be opened.

Magic numbers are assigned to all orders

Refer to attachments for full details