Heiken Plus Indicator MT4

HEIKEN PLUS is the only indicator you really need to be a successful trader, without in depth knowledge of the forex trading or any tools. 

Also there is automatically trading MT5 EA available now: https://www.mql5.com/en/market/product/89517? with superb SL/TP management! and sky high profit targets !  MT5 ONLY !

For Metatrader5 version visit: https://www.mql5.com/en/market/product/83761?source=Site

Very suitable tool for new traders or advanced traders too.

HEIKEN+ is a combination of 2 indicators : normal Heiken Ashi and Heiken Ashi smoothed.
It sends signal when these two meet with signals and confirm the same trend.

This is one of the best forex indicators I have used in 10 years of trading. 
It's very reliable,  smart and simple to use. Works on any currency and any timeframe, although I recommend 1 MIN/5 MIN or 4 HOUR/1HOUR
It can't get more simple than this:

  Green up arrow = you should open buy trade.

-HEIKEN plus offers clear signals when to open trades without you needing to calculate with numbers or any levels, no strategy needed.

Just BUY and SELL when arrows appear, and close trade when opposite arrow shows up. And open the new trade based on last arrow. 

In input parameters you can de/activate alerts and push notifications , and optimize calculation methods for the signals ( I don't recommend changing settings)

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Using stop loss and take profit may further increase your profits but it is not necessary. Sometimes its better to just wait for a trend to move with profitable way and close trade after some significant price retracement.
Example use of SL/TP : 

Take Profit - should be set to 2*the distance of last opposite signal from current price. Example: green arrow shows up, you open buy, drag your TP level to a point where last red arrow was, and then drag TP level up again, by the same distance
Stop Loss -   should be set to a same distance as a take profit.

in that case you can use rule about biggest candle on chart. TP and SL level should be set to a distance equal to largest candle size that you see on your current chart.

I understand that new traders will have no idea how to use SL/TP most effectively because there is lot of different cases ( low tf/big tf / strong trend/ no trend/ big breakouts)
and in all those cases we should use different rules about setting SL/TP,

but again I must highlight that trading by arrow signals rules is more important than SL/TP levels

(-*screenshots are from MT5 version)