The Heiken Ashi Expert Advisor (EA) for MetaTrader MT4 and MT5 is designed to trade with the trend using the Heiken Ashi indicator. This EA can automatically enter and exit trades based on Heiken Ashi signals and trail the price of winning trades using multiple strategies: by pips, percentage, ATR, moving average (MA), PSAR, Heiken Ashi candles, or chandelier method. There are two versions available: MT4 Heiken Ashi EA and MT5 Heiken Ashi EA, making it suitable for both platforms.

Heiken Ashi main functions

Detect the trend using the RobotFX Heiken Ashi indicator on multiple timeframes (trend detector can be disabled)
Follow the Heiken Ashi trading strategy and automatically open/close trades based on Heiken Ashi candle color changes
Trail winning trades using various methods: Heiken Ashi candles, moving average (MA), PSAR, ATR, or fractals indicators
Manage open trades by placing StopLoss, TakeProfit, TrailingStop, BreakEven, and other advanced risk management options

The RobotFX Heiken Ashi Expert Advisor (EA) is a complete trend trading solution for traders using MetaTrader MT4 or MT5. This Heiken Ashi EA can detect the trend—if enabled—and trade accordingly: it buys in an uptrend and sells in a downtrend based on the Heiken Ashi candle color on the selected timeframe. Trend detection can be disabled to allow trading purely on Heiken Ashi signals from the current timeframe, though following the trend is recommended for optimal results.

To understand how this trend-following EA works, view the Heiken Ashi chart below:

MetaTrader Heiken Ashi EA with advanced trailing stop options

In the chart above, the Heiken Ashi indicator shows an uptrend on H1 and H4 timeframes, meaning the candles are green (up) on both.

The Heiken Ashi EA allows full customization of candle types, moving average methods (smoothed, exponential, simple, linear), period, and shift for trend detection and trade entries. When trend detectors (A or B) are enabled, trades are only executed if the trend conditions are met, ensuring safer entries.

Trades are opened when Heiken Ashi candles change color (red to green for long trades, green to red for shorts) and can be validated with the swing zone feature to avoid trades against market structure. After opening trades, the EA automatically applies stop-loss, take-profit, and advanced trailing methods including Heiken Ashi, MA, PSAR, ATR, or other trailing algorithms. The EA can optionally use martingale if a previous trade closes in negative profit. This makes the Heiken Ashi EA an all-in-one solution for trend trading with automated trade management.

Trade examples

Heiken Ashi EA MT5 / MT4 trading and trailing price by candlesticks (chandelier strategy)

$Heiken Ashi EA MT5 / MT4 trading and trailing price using fractals indicator$

Heiken Ashi EA MT5 / MT4 trailing using Heiken Ashi indicator

Heiken Ashi EA MT5 / MT4 trailing trades using moving average (MA) indicator

Heiken Ashi EA MT5 / MT4 trailing trades by pips strategy

Heiken Ashi EA MT5 / MT4 trailing trades using parabolic SAR (PSAR) indicator

Money management is fully customizable: traders can use a percentage of free margin for lot size calculation or set a fixed lot size for each trade, ensuring proper risk management while trading with the Heiken Ashi EA.

Heiken Ashi settings

Heiken Ashi Expert Advisor best settings

The RobotFX Heiken Ashi Expert Advisor settings

Take your time to understand what each of these settings does. After you’ve done that, try to optimize the default settings based on the pairs you are trading, the time-frame you trade on, your equity and initial LotSize etc.

ClientEmail - fill this with your email IF you are using a paid version of this EA on a LIVE account
Enable Lot Size Management (%) - set to true to automatically calculate the lotsize based on the “Lotsize as % of Free Margin”
Lotsize as % of Free Margin - see above
LotSize as Fixed Value - trade lotsize if “Enable lotsize management” set to false
Stop Loss (pips) - stoploss value set in pips
Take Profit (pips) - takeprofit value set in pips
Maximum orders allowed - how many orders is the EA allowed to have opened at the same time, on the same chart
Slippage (pips) - distance allowed for the price to move from the open/close/trail order to the execution
Close trades at opposite Heiken Ashi signal - whether or not to close opened trade/s when the Heiken Ashi candles change color
Do not close at Heiken Ashi if negative profit - if above is set to true and this to false, the EA will close the trade/s regardless of the profit. Set to true to close only if the profit is positive
Close trades at opposite Heiken Ashi trend+signal - whether or not to close the trade/s if the trend changes and there is a buy or sell signal, depending on the trend
Close opened winning trades if same signal occurs - if another trade signal occurs and existing trade/s is positive, the EA can close it before starting a new one (if instructed to do so)
Do not close trades (if same signal) if negative profit - if above is set to true but the profit of the trade/s is negative, the EA can be instructed not to close the trade. Set to true to close an existing trade only if there is profit at the moment of changing the candle color
Display chart info - whether or not to show information on the chart
Information color - the chart info color Trades' comment - assign a comment for trades opened by this EA, for easy monitoring
MagicNumber - assign a unique number to trades opened by this EA so they can be managed by other EAs or allow this EA to manage trades opened by other EAs
Open Next Trade (bars) - this the number of bars/candles between a previously opened trade and the next signal, and it is used a filter to restrict the EA from opening too many trades in a small interval
Heiken Ashi signal & trend settings - choose the Heiken Ashi signal settings
Number of Heiken Ashi bars to consider the swing - choose the number of Heiken Ashi candles to consider the “swing zone” used to confirm the entry signals
Pips away from the last swing - set to 0 pips to deactivate the swing zone.

Example: when using a “Pips away from last swing” of 30 pips the EA will enter a trade when the Heiken Ashi signal changes color AND the price (at that moment) is at least 30 pips away from the swing zone upper level (when buying) or lower level (when selling). This should be used to reject buy signals that might occur on overbought areas or sell signals that happen in oversold areas.

FOLLOW TREND A / FOLLOW TREND B - if set to true, the trader can also set the Heiken Ashi trend. Both, one or none of these option can be used.
Enable Martingale - whether or not to multiply the next trade’s lotsize if the previous one/s closed in loss
Martingale if sum of last 2 orders negative - whether or not to consider the lotsize of the last 2 closed trades instead of only the last 1
Martingale multiplier - lotsize multiplier is martingale is enabled
Martingale consecutive trades - maximum number of times a trade lotsize is multiplied, if martingale is enabled and the loss not yet recovered
Price Trailing Method - choose how the EA trails the winning trade/s; Heiken Ashi can also be used to trail the price
Trailing Step (pips) - trailing step used to trail the price
Trailing Stop Buffer (pips) - trailing buffer used to trail the price
Minimum Profit if Trailing Stop Points - the trailing stop will be placed this distance away from the opened price
Trail from Breakeven - whether or not to start trailing only if the price is in profit. Set to false to trail the price as soon as the trade opens, if that is allowed by the trailing option
Trailing indicators settings - settings for some indicators used to trail the price (if that option is chosen to trail). For the Heiken Ashi trailing option, the same settings with the signal are used
Print more logs (disable for normal use) - set to true for testing and for when something doesn’t seem to work as described. Careful as it will write too many logs and slow down your computer

How do you determine your manual GMT offset?
Go to https://greenwichmeantime.com/ Find your brokers time by seeing it displayed in your trading platform under Market Watch (the top left hand side of your MetaTrader4 platform). Now do a little math to find out the hourly difference between the GMT and your brokers time. That is the offset. If the market watch time is ahead of the GMT then your setting is a positive number. But don't use a plus sign. Just write as you normally would for a positive number. If your broker's time is behind the GMT put a negative sign in front of the number.

Differences between MT5 EA version compared to MT4 EA

The Heiken Ashi MT5 expert advisor:

delays opening of trades by a trader defined number of candles/bars to prevent too many orders being places by:

If no open trades, open first trade after previous - applies when there are no trades on the chart
If opened trades, open next trade after previous - applies when there are trades on the chart

has the option to close all trades if their (negative) profits reach the Maximum Loss amount and/or close trades based on the Minimum Profit
also trails the price by Bollinger Bands line, along with all the other trailing methods from the MT4 version

Watch how RobotFX Heiken Ashi works

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Download Heiken Ashi EA free

Download Heiken Ashi - free version

Fully functional MetaTrader expert advisor, limited to demo accounts for risk-free testing

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6 Comments

Graziano Adil

This thing is alright, I guess. Made a few bucks, lost a few too. It's not some magic bullet, but it helps when I'm too lazy to stare at charts all day. Still gotta watch it tho, ain't fully set and forget.

Samantha

sometimes it takes trades that make me scratch my head, but overall, it's not a total waste of money. Just manage your expectations, folks

Anonymous

This EA is a godsend, no cap. I was struggling with all the noise in the market, but this thing really cleans up the charts. My entries and exits are way better. Def worth the seventy-five quid, or whatever it was

Darren

Pretty decent for the price. It's not perfect, but it helps keep me disciplined

Yuusuf Coemans

Been using it for a week and it's… eh. It does what it says, follows the Heiken Ashi. But my account ain't exactly exploding with cash. Maybe I need to tweak it more, or maybe it's just not for my style of trading

Ruslan

My trades are way smoother now. The signals are pretty clear, even for a dumbass like me. Just wish it had more options for, like, super custom settings, you know